Market Overview

Wall Street's M&A Chatter From June 19: CareerBuilder, EQT-Rice Energy, Novadaq-Stryker


The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, June 19, 2017.

EQT to Buy Rice Energy for $6.7B

The Deal:

EQT Corporation (NYSE: EQT) and Rice Energy Inc. (NYSE: RICE) announced that they have agreed that EQT will acquire all of the outstanding shares of Rice common stock for total consideration of approximately $6.7 billion, including 0.37 shares of EQT common stock and $5.30 in cash per share of Rice common stock.

The transaction is expected to close in Q4 of 2017.

Rice Energy closed at $24.57, up $4.88.

NOVADAQ to be Acquired by Stryker for $11.75/Share in Cash

The Deal:

NOVADAQ Technologies Inc. (NASDAQ: NVDQ) has entered into a definitive arrangement with Stryker Corporation (NYSE: SYK), under which Stryker will acquire all of the issued and outstanding shares of Novadaq for $11.75 per share in cash.

The acquisition will be carried out via a court approved plan of arrangement under the Canada Business Corporations Act and will require approval of the holders of at least 66 2/3 percent of the Novadaq hares present in person or represented by proxy at a special meeting of Novadaq shareholders to be held on or about August 4, 2017.

There is a provision for a termination fee of $21 million by Novadaq to Stryker under certain conditions.

Novadaq closed at $11.70, up $5.70.

TEGNA to Sell CareerBuilder for ~$250M

The Deal:

TEGNA Inc. (NYSE: TGNA) has entered into a definitive agreement to sell CareerBuilder to an investor group led by investments funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) and the Ontario Teachers’ Pension Plan Board ford cash proceeds of approximately $250 million. TEGNA will retain a stake 12.5 percent on a fully-diluted basis once the proposed transaction is complete.

The proposed transaction is expected to close in Q3 of 2017.

Tegna closed at $15.26, up $0.08.


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Posted-In: M&A News