The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, June 22, 2017.
Investor Urges Potbelly to Explore Sale
The Investor Comments:
Potbelly Corp PBPB activist 4 percent shareholder Ancora Advisors said it wants the sandwich chain to makes some changes to its strategy or explore a sale. Ancora said in a letter to the Board it wants Potbelly to explore re-franchising a portion of its current restaurants, saying it would "generate a significant infusion of cash" and institute share buybacks. Short of those proposals, Ancora wants the company to explore a sale or going-private transaction.
Potbelly closed at $11.45, up $0.20.
Traders Circulate Chatter of Google in Talks to Acquire Yelp
The Rumor:
Shares of Yelp Inc YELP rose as high as $30.61 Thursday on unconfirmed market chatter of a potential $45 bid from Alphabet GOOGL. Yelp is the a frequent target of takeover chatter.
Yelp closed at $29.96, up $0.60.
Argus' Stephen Biggar Says Berkshire Could be Interested in Colgate-Palmolive
The Analyst Comments:
Argus analyst Stephen Biggar told Benzinga that Colgate-Palmolive Company CL is the type of company Warren Buffett's Berkshire Hathaway (NYSE: BRK-B) would be interested in. According to a May 16 New York Post report, Colgate-Palmolive CEO Ian Cook could be open to selling the company for $100 per share.
Biggar said $85 billion, or $100 per share would be a bit high for a cash deal, but the deal could be accomplished using part debt.
Colgate-Palmolive closed at $75.53, down $0.15.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.