Market Overview

Wall Street's M&A Chatter From June 14: General Mills, Oclaro, Rightside Group-Donuts Inc

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, June 14, 2017.

General Mills Shares Spike ~$0.25 Over Last Min As Traders Circulating Takeover Chatter

The Rumor:

Shares of General Mills, Inc. (NASDAQ: GIS) spiked sharply higher Wednesday, as traders circulated unconfirmed market chatter of a potential bid from Nestle (OTC: NSRGY). General Mills was the subject of takeover rumors earlier this year, with Mondelez (NASDAQ: MDLZ) mentioned as a potential buyer.

General Mills closed at $58.75, up $0.58.

Rightside Group to be Acquired by Donuts for $10.60/Share in Cash

The Deal:

Rightside Group Ltd (NASDAQ: NAME) and Donuts Inc., announced that the two companies have entered into a merger agreement, under which Donuts will acquire Rightside for $10.60 per share in cash via a tender offer. The purchase price is approximately $213 million.

The transaction is expected to close during Q3 of 2017.

Rightside Group closed at $10.75, up $1.00.

Oclaro Said to be Preparing for Sale

The Rumor:

Shares of Oclaro, Inc. (NASDAQ: OCLR) spiked to a high of $10.06 on a report from Betaville that the biotech company is preparing to sell itself, according to sources. There was heavy activity in the June $10 call just at the time of the report.

Oclaro declined comment on the rumor, according to Bloomberg.

Oclaro closed at $9.73, up $0.25.

Posted-In: M&A News Rumors

 

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