Market Overview

Benzinga's M&A Chatter for Friday December 21, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday December 21, 2012:

Carl Icahn Sells Greenbrier Shares after Company Rejects American Railcar $22/Share Bid

The Rejection:
Investor Carl Icahn sold most of his holdings in Greenbrier Companies (NYSE: GBX) Friday, following the company's rejection of American Railcar's (NASDAQ: ARII) revised $22 per share offer.

Greenbrier Companies reaffirmed late Thursday that American Railcar Industries' conditional proposal to acquire Greenbrier for $22 per share was unacceptable and not in the best interests of Greenbrier stockholders.

Greenbrier closed at $16.14 Friday, a loss of 11% on 6.5 times average volume.

Gardner Denver Sale Talks with SPX Said to Have Ended

The Rumor:
Shares of Gardner Denver (NYSE: GDI) fell sharply Friday on a report from Reuters that they have ended sale talks with SPX Corp. (NYSE: SPW). Both Bloomberg and Deal Reporter had reported the companies were close to a deal, whereby SPX would acquire Gardner Denver for $4 billion or more.

According to Reuters, Gardner Denver has requested meetings with private equity firms to discuss a possible deal next month.

Gardner Denver closed at $67.40 Friday, a loss of almost 11% on 10 times average volume.

Groupon Acquires CommerceInterface

The Deal:
Groupon (NASDAQ: GRPN) announced Friday it has acquired CommerceInterface, a leading provider of web-based channel management technology that helps manufacturers, distributors and retailers succeed at managing their businesses and selling online. Terms of the deal were not disclosed.

Groupon closed at $4.82 Friday a gain of $0.03 on lower than average volume.

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