Market Overview

Benzinga's M&A Chatter for Tuesday February 2, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday February 2, 2016:

Syngenta-ChemChina Deal Could Be Announced Wednesday

The Rumor:
ChemChina near a deal to acquire Syngenta (NYSE: SYT) for approximately $42.2 billion, according to sources reported by Reuters on Tuesday. The deal likely will be announced on Wednesday, when Syngenta announces its 2015 results, the sources said.

Syngenta declined comment on the report. Benzinga reported on December 9, 2015 that ChemChina would offer $44 billion in cash for Syngenta.

Syngenta closed at $78.57 on Tuesday, up 6.20%.

Unconfirmed Market Chatter of Talks Between Las Vegas Sands-Wynn Resorts CEOs

The Rumor:
Reports circulated Tuesday of a potential deal between Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN). "Sources" says LVS's Sheldon Adelson met with Steve Wynn regarding the matter.

A source close to the situation said no talks took place and the same rumor had surfaced a month ago.

Las Vegas Sands closed at $42.20 on Tuesday, down 5.44%. Wynn Resorts closed at $62.00, down 7.6%.

Ku6 Media Announces Formation of Independent Special Committee to Consider "Going Private" Proposal

The Special Committee:
Ku6 Media Co., Ltd. (NASDAQ: KUTV) announced Tuesday, that in response to the preliminary non-binding "going-private proposal received by the Company's Board of Directors from controlling shareholder Shanda Interactive Entertainment Limited, the Board has formed a special committee.

Ku6 Media announced Monday, that the Board had received a preliminary non-binding proposal to acquire the company for $1.08 per ADS.

Ku6 Media closed at $0.87 on Tuesday up 1.16%.

Fairchild Said to Accept Offer from Chinese Buyers

The Rumor:
Fairchild Semiconductor (NYSE: FCS) is expected agree to a $2.5 billion buyout offer from China Resources Microelectronics and Hua Capital Management, according to sources as reported by the NY Post on Tuesday. Fairchild revealed the offer of $21.70 per share in early January.

Fairchild had agreed in November to be acquired by ON Semiconductor (NYSE: ON) for $20 per share, or about $2.4 billion. The Chinese deal would need approval from the US Committee on Foreign Investment.

Fairchild Semiconductor closed at $20.75 on Tuesday, up 1.52%.

Roche Said to Approach Pacific Biosciences in Takeover Attempt

The Rumor:
Roche Holding (OTC: RHHBY) has approached Pacific Biosciences of California Inc (NASDAQ: PACB) to discuss a takeover, according to sources as reported by Reuters on Tuesday. There has been no agreement on price, the sources said.

Roche declined comment. Pacific Biosciences did not respond to requests for comment.

Pacific Biosciences closed at $12.67 on Tuesday, up 24.34%.

TE Connectivity to Acquire Creganna Medical Group for $895M

The Deal:
TE Connectivity Ltd. (NYSE: TEL) announced Monday, that it has agreed to acquire the Creganna Medical group for $895 million in cash.

Upon completion of the transaction, the business will be reported as part of TE's Industrial Solutions segment.

TE Connectivity closed at $54.81 on Tuesday, down 4.2%.

Posted-In: News Rumors M&A Movers


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