Market Overview

Benzinga's M&A Chatter for Monday March 14, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street :

Apollo Global to Acquire Fresh Market for $28.50/Share in Cash

The Deal:
The Fresh Market, Inc. (NASDAQ: TFM) and an affiliate of Apollo Global Management, LLC (NYSE: APO) confirmed Monday, that certain funds managed by private equity firm Apollo, will acquire The Fresh Market for

approximately $1.36 billion, or $28.50 per share in cash. The transaction is expected to close in Q2 of 2016.

Fresh Market closed at $28.39 on Monday, up 23.54%.

Trip Advisor Shares Rise on Renewed Takeover Chatter

The Rumor:
Shares of TripAdvisor Inc. (NASDAQ: TRIP) surged higher Monday on renewed chatter of a potential bid from The Priceline Group Inc. (NASDAQ: PCLN). Liberty Interacive's John Malone spun off his stake in Trip Advisor into the publicly-traded Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) in 2014. He would be the key player in an acquisition of Trip Advisor.

Spokespersons for Trip Advisor and Priceline did not respond to requests for comment.

Trip Advisor closed at $66.54 on Monday, up 4.46%.

Starwood Hotels Receives Unsolicited Acquisition Proposal of $76.00/Share in Cash

The Offer:
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced Monday, that on March 10, 2016 it received a non-binding proposal from a consortium of companies, said to be led by China's Angbang, to acquire all of the outstanding shares of common stock of Starwood for $76.00 per share in cash. In addition, shareholders would receive consideration in the form of Interval Leisure Group common stock from previously announced spin-off of Vistana Signature Experiences, and subsequent merger with ILG, valued at approximately $5.50 per Starwood share.

On November 16, 2015, Starwood announced a definitive merger agreement with Marriott International, Inc. (NYSE: MAR), whereby Marriott would acquire Starwood in a stock and cash transaction, valued currently at $63.74 per share.

Starwood's Board will carefully consider the outcome of its discussions with the Consortium. It has not changed its recommendation in support of Starwood's merger with Marriott.

Starwood closed at $22.07 on Monday down up 7.82%.


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Posted-In: M&A News Rumors Movers