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Benzinga's Weekend M&A Chatter


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday July 15 through Sunday July 17, 2016:


Reckitt Benckiser Said to Bid for Perrigo

The Rumor:
Shares of Perrigo (NYSE: PRGO) spiked as high as $97.40 on Friday, following a report from Proactive Investors that the UK's Reckitt Benckiser (OTC: RBGLY) is set to make a bid for the Dublin-based manufacturer of over-the-counter consumer goods and pharmaceutical products. Spokespersons for Perrigo and Reckitt Benckiser declined comment on the report. Proctor & Gamble Co (NYSE: PG) and Johnson & Johnson (NYSE: JNJ) are also potential buyers for Perrigo, the report said.

Perrigo closed at $94.70 on Friday, up 1.14%.


Chatter of Potential Coke Bid for Kellogg

The Rumor:
Coca-Cola (NYSE: KO) is rumored to be in takeover talks with Kellogg (NYSE: K), according to "sources." An offer of $98 per share is being mentioned for the Battle Creek, Michigan cereal maker.

A Kellogg spokesperson declined comment on the speculation. Coca-Cola did not respond to a request for comment. There has been unusual call activity in Kellogg in recent weeks.

Kellogg closed at $85.99 on Friday, up $0.67.


Walgreens Boots Alliance Said to be in Talks with FTC Regarding Proposed Acquisition of Rite Aid

The Rumor:
Walgreens Boots Alliance (NASDAQ: WBA) is said to be in discussions with the Federal Trade Commission regarding the potential sale of assets in order to get the go-ahead for its acquisition of Rite-Aid (NYSE: RAD), according to sources as reported by the NY Post on Friday.

The FTC declined comment on the Post report. Walgreen's announced in November 2015 it would acquire Rite Aid for $17.2 billion.

Rite Aid closed Friday at $7.19, up 2.42%.


Chen Sheng, Kingsoft, Tsinghua Unigroup Withdraw Going Private Proposal to Acquire 21Vianet

The Offer Withdrawal:

Chen Sheng, Kingsoft and Tsinghua Unigroup reported Friday in an amended 13D filling, that they had "submitted a letter to the special committee of the board of directors of the Issuer which notified the Issuer that such parties had unanimously determined to withdraw the Proposal. The withdrawal of the Proposal became effective on June 30, 2016."

21Vianet announced receipt of preliminary non-Binding "going private proposal of $23.00 per ADS on June 10.

21Vianet closed Friday at $9.44, down 5.41%.


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