Market Overview

Wall Street's M&A Chatter From February 9

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, February 9, 2017.

Verizon Said to Approach DISH Network Regarding Potential Deal

The Rumor:

Shares of DISH Network Corp (NASDAQ: DISH) spiked to a high of $61.37 as chatter circulated that Verizon Communications Inc. (NYSE: VZ) could have an interest in bidding for the Satellite TV provider. "Sources" mentioned a potential offer of $80 per share.

A Dish tie-up with Verizon has been rumored since AT&T (NYSE: T) announced it was acquiring DirecTV back in May 2014.

Dish closed Thursday at $61.07, up $0.35.

Court Blocks Anthem-Cigna Merger

The Court Ruling:

The U.S. District Court Judge Amy Berman Jackson issued an order on Wednesday, blocking the proposed $48 billion merger of Anthem Inc (NYSE: ANTM) and Cigna Corporation (NYSE: CI). The deal, had it been approved, would have created the largest U.S. health insurer

Cigna said after the decision it would "carefully review the opinion and evaluate its options in accordance with the merger agreement." Anthem said it "promptly intends to file a notice of appeal and request an expedited hearing of its appeal to reverse the court's decision."

Anthem closed at $161.68.22 on Thursday, up 1.94 percent, while Cigna rose $0.20, to close at $148.14.

Saudi Arabia’s PIF Denies it's Considering Stake in Six Flags

The Rumor:

Saudi Arabia denied that its Public Investment Fund is considering a stake in Six Flags Entertainment Corp. (NYSE: SIX), according to sources as reported by Bloomberg. Six Flags had begun discussions in June 2016 with the Saudi government regarding the development of Six Flags-branded theme parks.

Six Flags closed at $60.48 on Thursday, down $0.32.

Posted-In: M&A News Rumors

 

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