Market Overview

Benzinga's M&A Chatter for Tuesday, October 18, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, October 18, 2016:

MakeMyTrip, ibibo Group to Consolidate Indian Travel Businesses

The Deal:
MakeMyTrip Limited (NASDAQ: MMYT) and ibibo Group have agreed to combine the two travel businesses in India, under MMYT. Prior to closing , the $180 million, 5-year convertible notes issued by MakeMyTripd to (NASDAQ: CTRP) in January 2016 will be converted into common stock, giving Ctrip about 10% stake in the combined company.

The transaction is expected to close by the end of December 2016.

MakeMyTrip closed at $29.45 on Tuesday, up 44%.


Hearing Juniper LBO Chatter

The Rumor:
Shares of Juniper Networks (NASDAQ: JNPR) rose to a high of $23.14 Tuesday, following a report that Carlyle Group (NASDAQ: CG) was working on a LBO of the netwrrking company. "Sources" said a deal could happen at $28 per share.

Carlyle Group declined comment on the rumor. A Juniper Networks spokesperson said the company does not comment on rumors or speculation.

Juniper Networks closed at $22.85 on Tuesday, up 1.87%.


Blackstone in Lead to Buy Team Health

The Rumor:
Blackstone Group (NYSE: BX) is said be the favorite to acquire Team Health Holdings (NYSE: TMH), according to sources as reported by Reuters on Tuesday. The sources said Blackstone is negotiating the final terms for a deal.

Blackstone and Team Health declined to comment on the Reuters report.

Team Health closed Tuesday at $40.25, up 7.19%.


Unconfirmed LBO Chatter in Campbell Soup

The Rumor:
Shares of Campbell Soup (NYSE: CPB) spiked to a high of $55.20 Tuesday, on unconfirmed market chatter that Coca-Cola (NYSE: KO) is working with 3G Captial to structure a take-over of Campbell. Sources say a potential deal could be value at approximately $66 per share or $20 Billion.

Last year a report surfaced that the Dorrance family, led by 17% shareholder Mary Alice Dorrance Malone, had hired an advisor to handle a potential sale of the company.

Campbell Soup closed Tuesday at $54.41, up 1.36%.

Posted-In: News Rumors M&A


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