Market Overview

Benzinga's M&A Chatter for Tuesday March 8, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday March 8, 2016:

Renewed Chatter of Potential Nike Bid for FitBit

The Rumor:
Shares of FitBit (NYSE: FIT) spiked higher Tuesday on renewed market chatter of a potential takeover offer from Nike (NYSE: NKE). "Sources" said Nike executives were in communication with FitBit, with a potential buyout at $22.00 to $25.00 per share.

FitBit closed at $13.05 on Tuesday, up $0.02.

Vivant Solar Terminates SunEdison Merger Agreement

The Termination:
Vivint Solar (NYSE: VSLR) announced Tuesday, that it delivered a letter to SunEdison, Inc. (NASDAQ: SUNE) notifying it that, as a result of SunEdison's failure to meet its obligations, Vivint Solar has terminated the merger agreement. Vivint Solar later announced a lawsuit against SunEdison

SunEdison announced in July 2015 it was acquiring Vivant Solar for $2.2 billion.

SunEdison closed at $2.00 on Tuesday, up $0.10. Vivant Solar lost 20% on Tuesday to close at $4.17

Encana Exploring Said to be Exploring Sale of $1B in Non-core Assets

The Rumor:
Canada's Encana Corp NYSE: ECA) is said to be considering the sale of additional non-core assets in the U.S. and Canada valued, according to sources as reported by Reuters on Tuesday. The assets could be valued at approximately $1 billion, the sources said.

A spokesman for Encana declined comment.

Encana closed at $5.22 on Tuesday down 14.43%.


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Posted-In: M&A News Rumors Movers