Benzinga's M&A Chatter for Tuesday August 30, 2016
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday August 29, 2016:
Agrium Confirms Merger Talks With Potash
Agrium Inc. (NYSE: AGU) confirmed Tuesday, that it is holding preliminary talks with Potash Corporation of Saskatchewan Inc. (NYSE: POT) regarding a potential merger of equals. Shares were halted following a report from Bloomberg. Agrium says no decision has been made as to whether to proceed with a merger.
Agrium closed Tuesday at $95.76, up 7%. Potash closed at $17.79, up 10.84%.
TPG Could Bid Up to $15/Share for Cypress Semiconductor
Shares of Cypress Semiconductor (NASDAQ: CY) spiked higher Tuesday, following a report from Street Insider that private equity firm TPG Capital could bid as much as $15.00 per share. Betaville reported last month that Cypress had hired Goldman Sachs to explore strategic options following a bid of $14 per share from Summitview Capital. The report indicated that TPG was also interested in a potential bid for the San Jose, California-based company.
Cypress Semiconductor closed at $11.75 on Tuesday, up 5.57%.
Chatter of Google Interest in Netflix
Netflix (NASDAQ: NFLX) shares rose Tuesday, on unconfirmed market chatter of a potential offer from Google (NASDAQ: GOOGL), according to "sources". The "sources" said Google could offer as much as $125 per share for the movie streaming service.
Netflix closed at $97.45 on Tuesday, up $0.15.
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