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Wall Street's M&A Chatter From September 20: Toshiba, Scientific Games-NYX Gaming, CF Industries

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, September 20, 2017.

Scientific Games to buy NYX Gaming in C$775 million deal

The Deal:

Scientific Games Corp (NASDAQ: SGMS) and NYX Gaming Group Limited announced a definitive agreement under which Scientific Games will acquire NYX for C$2.40 per share, for an enterprise value of approximately C$775 million (US$631 million). The transaction was approved by both boards of directors and is expected to close in Q1 of 2018.

Scientific Games closed at $43.20, up 10 cents.

Chatter Yara in Advanced Talks to Acquire CF Industries

The Rumor:

Norway's Yara is in talks to acquire CF Industries Holdings, Inc. (NYSE: CF) for $44.00 per share or $10 billion, according to unsubstantiated chatroom chatter being circulated Wednesday. No other terms were mentioned.

In 2016, a proposed merger between CF and and the European, North American and Global Distribution businesses of OCI was terminated due to changes to U.S. tax rules designed to restrict inversion deals.

CF Industries closed at $35.19, down 35 cents.

Toshiba to Sell Chip Business to Bain Capital-led Group for $18B

The Deal:

Toshiba Corp (OTC: TOSBF) said it had agreed to sell its semiconductor business to a group led by Bain Capital and SK Hynix. The deal is worth $18 billion.

On Tuesday night, Toshiba was said to be leaning towards selling the business to its U.S. joint venture partner Western Digital Corp (NASDAQ: WDC). The stumbling block was the failure for the two sides to agree on WDC's future stake in the chip unit.

Western Digital said Wednesday it was "disappointed that Toshiba would take this action despite Western Digital’s tireless efforts to reach a resolution that is in the best interests of all stakeholders." WDC said it was confident that its SanDisk unit would succeed on the merit of its arbitration requests.

Western Digital closed at $86.37, down $3.55.

Posted-In: News Rumors M&A

 

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