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Wall Street's M&A Chatter From September 7: Amcor-Bemis, NuVasive-Vertera Spine, Newell-Chesapeake Bay Candle

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, September 7, 2017.

Amcor Considering Takeover of Bemis

The Rumor:

Amcor is said to be working with advisors on a potential bid for Bemis Company, Inc. (NYSE: BMS), according to sources as reported by Bloomberg. The process is at an early stage and it's unknown if an offer has been made, the sources said.

Amcor stated it was "continually reviewing opportunities to improve shareholder value and, as part of that process, regularly assesses a range of strategic options." Bemis did not immediately respond to Bloomberg with a comment.

Bemis closed at $46.90 on Thursday, up $4.23.

Time Getting Second Look from Meredith

The Rumor:

Shares of Time Inc (NASDAQ: TIME) spiked to a high of $13.40 Thursday as Meredith (NYSE: MDP) was said to possibly be taking a renewed interest in the publisher of People, according to sources. Previous bids from Meredith and from a group led by Edgar Bronfman, fell short of the $20.00 per share sought by Time, according to various media reports.

Time closed at $13.20, up 40 cents.

Newell Brands to Acquire Chesapeake Bay Candle for $75M

The Analyst Comments:

Newell Brands Inc (NYSE: NWL) announced an agreement to acquire Chesapeake Bay Candle from its founders, for $75 million. The transaction is expected to close in Q4 of 2017.

Newell Brands closed at $44.76, down $2.27.

NuVasive Acquires Vertera Spine

The Deal:

NuVasive, Inc. (NASDAQ: NUVA) announced the acquisition of privately-held medical device company Vertera Spine. The company develops and commercializes highly innovative interbody implants for spinal fusion using patented technology.

Terms were not disclosed.

NuVasive closed at $60.07, down $1.25.

 

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Posted-In: M&A News Rumors