Market Overview

Benzinga's M&A Chatter for Wednesday April 13, 2016

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday April 13, 2016:

Unconfirmed Market Chatter of Nike Interest in FitBit Acquisition

The Rumor:
Shares of FitBit (NASDAQ: FIT) rose Wednesday, on unconfirmed market chatter of a potential bid from Nike (NYSE: NKE). Last month, a similar report surfaced mentioning a potential $25 offer.

Other potential suitors for FitBit mentioned previously include UnderArmour (NYSE: UA) and Microsoft (NASDAQ: MSFT).

Spokespersons for Nike and FitBit were not available for comment.

FitBit closed at $17.01 on Wednesday, up 12.28%.

McCormick Ends Pursuit of Premier Foods

The Withdrawn Proposal:
McCormick & Company, Incorporated (NYSE: MKC) announced Wednesday, that it does not intend to make an offer for Premier Foods. After completing its due diligence, McCormick has determined that it would not be able to make an offer that would be acceptable to the Premier Board and also be appropriate for its own shareholders.

McCormick closed at $96.72 on Wednesday, down 2.20%.

Renewed Chatter of AT&T Bid for Time Warner

The Rumor:
Shares of Time Warner (NYSE: TWX) surged higher Wednesday, on unconfirmed market chatter of a potential bid from AT&T (NYSE: T). "Sources" say AT&T could bid $88 per share in cash and stock.

The New York Post reported a similar rumor in January.

Time Warner closed at $75.00 on Wednesday, up 1.67%.

Lonza Said to be Interested in Acquiring Catalent

The Rumor:
Lonza Group AG (OTC: LZAGY) has made an offer to acquire Catalent Inc (NYSE: CTLT), according to sources as reported by Reuters on Wednesday. The companies have not yet agreed on a purchase price, the sources said.

Lonza and Catalent did not respond to requests for comment.

Catalent closed at $29.66 on Wednesday, up 4.14%, after trading as high as $32.24.

Posted-In: News Rumors M&A Movers

 

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