Market Overview

Wall Street's M&A Chatter From Nov. 20: Marvell Technology, Aetna, Bloomin' Brands, AT&T


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

Marvell Technology to Acquire Cavium for $6B 

The Deal:

Marvell Technology Group Ltd. (NASDAQ: MRVL) and Cavium, Inc. (NASDAQ: CAVM) announced an agreement Monday under which Marvell will acquire all outstanding shares of Cavium common stock for $40 per share in cash and 2.1757 Marvell common shares for each Cavium share. The transaction is expected to close in mid-calendar 2018, subject to regulatory approval and approvals by Cavium and Marvell shareholders.

The deal has already been approved by the boards of both companies.

Cavium closed Monday at $84.02, up $8.19.

WSJ Says CVS Acquisition of Aetna Could Happen by End of November

The Rumor:

Share of Aetna Inc (NYSE: AET) spiked to more than $176 Monday, as the Wall Street Journal mentioned that the previously rumored acquisition by CVS Health Corp (NYSE: CVS) could happen by the end of this month, according to sources.

The Journal reported Oct. 26 that CVS offered to acquire Aetna for more than $200 per share.

Aetna closed Monday at $174.94 up $1.74.

Jana Takes Stake in Bloomin Brands; Says Potential Sale on Agenda

The Stake: 

Jana Partners on Monday, reported a 8.74 percent stake in Bloomin' Brands  Inc (NASDAQ: BLMN) in a 13D filing. Jana said it acquired the stake in the belief they are undervalued.

‍The firm, headed by Barry Rosenstein, said it intends to speak with Bloomin' Brands board regarding a strategic review, which includes exploring a sale of the company.

Bloomin Brands closed Monday at $20.54, up $2.27.

Nestle Said to Hold Talks Regarding Hain Celestial Acquisition

The Rumor: 

Nestle SA (ADR) (OTC: NSRGF) is said to among several companies considering the purchase of Hain Celestial Group Inc (NASDAQ: HAIN), according to sources as reported by Bloomberg on Monday. Nestle is considering buying all or part of Hain, the sources said.

U.S. food companies and buyout firms are also interested in Hain, according to the sources.

Hain Celestial closed Monday at $40.89, up $1.05.

DoJ Files Lawsuit to Block AT&T-Time Warner Merger

The Lawsuit: 

The Justice Department filed a lawsuit on Monday, aimed at blocking AT&T Inc. (NYSE: T) from acquiring Time Warner Inc (NYSE: TWX). The DoJ argued that AT&T would use Time Warner's film library to force competitors to pay more for content.

The DoJ cited documents from AT&T and DirecTV documents which indicated the merged company can operate its pay TV business as a "cash cow" while switching to new models.

AT&T's CEO said the company has offered concrete solutions to resolve concerns and it ready to go to trial as soon as possible.

AT&T closed Monday at $34.64, up $0.13. Time Warner closed at $87.71, down $1.01. 


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Posted-In: Aetna AT&T Bloomin' Brands Cavium CVS hain celestial groupM&A News