Market Overview

Wall Street's M&A Chatter From January 11


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday January 11, 2017.

Calamos Asset Management Agrees Definitively to be Acquired by Founder John Calamos, CEO John Koudounis for $8.25

The Deal:

Calamos Asset Management, Inc (NASDAQ: CLMS) has executed definitive agreement to be acquired by founder John P. Calamos, Sr. and CEO John Koudounis. Under the December 19, 2016 announcement, the definitive agreement provides for the Acquirer to first commence a tender offer to acquire all of the outstanding shares of Class A common stock of CAM for $8.25 per share in cash.

The transaction is expected to close during Q1 of 2017.

Calamos Asset Management closed Wednesday at $8.53, up $0.04.

FTC Expected to Approve Walgreen's-Rite Aid Deal Before Trump is Sworn in as President

The Rumor:

The FTC is working to approve the $9.4 billion merger of Walgreens Boots Alliance Inc (NASDAQ: WBA) and Rite Aid Corporation (NYSE: RAD) prior to the January 20 inauguration of Donald Trump, according to sources as reported by the New York Post late Tuesday. A source said it's clear that FTC Commissioner Maureen Ohlhausen won't block the deal.

Fred's, Inc. (NASDAQ: FRED) agreed last month to acquire approximately 900 Rite Aid Stores, as a prerequisite of getting regulators to approve the deal.

Rite Aid closed at $8.60 on Wednesday, up 3.37 percent.

Nexstar Broadcasting Obtains FCC Approval for Media General Deal

The Approval:

Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced that the FCC has granted the applications and related waiver requests seeking consent to transfer control of licenses held by subsidiaries of Media General, Inc. (NYSE: MEG) from the shareholders of Media General to Nexstar. The FCC also granted the divestiture applications that have been filed to bring Nexstar into compliance with the local and national television ownership rules.

Nexstar and Media General entered into a merger agreement last January for Nexstar to acquire all outstanding shared of Media General for $4.6 billion in cash and stock.

Media General closed at $19.28 on Wednesday, up 4.05 percent.

Posted-In: M&A News Rumors


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