Market Overview

Wall Street's M&A Chatter From February 3-6

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, February 3, through Sunday, February 5, 2017.

Hudson's Bay Approached Macy's for Takeover

The Rumor:

Hudson's Bay Co. has contacted Macy's Inc (NYSE: M) regarding an acquisition of the retailer, according to sources as reported by the Wall Street Journal on Friday. The sources said in addition to an acquisition, there might be a deal involving Macy's real estate.

The New York Post reported on Thursday that Hudson's Bay was a potential acquirer. CNBC's David Faber reported later on Friday that his sources said the Toronto-based Hudson's would need an equity partner and that was "unlikely."

Macy's closed Friday at $32.69, up 6.41 percent.

Hearing Takeover Chatter in Acadia Pharmaceuticals

The Rumor:

Shares of Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) spiked higher Friday on unconfirmed takeover chatter. "Sources" say the biotech company was approached by AstraZeneca (NYSE: AZN). An Acadia spokesperson told Benzinga the company doesn't comment on rumors in the marketplace.

Acadia closed at $36.61 on Friday, up 3.92 percent.

LabCorp in Talks to Acquire Contract Researcher PPD for More than $8B

The Rumor:

Laboratory Corp. of America Holdings (NYSE: LH) is in talks to acquire contract researcher Pharmaceutical Product Development LLC for more than $8 billion, according to sources as reported by Reuters on Friday. In addition to LabCorp, buyout firms are also interested in PPD, the sources said.

PPD is owned by Carlyle Group LP (NASDAQ: CG) and Hellman & Friedman LLC, and they declined comment on report, as did PPD and LabCorp.

LabCorp closed at $137.69 on Friday, up 10.95 percent.

Posted-In: M&A News Rumors

 

Related Articles (ACAD + AZN)

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