Market Overview

Wall Street's M&A Chatter From September 22-24: KB Home, NRG Yield, Gigya

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, September 22 through Sunday, September 24, 2017.

American Homes 4 Rent Could Target KB Home for an Acquisition

The Rumor:

Shares of KB Home (NYSE: KBH) surged higher in early trading Friday, as DealReporter said the company was a takeover target for American Homes 4 Rent (NYSE: AMH). The publication reported that following the announcement of the merger of Invitation Homes (NASDAQ: INVH) and Starwood Waypoint (NYSE: SFR), American Homes 4 Rent could seek an acquisition.

KB Home closed at $20.88 on Friday, up 10 cents.

NRG Yield to Explore Strategic Alternatives

The Rumor:

Shares of of NRG Yield rose as high as $20 Friday, following a report from SparkSpread that the company has hired JPMorgan and Barclays to explore strategic alternatives. The publication that Citigroup is handling a sale of NRG Energy's (NYSE: NRG) Class B and D shares in NYLD.

NRG Yield closed at $19.40, up 25 cents.

SAP to Acquire Gigya

The Deal:

Gigya announced Sunday it has agreed to be acquired by SAP SE (ADR) (NYSE: SAP). Gigya has a platform that allows companies build digital relationships with their customers.

The transaction is expected to close in Q4 of 2017, subject to regulatory approval. Terms of the transaction were not disclosed.

SAP closed Friday at $110.27, up 64 cents.

Posted-In: News Rumors M&A

 

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