Market Overview

Benzinga's M&A Chatter for Monday October 24, 2016


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday October 24, 2016:

The New York Times Confirms Purchase of The Wirecutter, The Sweethome

The Deal:
The New York Times Company (NYSE: NYT) today announced that it has acquired  product-recommendation services The Wirecutter and The Sweethome in all-cash transaction that closed on October 24, 2016. No financial details were provided in the press release, but <i>Re/Code</i> reported a purchase price of $30 million.  

The New York Times closed at $11.50 on Monday, down $0.05.


TD Ameritrade to Acquire Scottrade for $4B in Cash, Stock

The Deal:

TD Ameritrade Holding Corporation (Nasdaq: AMTD) and Scottrade Financial Services, Inc. today announced that they have entered into a definitive agreement for TD Ameritrade to acquire Scottrade in a cash and stock transaction valued at $4 billion. That transaction will follow TD Bank (NYSE: TD) acquiring Scottrade Bank from Scottrade Financial Services for $1.3 billion in cash consideration.

The deal is expected to close by September 30, 2017.

TD Ameritrade closed at $35.46 on Monday, down 4.37%.


Schneider Electric Denies Rumours on a Possible Offer on Rockwell Automation

The Denial:
Schneider Electric (OTC: SBGSY), noting recent speculation regarding possible takeover bid for Rockwell Automation (NYSE: ROK), categorically denied these rumours in a statement released on Monday. On Friday, unconfirmed takeover chatter surfaced indicating a possible $18 billion takeover of Rockwell by Schneider.

Rockwell Automation closed Monday at $119.67, down 2.7%.


Related Articles (AMTD + NYT)

View Comments and Join the Discussion!

Posted-In: M&A News Rumors Movers