Market Overview

Wall Street's M&A Chatter From January 26

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, January 26, 2017.

Ant Financial to Acquire MoneyGram for $13.25/Share in Cash

The Deal:

MoneyGram International Inc (NASDAQ: MGI) and Alibaba Group Holding Inc (NYSE: BABA) unit Ant Financial Services Group have agreed that MoneyGram will merge with Ant Financial. MoneyGram shareholders will receive $13.25 per share in cash in a transaction valued at approximately $880 million.

The transaction is subject to the approval by MoneyGram stockholders and regulatory approvals, and is expected to close in H2 of 2017.

Moneygram closed Thursday at $12.92, up 8.75 percent.

Verizon Exploring Combination With Charter

The Rumor:

Verizon Communications Inc. (NYSE: VZ) is said to be exploring a merger with Charter Communications, Inc. (NASDAQ: CHTR), according to sources as reported by the Wall Street Journal. Verizon is said to be working with advisors on a potential deal, following an initial approach by Verizon CEO Lowell McAdam, the sources said.

CNBC's David Faber said there were no significant talks taking place between the companies. A Charter spokesperson told Benzinga the company was not commenting on the Wall Street Journal report, while Verizon spokesperson Bob Varettoni tweeted his company's similar position.

Charter Communications closed at $333.15 on Thursday, up 7.36 percent. The Nasdaq cancelled all trades in Charter between 9:08 a.m. and 9:09 a.m. ET, when shares hit a high of $456.62.

Sanofi Said to Explore Acquisition of Tesaro

The Rumor:

Sanofi SA (ADR) (NYSE: SNY) is said to be exploring an acquisition of Tesaro Inc (NASDAQ: TSRO), according to sources as reported by Street Insider. The sources say Morgan Stanley is working as an advisor on a potential deal.

Tesaro closed at $153.36 on Thursday, up 9.54 percent.

Posted-In: News Rumors M&A

 

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