Market Overview

Wall Street's M&A Chatter From April 4: Panera, Rent-A-Center, Innocoll, ChemChina-Syngenta, MSG Networks


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, April 4, 2017

Aaron's Seeking Acquisition of Rent-A-Center

The Rumor:

Shares of Rent-A-Center (NASDAQ: RCII) spiked higher following a tweet from TheStreet's Ronald Orol that Aaron's (NYSE: AAN) is seeking to acquire its rival. Orol said investor Engaged's Welling has three director candidates up for election to Rent-A-Center's board.

Aaron's has rejected multiple approaches from Rent-A-Center in the past.

Rent-A-Center Medical closed at $9.28, up $0.66.

JAB Holding Near Deal to Acquire Panera Bread

The Rumor:

JAB Holding is in advanced talks to acquire Panera, according to sources as reported by Bloomberg. A $315 per share deal was confirmed Wednesday morning.

Panera closed at $274.00, and traded as high as $314.50 after-hours.

ChemChina-Syngenta Deal Wins U.S. Regulatory Approval

The Regulatory Approval:

The U.S. Federal Trade Commission has given its approval to ChemChina, has won U.S. antitrust approval for its $43 billion takeover of Syngenta (NYSE: SYT) on the condition that the companies divest three crop chemical businesses to a rival. The deal was announced a year ago.

The deadline for EU approval is April 18.

Syngenta closed at $89.31, and traded at $90.50 after-hours.

MSG Networks Said to be for Sale; Verizon Potential Buyer

The Rumor:

MSG Networks (NYSE: MSG) is listening to potential buyers, according to sources reported by the New York Post. Verizon (NYSE: VZ) is considered to be a potential suitor, while AT&T (NYSE: T) is a less likely candidate for the sports network which owns the TV rights for the Knicks, Rangers, Devils and Islanders.

MSG Executive Chairman Jim Dolan has been in contact with Guggenheim Partners Executive Chairman Alan Schwartz regarding a deal, sources said. Schwartz is on the board of MSG.

MSG Networks closed at $24.45, up $1.50.

Gurnet Point Capital Nears Deal to Acquire Innocoll

The Rumor:

Gurnet Point Capital is near a deal to acquire Innocoll Holdings Plc (NASDAQ: INNL), according to sources as reported by Reuters. The offer is said to include cash, plus a performance-based payment, based on certain milestones being met.

A deal could be announced as early as this week, sources said.

Innocoll Holdings closed at $1.82, and traded as high as $3.18 after-hours.

Posted-In: News Rumors M&A


Related Articles (AAN + INNL)

View Comments and Join the Discussion!