Market Overview

Wall Street's M&A Chatter From December 5: Regal Entertainment-Cineworld, Disney-Fox, Bill Barrett-Fifth Creek Energy


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, December 5, 2017.

Regal Entertainment Group Signs Definitive Agreement to Be Acquired by Cineworld Group for $23/Share in Cash

The Deal

Regal Entertainment Group (NYSE: RGC) entered into a definitive merger agreement with Cineworld Group PLC, under which Cineworld will acquire Regal for $23.00 per share in cash. The total transaction value is $5.9 billion, including the assumption of debt and net of cash acquired.

The transaction has been approved unanimously by Regal's and Cineworld's Boards of Directors. It is subject to shareholder approval at both companies and is expected to close in Q1 of 2018.

Regal Entertainment Group closed Tuesday at $22.68, up $1.95.

Disney, 21st Century Fox Reportedly Move Closer to a Deal

The Rumor

Walt Disney Co (NYSE: DIS) and Twenty-First Century Fox (NASDAQ: FOXA) are near a deal for Disney to acquire Fox's studio and television production assets valued at more than $60 billion, according to sources as reported by CNBC. A deal would include Fox's NatGeo, Star, regional sports networks, movie studios and stakes in Sky and Hulu.

Assets not part of the deal are Fox's news and business news divisions, broadcast network and Fox sports. A deal could be announced next week, the sources said.

21st Century Fox closed at $32.99, down 10 cents.

Bill Barrett Announces Strategic Combination With Fifth Creek Energy in $649M Transaction

The Deal

Bill Barrett Corporation (NYSE: BBG) agreed to a strategic business combination with NGP portfolio company, Fifth Creek Energy Company, in a deal valued at approximately $649 million. The combined company will have a combined acreage position of approximately 151,100 net acres and an inventory of 2,865 highly-economic future drilling locations.

Under the terms of the transaction, Bill Barrett's stockholders will exchange their Bill Barrett common stock for New BBG common stock on a 1-for-1 basis, and Fifth Creek's current sole owner will receive 100 million shares of the New BBG's common stock.

The transaction is expected to close late in Q1 or early in Q2 of 2018, subject to approval of the company's shareholders.

Bill Barrett closed at $5.72, and traded at $5.37 after-hours.

Crane Co. to Acquire Crane & Co., Inc. for $800 Million

The Deal

Crane Co. (NYSE: CR) signed an agreement to acquire 100 percent of the equity interests in Crane & Co., Inc. from private equity firm Lindsay Goldberg, members of the Crane family, and other shareholders, for $800 million on a cash free and debt free basis. The transaction is expected to close in Q1 of 2018.

Crane Co. closed at $82.54, down $1.36.


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