Market Overview

Benzinga's M&A Chatter for Thursday February 23, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday February 23, 2012:

Hearing Alibaba in Talks to Acquire Renren

The Rumor:
Alibaba (ALBCF) is in talks to acquire Renren (NYSE: RENN), according dealReporter. Renren was recently named as a target of Baidu (NASDAQ: BIDU). The share price has fallen sharply from its IPO high of 24 in May 2011.

A spokesperson for Renren was not available for comment.

Renren closed at $5.19 Thursday, a loss of 1.33% on average volume.

Hearing Illinois Tool Works May Acquire Manitowoc

The Rumor:
Illinois Tool Works (NYSE: ITW) has presented Manitowoc (NYSE: MTW) with an offer of $25 per share, according to sources.

Benzinga contacted both companies, but did not receive a reply.

Manitowoc closed at $16.13 Thursday, a gain of 0.50% for the day on 1.5 times the average volume.

CITIC Capital Continues Talks to Acquire AsiaInfo-Linkage

The Rumor:
Chinese private equity firm CITIC Capital is in talks to acquire AsiaInfo-Linkage (NASDAQ: ASIA).

A spokesperson for AsiaInfo-Linkage confirmed to Benzinga that the two sides are in discussions, but would not comment on rumors that the acquisition price was between $15 and $17 per share.

AsiaInfo-Linkage closed at $12.89 Thursday, a loss of 0.77% for the day on slightly less than average volume.

Hearing Vague Chatter of Apple Takeover of Fusion-Io

The Rumor:
Apple may have an interest in acquiring Fusion-io, according to an interpretation of comments made by CEO Tim Cook at Apple's shareholder meeting. Fusion-io has been a frequent takeover name with Intel (NASDAQ: INTC) and NetApp (NASDAQ: NTAP) among potential buyers recently mentioned.

A spokesperson for Fusion-io was not available for comment.

Fusion-io closed at $27.60 Thursday, a gain of 3.25% for the day on average volume.

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