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Market Overview

Wall Street's M&A Chatter From May 1: Cruise Lines, Jive Software, IAC-Angie's List


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, May 1, 2017.

HNA Reportedly Eyeing Major Cruise Line Acquisition

The Rumor:

Chinese conglomerate HNA could be in the market to acquire a major cruise company, according to a report from Cruise Industry News. A cruise line could be next, following agreements to to acquire a 16.8 percent stake in Dufry and stake a stake in Rio's airport last week.

HNA acquired a 25 percent stake in Hilton Hotels for $6.5 billion last October.

Carnival Cruise Line's (NYSE: CCL) ship 'Jubilee' became HNA's 'Henna' in 2012.

Carnival Cruise Line closed at $62.55, up $0.78.

Jive Software Acquired by ESW Capital for $5.25/Share Cash

The Deal:

Jive Software Inc (NASDAQ: JIVE) announced that ESW Capital, LLC, through its affiliate Wave Systems, is acquiring Jive in a transaction is valued at $462 million. Under the agreement, an affiliate of Aurea will commence a tender offer for all of the outstanding shares of Jive common stock for $5.25 in cash per share.

Jive's Board of Directors has unanimously approved the merger agreement and recommends that Jive stockholders tender their shares in the tender offer.

Jive Software, closed at $5.27, up $0.22.

IAC to Acquire Angie's List for $8.50/Share

The Deal:

IAC (NASDAQ: IAC) and Angie's List Inc (NASDAQ: ANGI) have entered into a definitive agreement under which IAC's HomeAdvisor and Angie's List will be combined into a new publicly-traded company, to be called ANGI Homeservices Inc. Under the terms of the agreement, Angie's List stockholders will have the right to elect to receive either one share of Class A common stock of ANGI Homeservices Inc. or $8.50 per share in cash, for each share of Angie's List stock that they own, with a cap on the cash of $130 million.

The transaction has been approved by the Boards of Directors of both companies, and is expected to close in Q4 of 2017.

Angie's List closed at $5.89, and traded at $8.50 after-hours.


Related Articles (CCL + ANGI)

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Posted-In: M&A News Rumors

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