Market Overview

Wall Street's M&A Chatter From December 13

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday December 13, 2016.

Icahn Chatter in Hertz

The Rumor:

Shares of Hertz Global Holdings (NYSE: HTZ) rose sharply Tuesday on unconfirmed market chatter that shareholder Carl Icahn is seeking to acquire all shares of the car rental company. Ichan is said to have discussed a bid for Hertz with other parties.

After the close, Hertz reported in an 8K filing that Kathryn Marinello would become CEO effective January 3, 2017. Icahn told Reuters that Marinello was "the right person to lead Hertz forward.

Icahn reported an increase in his Hertz stake from 33.77 percent to 35.27 percent in November.

Hertz closed at $25.13 on Tuesday, up 10.56 percent.

Spartan Motors to Acquire Fire Apparatus Maker Smeal for $36.3M

The Deal:

Spartan Motors, Inc. (NASDAQ: SPAR) announced its wholly-owned subsidiary, Spartan Motors USA, Inc., has entered into a definitive agreement to acquire Smeal Fire Apparatus Co. for $36.3 million. The transaction is expected to close in January 2017.

Spartan Motors closed at $9.35 on Tuesday, up 2.75 percent.

JNJ Ends Talks With Actelion

The End of Talks:

Johnson & Johnson (NYSE: JNJ) confirmed it has ended discussions with Actelion Pharmaceuticals Ltd. (OTC: ALIOF) regarding a potential deal. JNJ said it was not able to reach an agreement to create adequate value for its shareholders.

Actelion confirmed that J&J has withdrawn from discussions and is engaged in discussions with another party regarding a possible strategic transaction.

JNJ closed Tuesday at $115.89, up $0.53.

Posted-In: M&A News Rumors

 

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