Market Overview

Wall Street's M&A Chatter From September 5: RhythmOne-YuMe, Teleflex-NeoTract, Patterson-UTI, Cemtrex-Key Tronic


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, September 5, 2017.

RhythmOne to Acquire YuMe for $185M

The Deal:

RhythmOne has entered into a definitive agreement to acquire YuMe Inc (NYSE: YUME) for a total consideration of approximately $185M based on current exchange rates. YuMe shareholders will receive $1.70 per share in cash and 7.325 shares in RhythmOne stock.

The transaction is expected to close by Q1 of 2018.

YuMe closed at $4.91 on Tuesday, down 25 cents.

Teleflex to Acquire NeoTract for $725M Cash and up to an Additional $375M Based on Milestones

The Deal:

Teleflex Incorporated (NYSE: TFX) and NeoTract announced that the companies have entered into a definitive agreement under which Teleflex will acquire NeoTract in a transaction valued up to $1.1 billion. The agreement includes an upfront cash payment of $725 million at closing, plus up to an additional $375 million upon the achievement of certain commercial milestones related to sales through the end of 2020.

The transaction is expected to close within the next 30 days.

Teleflex closed at $210.94, up 43 cents.

Patterson-UTI to Acquire Directional Drilling Services in Cash, Stock Deal

The Deal:

Patterson-UTI Energy, Inc. (NASDAQ: PTEN) has entered into an agreement to acquire directional drilling services company, Multi-Shot, for total consideration of approximately 8.8 million shares of Patterson-UTI common stock and $75 million of cash. The transaction is expected to close early in Q4.

Patterson-UTI closed at $17.00, up $1.06.

Tronc Acquires NY Daily News for $1.00

The Deal:

Tronc Inc (NASDAQ: TRNC) acquired all of the outstanding interests of Daily News, LP., owner of the New York Daily News and Under the terms of the transaction, tronc assumed operational and pension liabilities of the New York Daily News. The purchase price was reported as $1.00 per share in a filing on Tuesday.

The transaction includes 100 percent ownership of the New York Daily News' printing facility in Jersey City, New Jersey, plus tronc will acquire a 49.9 percent interest in a joint venture with Zuckerman-related entities that will own the 25-acre parcel of land on which the printing facility is located and which overlooks the Manhattan skyline.

Tronc closed at $14.76, up 10 cents.

Cemtrex Announces Exchange Offer to Acquire Key Tronic Corp

The Deal:

Cemtrex Inc (NASDAQ: CETX) announced an exchange offer to acquire Key Tronic Corporation (NASDAQ: KTCC) by offering to exchange each outstanding share of Key Tronic common stock for one share of Cemtrex common stock. The exchange offer is the first step in Cemtrex's plan to acquire all of the outstanding shares of Key Tronic. The acquisition may be accomplished through one or more transactions following this offering.

Key Tronic closed at $7.01.

Posted-In: M&A News Rumors


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