Market Overview

Wall Street's M&A Chatter From March 13

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday March 13, 2017:

Intel to Acquire Mobileye for $15.3B, Or $63.54/Share Cash

The Deal:

Intel Corporation (NASDAQ: INTC) and Mobileye NV (NYSE: MBLY) announced a definitive agreement under which Intel would acquire Mobileye for $63.54 per share in cash, for an equity value of approximately $15.3 billion and enterprise value of $14.7 billion.

The transaction, which has been approved by both Boards of Directors, is expected to close within the next nine months.

Mobileye closed at $60.62, up 28.24 percent.

HMS Holdings to Acquire Eliza Corporation for $170M in Cash

The Deal:

HMS Holdings Corp. (NASDAQ: HMSY) and Eliza Corporation announced they have entered into a definitive purchase agreement under which a wholly-owned subsidiary of HMS will acquire Eliza for $170 million in cash. The transaction is expected to close by early Q2 2017.

HMS Holdings closed at $18.66, up $0.58.

Citrix Said to Work With Goldman Sachs on Potential Sale

The Rumor:

Citrix Systems Inc. (NASDAQ: CTXS) has hired Goldman Sachs to field offers from potential buyers, according to sources as reported by Bloomberg. Private equity firms are among the potential buyers, though at its current valuation, it would be difficult to offer a premium, sources said.

Citrix did not immediately respond to requests for comment, while a Goldman Sachs spokesperson declined comment on the rumor.

Citrix Systems closed at $84.93, up $5.40.

Mill Road Capital Offers $20.00/Share to Acquire Lifetime Brands

The Offer:

Mill Road Capital sent a letter to the Board of Directors of Lifetime Brands, Inc. (NASDAQ: LCUT), offering to acquire all shares of the company's stock for $20.00 per share in cash. Mill Road said the offer is not binding and a binding offer will only be created through execution and delivery of definitive agreements following due diligence.

Lifetime Brands closed at $19.00 on Monday, up 30.8 percent.

Posted-In: News Rumors M&A

 

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