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Benzinga's M&A Chatter for Tuesday October 23, 2012


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

Heelys Announces $13.9M Asset Purchase Agreement with Evergreen Group

The Deal:
Heelys (NASDAQ: HLYS) and Evergreen Group Ventures, LLC announced Tuesday that on October 22, 2012, they entered into a definitive asset purchase agreement under which an affiliate of Evergreen will acquire substantially all of the operating assets and assume substantially all of the operating liabilities of Heelys and its subsidiaries for $13.9 million in cash, subject to customary pre- and post-closing adjustments. Heelys' cash and marketable securities, which totaled approximately $58.2 million as of June 30, 2012, will not be included in the assets to be acquired in the Transaction. The Transaction was unanimously approved by Heelys' board of directors.

Heelys closed at $2.26 Tuesday, a gain of 22.16% on 41 times average volume.

Nationstar's $2.67B Bid Tops $2.65B Ocwen Bid for ResCap Mortgage Assets

The Auction:
Nationstar Mortgage Holdings (NYSE: NSM) bid $2.67 billion at the bankruptcy auction for Residential Capital's mortgage assets on Tuesday. Their bid topped Ocwen Financial's (NYSE: OCW) $2.65B bid, according to the Wall Street Journal.

Nationstar and Ocwen are apparently the only bidders competing for the ResCap assets.

Residential Capital is the mortgage subsidiary of Ally Financial. It filed for Chapter 11 bankruptcy protection in May.

Nationstar Mortgage Holdings closed at $34.86 Tuesday, a gain of 1.51% on 3 times average volume. Ocwen Financial closed at $36.20 Tuesday, a loss of 1.68% on 1.5 times average volume.

Hearing Sarepta a Possible Takeover Target

The Rumor:
Sarepta Therapeutics (NASDAQ: SRPT) could be a potential takeover target, according to The Street's Adam Feuerstein.

A spokesperson for Sarepta was not available for comment.

Sarepta Therapeutics closed at $23.33 Tuesday, a loss of 3.32% on lower than average volume.

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