Benzinga's M&A Chatter for Tuesday May 17, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday May 17, 2016: Dangdang Gets Revised Proposal to be Acquired for $6.50/ADS in Cash The offer:
E-Commerce China Dangdang Inc. DANG announced Tuesday, that the board of directors of the Company has received a non-binding proposal, dated May 17, 2016, from Chairwoman Peggy Yu Yu and CEO Guoqing Li to acquire all of the outstanding shares of the Company not already owned by the buyers for $6.50 per ADS in cash. iMeigu Capital Management offered $8.80 per ADS in March. The special committee of the Board is evaluating the revised proposal. Dangdang shares rose 3.93% Tuesday to close at $5.55. Hearing Valeant is Considering Divestiture of Obagi Medical Products, Provenge The Rumor:
Valeant Pharmaceuticals International Inc. VRX is exploring the sale of some cosmetic and pharmaceutical assets, according to sources as reported by Bloomberg on Tuesday. Among the asset sales being considered are dermatology company Obagi Medical Products and prostate cancer treatment Provenge, originally owned by Dendreon, the sources said. Up to $1 billion could be raised in a sale of assets. Valeant closed at $29.08 on Tuesday, up 7.50%. Philip Falcone's HC2 offers to Acquire Anderson's for $37/Share in Cash The Offer:
HC2 Holdings, Inc. (NYSE MKT: HCHC) announced Tuesday, that it has sent a letter to Andersons, Inc. ANDE Chairman Michael J. Anderson, with an offer to acquire The Andersons for $37 per share in cash or $1.043 billion in total, plus the assumption of $402 million in debt. HC2's Chairman, President and CEO Philip Falcone said "We are confident in our ability to complete the transaction given that there are no financing conditions and our exclusive understanding with a qualified strategic partner that is aligned with us to complete this transaction." Anderson's closed at $25.94 on Tuesday and traded as high as $34 after-hours.