Market Overview

Wall Street's M&A Chatter From July 5: Cabelas-Bass Pro Shops, Vantiv-Worldpay, Halliburton-Summit ESP


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, July 5, 2017.

Vantiv, Worldpay Group Agree to Terms On Possible Offer to Acquire Each Worldpay Share for £0.55 in Cash Or 0.0672 New Vantiv Shares

The Offer:

The boards of directors of Worldpay Group plc and Vantiv Inc (NYSE: VNTV) have reached an agreement in principle on the key terms of a potential merger. Under the terms of the potential merger, Worldpay shareholders would receive £0.55 in cash and 0.0672 new Vantiv shares for each Worldpay share, plus a cash dividend of 5 pence per Worldpay share.

Following completion of the potential merger, Worldpay shares will be delisted from the London Stock Exchange, while Vantiv shares will continue to be listed on the NYSE.

Vantiv closed at $61.02 on Wednesday, down $1.49.

Halliburton Acquires Summit ESP, Terms Not Disclosed

The Deal:

Halliburton Company (NYSE: HAL) announced it has acquired provider of electric submersible pump technology and services, Summit ESP. Terms of the deal were not disclosed

Halliburton closed at $42.86, down $0.86.

Cabelas Says FTC has Closed Investigation into Proposed Merger with Bass Pro Shops

The FTC Approval:

Cabelas Inc (NYSE: CAB) reported in a filing that on July 3, 2017, the FTC notified Cabelas and Bass Pro Group it had closed its investigation of the proposed Merger. As a result, the commitment of Bass and Cabelas not to close the merger has expired.

The deal still remains subject to approval of the Cabela’s stockholders at the Special Meeting of Stockholders to be held on July 11, 2017 and the closing of the purchase and sale of substantially all of the business of World’s Foremost Bank.

Cabela's closed at $59.70, up $0.25.

SEI Acquires Archway Technology Partners, Terms Not Disclosed

The Deal:

SEI Investments Company (NASDAQ: SEIC) announced it has acquired a provider of operating technologies and services to the family office industry and institutions, Archway Technology Partners, LLC. Terms of the deal were not disclosed.

SEI closed at $54.09, up $0.46.

Posted-In: M&A News


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