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Benzinga's M&A Chatter for Monday June 27, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday June 27, 2016:

Medtronic to Acquire Heartware for $58/Share in Cash

The Deal:
Medtronic plc (NYSE: MDT) and HeartWare International, Inc. (NASDAQ: HTWR) announced Monday, that the companies have agreed Medtronic will acquire HeartWare for $58.00 per share, in cash, for a transaction valued at approximately $1.1 billion. The transcation is expected to close during Medtronic's second fiscal quarter ending Oct. 28, 2016.

HeartWare International closed Monday at $57.79, up 92.76%.

Marriott Receives Antitrust Clearance fronm EU to Acquire Starwood

The Clearance:
Marriott International, Inc. (NASDAQ: MAR) and Starwood Hotels and Resorts Worldwide (NYSE: HOT) announced Monday, they have received unconditional clearance from the EU for Marriott to acquire Starwood. Marriott and Starwood shareholders approved proposals related to the transaction on April 8.

The merger is expected to close in July 2016.

Marriott closed Monday at $61.21 on Monday down 4.22%. Starwood closed at $69.64 on Monday, down 3.01%.

Gannet to Acquire ReachLocal for $4.60/share in Cash

The Deal:
Gannett Co., Inc. (NYSE: GCI) and ReachLocal, Inc. (NASDAQ: RLOC) announced Monday, an agreement under which Gannett would acquire the outstanding shares of ReachLocal for $4.60 per share in cash, via a tender offer. The transaction is expected to close in Q3 of 2016.

ReachLocal closed at $1.69 on Monday and traded at $4.57 after-hours.


Related Articles (GCI + HOT)

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Posted-In: M&A News Rumors Movers