Market Overview

Wall Street's M&A Chatter From April 7-9: 21st Century Fox, Akorn, BioTelemetry-LifeWatch, Intrawest Resorts


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, April 7 through Sunday, April 9, 2017.

Fresenius in Talks for Acquisition of Akorn

The Talks:

Akorn, Inc. (NASDAQ: AKRX) confirmed a Bloomberg report that the company is in discussions with Fresenius Kabi, a subsidiary of Fresenius SE & Co. KGaA (OTC: FSNUY) regarding a potential acquisition. The Boards of Directors of both companies still must approve entry into a formal agreement and there is no assurance a deal will result from the talks.

Akorn closed at $29.77 on Friday, up $4.55.

21st Century Fox Receives European Commission Clearance for Sky Acquisition

The Approval:

Twenty-First Century Fox (NASDAQ: FOXA) has received unconditional European Commission antitrust approval on Friday for its $14.5 billion acquisition of Sky (OTC: BSYBF). The EC said there were no competition issues, since the Fox and Sky operate in different markets in Europe.

Reuters had reported earlier that approval was imminent.

21st Century Fox closed at $31.07, down $0.05.

Intrawest Resorts to Announce Sale on Monday to KSL Capital Partners-backed Ski Resort Operator

The Rumor:

Intrawest Resorts Holdings Inc (NYSE: SNOW) is expected to announce on Monday that it's being sold to a ski resort operator backed by KSL Capital Partners, according to a report by Reuters. The sale price isn't known, but is said to be at a premium to Friday's close.

Fortress Investment Group (NYSE: FIG) is Intrawest's largest investor.

Intrawest Resorts closed at $25.30, down $0.28.

BioTelemetry Launches Tender Offer to Acquire LifeWatch

The Tender Offer:

BioTelemetry, Inc. (NASDAQ: BEAT) and LifeWatch AG announced Sunday that BioTelemetry will launch a tender offer in Switzerland to acquire all of the outstanding shares of LifeWatch AG. Shareholders will Receive either CHF10.00 in cash and 0.1457 shares of BioTelemetry stock or CHF8.00 in cash and 0.2185 shares of BioTelemetry stock for a total deal value is approximately CHF260 million.

The transaction has been approved by both company's Boards of Directors.

BioTelemetry closed at $27.30, down $0.10.


Related Articles (AKRX + BEAT)

View Comments and Join the Discussion!

Posted-In: M&A News Rumors