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Wall Street's M&A Chatter From March 31-April 2: Syneron, Jaguar Animal, FMC-Dupont, Walgreens-Rite Aid


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday March 31, through Sunday April 2, 2017:

Apax Partners Near Deal to Acquire Syneron for $500M

The Rumor:

UK private equity fund Apax Partners is said to be near a deal to Syneron Medical (NASDAQ: ELOS) for approximately $500 million, according to Israel's Calcalist.

The report said Apax would pay a 37 percent premium to Friday's closing price of $6.03

Syneron Medical closed at $6.03, down $0.26.

Jaguar Animal Health, Napo Pharma Announce Definitive Merger Deal

The Deal:

Napo Pharmaceuticals, Inc. and Jaguar Animal Health, Inc. (NASDAQ: JAGX) announced Friday a definitive merger agreement (the "Agreement") by unanimous approval by the boards of directors of both companies. Under the terms of the Agreement, Jaguar's stockholders and option and warrant holders calculated on a fully diluted basis will hold approximately 25 percent of the total outstanding fully diluted equity of Jaguar.

The merger is expected to close during Q2 of 2017.

Jaguar Animal Health closed at $33.49, up $0.58.

DuPont to Divest Portion of Crop Protection Unit, Acquire FMC's Health & Nutrition Business

The Deal:

FMC Corporation (NYSE: FMC) and DuPont (NYSE: DD) announced the signing of a definitive agreement, under which FMC will acquire the portion of DuPont's Crop Protection business it must divest to satisfy a European Commission ruling regarding its merger with Dow Chemical Company (NYSE: DOW). DuPont will acquire FMC's Health and Nutrition and receive $1.2 billion in cash and working capital of $425 million.

DuPont and Dow have amended the merger agreement and now anticipate closing of the merger to occur between August 1, 2017 and September 1, 2017,

DuPont closed at $80.33, down $1.31. FMC closed at $65.59, up $8.09.

Walgreen Sets Deadline of 3 Months for FTC to Approve Merger with Rite Aid

The Rumor:

Walgreens (NASDAQ: WBA) has set a deadline of approximately three months for the FTC to either block the merger with Rite Aid (NYSE: RAD), according to sources as reported by the New York Post on Friday. Sources said Walgreen believes the new FTC commissioner under President Trump is more likely to approve the deal.

Bloomberg reported last month that Walgreens was putting together a package to sell additional assets to Fred's (NASDAQ: FRED) over and above the 865 Rite Aid stores announced in December.

Walgreen closed at $83.05, down $0.26. Rite closed at $4.25, down $0.17.


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Posted-In: M&A News Rumors

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