Market Overview

Wall Street's M&A Chatter From December 15-17: Humana-Kindred Healthcare, Target-Shipt, Campbell Soup-Snyder's-Lance


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, Dec. 15 through Sunday, Dec. 17, 2017.

Humana, PE Firms in Advanced Talks to Acquire Kindred Healthcare for $9/Share

The Rumor

Humana Inc. (NYSE: HUM) is in advanced talks to acquire home-care provider Kindred Healthcare Inc. (NYSE: KND) in a deal that would value the company at $9.00 per share, according to the Wall Street Journal. Under the terms of a deal, Kindred would be divided, with private equity firms Welsh, Carson, Anderson & Stowe and TPG acquiring Kindred's facility-focused business.

Kindred has an enterprise value of about $4 billion, including debt. A deal could be annouced soon, but talks could still fall apart, sources said.

Kindred Healthcare closed Friday at $8.60, up 45 cents.

Target to Acquire Shipt for ~$550M in Cash

The Deal

Target Corporation (NYSE: TGT) announced Friday it agreed to acquire online same-day delivery platform, Shipt, Inc. for $550 million in cash. Target is planning to offer same-day delivery services to customers at about half of its stores by early 2018 and the majority of Target stores before the 2018 holiday season.

The deal is expected to close prior to the end of calendar year 2017.

Campbell Soup in Advanced Talks to Acquire Snyder's-Lance

The Rumor:

Campbell Soup (NYSE: CPB) is in advanced talks to acquire Snyder's-Lance (NASDAQ: LNCE), according to sources as reported by CNBC. A deal could be announced as soon as next week, the sources said, and could value Snyder's at roughly $50 a share, one of the sources said.

There was another company in talks with Snyder's, though it's unclear if that company is still engaged, the source added.

The sources, who requested anonymity because the information is confidential, said it remains possible the deal is delayed or falls apart. A representative for Campbell declined to comment. Snyder's-Lance did not immediately respond to requests for comment.

Snyder's-Lance closed at $46.79, up $2.37.

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


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