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Benzinga's M&A Chatter for Monday August 22, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday August 22, 2016:


Pfizer to Acquire Medivation for $81.50/Share in Cash

The Deal:
Pfizer Inc. (NYSE: PFE) and Medivation, Inc. (NASDAQ: MDVN) confirmed Monday that they have entered into a definitive merger agreement under which Pfizer will acquire Medivation for $81.50 a share in cash for a total enterprise value of approximately $14 billion. Pfizer will commence a cash tender offer to purchase all of the outstanding shares of Medivation common stock for $81.50 per share. Pfizer expects the deal to be completed in Q3 or Q4 of 2016.

Medivation closed Monday at $80.42, up $19.74%.


Sky-mobi Limited Enters into Definitive Agreement for Going Private Transaction @$2.20/ADS

The Going Private Transaction:
Sky-mobi Limited (NASDAQ: MOBI) announced Monday that it has entered into an Agreement and Plan of Merger with Amber Shining Investment Limited and Power Rich Limited. Under the agreement, each of Sky-mobi's common shares and ADS's will be cancelled and cease to exist in exchange for the right to receive $0.275 per Share or $2.20 per ADS.

Sky-mobi closed at $2.03 on Monday, up 6.84%.


CST Brands to be Acquired Alimentation Couche-Tard for $4.4B

The Deal:
Alimentation Couche-Tard Inc. announced Monday, a definitive merger agreement with CST Brands, Inc. (NYSE: CST) under which Couche-Tard would acquire CST $48.53 per share in cash, for a total enterprise value of approximately US $4.4 billion. The transaction is expected to close in early 2017.

CST closed at $47.45 on Monday, down $0.06.


Microsoft to Acquire Genee

The Deal:
Microsoft (NASDAQ: MSFT) has signed an agreement to acquire artificial-intelligence-powered scheduling service, Genee. Financial terms were not disclosed.

Microsoft closed at $57.67 on Monday, up $0.05.

Posted-In: News Rumors M&A Movers


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