Market Overview

Benzinga's M&A Chatter for Thursday February 9, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday February 9, 2012:

Oracle Buys Taleo

The Deal:
Oracle (NASDAQ: ORCL) announced Thursday that it has entered into an agreement to acquire Taleo Corporation (NASDAQ: TLEO) for $46.00 per share or approximately $1.9 billion, net of Taleo's cash and debt. Taleo's Talent Management Cloud helps organizations attract, develop, motivate and retain human capital to improve performance and drive growth.

The Board of Directors of Taleo has unanimously approved the transaction. The transaction is expected to close mid-year 2012, subject to Taleo stockholder approval, certain regulatory approvals and other customary closing conditions.

Taleo shares closed at $45.64 Thursday, a gain of 17.21% on 41 times the average daily volume.

GlaxoSmithKline to Acquire Human Genome Sciences

The Rumor:
GlaxoSmithKline (NYSE: GSK) to acquire Human Genome Sciences (NASDAQ: HGSI) for up to $17 per share, according to sources.

Human Genome has been a frequent takeover name and the same two companies were mentioned as a possible combination on January 25.

Benzinga contacted representatives from both Human Genome and Glaxo. Neither would comment on the rumor.

Human Genome Sciences shares closed at $10.00 Thursday, a gain of 1.21% on average volume.

Carl Icahn Says Illumina Worth $80

The Rumor:
Investor Icahn Capital says Illumina is worth as much as $80 per share, according to reports. On January 24, Roche (RHHBY) offered $44.50 per share for Illumina. That offer was rejected by Illumina's Board on February 7.

A spokesperson for Illumina had no comment on the reported Icahn price target for the company's stock.

Illumina closed at $53.17, a gain of 1.97% for the day on 73% of the average daily volume.

Alliance Holdings to Acquire James River Coal

The Rumor:
Alliance Holdings (NASDAQ: AHGP) to acquire James River Coal (NASDAQ: JRCC) for $9.74 per share, according to sources.

Spokespersons for Alliance and James River could not be reached for comment.

James River Coal closed at $6.89, a loss of 0.14% for the day on 81% of the average daily volume.

Caterpillar, Deere to Acquire Cummins, Manitowoc

The Rumor:
Caterpillar (NYSE: CAT) and Deere (NYSE: DE) are candidates to acquire Cummins (NYSE: CMI) and/or Manitowic (NYSE: MTW), according to a Seeking Alpha article.

A spokesperson for Deere would not comment on the rumor, while Benzinga was not able to contact a representative from the other companies mentioned in the article.

Manitowoc closed at $16.64 Thursday, a gain of 1.59% for the day on slightly more than average volume.

Cummins closed at $121.24 Thursday, a gain of 1.39% for the day on average volume.

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