Market Overview

Wall Street's M&A Chatter From January 19

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, January 19, 2017.

GE Rumored in Deal for 3D Systems

The Rumor:

Shares of 3D Systems Corporation (NYSE: DDD) rose on a DealReporter article mentioning a potential bid from General Electric (NYSE: GE). Last week, a similar rumor surfaced and sources said that 3D had hired investment bankers to field takeover interest.

3D Systems closed Thursday at $17.00, up 5.59 percent.

Intereconomia Reporting Teva Rumored to Acquire Perrigo for $15B

The Rumor:

Teva Pharmaceutical Industries Ltd (ADR) (NASDAQ: TEVA) will buy Perrigo Company plc Ordinary Shares (NYSE: PRGO) for $15 billion, according to a report from Intereconomia. Teva's offer would value Perrigo stock at $103 per share, sources said.

Starboard Value reported a 6.2 percent stake in Perrigo in a 13D filing in November.

DealReporter said last August that Mylan (NYSE: MYL) was ready to bid once for the manufacturer of OTC and prescription pharmaceuticals. Perrigo rejected Mylan's $26 billion bid in November 2015.

Perrigo closed at $76.47 on Thursday, up $0.01.

Judge Said to Block Anthem-Cigna Merger

The Rumor:

A federal judge is expected to block the proposed $54 billion merger between Anthem Inc (NYSE: ANTM) and Cigna Corporation (NYSE: CI), according to sources as reported by the New York Post. Sources said U.S. District of Columbia Judge Amy Berman Jackson will rule against the merger on antitrust concerns.

Anthem announced earlier in a filing that it was extending the termination date for the pending merger, through and including April 30, 2017 and would appeal a negative ruling.

Cigna said in a statement that it had received notice of Anthem’s extension and that it would evaluate its options after the court ruling.

Cigna closed at $144.16 on Thursday, up 1.54 percent.

Hearing Unconfirmed Takeover Chatter in Alkermes

The Rumor:

Shares of Alkermes Plc (NASDAQ: ALKS) rose on unconfirmed takeover chatter. Merck & Co., Inc. (NYSE: MRK) was said to be ready to bid $12 billion for Alkermes last June. The following day, Alkermes CEO Richard Pops told the Wall Street Journal his company was not for sale.

Alkermes closed at $56.08 on Thursday, up $0.25.

Posted-In: M&A News Rumors

 

Related Articles (ALKS + ANTM)

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