Market Overview

Wall Street's M&A Chatter From January 23


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, January 23, 2017.

Aetna's $34B Humana Takeover Blocked By Judge As Anti-Competitive

The Rumor:

U.S. District Judge John D. Bates blocked the proposed $34 billion merger between Aetna Inc (NYSE: AET) and Humana Inc (NYSE: HUM) due to antitrust issues. Bates said the DoJ proved that a merger of the healthcare companies would pose a threat to competition.

An Aetna Spokesman said the company is considering appeal over ruling against deal "after putting forward a compelling case."

Aetna closed Monday at $119.20, down 2.72 percent.

Sprint Acquires 33% Of Jay Z's TIDAL

The Deal:

TIDAL and Sprint Corp (NYSE: S) announced that Sprint will acquire 33 percent of TIDAL, while Jay Z and the artist-owners will continue to run ther TIDAL service. Sprint CEO Marcelo Claure will join TIDAL's Board of Directors.

Under the agreement, whose terms were not disclosed, TIDAL and its artists will produce exclusive content for current and new Sprint customers.

Sprint closed at $9.18 on Monday, up 2.74 percent.

Yahoo Confirms its Acquisition by Verizon will Close in Q2

The Confirmation:

Yahoo! Inc. (NASDAQ: YHOO) confirmed in its Q4 earnings release that the acquisition by Verizon Communications Inc (NYSE: VZ) will close in Q2 2017. Yahoo said the "opportunities ahead with Verizon look bright."

Yahoo closed at $42.40 on Monday, up $0.35.

Icahn Enterprises Completes Acquisition of Federal-Mogul

The Deal:

Federal-Mogul Holdings Corp (NASDAQ: FDML) and Icahn Enterprises LP (NASDAQ: IEP) announced that Icahn Enterprises has completed its acquisition of Federal-Mogul for $10.00 per share in cash. Icahn increased his tender offer for Federal Mogul to $10.00 from $9.25 per share on January 3.

Federal-Mogul closed at $9.98 on Monday, down $0.01.

Posted-In: M&A News Rumors


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