Wall Street's M&A Chatter From August 29: Rockwell Collins, Applied Optoelectronics, Digiliti Money

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, August 29, 2017.

United Technologies Nears Deal to Buy Rockwell Collins

The Rumor:

Shares of Rockwell Collins, Inc. COL spiked to a high of $135.31 Tuesday, following a report from Dow Jones that United Technologies UTX was near a deal to acquire the producer of communications and aviation systems. The deal could be announced this weekend, with a purchase price of less than $140 per share, sources said.

Last week, Rockwell Collins cancelled out of a Deutsche Bank Conference, said to be due to a scheduling conflict.

Rockwell Collins closed at $130.74 on Tuesday, up $2.75.

Applied Optoelectronics Said to Receive Offer from Cisco

The Rumor:

Shares of Applied Optoelectronics Inc AAOI responded Tuesday, as traders circulated unconfirmed chatter of a rejected bid from Cisco CSCO. "Sources" say the offer was in the $80s per share.

Applied Optoelectronics closed at $62.69, up $1.44.

Urban FT Says Digiliti Money Rejected Offer

The Rejection:

Urban FT confirmed Tuesday its negotiations with Digiliti Money Group, Inc. DGLT ended late Monday as Digiliti formally rejected the offer from Urban FT. The offer provided that Urban FT would deliver to Digiliti and its subsidiary an immediate line of credit to enable it to meet all current and ongoing working capital requirements, including payroll obligations due at the end of August.

Urban FT says Digiliti, via Lake Street Capital Markets, proposed alternate terms which Urban FT and its attorney considered unreasonable and unacceptable. Urban FT noted that the Digiliti Board said the company was not willing to negotiate its position and stated in an email that "we are too far off at this point" for a deal to be concluded in the timeframe Digiliti is working toward.

Digiliti Money shares have been halted since August 16.