Market Overview

Wall Street's M&A Chatter From August 14: Danone, Neff Corp, Huawei Technologies-Applied Optoelectronics

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, August 14, 2017.

AAOI Said to have Received a $110/Share Offer

The Rumor:

A report out of China says Huawei Technologies Co. has submitted an offer to acquire Applied Optoelectronics Inc (NASDAQ: AAOI) for $110 per share. AAOI has hired Goldman Sachs as and advisor, the report said.

Applied Optoelectronics closed at $68.92 on Monday, up $3.08

Kraft, Coke Could Bid for Danone

The Rumor:

France's Danone (OTC: DANOY), maker of Danon Yogurt, could be a takeover target, according to sources as reported by the New York Post. Kraft Heinz (NYSE: KHC) and Coca-Cola (NYSE: KO) are potential buyers, the sources said.

Bloomberg reported Monday that Keith Meister's Corvex Management is building a stake in Danone, saying the company is undervalued.

The U.S. ADS of Danone closed at $16.64, up $1.17.

Neff Receives $25/Share 'Superior Proposal' from 'Strategic Bidder'

The Superior Proposal:

Neff Corporation (NYSE: NEFF) announced that its Board of Directors has determined a strategic bidder has submitted a "Superior Proposal" to acquire all of the outstanding shares of Neff

common stock for $25.00 per share in cash. Under the terms of an Existing Merger Agreement, H&E agreed to acquire all of the outstanding shares of Neff common stock for $21.07 per share in cash.

H&E has the right, under the agreement to propose modifications to the terms of the Existing Merger Agreement within a five business day period.

Neff closed at $26.00, up $4.15.

Posted-In: M&A News Rumors

 

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