Market Overview

Wall Street's M&A Chatter From May 15: Thermo Fisher-Patheon, La Quinta, China Automotive Systems


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, May 15, 2017.

Thermo Fisher to Acquire Patheon for $35/Share Cash

The Deal:

Thermo Fisher Scientific Inc. (NYSE: TMO) and Patheon N.V. (NYSE: PTHN) announced that their boards of directors have approved Thermo Fisher's acquisition of Patheon via a tender offer for $35.00 per share in cash. The total purchase price is approximately $7.2 billion, including the assumption of approximately $2.0 billion of net debt.

The transaction is expected to be completed by the end of 2017, subject to regulatory approval.

Patheon closed at $34.60, up $8.60.

China Automotive Systems Received an Acquisition Offer by the Company's Chairman for $5.45/Share

The Offer:

China Automotive Systems, Inc. (NASDAQ: CAAS) announced that its Board of Directors has received a preliminary non-binding proposal letter, dated May 14, 2017, from its Chairman, Mr. Hanlin Chen, to acquire all of the outstanding shares of common stock of the Company not already beneficially owned by Mr. Chen for $5.45 per share in cash. Mr. Chen's group currently own approximately 56.4% of the issued and outstanding shares of common stock. The Board has established a special committee of the Board to review the proposal.

The Company says no decisions have been made by the Special Committee or the Board with respect to the Company's response to the proposal and there is no guarantee that this or any other transaction will be approved or consummated.

China Automotive System closed at $5.10, up $0.65.

La Quinta to Explore Sale

The Rumor:

La Quinta Holdings Inc (NYSE: LQ) is said to be exploring a sale, according to sources as reported by Reuters. La Quinta reported in January it would spin off its real estate assets as a separate company. That filing is expected to happen in Q2.

La Quinta declined comment on the report.

La Quinta closed at $15.17, up $1.80


Related Articles (CAAS + LQ)

View Comments and Join the Discussion!

Posted-In: M&A News Rumors

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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