Courtesy of Benzinga.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday September 16, 2014:
Endo Proposes to Acquire Auxilium Pharmaceuticals for $28.10/Share in Cash, Stock
The Offer:
Endo International (NASDAQ: ENDP) announced Tuesday, that it has delivered a proposal to acquire all outstanding shares of Auxilium Pharmaceuticals (NASDAQ: AUXL) for $28.10 in a cash and stock, for a transaction value of $2.2 billion. The proposal includes approximately an equal mix of cash and Endo shares.
Auxilium Pharmaceuticals shares closed Tuesday at $21.52, and traded over $30.00 after-hours.
Rackspace Ends Strategic Review Process
The Review Process:
Shares of Rackspace (NYSE: RAX) plummeted after-hours Tuesday, following the announcement that the company has ended its evaluation of alternatives that would result in Rackspace being acquired. Rackspace has decided to remain independent. It also announced Taylor Rhodes as its new CEO.
Bloomberg had reported on September 8 that CenturyLink (NYSE: CTL) was seeking an acquisition of Rackspace.
Rackspace shares closed Tuesday at $39.34, and fell to a low of $31.80 after-hours.
Report SodaStream in Talks to Sell Itself to British Fund for $840M
The Rumor:
Shares of SodaStream (NASDAQ: SODA) spiked higher in premarket trading on Tuesday, on a report from Israel’s TheMarker, that the company was in talks to sell itself to a British investment fund for $840 million, or $40 per share.
SodaStream declined comment on the report.
SodaStream closed Tuesday at $31.79, a gain of 1%.
Washington Prime Group to Purchase Glimcher Realty for $14.20/Share
The Deal:
Washington Prime Group (NYSE: WPG) and Glimcher Realty Trust (NYSE: GRT) announced Tuesday, that they have agreed that WPG will acquire Glimcher for $14.20 in cash and stock deal, for a total value of around $4.3 billion, including the assumption of debt. Glimcher shareholders will receive, for each Glimcher share, $10.40 in cash and 0.1989 of a share in WPG stock at closing.
The deal is expected to close in Q1 of 2015.
Glimcher Realty Trust closed Tuesday at $13.75, a gain of 30%.
Posted-In: News Hedge Funds Rumors Management M&A Movers General
