Market Overview

Wall Street's M&A Chatter From April 19: Sinclair-Tribune, Virtu-KCG, KAR Auction, Tatts Group


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, April 19, 2017.

KKR Offers $4.65B for Australian Lottery Operator Tatts Group

The Rumor:

A consortium led KKR & Co (NYSE: KKR) has offered $4.65 billion in cash for Australia's Tatts Group, according to sources as reported by Reuters. The sources said a letter was send the Board of the lottery operator on Tuesday evening.

KKR closed at $16.86, down $0.18.

KAR Acquires DRIVIN for $43M of Stock

The Deal:

KAR Auction Services, Inc. (NYSE: KAR) announced the acquisition of CarCo Technologies, Inc., d/b/a DRIVIN for $43 million in an all-stock transaction. DRIVIN, whose co-founders include Groupon's Brad Keywell and Eric Lefkofsky, aggregates automotive retail, pricing, registration and other data.

KAR Auction Services closed at $42.99, up $0.24.

Sinclair Seeks Tribune Media Acquisition in High $30's

The Rumor:

Sinclair Broadcast Group Inc. (NASDAQ: SBGI) is seeking to acquire Tribune Media Co. (NASDAQ: TRCO), according to sources as reported by Bloomberg. The purchase price is will be in the high $30s per share, the sources said.

A Tribune spokesman declined to comment on the report, while Sinclair did not respond to requests for comment.

Tibune Media closed at $38.41, up $0.71. Sinclair closed at $40.40, up $1.20.

Virtu Financial Set to Announce Deal for KCG Holdings

The Rumor:

Virtu Financial (NASDAQ: VIRT) is expected to announce Thursday it's acquiring KCG Holdings (NYSE: KCG), according to sources as reported by Financial Times. Virtu proposed in March to acquire KCG for between $18.50 and $20 a share.

Both companies declined comment on today's report.

KCG closed at $17.74, and traded at $18.51 after-hours.

Posted-In: News Rumors M&A


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