Market Overview

Wall Street's M&A Chatter From August 10: Perrigo, PayPal-Swift Financial, Invitation Homes-Starwood Waypoint


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, August 10, 2017.

PayPal To Acquire Swift Financial, Terms Not Disclosed

The Deal:

PayPal Holdings Inc (NASDAQ: PYPL) has agreed to acquire small-business lender Swift Financial. Terms were not disclosed.

The acquisition is expected to close later in the year, subject to certain closing conditions.

PayPal closed at $58.02, down $1.65.

Invitation Homes, Starwood Waypoint Homes to Merge in All-Stock Deal

The Deal:

Invitation Homes Inc (NYSE: INVH) and Starwood Waypoint Homes (NYSE: SFR) announced the signing of a definitive agreement to combine in a 100 percent stock-for-stock merger-of-equals transaction. The combined company will be known as "Invitation Homes."

Under the terms of the agreement, each Starwood Waypoint Homes share will be converted into 1.614 Invitation Homes shares, based on a fixed exchange ratio. After closing of the transaction, Invitation Homes stockholders will own approximately 59 percent of the combined company's stock, while Starwood Waypoint Homes stockholders will own approximately 41 percent of the combined company's stock.

The combined company's shares will trade on the New York Stock Exchange under the ticker symbol "INVH." The transaction is expected to close by year-end,

Starwood Waypoint Homes closed at $35.35, up $1.73.

SK Capital to Acquire Perrigo's Active Pharmaceutical Ingredients Business; Terms Not Disclosed

The Rumor:

Private Investment Firm SK Capital has signed a definitive agreement to acquire Perrigo's (NYSE: PRGO) active pharmaceutical ingredients, or API business. The agreement includes a provision for Perrigo API to supply multiple existing commercial and pipeline APIs to Perrigo.

The transaction is expected to close during Q4 of 2017.

Perrigo closed at $76.84, up $10.47.

Posted-In: News Rumors M&A


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