Market Overview

Wall Street's M&A Chatter From June 20: Calpine, Parexel, Gilead, Spherix-Hoth Therapeutics, Norsat-Hytera


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, June 20, 2017.

PAREXEL to be Acquired for $88.10/Share Cash by Pamplona Capital

The Deal:

PAREXEL International Corporation (NASDAQ: PRXL) and Pamplona Capital Management, LLP have entered into a definitive agreement under which Pamplona will acquire all of the outstanding shares of PAREXEL for $88.10 per share in cash in a transaction valued at approximately $5.0 billion, including PAREXEL's net debt.

The transaction is expected to close early in Q4 of 2017, subject to the approval of a majority of PAREXEL shareholders and the satisfaction of other customary closing conditions.

PAREXEL closed at $87.04, up $3.12.

Spherix to Acquire Controlling Interest in Hoth Therapeutics

The Deal:

Spherix Inc (NASDAQ: SPEX) has negotiated definitive terms to acquire a controlling interest in development stage biopharmaceutical company, Hoth Therapeutics. The deal is expected to be completed in 30 days or less.

Spherix closed at $1.01, up $0.06.

Norsat Enters into Amended Definitive Agreement with Hytera Communications Co., Ltd. to be Acquired for $11.50/Share

The Deal:

Norsat International Inc. (NASDAQ: NSAT) has entered into an amended arrangement agreement with Hytera Communications subsidiary Hytera Project Corp., under which Hytera will acquire all the issued and outstanding shares of Norsat for $11.50 per share in cash, for an equity value of approximately $70.6 million.

The deal is occurring under a court-approved plan of arrangement and is expected to close in Q3 of 2017

Norsat closed at $11.38, up $0.05.

Hearing Chatter of Google Bid for Hive Networks

The Rumor:

Shares of Hive Networks (NASDAQ: HIVE) spiked to a high of $5.75 Tuesday, as traders circulated unconfimred market chatter of a potential bid from Alphabet (NASDAQ: GOOGL). "Sources" say Alphabet could bid $7.50 per share for Hive Networks.

There has been insider buying from the company's CEO in the past month.

Hive Networks closed at $5.40, up $0.20.

Hearing Chatter Sanofi is in Talks to Acquire Gilead

The Rumor:

Shares of Gilead Sciences (NASDAQ: GILD) rose after traders circulated unconfirmed market chatter of a potential bid from Sanofi (NYSE: SNY). Last week, Gilead was rumored to be possibly making a bid for Tesaro (NASDAQ: TSRO).

Gilead closed at $65.59, up $0.77.

Calpine PE Chatter

The Rumor:

Private equity firm Energy Capital Partners is said to have built a stake in Calpine (NYSE: CPN) and is planning to make a bid for the wholesale power producer, according to a source as reported by SparkSpread on Tuesday. DealReporter reported last month that Blackstone (NYSE: BX) and Carlyle Group (NASDAQ: CG) were looking to take the company private.

Calpine closed at $13.67, up $0.25.

Posted-In: M&A News Rumors


Related Articles (BX + CG)

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