Market Overview

Wall Street's M&A Chatter From January 5


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday January 5, 2017:

Stanley Black & Decker to Buy Craftsman from Sears for ~$900M

The Deal:

Stanley Black & Decker, Inc. (NYSE: SWK) and Sears Holdings Corp (NASDAQ: SHLD) have reached an agreement under which Stanley Black & Decker will purchase the Craftsman brand from Sears for payments pf $525 million at closing, $250 million at end of year three, plus annual payments on new Stanley Black & Decker Craftsman sales through year 15, for a value of approximately $900 million.

The transaction is expected to close during 2017.

Sears closed Thursday at $10.39, up 11.02 percent.

Gartner to Acquire CEP for $2.6B Cash and Stock

The Deal:

Gartner Inc (NYSE: IT) and CEB Inc. (NYSE: CEB) have entered into a definitive agreement under which Gartner will acquire all of the outstanding shares of CEB in a cash and stock transaction valued at approximately $2.6 billion, with a total enterprise value of approximately $3.3 billion. CEB shareholders will receive $77.25 per share, consisting of $54.00 in cash and 0.2284 shares of Gartner common stock for each share of CEB common stock they own.

The transaction is expected to close in H1 of 2017.

CEB closed at $74.85 on Thursday, up 20.92 percent.

Meredith Contacts Time Regarding Interest in Merger

The Rumor:

Meredith Corporation (NYSE: MDP) is said to have contacted Time Inc (NASDAQ: TIME) to express interest in a potential merger, according to sources as reported by Bloomberg. A group headed by Edgar Bronfman Jr. offered $18.00 per share, according to the NY Post and that offer was rejected.

Other potential buyers have contacted Time regarding a potential deal, a source said.11 percent in New York trading. Time’s board of directors will meet later this month to discuss its options.

Spokespersons for Time and Meredith declined comment.

time closed at $18.95 on Thursday, up 2.71 percent.

Google Acquires Limes Audio

The Deal:

Google (NASDAQ: GOOG) announced the acquisition of Limes Audio, which created TrueVoice two-way communication audio processing software. Terms of the deal were not disclosed.

Google closed at $813.02 on Thursday, up $5.25.

Posted-In: M&A News Rumors


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