Market Overview

Wall Street's M&A Chatter From March 21


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, March 21, 2017.

Hearing Dealreporter Saying Interested In GNC

The Rumor:

Shares of GNC (NYSE: GNC) spiked higher Tuesday after DealReporter said (NASDAQ: JD) was interested on acquiring the nutrition retailer, the latest takeover rumor involving a potential Chinese buyer. Benzinga reported in February that a major Vitamin Shoppe (NYSE: VSI) shareholder was pushing for a merger with GNC.

GNC closed at $7.21, down $0.01.

Fiat Chrysler CEO Sergio Marchionne Says 'Waiting With Anticipation on Volkswagen Talks

The CEO Comments:

Fiat Chrysler (NYSE: FCAU) CEO Sergio Marchionne said he was looking forward to meeting with his counterpart at Volkswagen (OCT: VLKAY) boss Matthias Mueller to discuss a possible merger, but he hadn't seen Mueller in six to seven months, according to Reuters. Marchionne has been an advocate of mergers in the auto industry as a way to handle costs and technology more efficiently. Last week, Mueller said he didn't rule out merger talks Fiat.

Fiat Chrysler closed at $10.70, down $0.60.

Marathon Oil Acquires ~21K Acres in N. Delaware Basin for $700M

The Deal:

Marathon Oil Corporation (NYSE: MRO) announced an agreement to acquire approximately 21,000 net surface acres largely in the Permian’s Northern Delaware basin of New Mexico from Black Mountain Oil & Gas and other private sellers for $700 million in cash, excluding closing adjustment. The acquisition is expected to close in Q2 of 2017.

Marathon Oil closed at $15.05, down $0.43.

Posted-In: M&A News Rumors


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