Courtesy of Benzinga.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday December 31. Chen Guangbiao Says he is Meeting with New York Times Next Week
The Rumor:
Shares of The New York Times (NYSE: NYT) were volatile for a second day on Tuesday, following Monday’s chatter of a possible takeover deal being put together by Chinese businessman Chen Guangbiao. Chen told a Times reporter that he had set up a meeting with Times representatives next week in New York, though spokesperson Eileen Murphy, said there was no information about such a meeting.
On Monday, Murphy, in an email to Benzinga, reiterated comments by Chairman, Arthur Sulzberger, Jr that The New York Times is not for sale.
The New York Times closed Tuesday at $15.87, a loss of more than 1%.
Stryker to Acquire Patient Safety Technologies for $2.22/Share in Cash
The Deal:
Patient Safety Technologies (OTC: PSTX) announced Tuesday, an agreement to be acquired by Stryker Corporation (NYSE: SYK) for $2.22 per common share in cash, or $120 million. The deal is expected to close in Q1 2014.
Patient Safety Technologies closed Tuesday at $2.20, a gain of 48%.
