Benzinga's M&A Chatter for Tuesday October 4, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, October 4, 2016:

Sompo Japan in Talks to Acquire Endurance Specialty Holdings

The Talks:
Sompo Japan Nipponkoa Insurance is planning purchase all of Endurance Specialty Holdings shares without a tender offer, in a deal valued around $6.5 billion, according to sources as reported by Nikkei on Tuesday. The sources say a deal could be announced as soon as Wednesday. Endurance responded with a statement later, confirming that it is in advanced discussions with Tokyo-based Sompo Holdings regarding a potential deal. Endurance said it does not intend to comment further at this time. Sompo, in a press release on Wednesday in Japan, said it will make a decison on Wednesday on the acquisition of Endurance.

Endurance Specialty Holdings closed at $87.87 on Tuesday, up 35%.

Hearing Black & Decker Has Shown Interest in Sears' Craftsman Division

The Rumor:
Shares of Sears Holdings SHLD spiked to a high of $13.69 following a report that Stanley Black & Decker SWK, Techtronic Industries, Apex Tool Group and Sweden’s Husqvarna AB have shown interest in acquiring the retailer's Craftsman division, according to a report from Bloomberg. The unit could be valued at approximately $2 billion, according to sources. Sears Holdings closed at $12.10 on Tuesday, up 6.42%.

Chevron Said to be in Talks to Acquire Apache for $88/Share

The Rumor:
Chevron CVX is said to be in talks to acquire Apache APA in a cash deal valued at $36 billion dollars or 88 dollars per share, according to sources. The unconfirmed market chatter sent Apache shares soaring to a high of $65.81. Apache investor relations told Benzinga "We do not comment on market rumors."

Apache closed at $63.79 on Tuesday, down 2.26%. 

Team Health Exploring Possible Sale to PE Firm 

The Rumor:
Team Health Holdings Inc.TMH is said to be exploring a potential sale to a private-equity firm, according to sources as reported by the Wall Street Journal on Tuesday. The company is said to be in talks with Blackstone Group LP BX and Bain Capital, according to sources.

AmSurg Corp. AMSG withdrew an offers to acquire Team Health last November after the latter failed to engage in discussions.

Team Health closed at $38.20 on Tuesday, up 16.46%.