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Wall Street's M&A Chatter From January 3

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, January 3, 2017.

Icahn Enterprises Increases Tender Offer for Federal Mogul to $10/Share

The Increased Offer:

Icahn Enterprises LP (NASDAQ: IEP) announced an increase in the purchase price to be paid for all of the outstanding shares of common stock of Federal-Mogul Holdings Corp (NASDAQ: FDML) to $10.00 per share in cash. That's an increase from the previous offer of $9.25 per share.

Icahn Enterprises is extending the Offer to 12:00 midnight, New York City time, on January 17, 2017. All other terms and conditions remain unchanged.

Icahn Enterprises says this is their best and final offer price and that no further increase to the offer price or extension to the Offer will be made.

Federal Mogul closed Tuesday at $10.13, down 1.75 percent.

Delek US Holdings to Acquire Remaining Outstanding Shares of Alon USA for Enterprise Value Of ~$2.8B

The Deal:

Delek US Holdings, Inc. (NYSE: DK) and Alon USA Energy, Inc. (NYSE: ALJ) announced an agreement under which Delek US will acquire all of the outstanding shares of Alon common stock which Delek does not already own for $12.13 per share or a combined enterprise value of approximately $2.8 billion in an all-stock transaction. The transaction is expected to close in H1 of 2017.

Alon closed Tuesday at $12.64, up $0.36.

Vector Capital, Clearlake Proposed to Acquire All Shares of Tangoe Common Stock for $7.00/Share

The offer:

Clearlake Capital Group, L.P. and Vector Capital Management, L.P. reported in an amended 13D filing that they submitted a non-binding indication of interest under which Vector and Clearlake proposed to acquire all of the issued and outstanding shares of common stock of Tangoe for $7.00 per share. Tangoe confirmed receipt of that offer and also an offer of $7.50 per share in cash from Marlin Management Company.

Tangoe's Board of Directors will review the proposals and other potential alternatives and announced it has retained Stifel as financial advisor to assist in the efforts.

Tangoe closed at $7.98 on Tuesday, up 1.27 percent.

 

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Posted-In: M&A News Rumors

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