Market Overview

Wall Street's M&A Chatter From March 15


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

MSCI Denies Offer from S&P

The Rumor:

Shares of MSCI Inc (NYSE: MSCI) surged higher as the UK's Evening Standard reported that S&P Global offered $120 per share for the provider of equity, fixed income and hedge fund stock market indexes, which was spun out from Morgan Stanley in 2007. Sources said MSCI shareholders are seeking $130 per share.

MSCI responded to the report in a press release and said, "[W]e believe such reports are incorrect. We are not in discussions with any third party, and we have not received any offer or indication of interest. We do not anticipate making any further comment regarding these rumors."

MSCI closed at $99.31 on Wednesday, up $2.98.

Capital Bank Considering Sale After Approach

The Rumor:

Capital Bank Financial Corp (NASDAQ: CBF) is working with advisers to explore a sale after receiving an unsolicited approach, according to sources as reported by Bloomberg. Capital Bank has been in contact with potential buyers, the sources said.

A representative for the Capital Bank declined to comment on the rumor.

Capital Bank closed at $43.70, up $2.80, and traded at $44.73 after-hours.

AT&T Announces European Commission Approved Time Warner Deal

The Approval:

The European Commission, the executive body of the European Union, has approved AT&T's (NYSE: T) pending acquisition of Time Warner (NYSE: TWX). AT&T said the global clearance process is on track.

U.S. regulatory approval is still required.

Time Warner closed at $98.74, up $0.36.

Liberty Global, Vodafone Said to be Back in Talks

The Rumor:

Executives from Vodafone Group Plc (ADR)(NASDAQ: VOD) and Liberty Global (NASDAQ: LBTYA) are said to be meeting again, according to sources as reported by the UK's The Register. The meetings have taken place at Vodafone's Newbury headquarters, sources said.

One source said Vodafone may sell its UK operation to Liberty, while Liberty sells its German unit to Vodafone. Vodafone and Liberty Global declined comment on the report.

Financial Times later reported the companies were not in talks.

Liberty Global closed at $36.78, up $0.99. Vodafone closed at $25.88, up $0.68.

Virtu Offers to Acquire KCG Holdings for $18.50-20.00/Share

The Offer:

KCG Holdings, Inc. (NYSE: KCG) confirmed an earlier Wall Street Journal report that it has received an unsolicited proposal from Virtu Financial Inc (NASDAQ: VIRT) to acquire all the outstanding shares of KCG's common stock for $18.50-$20.00 per share in cash.

KCG said its Board of Directors is reviewing Virtu's proposal in consultation with its financial and legal advisors.

KCG closed at $16.9, up $3.17, and traded at $17.75 after-hours.


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Posted-In: M&A News Rumors