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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday March 21, 2012:
Zynga Buys OMGPOP for $200MThe Deal:
Zynga
ZNGA announced Wednesday it has acquired New York-based social game developer OMGPOP, makers of the popular cultural hit mobile game, Draw Something, and over 35 additional social games. As a part of the Zynga family, OMGPOP will focus on building new mobile IP and strengthening its existing portfolio of fun and creative social games.
"The OMGPOP team has created a game that's fun, expressive and engenders real social interaction," said Mark Pincus, founder and CEO of Zynga. "Draw Something has captured the imagination of millions of people around the world. We love the way they've worked playful and relevant culture into their games from Devo to Daft Punk, from Lin to Beckham. We're honored to have the opportunity to partner with and support such an innovative team of creative inventors."
OMGPOP will remain headquartered in New York and report to David Ko, Chief Mobile Officer of Zynga.
Zynga closed at $13.72 Wednesday, a gain of 2.54% on 1.8 times the average daily volume.
Hearing Qualcomm to Buy JDS UniphaseThe Rumor:
Qualcomm
QCOM to buy JDS Uniphase
JDSU, according to sources. The price being mentioned is $21.50 per share. Cisco
CSCO was mentioned as a possible buyer at $13.50 back in December, but JDSU's share price has risen 40% since then.
Benzinga spoke with representatives of both Qualcomm and JDS Uniphase Wednesday, but neither would comment on the rumor.
JDS Uniphase closed at $14.15 Wednesday, a gain of 0.28% on 71% of the average daily volume.
Hearing Novagold Resoruces is for SaleThe Rumor:
Novagold Resources
NG has put itself up for sale, according to
dealReporter. Barrick Gold
ABX is the rumored buyer. On March 12, Barrick Gold was rumored to be buying Agnico Eagle Mines
AEM for $50 per share.
A spokesperson for Barrick Gold would not comment on the rumor. A representative of Novagold was not available for comment.
Novagold Resources closed at $7.13 Wednesday, a gain of 2.44% on more than twice the average daily volume.
Watson Pharmaceutical Close to Deal to Buy Generic Drugmaker Actavis For between 5.0B And 5.5B Euros:
Watson Pharmaceutical
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is close to a deal to buy generic drugmaker Actavis for between 5.0 billion And 5.5 billion Euros.
A Watson Pharmaceutical spokesperson would not confirm the report.
Watson Pharmaceutical shares rose steadily throughout the day Wednesday and closed at $63.69, a gain of 8.82% on average volume.
Hearing Renewed Toshiba Interest in SanDiskThe Rumor:
Toshiba (TOSBY) is rumored once again to have an interest in acquiring SanDisk
SNDK for $62 per share. A similar rumor surfaced in January involving the same two companies, with a $60 offer.
A spokesperson for SanDisk would not comment on the rumor. A Toshiba spokesperson was not available.
SanDisk closed at $51.29 Wednesday, a gain of 2.66% on 1.25 times average volume.
Hearing Sanofi Eyeing a Buyout of DendreonThe Rumor:
Sanofi
SNY is looking at a takeover of Dendreon
DNDN, according to sources. The rumored sale price is between $16 and $18 per share. A March 13 rumor had GlaxoSmithKline
GSK offering between $17 and $19 for the maker of the prostate cancer treatment Provenge.
Spokespersons for Dendreon and Sanofi were not available for comment.
Dendreon closed at $10.12 Wednesday, a gain of 1.91% on 65% of the average daily volume.
Hearing Chevron in Talks to Acquire TesoroThe Rumor:
Chevron
CVX is in talks to acquire Tesoro
TSO for $6 billion, according to sources.
A spokesperson for Tesoro would not comment on the report. A Chevron representative was not available for comment.
Tesoro closed at $28.64 Wednesday, a loss of 0.90% on average volume.
Hearing Lilly Looking to Acquire Forest LabsThe Rumor:
Eli Lilly
LLY has an interest in acquiring Forest Labs
FRX, according to sources.
Spokespersons for Forest Labs and Eli Lilly were not available for comment.
Forest Labs closed at $33.34 Wednesday, a loss of 0.30% on 1.5 times the average daily volume.
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