Market Overview

Benzinga's Weekend M&A Chatter


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday June 10 through Sunday June 12, 2016:

Bayer Reiterates $122/Share Offer for Monsanto

The Offer:
Bayer AG (OTC: BAYRY) has reiterated its $122 bid or $62 billion for Monsanto Co. (NYSE: MON), as reported by Dow Jones on Friday. Sources say Bayer has indicated in a letter to Monsanto, that it has lined up financing for a takeover and is confident it can successfully handle any regulatory concerns.

Last month, Monsanto rejected Bayer's offer as being too low.

Monsanto fell $0.79 Friday, to close at $109.20.

AT&T, Dan Gilbert Each Said to Offer $5B for Yahoo

The Rumor:
Quicken Loans founder Dan Gilbert and AT&T (NYSE: T) have each offered $5 billion for Yahoo's core Internet business, patents and real estate assets, according to sources as reported by Bloomberg on Friday. Verizon is said to be offering $3.5 to $4.0 billion for only the Internet business.

The final round of bids for Yahoo assets is expected this week.

Yahoo closed at $36.83 on Friday, down 1.39%.

Westlake Chemical to Buy Axiall for $33/Share in All-Cash Transaction

The Deal:
Westlake Chemical Corporation (NYSE: WLK) and Axiall Corporation (NYSE: AXLL) announced Friday, that Westlake will acquire all of the outstanding shares of Axiall for $33.00 per share in cash. The enterprise value of the deal is approximately $3.8 billion.

The transaction is expected to be completed by Q4 of 2016.

Axiall closed at $32.56 on Friday, up 26.15%.

Dr. Reddy's to Acquire Portfolio of Eight ANDA's from Teva, Allergan Affiliate for US Market for $350M in Cash

The Deal:
Dr. Reddy's Laboratories (NYSE: RDY) has entered into an agreement with Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) and an affiliate of Allergan plc (NYSE: AGN), to acquire a portfolio of eight Abbreviated New Drug Applications in the U.S. for $350 million in cash at closing. The deal is contingent on the closing of the Teva-Allergan generics transaction and approval by the FTC.

Dr. Reddy's closed at $45.10 on Friday, down 1.5%.

Symantec to Acquire Blue Coat Systems for $4.651B in Cash

The Deal:
Symantec (NASDAQ: SYMC) and Blue Coat, Inc. announced Sunday, that Symantec will acquire Blue Coat for approximately $4.651 billion in cash. Greg Clark, CEO of Blue Coat, will become CEO of Symantec at the close of the transaction.

Symantec closed at $17.30 on Friday, down $0.09.

Posted-In: News Rumors Management M&A Movers


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