Market Overview

Wall Street's M&A Chatter From November 10

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday November 10, 2016.

Suspect Filing Shows $12.50/Share Offer for FitBit

The Rumor:

A company out of China, ABM Capital, in a filing Wednesday reported an offer of $12.50 per share for FitBit Inc (NASDAQ: FIT). Shares were volatile as chatter circulated among traders that the offer might night be legitimate.

FitBit released a statement to Benzinga, indicating that the company had not received an offer from ABM or from anyone.

FitBit shares spiked to a high of $9.28 and closed at $8.86 on Thursday, up 3.63 percent.

Traders Circulate Chatter of Potential Pulte-Lennar Tie-up

The Rumor:

Shares of homebuilder PulteGroup, Inc. (NYSE: PHM) spiked higher Thursday on unconfirmed market chatter it may acquire Lennar (NYSE: LEN). No details were mentioned in note circulated by traders.

DealReporter said in September that Beazer Homes USA (NYSE: BZH) would be the next homebuilder to be acquired.

Pulte Group closed at $18.69 on Thursday, up 3.6 percent.

HollyFrontier could be back on Tesoro's takeover radar

The Rumor:

Shares of HollyFrontier Corporation (NYSE: HFC) spiked as high as $27.54 in early trading on Thursday, on a report from DealReporter that Tesoro (NYSE: TSO) could be interested once again in a potential takeover of the Dallas-based petroleum refiner.

Tesoro and HollyFrontier had held talks in Q1 of 2015, as reported at that time by Reuters.

HollyFrontier closed Thursday at $26.06, down $0.16.

 

Related Articles (FIT + BZH)

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Posted-In: M&A News Rumors

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