Market Overview

Wall Street's M&A Chatter From June 9-11: Nordstrom, Sarepta, Walgreens-Rite Aid


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, June 9, through Sunday, June 11, 2017.

Report FTC Preparing Advice to Block Walgreens-Rite Aid Deal

The Rumor:

Shares of Rite Aid Corporation (NYSE: RAD) fell sharply Friday on a report from Capitol Forum that the Federal Trade Commission is preparing advice to block Walgreens Boots Alliance Inc (NASDAQ: WBA) acquisition of the drug chain. Rite Aid reported last week that ongoing discussions with the FTC were taking longer than expected, but a decision was expected soon.

A spokesperson for Freds, Inc. (NASDAQ: FRED), which has agreed to acquire 1,200 Rite Aid stores as part of satisfying regulatory requirements, declined comment on the report.

Rite Aid closed at $3.00 on Friday, down $0.53.

Nordstrom Family Searching for Acquisition Partner to Help Raise $1B-$2B in Equity to Fund Potential 'Going Private' Bid

The Rumor:

A group consisting of members of the Nordstrom, Inc. (NYSE: JWN) family, who own a 31.2 percent stake, are speaking with private equity firms about raising $1 billion to $2 billion for a potential "going private" bid for the U.S. retailer, according to sources as reported by Reuters. Nordstrom announced on Thursday that the family group was exploring the possibility of taking the company private.

Nordstrom closed at $47.16, up $2.53.

Sarepta Shares Spike Higher on Takeover Rumor

The Rumor:

Shares of Sarepta Therapeutics Inc (NASDAQ: SRPT) spiked higher Friday as traders circulated unconfirmed takeover chatter regarding the biotech company. On Thursday, Oppenheimer's Hartaj Singh said an acquisition of the maker of the Duchenne Muscular Dystrophy drug Exondys 51, would be a bargain at current prices.

Sarepta closed at $31.47, down $0.08.

Posted-In: News Rumors M&A


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