Market Overview

Benzinga's M&A Chatter for Wednesday April 6, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday April 6, 2016:

The Female Health Company Enters Merger Agreement with Aspen Park Pharmaceuticals

The Deal:
The Female Health Company (NASDAQ: FHCO) announced Wednesday, that it has entered into a merger agreement with privately held Aspen Park Pharmaceuticals, Inc. Aspen Park is focused on the development and commercialization of oncology and men's and women's health therapeutics and consumer health products.

The merger is expected to close in Q3 of 2016.

Female Health Company closed at $1.41 on Wednesday, down 18%.

Shire Says Still Confident in Baxalta Transaction Despite Treasury Headwinds

The Company Comments:
Shire plc (NASDAQ: SHPG) acknowledged on Wednesday, the US Treasury notice of April 4, 2016, and anticipates the Baxalta (NYSE: BXLT) transaction will be completed by mid-2016 as previously announced.

"The combination of Shire and Baxalta is based on a strong strategic rationale to create the leading global biotechnology company focused on rare diseases. The company currently expects to complete its proposed combination by mid-2016 as previously announced."

Shire closed at $181.02 on Wednesday, up 1.45%. Office Depot closed

MTS Systems Reports Deal to Buy PCB Group for $580M

The Deal:
MTS Systems Corporation (NASDAQ: MTSC) announced Wednesday that it has agreed to acquire 100% of PCB Group Inc. for $580 million through a merger of a newly formed subsidiary of MTS into PCB, with PCB surviving as a wholly-owned subsidiary of MTS after the closing. MTS's Board of Directors and PCB shareholders have approved the transaction.

MTS closed at $52.06 on Wednesday, down 12.11%.

Halliburton, Baker Hughes to Contest DoJ Action

Merger Parties Seek Judicial Review:
Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) announced Wednesday, that the companies intend to vigorously contest the DOJs effort to block their pending merger.

Halliburton and Baker Hughes believe the DOJ has reached the wrong conclusion in its assessment of the deal.

The companies are seeking a full, impartial judicial review of the pending merger.

Halliburton closed at $36.44 on Wednesday, up 6%. Baker Hughes rose 8.82%, to close at $42.83.

Pfizer Announces Termination of Merger with Allergan

The Termination:
Pfizer Inc. (NYSE: PFE) announced Wednesday, that the merger agreement between Pfizer and Allergan plc (NYSE: AGN) has been terminated by mutual agreement, following actions announced by the U.S. Department of Treasury on April 4, 2016, which the companies concluded qualified as an "Adverse Tax Law Change" under the merger agreement.

Allergan closed at $244.74 on Wednesday, up 3.5%. Pfizer closed at $32.93, up 5%.

Posted-In: M&A News Rumors Movers


Related Articles (AGN + BHI)

View Comments and Join the Discussion!

Earnings Scheduled For April 7, 2016

After-Hours Recap: Bed Bath & Beyond, Apollo, Valeant, eBay & More