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Benzinga's M&A Chatter for Monday January 28, 2013

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January 28, 2013 5:33 pm
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Benzinga's M&A Chatter for Monday January 28, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday January 28, 2013:

Elliott Management Elliott May Seek to Acquire Shares Valued at More than $800M

The Stock Purchase:
Hess Corporation (NYSE: HES) announced Monday, that Elliott Associates, L.P. and its associated entity Elliott International Limited notified Hess this past Friday in writing that they intend to file a Hart-Scott-Rodino Notification and Report Form seeking regulatory clearance to acquire additional Hess shares beyond those they may already own, if any. The correspondence suggests that Elliott may seek to acquire shares valued at more than $800 million.

Hess also announced that it will pursue the sale of its terminal network in the United States and will complete its exit from the refining business by closing its Port Reading, New Jersey refinery.

Hess closed at $62.48 Monday, a gain of 6% on 4 times average volume.

BlackRock to Invest $80M in Twitter

The Confirmation:
BlackRock (NYSE: BLK) will invest $80 million in Twitter, a source confirmed to Benzinga on Monday. The deal values the microblogging platform at more than $9 billion.

BlackRock closed at $234.86 Monday, a loss of $1.56 on higher than average volume.

Transocean Rises on Icahn Stake

The Stake:
Shares of Transocean (NYSE: RIG) rose Monday as Carl Icahn reported in a filing Friday that he now owns a 5.6% stake. Icahn said he is pushing for a dividend of $4.00 per share.

Transocean closed at $58.17 Monday, a gain of 2.48% on twice average volume.


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