Market Overview

Wall Street's M&A Chatter From July 27: Nordstrom, Mitel-ShoreTel, ICON-Mapi Group, BMC Software-CA


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, July 27, 2017.

Mitel to Acquire ShoreTel for $7.50/Share in Cash​

The Deal:

Mitel Networks Corp (NASDAQ: MITL) and ShoreTel Inc (NASDAQ: SHOR) have entered into a definitive merger agreement pursuant to which Mitel will acquire 100 percent of the outstanding shares of ShoreTel common stock for $7.50 per share in cash. The total equity value is approximately $530 million and the enterprise value is approximately $430 million.

The transaction is expected to close in Q3 of 2017.

ShoreTel closed at $7.50, up $1.65.

ICON Acquires Mapi Group

The Deal:

ICON plc (NASDAQ: ICLR) has acquired the Mapi Group, a leading Patient-Centered Health Outcomes Research and Commercialization company. Terms were not disclosed.

ICON closed at $6.87, down 6 cents.

BMC Software Ends Merger Talks with CA

The Deal:

BMC Software Inc.'s merger talks with CA, Inc. (NASDAQ: CA) havew ended, according to sources as reported by the Wall Street Journal. BMC is owned by Bain Capital and Golden Gate Capital and had sought to take CA private.

Bloomberg reported the potential acquisition of CA by BMC in June.

CA closed at $31.10, down $3.55.

Nordstrom Family Members Offer Preferred Equity to Attract PE Partner

The Rumor:

Nordstrom, Inc. (NYSE: JWN) family members are offering preferential terms to potential equity partners willing to finance a buyout of the department store chain, according to sources as reported by Reuters. The family has been in talks with potential partners, including Leonard Green & Partners LP, Apollo Global Management LLC (NYSE: APO) and KKR & Co LLP (NYSE: KKR), the sources said.

Spokespersons for Nordstrom, the Nordstrom family and Leonard Green, were not immediately available for comment. KKR and Apollo declined comment on the report.

Nordstrom closed at $48.97, up $1.11.


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Posted-In: M&A News Rumors