Courtesy of Benzinga.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday April 10, 2013:
Report Deutsche Telekom to Improve Bid for MetroPCS
The Rumor:
Shareholders of Deutsche Telekom (OTC: DTEGY) would prefer the company to improve its offer for MetroPCS (NYSE: PCS), rather than see the deal defeated in a vote by MetroPCS shareholders scheduled for Friday. Four shareholders with a total 12% stake reported this to Reuters on Wednesday. Bloomberg reported that Deutsche Telekom will raise its bid for MetroPCS.
A MetroPCS spokesperson declined comment on the report. A Deutsche Telekom spokesperson was not available for comment.
MetroPCS closed at $11.56 Wednesday, a gain of 3% on 3.5 times average volume.
Telsey Advisory Says Nu Skin May Go Private
The Analyst Note:
Shares of Nu Skin Enterprises (NYSE: NUS) rose Wednesday, as Telsey Advisory said the company is evaluating strategic options, which include going private or a Dutch Tender.
A spokesperson for Nu Skin was not available for comment.
Nu Skin closed at $48.77 Wednesday, a gain of 4% on almost twice average volume.
Hearing Renewed Takeover Chatter in Seagate Technology
The Rumor:
Shares of Seagate Technology (NASDAQ: STX) rose Wednesday on renewed takeover chatter, according to sources. The company is rumored to have hired an adviser to handle potential offers.
A spokesperson for Seagate said the company’s Irish domicile requires that they disclose formal discussions and since they have not disclosed anything, the report is speculation.
Seagate Technology closed at $37.68 Wednesday, a gain of 2% on lower than average volume.
Report Gleacher in Talks with Sterne Agee
The Talks:
Gleacher & Company (NASDAQ: GLCH) announced Wednesday it is engaged in preliminary discussions with a third party regarding a potential business combination. Bloomberg later reported that Sterne Agee was the company in talks with Gleacher.
Gleacher also reported Wednesday, it will exit its MBS & Rates and Credit Products businesses effective immediately.
Gleacher closed at $0.71 Wednesday, a gain of 4.5% on 3.5 times average volume.
