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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday March 10, 2016:
TransCanada in Takeover Talks With Columbia Pipeline GroupThe Rumor:
TransCanada Corp.
TRP is said to be in takeover talks with Columbia Pipeline Group Inc.,
CPGX, according to sources as reported by
Dow Jones on Thursday. THe deal could be announced on the coming weeks, with a value of more than $10 billion, the sources said.
TransCanada later confirmed in a press release that they were in discussions regarding a potential transaction with a third-party, but would not indicate which company it was.
Bloomberg later reported that a deal was not likely, as talks were at a standstill.
Columbia Pipeline closed at $21.43 on Thursday, up 8.51%. TransCanada shares fell almost 4%, to close at $35.66.
China Yida to be Acquired for $3.32/ShareThe Deal:
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China Yida Holding, Co. announced Thursday, that on March 8, the company entered into an agreement to be acquired by China Yida Holding Acquisition Co. for $3.32 per share in cash. The company's CEO and COO currently own 57.84% of the outstanding shares.
China Yida Holding closed at $2.75 on Thursday, up 39.59%.
Marvell Says Not in Takeover Talks With AvagoThe Takeover Rumor:
Marvell Technology Group Ltd.
MRVL announced Thursday, that is aware of certain press reports speculating that Avago Technologies, now Broadcom
AVGO is a potential acquirer of Marvell.
Marvell confirms no talks have taken place with Avago regarding a potential offer to acquire Marvell.
The
NY Post reported on March 6 of a potential deal between the two companies.
Marvell closed at $10.00 on Thursday up 1.32%.
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