Wall Street's M&A Chatter From June 5: YipTV-MagicJack, Verizon-Pandora, Albany Molecular, Rite Aid

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, June 5, 2017.

Yip TV Said to Offer $9.50/Share for MagicJack

The Rumor:

YipTV is offering $9.50 per share tpo buy MagicJack VocalTec Ltd CALL, according to sources as reported by Axios. Sources say YipTV has negotiated approximately a $95 million credit facility through Goldman Sachs to help in financing a deal. MagicJack announced a strategic alternatives process in March.

MagicJack closed at $7.65 on Monday, up $1.05.

GTCR, Carlyle in Talks to Acquire Albany Molecular Research

The Rumor:

Private equity firm GTCR LLC and Carlyle Group LP CG are in talks to jointly take Albany Molecular Research, Inc. AMRI private, according to sources as reported by Reuters. Albany Molecular Research, GTCR and Carlyle did not immediately respond to requests for comment on the report.

Albany Molecular Research closed at $19.77, down $0.40.

Verizon Considers $100M Investment in Pandora

The Rumor:

Verizon VZ is considering a potential $100 million investment in Pandora Media P, according to sources as reported by the New York Post. That offer is said to come if Pandora doesn't reach a deal to sell itself to SiriusXM, the sources said. The Post confirmed on May 17 that SiriusXM was holding active talks regarding an acquisition of Pandora and the offer is said to be between $11 and $12 per share, though earlier discussions may have been around $13.

Pandora and Verizon declined comment. SiriusXM did not respond to requests for comment.

Wedbush Analyst Michael Pachter told Benzinga, "I don't think it's accurate...Think SiriusXM makes much more sense, don't see a fit with Verizon at all."

Pandora closed at $9.48, up $0.18.

Rite Aid Says Actively Engaged in Discussions with FTC Regarding Merger, Store Sale

The Memo:

Rite Aid RAD sent the following memo to its employees on Monday with regarding to its proposed merger with Walgreens Boots Alliance WBA:

"Today we wanted to provide you with an update regarding our pending merger with Walgreens Boots Alliance and the proposed sale of certain Rite Aid stores to Fred’s FRED. The Federal Trade Commission’s (FTC) review of our proposed merger has taken longer than expected, which has had a negative impact on our results. As a management team, we regret that this has created uncertainty and a challenging work environment for all of us at Rite Aid. We greatly appreciate the dedication you’ve displayed during this time and your tremendous efforts to serve our customers and support our fellow Rite Aid associates. We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval and there can be no guarantee that the merger will be approved. However, we expect a decision sometime soon."

Rite Aid closed at $3.75, up $0.07.