Courtesy of Benzinga.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday May 20, 2015:
Altice CEO Says Most US Cable Companies In-Play
The CEO Comments:
Shares of Time Warner Cable (NYSE: TWC) and Cablevision (NYSE: CVC) surged higher Wednesday, following comments from the CEO of France’s Altice, that all U.S. cable companies other than Comcast (NASDAQ: CMCSA) were in play. Dexter Goei was speaking following the announcement of Altice’s acquisition of SuddenLink.
Goeli did declined comment on a Reuters report Tuesday, that Time Warner Cable had been in takeover talks with Altice. Cablevision declined comment and a Time Warner Cable spokesperson was unavailable for comment.
Time Warner Cable shares rose more than 5% Wednesday, to close at $166.55. Cablevision shares rose 18% to close at $24.69.
Monsanto Confident Deal With Syngenta Can Get Done
The Potential Deal:
Monsanto (NYSE: MON) stated Wednesday, that it is confident in its ability to address regulatory concerns, as it contemplates a deal to acquire Syngenta (NYSE: SYT). Monsanto said this could be accomplished by selling Syngenta’s seeds and traits assets.
A Syngetna spokesperson said the regulatory obstacles are not as simple as portrayed by Monsanto. Syngenta rejected a CHF449 per share bid from Monsanto on May 8.
Syngenta shares gained more than 4% Wednesday, closing at $4.68
Partnerre Board Seeks To Engage Exor For Potential Transaction
The Letter:
Shares of PartnerRE (NYSE: PRE) spiked higher premarket Wednesday, as the company sent a letter to the Exor (OTC: EXOSF) Board saying it is prepared to engage with Exor to determine whether Exor’s offer can be improved so that it is compelling, on price and terms.
Axis Capital Holdings said on May 17 it wouldn’t raise its offer for PartnerRe, believing its proposal of $132 per share in stock, plus a special dividend of $11.50 per share, is superior to the $137.50 all-cash offer from Italy’s Exor
Spa (OTC: EXOSF), according to sources reported by Reuters.
PartnerRE closed Wednesday at $134.31, a gain of $0.14
CVS Said to be in Advanced Talks to Acquire Omnicare
The Rumor:
Following some unusual trading activity in shares of Omnicare Inc. (NYSE: OCR) near the close Wednesday, Bloomberg rerported that CVS Health Corp. was in advanced talks to acquire the provider of pharmacy and
related services, according to sources. An agreement could be reached as early as this week.
On April 30, Bloomberg reported Omnicare had received interest from Express Scripts Holding Co (NYSE: EXPR), Walgreens Boots Alliance Inc. (NASDAQ: WBA) and McKesson Corp. (NYSE: MCK), as wells as CVS.
Omnicare shares closed Wednesday at $94.63, and traded as high as $103, after-hours.
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