Benzinga's M&A Chatter for Thursday February 28, 2013

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

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Best Buy

founder Richard Schulze reportedly has given up in his attempt to acquire the electronics retailer, according to the

. Schulze will instead attempt to to expand his Best Buy stake and acquire a third Board seat, according to sources. A Best Buy spokesperson declined comment on the report. Best Buy closed at $16.41 Thursday, a loss of 1% on higher than average volume.

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Shares of US Steel

moved higher early Wednesday, on unconfirmed market chatter of a bid by Thyssenkrupp. Arcelor Mittal

has also been previously rumored to have an interest in US Steel. A spokesperson for US Steel declined comment on the rumor. A Thyssenkrupp spokesperson was not available for comment. US Steel closed at $20.84 Thursday, a loss of 1% on higher than average volume.

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Facebook

has acquired Atlas from Microsoft

for a price believed to be below $100 million.

. Facebook closed at $27.25 Thursday, a gain of 1.5% on higher than average volume.

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Herbalife

announced Thursday that it has reached an agreement with Carl Icahn, under which Herbalife will increase the size of its Board of Directors from nine to eleven members immediately before the 2013 Annual General Meeting of Shareholders. Herbalife's Board of Directors will nominate two individuals to the Company's Board of Directors, designated by Icahn and approved by the Company's Nominating and Corporate Governance Committee. Under the terms of the agreement, Icahn has the right to increase the size of his stake in Herbalife to up to 25% of the outstanding common stock. In an interview on

, Icahn said he would like to increase his stake to 25%, but he was not sure if he would do so at the current share price. Herbalife closed at $40.29 Thursday, a gain of 7.5% on Average Volume.