Wall Street's M&A Chatter From November 13: Buffalo Wild Wings, Qualcomm-Broadcom, Brookfield Property-GGP

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, November 13, 2017.

Qualcomm Rejects $130 Billion Broadcom Merger Proposal

The Rejected Offer

Qualcomm, Inc. QCOM announced that its Board of Directors unanimously rejected the unsolicited proposal announced by Broadcom Ltd AVGO, stating, "It is the Board's unanimous belief that Broadcom's proposal significantly undervalues Qualcomm..." Broadcom responded "it remains fully committed to pursuing its acquisition of Qualcomm Incorporated."

Broadcom offered $70.00 per share, including $60.00 in cash and $10.00 per share in Broadcom shares.

Qualcomm closed Monday at $66.49, up $1.92.

Brookfield Property Partners Offers $23/Share to Acquire Remaining Shares of GGP

The Offer:

Brookfield Property Partners LP BPY announced it has made a non-binding proposal to acquire all the outstanding shares of common stock of GGP Inc. GGP it doesn't already own for $23.00 in cash or 0.9656 of a limited partnership unit of BPY. GGP confirmed that on Saturday, November 11, its Board of Directors received an unsolicited proposal from Brookfield.

GGP said its Board has formed a special committee to carefully review and consider the proposal and pursue the course of action that it believes is in the best interests of its shareholders.

GGP closed at $23.20, up $3.19.

Roark Capital Offers $150+/Share to Buy Buffalo Wild Wings

The Rumor:

Buffalo Wing Wings BWLD shares soared after-hours Monday as The Wall Street Journal reported that private-equity firm Roark Capital Group offered more than $150 per share, according to sources. Goldman Sachs is said to be advising Buffalo Wild Wings, the sources said.

Buffalo Wild Wings closed at $117.25, and traded as high as $153 after hours.