Market Overview

Wall Street's M&A Chatter From October 17: Sinclair, Impax Labs, WePay, Splunk-SignalSense


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, October 17, 2017.

Sinclair May Sell TV Stations for up to $1B

The Rumor:

Reuters reported on Tuesday that Sinclair Broadcast Group Inc (NASDAQ: SBGI) has received offers for up to 10 television stations valued at up to $1 billion, according to sources. Preliminary bids stations were submitted last week, a source said.

Sinclair is attempting to gain approval for its acquisition of Tribune Media (NYSE: TRCO) announced in May.

Sinclair Broadcast Group closed Tuesday at $30.05, down 25 cents.

Splunk Acquires SignalSense

The Deal:

Splunk Inc (NASDAQ: SPLK) acquired privately held technology company SignalSense. Terms were not disclosed.

SignalSense offers cloud-based advanced data collection and breach detection solutions that leverage machine learning.

Splunk closed at $63.97 down 30 cents.

Impax Labs, Amneal Pharma to Merge in All Stock Transaction

The Rumor:

Amneal Pharmaceuticals and Impax Laboratories Inc (NASDAQ: IPXL) have agreed to merge in an all-stock transaction. Amneal Holdings members will own approximately 75 percent and Impax shareholders will own approximately 25 percent of the new company's pro forma shares on an as converted basis.

Impax Laboratories closed at $19.30, down 65 cents.

JP Morgan to Acquire WePay

The Deal:

JPMorgan Chase & Co. (NYSE: JPM) will acquire WePay. Terms were not disclosed, but earlier the Wall Street Journal reported that the purchase price was above the $220 million valuation, following a 2015 financing round.

WePay allows business app makers and independent software vendors to seamlessly integrate payments into the software commonly used by small businesses.

JPMorgan closed at $97.62, down 24 cents.

Posted-In: M&A News Rumors Pre-Market Outlook


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