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.
