Market Overview

Benzinga's M&A Chatter for Thursday September 15, 2016

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday September 15, 2016:

Accenture to Acquire 47.4% Stake in OCTO Technology for €22.50/Share

The Deal:
Accenture (NYSE: ACN) has agreed to purchase a 47.4% stake in OCTO Technology (OTC: OCTOF) from founder and CEO François Hisquin for €22.50 per share and €1.7222 per equity warrant, with the intention to acquire the
remaining shares. Following the closing, Accenture will make a voluntary cash tender offer to acquire the remaining shares and equity warrants at the same prices.

Accenture closed at $110.72 on Thursday, up $0.92.

European Luxury Conglomerate Said to Bid $96/Share for Tiffany

The Rumor:
Shares of Tiffany and Co (NYSE: TIF) rose Thursday on unconfimed market chatter of a potential bid of $96 per share from a European luxury conglomerate. "Sources" said Tiffany had hire an advisor to handle the
takeover approach.

Earlier, Benzinga reported that traders were discussing the higher-than-normal volume in Tiffany over the past three sessions, as DealReported had mentioned a possible stake by Bill Ackman. A Tiffany spokesperson told Benzinga> they had no comment on the Ackman rumor.

Tiffany closed at $72.66 on Thursday, up $2.36.

CIBER Said to be in Late Stage Talks to Sell Itself

The Rumor:
TheDeal.com reported Thursday that CIBER (NYSE: CBR) is in late-stage talks to sell itself, according to sources. The IT company has recently received approaches from potential strategic, private equity buyers with a bid of Up to $3.50/Share, the sources said.

CIBER is said to have hired an investment bank to handle takeover approaches.

CIBER closed at $1.36 on Thursday, up 11.43%.

Posted-In: M&A News Rumors Movers

 

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