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Wall Street’s M&A Chatter From July 11: Rent-A-Center, Logitech-ASTRO Gaming, Whole Foods-Costco

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, July 11, 2017.

Chatter of Potential Costco bid for Whole Foods

The Rumor:

Shares of Whole Foods Market, Inc. (NASDAQ: WFM) spiked as high as $42.28 Tuesday as traders circulated unconfirmed market chatter of potential bid from Costco (NASDAQ: COST). “Sources” said Costco could bid as high as $15 billion for the grocery chain.

Amazon.com, Inc. (NASDAQ: AMZN) announced on June 16 it agreed to buy Whole Foods for $13.7 billion, $42.00 per share.

Whole Foods closed at $41.94 on Tuesday, up 9 cents.

Rent-A-Center Confirms Go-Private Offer from Vintage Capital Management

The Offer Confirmation:

Rent-A-Center Inc (NASDAQ: RCII) confirmed is has received an offer via a letter from Vintage Capital for $15.00 per share. The letter was later presented to the Board of Directors for review.

Rent-A-Center said, after review by its Board and advisors, on July 5, 2017, it rejected the offer as “inadequate and opportunistic.” Shareholder Engaged Capital said in a letter “we have and continue to believe that the Board should be fully exploring all strategic options to maximize shareholder value.”

Rent-A-Center shares closed at $12.09, up 99 cents.

Logitech Acquires ASTRO Gaming for $85M in Cash

The Deal:

Logitech International SA (USA) (NASDAQ: LOGI) has agreed to acquire the producer of headsets for professional gamers, ASTRO Gaming for $85 million in cash. The transaction is expected to close in early August.

Logitech closed at $37.70, up 24 cents.

Posted-In: News Rumors M&A


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