Market Overview

Wall Street's M&A Chatter From February 13


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, February 14, 2017.

Syngenta Says U.S. Extends Antitrust Review of ChemChina Deal

The Regulator Review Extension:

Syngenta AG (ADR) (NYSE: SYT) said the U.S. FTC has asked for more time to review the $43 billion takeover by ChemChina, according Syngenta spokesperson Paul Minehart as reported by Bloomberg. The extended review isn't expected to prevent the closing to occur in the first half of 2017 and the FTC still could approve the deal prior to the April 12 EC deadline. Syngenta and ChemChina have presented proposals to regulators satisfy any concerns tha a merger could hurt competition, Minehart said.

Syngenta closed Monday at $86.30, up $0.05.

Allergan to Acquire Zeltiq for $56.50/Share in Cash

The Deal:

Allergan plc (NYSE: AGN) has agreed to aquire ZELTIQ Aesthetics Inc (NASDAQ: ZLTQ) for $56.50 per share, or $2.475 billion. Allergan expects the transaction to close in H2 of 2017.

Zeltiq closed at $55.93 on Monday, up 13.22 percent.

Hearing Icahn Activist Chatter in Gilead

The Deal:

Shares of Gilead Sciences, Inc. (NASDAQ: GILD) rose on unconfirmed market chatter that Carl Icahn was taking a stake in the biopharmaceutical company. A similar rumor surfaced last month.

Gilead closed at $67.65 on Monday, up 1.94 percent.

Restaurant Brands Seeking Acquisition of Popeyes Louisiana Kitchen

The Rumor:

Restaurant Brands International Inc (NYSE: QSR) is said to have approached Popeyes Louisiana Kitchen Inc (NASDAQ: PLKI) regarding a potential takeover, according to sources as reported by Reuters. No purchase price has been agreed upon, the sources said.

Restaurant Brands International was formed in 2014 when Tim Hortons merged with Burger King.

Popeyes Louisiana Kitchen closed at $67.65 on Monday, up 7.24 percent.

IDT to Acquire Gigpeak for $3.08/ Share in Cash

The Deal:
Integrated Device Technology Inc (NASDAQ: IDTI) and GigPeak Inc (NYSE MKT: GIG) announced they have signed a definitive agreement for IDT to acquire GigPeak for $3.08 per share in cash, or approximately $250 million, via a tender offer. The transaction is not subject to financing and expected to close during Q2 of 2017.

Gigpeak closed at $2.71 on Monday, and traded as high as $3.10 after-hours.


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Posted-In: M&A News Rumors