Market Overview

Wall Street's M&A Chatter From May 5-7: Sinclair-Tribune, Avantor-VWR, Belden-Digi


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, May 5, through Sunday, May 7, 2017.

Avantor to Acquire VWR for $33.25/Share in All Cash Transaction Valued at $6.4B

The Deal:

Avantor and VWR Corp (NASDAQ: VWR) announced Friday that Avantor will acquire VWR for $33.25 in cash per share of VWR common stock, for an enterprise value of approximately $6.4 billion. The acquisition is expected to close in Q3 of 2017.

VWR closed at $33.28, down $0.77.

Belden Rescinds Proposal to Acquire Digi International Inc. for $13.82/Share in Cash

The Rescinded Proposal:

Belden Inc. (NYSE: BDC) announced Friday it has rescinded its proposal to acquire Digi International Inc. (NASDAQ: DGII) following Digi's disappointing Q2 2017 results and weak full-year 2017 outlook reported on May 4, 2017. Belden announced its offer of $13.82 per share in cash, following guidance provided by Digi on October 27, 2016.

Digi International closed at $10.70, down $1.60.

Sinclair Near Deal to Acquire Tribune Media for ~$44/Share

The Rumor:

Sinclair Broadcast Group Inc (NASDAQ: SBGI) is said to be close to a deal to acquire Tribune Media Co (NYSE: TRCO) for close to $4 billion or approximately $44 per share, according to sources as reported by Reuters. A deal could happen as soon as Monday, the sources said.

Twenty-First Century Fox (NASDAQ: FOXA), who was in talks with Blackstone Group LP (NYSE: BX) last week regarding a potential deal for Tribune, never submitted a bid, once source said.

Tribune Media closed at $40.29, up $0.70.

Posted-In: M&A News Rumors


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