Benzinga's M&A Chatter for Tuesday October 4, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, October 4, 2016:

Sompo Japan in Talks to Acquire Endurance Specialty Holdings

The Talks:
Sompo Japan Nipponkoa Insurance is planning purchase all of Endurance Specialty Holdings shares without a tender offer, in a deal valued around $6.5 billion, according to sources as reported by Nikkei on Tuesday. The sources say a deal could be announced as soon as Wednesday. Endurance responded with a statement later, confirming that it is in advanced discussions with Tokyo-based Sompo Holdings regarding a potential deal. Endurance said it does not intend to comment further at this time. Sompo, in a press release on Wednesday in Japan, said it will make a decison on Wednesday on the acquisition of Endurance.

Endurance Specialty Holdings closed at $87.87 on Tuesday, up 35%.

Hearing Black & Decker Has Shown Interest in Sears' Craftsman Division

The Rumor:
Shares of Sears Holdings (NASDAQ: SHLD) spiked to a high of $13.69 following a report that Stanley Black & Decker (NYSE: SWK), Techtronic Industries, Apex Tool Group and Sweden’s Husqvarna AB have shown interest in acquiring the retailer's Craftsman division, according to a report from Bloomberg. The unit could be valued at approximately $2 billion, according to sources. Sears Holdings closed at $12.10 on Tuesday, up 6.42%.

Chevron Said to be in Talks to Acquire Apache for $88/Share

The Rumor:
Chevron (NYSE: CVX) is said to be in talks to acquire Apache (NYSE: APA) in a cash deal valued at $36 billion dollars or 88 dollars per share, according to sources. The unconfirmed market chatter sent Apache shares soaring to a high of $65.81. Apache investor relations told Benzinga "We do not comment on market rumors."

Apache closed at $63.79 on Tuesday, down 2.26%. 

Team Health Exploring Possible Sale to PE Firm 

The Rumor:
Team Health Holdings Inc.(NYSE: TMH) is said to be exploring a potential sale to a private-equity firm, according to sources as reported by the Wall Street Journal on Tuesday. The company is said to be in talks with Blackstone Group LP (NYSE: BX) and Bain Capital, according to sources.

AmSurg Corp. (NASDAQ: AMSG) withdrew an offers to acquire Team Health last November after the latter failed to engage in discussions.

Team Health closed at $38.20 on Tuesday, up 16.46%.