Market Overview

Wall Street's M&A Chatter From June 16-18: Amazon-Whole Foods, Walmart, Norsat International

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, June 16, through Sunday, June 18, 2017.

Amazon to Acquire Whole Foods for $42/Share

The Deal:

After years of speculation, Whole Foods Market, Inc. (NASDAQ: WFM) announced on Friday it will be acquired by Amazon.com, Inc. (NASDAQ: AMZN) for $42 per share in cash, for a transaction valued at approximately $13.7 billion. There was chatter later in the day, that a higher bid could surface.

John Mackey will remain as CEO of Whole Foods. The transaction is expected to close H2 of 2017.

Whole Foods closed at $42.68, up $9.62.

Walmart to Acquire Bonobos for $310M Cash

The Deal:

Wal-Mart Stores Inc (NYSE: WMT) announced Friday it has agreed to acquire Bonobos, Inc. for $310 million in cash. The acquisition is expected to close toward the end of Q2 or beginning of Q3.

Walmart closed at $75.24, down $3.67.

Norsat Announces Amended Offer from Hytera Communications for $11.50Share

The Amended Offer:

Norsat International Inc (USA) (NYSE: NSAT) announced that a Special Committee has received, reviewed and considered an amended offer from Hytera for $11.50 per share in cash and to increase the Norsat and Hytera termination fees from $2.5 million to $3 million, respectively.

The Independent Directors have determined that the Privet Subsequent Acquisition Proposal ceases to be a Superior Proposal, and subject to obtaining approval from the Industrial Technologies Office representing the Strategic Aerospace and Defense Initiative program will enter into a further amendment of the Amended Arrangement Agreement and implement the amended offer.

At this time, there can be no assurance that the amended offer will lead to the execution of a further amendment of the amended arrangement agreement with Hytera, or that the transaction contemplated by Hytera will obtain all necessary approvals or be consummated.

Norsat closed at $11.30, unchanged.

Posted-In: News Rumors M&A

 

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