Market Overview

Wall Street's M&A Chatter From February 15

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, February 15, 2017.

Walmart Acquires Moosejaw for $51M

The Deal:

Wal-Mart (NYSE: WMT) has acquired Michigan-based outdoor retailer Moosejaw for $51 million. Walmart said, "Moosejaw will continue to operate its site and stores as it has in the past, and will be run as a standalone and complementary brand to our other e-commerce sites."

The deal closed on February 13, 2017.

Walmart closed Wednesday at $68.69, up $0.03.

Dealreporter Reports Possible Procter & Gamble Interest in Church & Dwight

The Rumor:

Shares of Church & Dwight (NYSE: CHD) rose to a high of $49.23 on a DealRepoter story of possible takeover interest from Proctor & Gamble (NYSE: PG). Last May, a report from Negocios.com said Reckitt Benckiser would offer $23 billion for C&D. That's twice the current market cap of $12.62 billion.

Church & Dwight closed at $48.79 on Wednesday, up $0.26.

Verizon Near Deal to Acquire Yahoo's Core Internet With Price Cut Up to $300M

The Rumor:

Verizon Communications Inc (NYSE: VZ) is said to be close to a revised deal to acquire Yahoo! Inc.'s (NASDAQ: YHOO) core internet business for $250 million to $350 million below the original purchase price of $4.83 billion, according to multiple reports. Following reports of major data breaches, Verizon has sought a reduction in the purchase price for the Yahoo assets.

Sources say the revised deal will involve Verizon and Yahoo sharing the liability from potential lawsuits related to these data breaches.

A Verizon representative declined to comment, while Yahoo did not immediately respond.

Yahoo closed at $45.65 on Wednesday, up 1.4 percent.

Occidental Said to Be Seeking Buyer for S. Texas Assets for ~$500M

The Rumor:

Occidental Petroleum Corporation (NYSE: OXY) is said to be seeking a buyer for approximately 180,000 acres in S. Texas, according to sources as reported by Bloomberg. Occidental is working with Citigroup to handle the sale of the assets, valued at approximately $500 million, the sources said.

Spokespersons for Occidental Petroleum and Citigroup declined comment on the report.

Occidental Petroleum closed at $67.21 on Wednesday, up $0.05.

Posted-In: M&A News Rumors

 

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