Wall Street's M&A Chatter From August 2: Food Stocks, PharMerica, Hasbro-Lionsgate

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, August 2, 2017.

Hasbro Ends Talks to Acquire Lionsgate

The Rumor:

Hasbro, Inc. HAS has ended discussions to acquire Lionsgate Entertainment Corp LGF, according to sources as reported by Reuters. Not being able to agree on price was the main sticking point in the negotiations, the source said.

Hasbro and Lionsgate did not respond to requests for comment.

Lionsgate closed at $29.33, up 22 cents.

Food Stocks Surge on M&A Rumors

The Rumor:

Shares of food-related stocks, including General Mills, Inc. GIS, Tyson Foods, Inc. TSN and Treehouse Foods Inc. THS surged higher Wednesday on M&A rumors. According to media reports, UK meat processor Hilton Food Group is in talks to acquire Icelandic Seachill from Icelandic Group. Hilton, in a press release, acknowledged the media speculation regarding a potential acquisition, confirming early stage of discussions regarding a transaction.

Earlier in the day, DealReporter said Kraft Heinz KHC could pursue an acquisition of Mondelez International Inc MDLZ now that CEO Irene Rosenfeld is gone.

General Mills closed at $56.07, up 87 cents.

PharMerica to be Acquired by KKR for $29.25/Share in Cash

The Deal:

PharMerica Corporation PMC has entered into a definitive merger agreement to be acquired by a newly formed company controlled by KKR KKR, for $29.25 per share in cash. Walgreens Boots Alliance, Inc. WBA will be a minority investor.

The transaction is expected to be completed by early 2018.

Innophos closed at $28.95, up $3.90.