Market Overview

Wall Street's M&A Chatter From December 27


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday December 27, 2016.

Groupe Casino Offers to Purchase all Outstanding Ordinary Shares Of Cnova for $5.50/Share in Cash

The Deal:

Casino, Guichard-Perrachon S.A. (OTC: CGUSY) announced it has commenced an offer to acquire all outstanding ordinary shares of Cnova NV (NASDAQ: CNV) for $5.50 per share in cash. The Offer is not subject to any conditions.

Cnova closed at $5.48 on Tuesday, unchanged.

Pacific Special Acquisition Corp to Merge with Borqs International, Pacific to Distribute $303M of Shares at $10.40/Share

The Deal:

Pacific Special Acquisition Corp (NASDAQ: PAACU) announced it has signed a definitive merger agreement with Borqs International Holding Corp. Pacific will issue ordinary shares to Borqs shareholders at $10.40 per Pacific share a valuation of $303 million.

Pacific Special Acquisition closed Tuesday at $11.05, up $0.24.

FTC Consent Order Requires Abbott Labs to Divest Medical Device Business Ahead of Proposed $25B Acquisition of St. Jude Medical

The Consent Order:

Abbott Laboratories (NYSE: ABT) has agreed to divest two medical device businesses to settle FTC charges that its proposed $25 billion acquisition of St. Jude Medical, Inc. (NYSE: STJ) would likely be anti-competitive. The proposed consent order requires the parties to divest to Tokyo-based medical device maker Terumo Corporation all rights and assets related to St. Jude’s vascular closure device business and Abbott’s steerable sheath business, and to assist Terumo with establishing its manufacturing capabilities.

The FTC had argued that a combined Abbott-St Jude company would control more than 70 percent of the market for vascular closure devices and eliminate competition in the steerable sheaths market.

St. Jude Medical closed Tuesday at $80.15, up $0.32.

Posted-In: M&A News Rumors


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