Market Overview

Wall Street's M&A Chatter From April 26: Castle Brands, Michael Kors, Sajan-Amplexor

Share:

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, April 26, 2017.

Castle Said to Weigh Sale Amid Takeover Interest

The Rumor:

Castle Brands Inc. is exploring a sale, according to sources as reported by Bloomberg. Potential buyers include Constellation Brands Inc. (NYSE: STZ) and Diageo (NYSE: DEO), the sources said.

Castle Brands is said to be working with advisers at Perella Weinberg Partners.

Representatives for Perella Weinberg, Constellation and Diageo declined comment on the rumor, while Castle Brands had not yet responded.

Castle Brands closed at $1.62, up $0.02.

Coach May Consider Michael Kors Takeover

The Rumor:

Shares of Michael Kors (NYSE: KORS) spiked to a high of $38.46 Wednesday, following circulation of unconfirmed market chatter that Coach (NYSE: COH) could bid for the women's and men's apparel design and marketing company. Talks between Coach and Kate Spade (NASDAQ: KATE) are said to have stalled and Coach is ready to entertain a new merger partner.

Analysts now see a Kate Spade deal in the $18.00 to $21.00 range, not enough to get a deal done.

Michael Kors closed at $38.05, up $0.58.

Sajan to be Acquired by AMPLEXOR at $5.83/Share in Cash

The Deal:

Sajan Inc. (NASDAQ: SAJA) and AMPLEXOR International SA announced a definitive merger agreement under which Sajan will be acquired by a wholly-owned subsidiary of AMPLEXOR International for $5.83 per share in cash. The merger is expected to close following a special meeting of Sajan's shareholders to vote on the transaction in July 2017.

Sajan closed at $5.70, up $1.71.

Posted-In: M&A News Rumors

 

Related Articles (COH + DEO)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Verona Pharma, Cloudera And 6 Others To Launch IPOs This Week

PulteGroup, Union Pacific, Thor And Retail: Fast Money Picks For April 27