Market Overview

Benzinga's M&A Chatter for Thursday December 6, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday December 6, 2012:

BHP Could Offer $55/Share for Walter Energy

The Rumor:
BHP Billiton (NYSE: BHP) could offer $55 per share to acquire Walter Energy (NYSE: WLT), according to the UK Daily Mail. BHP has been mentioned on several occasions as a possible suitor for Walter Energy, going back to May 2012.

A source told Benzinga BHP has no interest in Walter Energy. A Walter Energy spokesperson was not available for comment.

Walter Energy closed at $33.35 Thursday, a gain of 5% on more than twice average volume.

Epoch Holding Corporation to Merge with TD Bank in $668M Deal

The Deal:
Epoch Holding Corporation (NASDAQ: EPHC) announced Thursday that it has entered into a merger agreement with TD Bank Group (NYSE: TD). The common stock of Epoch Holding Corporation, the parent of Epoch Investment Partners, Inc., will be acquired by TD Bank Group for cash consideration of approximately $668 million. Epoch stockholders will receive $28.00 in cash per share, representing a premium of approximately 28% to Epoch's closing price on December 5, 2012.

Epoch Holding Corporation closed at $27.69 Thursday, a gain of 26% on 169 times average volume.

Google Could Buy Tivo in Lieu of Settlement

The Rumor:
Google (NASDAQ: GOOG) could acquire Tivo (NASDAQ: TIVO) in lieu of a settlement of their patent dispute, according to a note from Janney. Janney said the Google Premium for TiVo would have to exceed 50%.

Spokespersons for Tivo and Google were not available for comment.

Tivo closed at $11.98 Thursday, a gain of 3.5% on 1.5 times average volume.

Takeover Talks between Best Buy, Founder Schulze Still on Track

The Rumor:
Talks between Best Buy (NYSE: BBY) and founder Richard Schulze are still on track, according to Deal Reporter. According to a source, the financing plan developed by Credit Suisse, would emerge imminently.

Best Buy closed at $12.36 on Thursday, a gain of 2% on higher than average volume.

Hearing Chatter Hillshire Attracting Takeover Interest

The Rumor:
Hillshire Brands (NYSE: HSH) could receive bids from Tyson Foods (NYSE: TSN) and Hormel (NYSE: HRL), according to Deal Reporter.

A spokesperson for Hillshire Brands was not available for comment.

Hillshire Brands closed at $28.30 Thursday, a gain of $0.37 on 1.5 times average volume.

MetroPCS CFO Says T-Mobile Deal to be Completed in FH 2013

The Deal:
MetroPCS (NYSE: PCS) CFO Braxton Carter said the MetroPCS merger with Deutsche Telekom's (OTC: DTEGY) T-Mobile is on track to be completed in the first half of 2013, according to Bloomberg. A rumored counterbid from Sprint (NYSE: S) has not materialized.

MetroPCS closed at $10.37 Thursday, a gain of $0.27 on lower than average volume.

Hearing Renewed Takeover Chatter in Starwood Hotels

The Rumor:
Starwood Hotels (NYSE: HOT) was the subject of renewed takeover chatter on Thursday. According to sources, a Singapore pension fund has approached Starwood with a $70 per share offer. The same rumor has been reported several times since February 2012.

A spokesperson for Starwood was not available for comment.

Starwood Hotels closed at $54.13 Thursday, a gain of 2% on average volume.

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


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