Market Overview

Benzinga's M&A Chatter for Tuesday October 2, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday October 2, 2012:

MetroPCS Confirms Merger Talks with Deutsche Telekom's T-Mobile

The Talks:
MetroPCS (NYSE: PCS) confirmed Tuesday they are in merger talks with Deutsche Telekom's (OTC: DTEGY) T-Mobile unit. That confirms earlier chatter. T-Mobile was mentioned as one of several potential buyers in a September 27 report from dealReporter.

MetroPCS closed at $13.57 Tuesday, a gain of 17.80% on 5 times average volume.

Hearing Roche is Preparing $60/Share Bid for Illumina

The Rumor:
Roche (OTC: RHHBY) is preparing to bid $60 per share for Illumina (NASDAQ: ILMN), according to The Times. Roche offered $51 per share in April and said at the time a higher offer would not be in shareholders best interest.

Illumina closed at $51.00 Tuesday, a gain of 4.02% on 7 times average volume.

Alex Roepers Mentions Several Potential Takeover Targets

The Ideas:
Alex Roepers of Atlantic Investment Management mentioned his takeover ideas at the Value Investing Congress on Tuesday. Roepers mentioned Joy Global (NYSE: JOY), with at $105 price target. Also mentioned were Rockwood Holdings (NYSE: ROC) and Energizer Holdings (NYSE: ENR).

Joy Global closed at $56.27 Tuesday, a gain of 0.27% on lower than average volume.

Rockwood Holdings closed at $47.37 Tuesday, a gain of 0.80% on average volume.

Energizer Holdings closed at $74.26 Tuesday, a gain of 0.47% on lower than average volume.

Posted-In: Long Ideas News Short Ideas Rumors M&A Events Global After-Hours Center


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