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Benzinga's M&A Chatter for Tuesday April 26, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday April 26, 2016

Energy Transfer Equity-Williams Co Merger in Jeopardy

The Rumor:
The proposed merger between Energy Transfer Equity LP (NYSE: ETE) and Williams Companies Inc (NYSE: WMB) will not take place, according to a source close to the matter speaking to Benzinga on Tuesday. The source said reasons for the merger not happening included issues related to a tax opinion from Energy Transfer lawyers, valuation concerns and the departure of Energy Transfer CFO Jamie Welch. The merger deal, announced in September 2015, values Williams Cos at $43.50 per share.

Williams declined comment on the matter, while Energy Transfer Partners did not immediately respond to request for comment.

Williams closed at $19.39 on Tuesday, up 1.73%. Energy Transfer Equity rose 4.24%, closing at $11.79.

SunEdison to Sell Two Energy Projects in Chile to Colburn for Undisclosed Amount

The Deal:
SunEdison Inc (NYSE: SUNE) has agreed to sell two energy projects in Chile to power company Colbun for an undisclosed amount. Colbun said "The agreement entails the acquisition of two solar energy farms that are being developed on Chile's SIC power grid and their respective long-term power-supply contracts."

SuneEdison filed for Chapter 11 bankruptcy protection on April 21.

SunEdison closed at $0.34 on Tuesday, unchanged.

Comerica CEO Says He's Willing to Sell the Company

The CEO Comments:
Comerica Inc. (NYSE: CMA) shares spiked to a high of $45.68 on Tuesday, following comments by CEO Ralph Babb that he would consider offers to sell the company. Babb told investors at the company's annual meeting "We're looking at all alternatives," and "we must earn our right to remain independent every day."

Comerica announced on April 19 that it was working with Boston Consulting Group on a "comprehensive review of its expense and revenue base in order to meaningfully enhance profitability." On April 22, Dow Jones reported that several large shareholders were pressing for Comerica to explore a potential sale.

Comerica closed at $45.13 on Tuesday, up 3.32%.


Related Articles (CMA + ETE)

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Posted-In: M&A News Rumors Movers

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