Market Overview

Wall Street's M&A Chatter From December 9-11


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, December 9 through Sunday, December 11.

21st Century Fox Reaches Agreement for Possible Offer to Acquire All Shares of Sky PLC for £10.75/Share in Cash

The Offer:

Twenty-First Century Fox Inc (NASDAQ: FOXA) confirmed Friday it has reached an agreement in principle regarding a possible offer to acquire all of the outstanding shares in Sky (OTC: SKYAY) it does not already own for £10.75 per share in cash less the value of any dividends subsequently paid by Sky. The offer is subject to material offer terms under discussion.

On Sunday, an unnamed major shareholder told Reuters the bid was too low and they would vote against the deal.

21st Century Fox closed at $28.21 on Friday, down 1.5 percent.

TDK in Talks to Acquire Invensense for $12/Share

The Rumor:

Shares of Invensense Inc (NASDAQ: INVN) spiked as high as $11.02 Friday following a report from Reuters that TDK Corp (OTC: TTDKY) is in talks to acquire the U.S. chipmaker who motion sensors for Apple Inc. (NASDAQ: AAPL) and Samsung Electronics (OTC: SSNLF), according to sources. The offer is said to be $12 per share.

Neither Invensense nor TDK responded to requests for comment.

Invensense closed at $10.55 on Friday, up 27.57 percent.

Cheniere Energy Terminates Negotiations to Acquire Cheniere Energy Partners LP Holdings

The Termination:

Cheniere Energy, Inc. (NYSE: LNG) announced Friday it has terminated negotiations with the conflicts committee of the board of directors of Cheniere Energy Partners LP Holdings, LLC (NYSE MKT: CQH) to acquire all of the publicly held shares of Cheniere Partners Holdings not already part of the 80.1 percent stake owned by Cheniere.

Cheniere has determined that no acceptable definitive agreement can be reached with the conflicts committee at this time.

Cheniere Energy Partners LP Holdings closed Friday at $21.55, down 3.02 percent.

Bow Street Proposes to Acquire NorthStar Realty Europe for $13/Share

The Offer:

Hedge fund Bow Street has offered to buy NorthStar Realty Europe Corp (NYSE: NRE) for $13 per share, according to a letter seen by Reuters and reported on Friday. Bow Street is also demanding that NRE sever its management contract with NorthStar Asset Management Group Inc (NYSE: NSAM), the letter indicates.

NorthStar Realty Europe did not immediately respond to a request for comment

NorthStar Realty Europe closed Friday at $12.35, up 3.02 percent.

Posted-In: M&A News Rumors


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