Market Overview

Benzinga's M&A Chatter for Wednesday September 12, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday September 12, 2012:

Abercrombie & Fitch Hires Goldman Sachs as Adviser

The Offer:
Abercrombie & Fitch (NYSE: ANF) has hired Goldman Sachs as an adviser, according to sources. Leonard Green has been mentioned in the past as a possible buyer. Shares surged sharply higher on the report.

A spokesperson for Abercrombie & Fitch was not available for comment.

Abercrombie & Fitch closed at $37.92 Wednesday, a gain of 5.42% on 4 times average volume.

Merge Healthcare Attracts PE Interest

The Rumor:
Merge Healthcare (NASDAQ: MRGE) has attracted private equity interest in the $5 to $6 range, according to Deal Reporter. The company announced on September 6 that they had hired Allen & Company to explore strategic alternatives, including a possible sale.

A company spokesperson had no comment beyond the September 6 announcement.

Merge Healthcare closed at $3.66 Wednesday, a gain of 7.33% on 4 times average volume.

Cypress Semiconductor Extends Offer to Acquire Ramtron International

The Offer:
Cypress Semiconductor (NASDAQ: CY) announced Wednesday that it has extended its tender offer to acquire all of the outstanding stock of Ramtron International Corporation (NASDAQ: RMTR) for $2.88 per share in cash to 5:00 p.m., New York City time, on September 25, 2012. The offer was previously scheduled to expire at 5:00 p.m., New York City time, on September 11, 2012. Cypress's offer represents a 59% premium over Ramtron's closing price of $1.81 per share on June 11, 2012, the day before Cypress publicly disclosed its offer for Ramtron. Except for the extension of the expiration date, all other terms and conditions of the offer remain unchanged. The all-cash offer is not conditioned on due diligence or financing.

Ramtron International closed at $2.90 Wednesday, a gain of 1.05% on lower than average volume.

Posted-In: Long Ideas News Short Ideas Rumors M&A After-Hours Center Movers Trading Ideas


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