Market Overview

Wall Street's M&A Chatter From March 8


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, March 8, 2017.

Novo Nordisk Said to Approach Global Blood Therapeutics Regarding Potential Deal

The Rumor:

Novo Nordisk (NYSE: NVO) is said to have approached Global Blood Therapeutics Inc (NASDAQ: GBT) regarding a potential acquisition, according to sources as reported by Reuters. The Danish drugmaker has seen declining sales from its diabetes drugs and an acquisition of Global Blood Therapeutics would add strength to the company's portfolio, the report indicated

A source unrelated to the Reuters report mentioned a potential $45 per share sale price, though that is unconfirmed.

Global Blood Therapeutics rose as high as $37.45 and closed at $34.25, up 21 percent.

Kraft Heinz Said to Approach Hershey Regarding Potential Acquisition

The Rumor:

Shares of Hershey (NYSE: HSY) rose on unconfirmed market chatter of a potential offer from Kraft Heinz (NYSE: KHC). Last summer, talks between Hershey and Mondelez (NASDAQ: MDLZ) ended when the maker of Oreo and Chips Ahoy offered a maximum of $115 per share, while Hershey was said to be looking for $125.

Hershey closed at $108.57 on Wednesday, up $0.42.

Post Holdings to Bid £1.5B for Weetabix

The Rumor:

Post Holdings (NASDAQ: POST) is said to be one of two remaining bidders Weetabix, according to a report from Sky News. The sources said Post is working hard on deal which could be secured by the end of March.

Revised bids are due in the next few days, the sources said.

Post Holdings closed at $83.54 on Wednesday, up $0.63.

RPX Board Said to Receive Bids from PE

The Rumor:

The RPX (NASDAQ: RPXC) board has received multiple takeover offers from private equity investors in the past few weeks, according a report from IAM. Sources say at least two of the bids have been in writing and "at a meaningful premium."

RPX has not yet responded to the offers, the sources said.

RPX closed at $12.26 on Wednesday, up $1.24.

Posted-In: M&A News Rumors


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