Market Overview

Wall Street's M&A Chatter From November 14


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday November 14, 2016.

Samsung Electronics to Acquire Harman for $112.00/Share in Cash

The Deal:

Samsung Electronics (OTC: SSNLF) and Harman International Industries, Incorporated (NYSE: HAR) announced Monday they have entered into a definitive agreement under which Samsung will acquire Harman for $112.00 per share in cash, for a total equity value of approximately $8.0 billion. The transaction is expected to close in mid-2017. Harman closed at $109.72 on Monday, up 25.18 percent.

Siemens to Acquire Mentor Graphics for $37.25/Share in Cash

The Deal:

Siemens (OTC: SIEGY) and Mentor Graphics (NASDAQ: MENT) announced a merger agreement under which Siemens will acquire Mentor for $37.25 per share in cash, for an enterprise value of $4.5 billion. Mentor shareholder Elliott Management supports the transaction. Closing of the transaction is expected in Q2 of 2017.

Mentor Graphics closed at $36.29 on Monday, up 18.29 percent.

GL Management, Affiliates Propose to Acquire Sciclone Pharmaceuticals for $11.18/Share in Cash

The Offer:

GL Capital Management GP Limited and its other members of a Consortium have submitted a preliminary non-binding proposal to acquire all of the outstanding share capital of SciClone, not already owned by the Consortium, for $11.18 per share in cash. The Consortium intends to finance the proposed acquisition with a combination of debt and equity capital.

Sciclone Pharmaceuticals closed at $10.35, up 5.08 percent.

Amaya Confirms Non-Binding All-Cash Offer Of C$24/Share from Former CEO David Baazov

The Offer:

Amaya (NASDAQ: AYA) confirmed  it has received a non-binding all cash offer from its former CEO, David Baazov, to acquire Amaya for C$24.00 per common share. The offer includes provisions for a US$200 million deposit into escrow upon execution of a definitive agreement. Amaya's Board of Directors of Amaya, along with the assistance of its advisors, will consider the offer and shareholders are advised not to take any action regarding the offer.

Amaya closed at $15.50, up 13.97 percent.

Report Coach Could be Eyeing Kate Spade

The Rumor:

Shares of Kate Spade (NASDAQ: KATE) traded as high as $18.34 Monday as shareholder Caerus Investors sent a letter to Chairman Nancy Karch, Chairman of the Board of Directors, requesting that the Board consider a sale. The letter said that a strategic investor would pay a substantial premium. Later, DealReporter said Coach (NYSE: COH) might be interested in a takeover of Kate Spade.

Kate Spade closed at $17.93, up 7.88 percent.

Symantec, Permira, TPG Said to Be Among Potential LifeLock Bidders

The Rumor:

Symantec Corp. (NASDAQ: SYMC) and private equity firms Permira and TPG are said to be among the potential bidders for LifeLock Inc. (NASDAQ: LOCK), according to sources reported by Bloomberg. Bloomberg reported last week that LifeLock had hired Goldman Sachs to assist it in a sale. Permira, TPG and LifeLock declined to comment on the report. A spokeswoman for Symantec did not respond to a request for comment.

LifeLock closed at $19.70, and traded at $21 after-hours.

Posted-In: M&A News Rumors


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