Market Overview

Benzinga's M&A Chatter for Friday January 20, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday January 20, 2012:

Cliffs Natural Resources to Acquire Walter Energy

The Rumor:
Cliffs Natural Resources (NYSE: CLF) to acquire Walter Energy (NYSE: WLT), according to Coal & Energy Price Report.

Walter Energy's weekly rumor. The last rumor was reported on January 11. Benzinga spoke to representatives from both Cliff's and Walter Energy, but neither would comment.

Walter Energy closed at $66.39 Friday, a gain of 6.04% for the day on more than twice the average daily volume.

Exxon Mobil to Acquire Peabody Energy

The Rumor:
Exxon Mobil (NYSE: XOM) to acquire Peabody Energy (NYSE: BTU) for $55 per share.

Spokespersons for Exxon and Peabody could not be reached for comment.

Peabody Energy closed at $37.85 Friday, a gain of 0.29% for the day on 1.25 times the average daily volume.

Talbots to be Acquired by Private Equity

The Rumor:
Talbots (NYSE: TLB) to be acquired by private equity, according to CNBC. Golden Gate and TPG were among the companies mentioned as potential buyers.

Talbots responded with a press release:

" view of the unusual market activity in Talbots common stock, the NYSE has contacted the Company in accordance with its usual practice. As a matter of company policy, Talbots stated that it will not comment on the market activity."

Talbots closed at $3.19 Friday, a gain of 18.59% for the day on 6 times the average daily volume.

Idenix Pharmaceuticals to be Acquired

The Rumor:
Idenix Pharmaceuticals (NASDAQ: IDIX) to be acquired, according to a survey of investors at a meeting held by ISI Group biotech analyst Mark Schoenebaum.

79% of the investors surveyed said Idenix had more than a 50% chance of being acquired for its hepatitis C treatment.

Idenix has been the frequent subject of takeover chatter, since the Bristol-Myers Squibb acquisition of Inhibitex for $26 per share.

The same group of investors was surveyed on an Achillion Pharmaceuticals (NASDAQ: ACHN) buyout and were split about 50-50.

Idenix closed at $14.09 Friday, a loss of 4.93% for the day on more than twice the average daily volume.

Polycom to be Acquired

The Rumor:
Polycom (NASDAQ: PLCM) has been approached by several interested buyers, according to sources.

Polycom did not respond to a request from Benzinga for comments.

Polycom closed at $17.74 Friday, a loss of 1.83% for the day on about the average daily volume.

Sears Holdings to be Taken Private

The Rumor:
Sears Holdings (NASDAQ: SHLD) to be taken private by majority shareholder and Chairman, Edward Lampert.

There has been no confirmation of any kind that such a deal is in the works, though it has been discussed by the media in-depth over the past week. Lampert purchased 4.8 million shares of Sears on January 12 at $29.26. The stock traded as high as $51.17 on Friday, a gain of 75% or $105 million.

Sears Holdings closed at $49.00 Friday, a gain of 13.03% for the day on 4 times the average daily volume.

Posted-In: Long Ideas M&A News Short Ideas Rumors FDA Insider Trades After-Hours Center


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