Courtesy of Benzinga.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday November 18, 2014:
Report 3G May be Seeking Buyout of Coca-Cola
The Rumor:
Shares of The Coca-Cola Company (NYSE: KO) surged higher Tuesday on a report from Forbes, that Brazil’s 3G Capital may have an interest in taking the soft drink giant private. Mention of a potential bid by 3G for Coke, first surfaced back in June, when media reports said the private equity firm might team up with shareholder Warren Buffett on a bid.
Spokespersons for Coca-Cola and 3G did not respond to requests for comment.
Coca-Cola shares gained 1.5% Tuesday, to close at $43.53.
KKR, CD&R to Prepare Joint Proposal to Acquire Petsmart
The Rumor:
Private equity firms KKR and Clayton, Dubilier & Rice reportedly will bid to take PetSmart Inc (NYSE: PETM) private for more than $7.5 billion, according to sources reported by Reuters on Tuesday. The bid could come as early as December. Other firms considering a bid for PetSmart include Apollo Global Management and BC Partners, according to persons familiar with the matter.
A NY Post report, early Tuesday, also mentioned potential bids from those firms.
PetSmart closed Tuesday at $73.62, a gain of $0.1% and traded 2.5% higher after-hours on the buyout rumor and a strong earnings report and guidance.
Valeant May Pursue Teva Next, According to a Rumor
The Rumor:
Shares of Teva Pharmaceutical Industries Limited (TEVA) (NYSE: TEVA) rose Tuesday on unconfirmed market chatter of a potential bid by Valeant Pharmaceuticals International, Inc. (NYSE: VRX). The offer being mentioned is $68.00 per share.
Teva is being mentioned as a potential target for Valeant, since they lost the battle for Allergan Inc. (AGN) to Actavis
Spokesersons for Teva and Valeant were not available for comment.
Teva closed Tuesday at $57.23, a loss of $0.01.
