Market Overview

Benzinga's M&A Chatter for Thursday August 4, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday August 4, 2016:


EU Could Block Dow-DuPont Merger

The Rumor:DOW) and DuPont (NYSE: DD) were volatile Thursday following a report from MLex that the EU could launch an investigation into the merger of the two companies and had declined to approve the concessions made to secure approval. Dow and Dupont announced their $130 billion merger in December.

DuPont closed at $68.85 on Thursday, down $0.06. Dow rose $0.06, closing at $53.49.


Hearing Bayer Has Said Co. Reviewing Monsanto's Accounts Amid Consideration of Increasing Bid

The Rumor:
Bayer (OTC: BAYRY) is looking through Monsanto's (NYSE: MON) books as it considers raising its offer, according to a report from Bloomberg on Thursday. Bayer first offered $122 per share, then raised the offer to $125. However, both offers were rejected by Monsanto.

Previously, Monsanto had indicated it wanted Bayer to increase its offer further and raise the breakup fee, before any confidential information would be released. Monsanto closed at $106.42 on Thursday, up 1.97%.


Traders Circulate Chatter of Merck Takeover of Celgene

The Rumor:
Shares of Celgene (NASDAQ: CELG) spiked to a high of $117.45 on Wednesday, as traders circulated unconfirmed market chatter of a potential bid from Merck (NYSE: MRG), according to "sources". This follows a rumor on Wednesday from the Wall Street Journal of a possible bid from Merck or AstraZeneca (NYSE: AZN) for Biogen (NASDAQ: BIIB). Celegne was also mentioned in May as a potential bidder for Medivation (NASDAQ: MDVN).

Celgene closed Thursday at $116.27, up $0.13.


Rackspace Said to be in Advanced Talks to Be Sold to PE Firm

The Rumor:
Rackspace Hosting Inc. is near a deal to be acquired by a private-equity firm, according to sources as reported by the Wall Street Journal on Thursday. The sources said a deal could be reached as early as this week.

Rackspace announced in May 2014 it had hired Morgan Stanley to assist in exploring strategic alternatives. The company has been the subject of frequent takeover rumors and has struggled to compete against Amazon Web Services (NASDAQ: AMZN).

Rackspace closed Thursday at $116.62, up $0.51.

Posted-In: News Rumors M&A Movers


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