Market Overview

Benzinga's M&A Chatter for Monday July 18, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday July 18, 2016:


SoftBank to Acquire ARM Holdings for ~$32B

The Offer:
SoftBank Group Corp. (OTC: SFTBY) and ARM Holdings plc (NASDAQ: ARMH) announced Monday, that they have reached agreement on the terms of a recommended all cash by SoftBank of 1,700 pence per UK share or approximately $67.26 per U.S. ADR. The consideration values the entire existing issued and to be issued share capital of ARM at approximately £24.3 billion (approximately $32 billion).

ARM Holdings closed at $66.17 on Monday, up 40.55%.


Hearing Dealreporter Says Tronox May Explore Sale

The Rumor:
Shares of Tronox (NASDAQ: TROX) rose Monday on a report from DealReporter that the company was exploring a sale. Tronox did not respond to a request for comment.

Tronox closed at $7.02 on Monday, up 4.78%.


Smith & Wesson Reports Battenfeld Technologies Unit to Buy Taylor Brands for $85M in Cash

The Deal:
On July 15, 2016, Smith & Wesson (NYSE: SWHC) subsidiary, BTI Tools entered into an asset purchase agreement with Taylor Brands to acquire substantially all of the assets of Taylor for $85 million in cash. The Transaction is expected to close in August.

Smith & Wesson closed Monday at $28.78, up 1.52%.


Hearing Unconfirmed Takeover Chatter in Hartford Financial Involving Travelers

The Rumor:
Shares of Hartford Financial (NYSE: HIG) spiked to the high of the day of $44.39, following unconfirmed market chatter of a potential bid from Travelers Companies (NYSE: TRV). A similar report surfaced in August 2015.

Hartford closed Monday at $43.74, down $0.01.


Related Articles (ARMH + HIG)

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Posted-In: M&A News Rumors Movers