Market Overview

Wall Street's M&A Chatter From July 7-9: ClubCorp, Rambus, Entellus Medical-Spirox, Sparton-Ultra Electronics


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, July 7, through Sunday, July 9, 2017.

Rambus Said to be Working on a Sale

The Rumor:

Chipmaker Rambus Inc. (NASDAQ: RMBS) is considering a sale, according to sources as reported by Bloomberg on Friday. Rambus is working with a financial advisor to identify potential buyers, the sources said,.

Rambus declined comment on the report.

Rambus closed at $12.45 on Friday, up $1.12. It traded as high as $12.98.

Entellus Medical to Acquire Spirox for $25M Cash, 3.4M Shares Of Entellus Stock

The Deal:

Entellus Medical Inc (NASDAQ: ENTL) has entered into a definitive agreement to acquire privately-held ENT medical technology company Spirox for $25 million in cash and 3.4 million shares of Entellus common stock, plus additional contingent payments over four years based on revenue growth.

The transaction is expected to close early in the third quarter of 2017.

Entellus Medical closed at $15.89, down $0.62.

Sparton Corporation to be Acquired by Ultra Electronics Holdings for $23.50/Share Cash

The Deal:

Sparton Corporation (NYSE: SPA) agreed to be acquired by Ultra Electronics Holdings plc (OTC: UEHPY) for $23.50 per share in cash. The transaction is expected to close no later than January 1, 2018.

Sparton Corporation closed at $23.11, up $0.75.

ClubCorp to be Acquired by Apollo Global Management Affiliated Funds for $17.12/Share in Cash

The Deal:

ClubCorp Holdings Inc (NYSE: MYCC) announced Sunday it has entered into a definitive agreement with affiliates of certain investment funds managed by affiliates of Apollo Global Management (NYSE: APO) to acquire all of the outstanding shares of ClubCorp for $17.12 per share in cash, or approximately $1.1 billion. The transaction is expected to close in Q4 of this year.

ClubCorp closed at $13.10, up $0.40.

Posted-In: M&A News Rumors


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