Market Overview

Wall Street's M&A Chatter From November 29: Nokia-Juniper, Tyler Technologies-Radio 10-33, Medicines Co-Melinta Therapeutics

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, November 29, 2017.

The Medicines Company to Sell its Infectious Disease Business Unit to Melinta Therapeutics for $270M

The Deal

The Medicines Company (NASDAQ: MDCO) agreed to sell its infectious disease business unit to Melinta Therapeutics, Inc. (NASDAQ: MLNT) for $270 million upfront, consisting of $215 million in cash and $55 million of Melinta common stock, plus tiered royalty payments of 5% to 25% on worldwide net sales of Vabomere, Orbactiv and Minocin IV, and the assumption by Melinta of all royalty, milestone and other payment obligations relating to those products.

The transaction is expected to close in Q1 of 2018,

Melinta Therapeutics closed Wednesday at $15.20, up 20 cents.

Tyler Technologies Acquires Radio 10-33

The Deal:

Tyler Technologies, Inc. (NYSE: TYL) acquired audio and digital two-way radio communications technology and related assets from Radio 10-33. Terms were not disclosed.

"We are looking forward to integrating this advanced technology with our public safety solutions," said Greg Sebastian, president of Tyler's Public Safety Division. "Radio integration with a public safety software system is a significant benefit, providing backup for important information and assisting neighboring agency interoperability. We are always seeking best-of-breed technology to continuously improve service to existing and future clients."

During the coming months, Radio 10-33's technology and services offerings will be integrated into Tyler operations and branding.

Tyler Technologies closed at $197.13, up $6.09.

Cineworld Confirms $23/Share Offer for Regal Entertainment

The Offer:

Cineworld confirmed it's in advanced talks with Regal Entertainment Group (NYSE: RGC) regarding the acquisition of Regal at $23.00 per share. Regal confirmed the talks on Wednesday. Regal said no agreement has yet been reached, and there will be no further comment until an agreement is reached, or talk are terminated.

Regal Entertainment closed at $20.17 and traded at $20.80 after hours.

Nokia Denies Juniper Networks Report

The Rumor:

Nokia (NYSE: NOK) denied a CNBC report that it's in talks to acquire Juniper Networks (NASDAQ: JNPR). Sources say Nokia's offer values Juniper at approximately $16 billion.

"Nokia is not currently in talks with, nor is it preparing an offer for, Juniper Networks related to an acquisition of that company'," the company said in a release.

Juniper Networks closed at $29.61 and traded as high as $36.92 after hours, but fell down to the $27.34 area after the rumor was rebuffed.

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

 

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