Benzinga's M&A Chatter for Tuesday February 16, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday February 16, 2016:

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ADT Corporation

announced Tuesday, that it has agreed to be acquired by an affiliate of certain fund managed by affiliates of Apollo Global Management, LLC

for $42.00 per share in cash. The headquarters of the combined company will remain in Boca Raton, FL, and will operate primarily under the ADT brand. The deal is expected to close by June 2016. ADT closed at $39.64 on Tuesday, up 47.53%.

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Stryker Corporation

announced Tuesday, an agreement to acquire Physio-Control International for $1.28 billion in cash from Bain Capital Private Equity. The deal is expected to close at the beginning of Q2. Stryker closed at $97.40 on Tuesday, up $0.07.

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Time Inc.

announced Tuesday, the acquisition of YouTube channels /DRIVE and Fast Lane Daily, along with their associated websites and content libraries. Terms were not disclosed. Time, Inc. closed at $13.39 on Tuesday, up 7.03%.