Market Overview

Benzinga's M&A Chatter for Thursday July 14, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday July 14, 2016:

Bayer Raises Offer for Monsanto to $125/Share

The Offer:
Bayer (OTC: BAYRY) announced Thursday, it has increased its offer to acquire Monsanto (NYSE: MON) from $122 to $125 per share, first verbally on July 1 and via an updated proposal on July 9. In addition, Bayer has offered a $1.5 billion reverse antitrust break fee.

Monsanto acknowledged receipt of the revised proposal from Bayer and its Board will review the proposal, in consultation with its financial and legal advisors.

Monsanto closed at $104.22 on Thursday, up 3.06%.

Infineon to Acquire Wolfspeed from Cree for $850M in Cash

The Deal:
Infineon Technologies AG (OTC: IFNNY) and Cree, Inc. (NASDAQ: CREE) announced Thursday, that Infineon will acquire the Wolfspeed Power and RF division of Cree, plus the related SiC wafer substrate business for power and RF power for $850 million in cash. The deal is expected to close by the end of calendar year 2016.

Cree closed at $27.74 on Thursday, up 10.61%.

Cabela's Nears Deal to be Acquired by Goldman Sachs, Bass Pro Shops

The Rumor:
Goldman Sachs and Bass Pro Shops are close to a deal to acquire Cabela's (NYSE: CAB), according to a report by the NY Post on Thursday. A source said Bass is the only remaining bidder, as private equity firms Apax Partners and TPG Capital are no longer participating in the bid process.

A deal could happen in the next few days, the source said.

Cabela's closed Thursday at $54.08, up 2.72%.

Williams Said to have Seven Bidders for Canadian Unit

The Rumor:
At least seven bidders are interested in Williams Cos Inc's (NYSE: WMB) Canadian unit, according to sources as reported by Reuters on Thursday. Among the rumored bidders are Enbridge Inc (NYSE: ENB) and Pembina Pipeline Corp (NYSE: PBA), the sources said.

A deal could be worth up to $2 billion. Williams merger deal with Energy Transfer Equity (NYSE: ETE) was terminated late last month.

Williams Cos closed Thursday at $23.60, up 6.16%.

Posted-In: M&A News Rumors Movers


Related Articles (CAB + BAYRY)

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