Market Overview

Benzinga's M&A Chatter for Wednesday May 11, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday May 11, 2016:

AMC Entertainment Said to be Preparing Bid for Odeon & UCIi Cinemas Valuing Company at £900M

The Rumor:
AMC Entertainment Holdings Inc.(NYSE: AMC) said to be preparing a bid to acquire for Odeon & UCI Cinemas Group, according to sources as reported by Bloomberg on Wednesday. A deal could value Oden at as much as £900 million or $1.3 billion, the sources said.

Dalian Wanda Group is the majority owner of AMC.

Representatives for AMC, Dalian Wanda and Terra Firma declined to comment.

AMC Entertainment closed at $29.55 on Wednesday, down $0.28.

Brookfield Asset Management Said to Bid $5.2B for Petrobras Gas Pipeline Unit

The Rumor:
Brookfield Asset Management Inc (NYSE: BAM) is said to have offered $5.2 billion to acquire a division of Brazil's State-controlled Pertobras' (NYSE: PBR) natural gas pipeline unit, according to sources as reported by Reuters on Wednesday. The sources said Brookfield's offer for Nova Transportadora do Sudeste SA was higher than competing offers from Spain's Gas Natural Fenosa, France's Engie and Japan's Mitsui.

Petrobras closed at $7.42 on Wednesday, up $0.07.

HomeStreet to Acquire Certain Assets, Branches, Deposits from Bank of Oswego; Financial Terms Not Disclosed

The Deal:
HomeStreet, Inc. (NASDAQ: HMST) announced Wednesday, the execution of a definitive agreement for HomeStreet Bank to acquire certain assets and limited liabilities, including deposits, from The Bank of Oswego relating to its two branches in Lake Oswego, Oregon. The acquisition is expected to close in Q3 of 2016.

The branches being acquired by HomeStreet Bank are located in Lake Oswego, Oregon. As of March 31, 2016, total

HomeStreet closed at $20.80 on Wednesday, down 2.44%.

PE Firm Thoma Bravo Said to have Made Approach to Infoblox

The Rumor:
Infoblox Inc. (NASDAQ: BLOX) is said to have received an offer from Thoma Bravo to take the company private, according to sources as reported by Bloomberg on Wednesday. The sources said Infoblox is considering hiring advisers to explore strategic options.

Starboard Value disclosed a 7.1% stake in Infoblox last month. Spokespersons for Thoma Bravo and Infoblox declined to comment.

Infoblox closed at $15.31 on Wednesday, and traded at $16.10 after-hours.

Posted-In: M&A News Rumors Movers


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