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Benzinga's M&A Chatter for Monday September 12, 2016

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday September 12, 2016:

Agrium and Potash to Merge

The Deal:
Agrium Inc. (NYSE: AGU) and Potash Corporation of Saskatchewan Inc. (NYSE: POT) announced Monday, that they have agreed to combine in a merger of equals. Under the agreement, a new parent company, to be named later, will be formed to own both companies. PotashCorp shareholders will receive 0.400 common shares of the new company for each common share of PotashCorp they own, while Agrium shareholders will receive 2.230 common shares of the new company for each common share of Agrium they own.

The transaction is expected to close during mid-2017.

Potash closed Monday at $16.76, down 1.24. Agrium closed down 2.7% at $92.64

 

HP Acquires Samsung Electronics Printer Business in Deal Valued at $1.05B The Deal:
HP Inc. (NYSE: HPQ) announced Monday, a definitive agreement to acquire Samsung Electronics Co., Ltd.'s (OTC: SSNLF) printer business in a deal valued at $1.05 billion. HP said it is investing to "disrupt this category by replacing copiers with superior multifunction printer (MFP) technology."

The deal is expected to close within 12 months pending regulatory review.

HP closed at $59.76 on Monday, down $0.07.

 

OpenText to Acquire Dell EMC's Enterprise Content Division, including Documentum for $1.62B

The Deal:
Open Text Corporation (NASDAQ: OTEX) announced Monday, that it has entered into a definitive agreement to acquire Dell EMC's Enterprise Content Division (ECD), including Documentum for $1.62 billion. The deal is expected to close in 90 to 120 days.

OpenText closed at $65.15 on Monday, up 9%.

 

Horizon Pharma to Acquire Raptor Pharmaceutical for $9/Share in Cash

The Deal:
Horizon Pharma plc (NASDAQ: HZNP) and Raptor Pharmaceutical Corp. (NASDAQ: RPTP) announced Monday, the companies have entered into a definitive agreement under which Horizon Pharma will acquire all of the issued and outstanding shares of Raptor Pharmaceutical common stock for $9.00 per share in cash. The implied fully diluted equity value is approximately $800 million.

The transaction is expected to close in Q4 of 2016.

Raptor Pharmaceutical closed at $8.98 on Monday, up 20.54%.

 

Renesas Electronics to Acquire Intersil for $22.50/Share in Cash

The Deal:
Renesas Electronics Corporation (OTC: RNECY) and Intersil Corporation (NASDAQ: ISIL) announced Monday, they have signed a definitive agreement for Renesas to acquire Intersil for $22.50 per share in cash, for an aggregate equity value of approximately $3.2 billion. The deal is expected to close in H1 of 2017.

Intersil closed at $19.76 on Monday, up 2.07% and traded at $21.70 after hours.

Posted-In: M&A News Rumors Movers

 

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