Benzinga's M&A Chatter for Tuesday February 23, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday February 23, 2016:

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Private equity firm Thomas H. Lee Partners is said to be the company that approached Shutterfly Inc

with a preliminary acquisition proposal, according to sources as reported by

on Tuesday. That followed a disclosure from Shutterfly that they received communications directed to the Board from a private equity firm indicating an interest in acquiring the company. Shutterfly did not disclose the name of the PE firm. Shutterfly did not respond to a request for comment. A Thomas H. Lee spokesperson declined comment. Shutterfly closed at $43.98 on Tuesday, up 7.48%.

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IBM is acquiring Resilient Systems, a provider of incident response platform, according to Xconomy. The purchase price is said to be more than $100 million. The deal is expected to close in Q2 of 2016. IBM and Resilient Systems did not respond to requests for comment. IBM shares fell 1% on Tuesday, to close at $132.40.

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MKS Instruments, Inc.

and Newport Corporation

announced Tuesday, that they have agreed that MKS Instruments will acquire Newport Corporation for $23.00 per share in cash. The transaction is valued at approximately $980 million. Newport closed at $22.76 on Tuesday, up 51%.

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Honeywell

confirmed Tuesday, that it has engaged in discussions with United Technologies Corporation

regarding a possible business combination. The talks took place over the past year. Honeywell said it does not see the regulatory process as a material obstacle to a transaction. United Technologies on Monday, also confirmed the talks, but believed regulatory issues would pose a big obstacle to a potential deal. Honeywell said a merger would create annualized cost synergies of $3.5 billion. United Technologies closed at $91.60 on Tuesday, down $0.77.