Market Overview

Wall Street's M&A Chatter From November 11-13

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, November 11 through Sunday November 13, 2016.

LifeLock Said to Hire Goldman Sachs for Take Private Bid

The Rumor

Shares of LifeLock Inc (NASDAQ: LOCK) spiked higher Friday, following a report from Bloomberg that the provider of identity-theft protection services, is in talks about being taken private. A deal could value LifeLock at about $2 billion, sources said.

A LifeLock Spokesperson told Benzinga "as a matter of policy, we do not comment on rumors or speculation."

Paul Singer's Elliott Associates reported a 5.1 percent stake in LifeLock in June.

LifeLock shares spiked to a high of $20.03 and closed at $19.12 on Friday, up 8.39 percent.

Belden Proposes to Acquire Digi International for $13.82/Share in Cash; Digi Rejects Offer

The Rejected Offer

Belden Inc. (NYSE: BDC) announced Friday that it submitted a proposal to the Board of Directors of Digi International Inc. (NASDAQ: DGII) to acquire Digi for for $13.82 per share in cash in a transaction valued at approximately $380 million.

Digi International confirmed Sunday a receipt of the unsolicited, conditional and non-binding proposal from Belden and said its Board ofDirectors unanimously rejected the proposal on November 8 and again on November 11, 2016, saying it significantly undervalues Digi and is not in the best interest of the company and its shareholders.

Digi International closed at $18.69 on Friday, up 3.6 percent.

Loreal Said to have Interest in Coty Takeover

The Rumor

Shares of Coty Inc (NYSE: COTY) rose as high as $19.29 Friday, as DealReporter said the New York City-based beauty products company for France's L'Oreal or even Estee Lauder (NYSE: EL). Coty completed its merger With Procter & Gamble's (NYSE: PG) specialty beauty business last month, in a deal valued at $12.5 billion.

JAB Holding Company is Coty's largest shareholder.

Coty closed Friday at $18.66, up $0.11.

Eagle Pharmaceuticals to Acquire Arsia Therapeutics for $30M Upfront in Cash, Stock

The Deal

Eagle Pharmaceuticals (NASDAQ: EGRX) announced Friday it signed a definitive agreement to acquire Arsia Therapeutics for $30 million at closing, including $27.3 million in cash and $2.7 million in Eagle common stock. In addition, Eagle will pay up to $48 million upon the completion of certain milestones.

The deal is expected to close within the next week, subject to customary closing conditions.

Eagle Pharmaceuticals closed Friday at $79.50, down 5.6 percent.

Siemens Said to be Near Deal to Acquire Mentor Graphics for $4.5B to $4.6B

The Rumor

Siemens AG (OTC: SIEGY) is close to a deal to acquire Mentor Graphics Corp (NASDAQ: MENT) for $4.5 billion to $4.6 billion in cash, according to a report from Reuters on Sunday. A deal could be announced as early as Monday.

Elliott Associates reported a 3% stake in Mentor in a 13D filing in late September. Reuters reported last month that Mentor had hired Bank of America to assist it in exploring strategic alternatives.

Siemens and Mentor Graphics were not available for comment

Siemens and Mentor Graphics closed Friday at $30.68, up 1.79 percent.

Posted-In: M&A News Rumors

 

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