Market Overview

Wall Street's M&A Chatter From December 1-3: CVS-Aetna, Disney-Fox, Mattel


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, December 1, through Sunday December 3, 2017.

CVS Health Confirms it will Acquire Aetna for $207/Share in Cash, Stock

The Deal:

CVS Health Corp (NYSE: CVS) and Aetna Inc (NYSE: AET) confirmed Sunday a definitive merger agreement, under which CVS will acquire Aetna for a $207 per share, consisting of $145.00 per share in cash and 0.8378 CVS Health shares for each Aetna share. The transaction values Aetna at approximately $69 billion.

The transaction is expected to close in H2 of 2018, subject approval by both company's shareholders and regulatory approvals.

Aetna closed Friday at $181.31, up $1.13.

Disney Has Reportedly Re-Engaged Deal Talks With 21st Century Fox

The Rumor

Walt Disney Co (NYSE: DIS) is said to have restarted discussions with 21st Century Fox (NASDAQ: FOXA) to acquire certain Fox assets, according to a report from the Wall Street Journal on Saturday. The assets being discussed include Fox's movie and TV studio and Fox's 39 percent stake in Sky PLC, sources have said. Those assets not part of a potential deal, include Fox News, the Fox broadcast network and FS1.

The Murdochs are expected to make a decision on deal by the end of the year, the sources said.

21st Century Fox closed at $32.19, up 25 cents.

Traders Circulate Renewed Chatter of Hasbro Interest in Mattel Acquisition

The Rumor:

Shares of Mattel Inc. (NYSE: MAT) spiked higher briefly on Friday, as traders circulated renewed unconfirmed chatroom chatter of interest from rival Hasbro Inc (NYSE: HAS). Sources said the companies were in late stage talks for a deal at $25.00 per share.

Multiple reports surfaced earlier this month that Mattel had rejected an approach from Hasbro, while another report mentioned Disney as a potential suitor.

Mattel closed at $17.26, down 99 cents.

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


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