Market Overview

Benzinga's M&A Chatter for Thursday September 13, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday September 13, 2012:

Hearing Whiting Petroleum Hired Bank of America as Adviser

The Rumor:
Whiting Petroleum (NYSE: WLL) surged higher on a report from Deal Reporter the company has hired Bank of America/Merrill Lynch as an adviser to explore strategic alternatives, which could include a possible sale.

A spokesperson for Whiting Petroleum declined comment on the rumor.

Whiting Petroleum closed at $51.75 Thursday, a gain of 4.82% on 2.5 times average volume.

Staples May be Attracting PE Interest

The Rumor:
Staples (NASDAQ: SPLS) has attracted private equity interest, according to Fortune. Among those companies rumored to be bidding is Bain Capital, which financed the launch of Staples in 1986.

A Staples spokesperson was not available for comment.

Staples closed at $11.96 Thursday, a gain of 3.64% on 3 times average volume.

Hearing Kraft Could Make an Offer to Acquire SodaStream

The Rumor:
SodaStream International (NASDAQ: SODA) could be a takeover target of Kraft (NYSE: KFT), according to sources. Kraft and Pepsico (NYSE: PEP) have been mentioned previously as potential suitors for the Israel-based maker of home beverage carbonation systems.

Spokespersons for SodaStream and Kraft declined comment on the rumor.

SodaStream International closed at $41.212 Thursday, a gain of 1.28% on average volume.

Edelman Financial Group Shareholders Approve Merger Agreement

The Merger:
Edelman Financial Group (NASDAQ: EF) announced that its shareholders voted Thursday to adopt the previously announced merger agreement with an affiliate of Lee Equity Partners, a New York private equity firm.

The parties intend to consummate the merger on September 19, 2012. Upon consummation of the merger, TEFG shareholders will receive $8.85 in cash for each share of TEFG common stock. At the completion of the transaction, TEFG will become a privately held company and its stock will no longer trade on the Nasdaq Stock Market.

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


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