Market Overview

Benzinga's M&A Chatter for Tuesday August 16, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday August 16, 2016:

Bayer May Go Hostile in Bid for Monsanto

The Rumor:
Bayer (OTC: BAYRY) could launch a hostile bid for Monsanto (NYSE: MON), according to sources as reported by Handelsblatt. A quote from Bayer CEO Werner Baumann that he is “absolutely determined to complete this transaction,” was mentioned in the article as the basis for a potential hostile bid.

Monsanto closed Tuesday at $105.44, up $0.46.

Praxair Confirms Preliminary Talks with Linde Regarding Potential Merger

The Merger Talks:
Praxair, Inc. (NYSE: PX) confirmed Tuesday, that it is in preliminary talks with Linde AG regarding a potential merger. Praxair said the discussions are ongoing and does not intend to comment further at this time.

Praxair closed at $121.27 on Tuesday, up 2.75%.

GNC Said to Begin Sale Process

The Rumor:
Shares of GNC (NYSE: GNC) spiked higher Tuesday, as Deal Reporter said the vitamin chain will begin their sale process next month, according to sources. GNC did not respond to requests for comment.

GNC closed at $20.43 on Tuesday, up 3.6%.

Skullcandy Reports Receipt of Revised Bid from Mill Road Capital for $6.25/Share in Cash

The Revised Offer:
Skullcandy, Inc. (NASDAQ: SKUL) announced Tuesday, that on August 15, 2016, it received a revised unsolicited acquisition proposal from Mill Road Capital Management LLC to acquire Skullcandy for $6.25 per share in cash. That represents a premium to the Incipio merger agreement of $0.15 per share, or 2.5%.

The Strategic Transactions Committee of the Skullcandy Board determined that the Mill Road Proposal was reasonably likely to lead to a superior proposal and it intends to discuss and negotiate with Mill Road in accordance with the terms of the Merger Agreement.

Skullcandy closed at $6.30 on Tuesday, up 1.29%.

Posted-In: News Rumors M&A Movers


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