The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday June 23, 2014:
Wisconsin Energy to Acquire Integrys Energy for $9.1B Cash and Stock
The Deal:
Wisconsin Energy WEC and Integrys Energy TEG announced Monday that they have agreed that Wisconsin Energy will acquire Integrys in a deal valued at $9.1 billion. The combined company will be named WEC Energy Group, Inc, when the deal is completed, which is expected in Summer 2015. Integrys Energy closed Monday at $68.35, a gain of more than 12%, while Wisconsin Energy closed down 3.5% at $45.27. Oracle to Buy MICROS for $68/Share The Deal:
Oracle ORCL announced Monday that it has agreed to acquire MICROS Systems MCRS for $68.00 per share in cash, for a total value of approximately $5.3 billion, or $4.6 billion net of MICROS' cash. The deal, rumored last week in a report from Bloomberg, is expected to close in the second half of 2014, MICROS closed Monday at $67.98, a gain of more than 3%, while Oracle closed at $41.10, a gain of $0.28. Harbinger Group Offers to Acquire Central Garden & Pet Company for $10.00/Share in Cash The Offer:
Harbinger Group HRG announced Monday, a letter that it sent to the Board of Directors of Central Garden & Pet Company CENT on June 16, 2014, offering to acquire all of Central Garden & Pet Company for $10.00 per share in cash. HRG stated that it may further increase the value of its proposal if the CENT Board engages in a constructive dialogue and grants access to customary diligence materials. Harbinger says to date, Central Garden & Pet's Board and management have been unresponsive. Central Garden & Pet Company closed Monday at $9.58, a gain of 6.5%, while Harbinger gained 1% to close at $13.11. Report Monsanto Considered Deal for Syngenta The Rumor:
Shares of Monsanto MON and Syngenta SYT surged higher Monday, on a report from Bloomberg, that Monsanto had recently explored a potential acquisition of Syngenta, according to sources. A deal would have enabled Monsanto to move its tax location to Switzerland. The talks have been terminated, report the sources. Monsanto closed Monday at $122.10, a gain of $0.02. Syngenta closed at $79.59, a gain of 7%, on 11 times average volume. Abbott to Acquire Veropharm for $355M-$495M The Deal:
Abbott ABT announced Monday, it will acquire Russian pharmaceutical manufacturer, Veropharm. Abbott will acquire LLC Garden Hills, which owns a controlling interest in Veropharm, for between $395 million and $495 million. Garden Hills currently owns more than 80% of Veropharm, and is expected to own more than 95% by the time the deal closes. Abbott closed Monday at $40.73, a loss of $0.12. Fidelity National Financial's Comdata Attracting Buyout Interest The Rumor:
Shares Fidelity National Financial FNF spiked higher Monday, on a report from Dow Jones, that Comdata has attracted interest from potential buyers, following its IPO filing. Comdata is is owned by Fidelity National and Thomas H. Lee Partners. It reported in April, it had filed confidentially for an IPO. Comdata was separated from Ceridian in 2013. Fidelity National Financial closed Monday at $33.20, a gain of $0.31.
Wisconsin Energy WEC and Integrys Energy TEG announced Monday that they have agreed that Wisconsin Energy will acquire Integrys in a deal valued at $9.1 billion. The combined company will be named WEC Energy Group, Inc, when the deal is completed, which is expected in Summer 2015. Integrys Energy closed Monday at $68.35, a gain of more than 12%, while Wisconsin Energy closed down 3.5% at $45.27. Oracle to Buy MICROS for $68/Share The Deal:
Oracle ORCL announced Monday that it has agreed to acquire MICROS Systems MCRS for $68.00 per share in cash, for a total value of approximately $5.3 billion, or $4.6 billion net of MICROS' cash. The deal, rumored last week in a report from Bloomberg, is expected to close in the second half of 2014, MICROS closed Monday at $67.98, a gain of more than 3%, while Oracle closed at $41.10, a gain of $0.28. Harbinger Group Offers to Acquire Central Garden & Pet Company for $10.00/Share in Cash The Offer:
Harbinger Group HRG announced Monday, a letter that it sent to the Board of Directors of Central Garden & Pet Company CENT on June 16, 2014, offering to acquire all of Central Garden & Pet Company for $10.00 per share in cash. HRG stated that it may further increase the value of its proposal if the CENT Board engages in a constructive dialogue and grants access to customary diligence materials. Harbinger says to date, Central Garden & Pet's Board and management have been unresponsive. Central Garden & Pet Company closed Monday at $9.58, a gain of 6.5%, while Harbinger gained 1% to close at $13.11. Report Monsanto Considered Deal for Syngenta The Rumor:
Shares of Monsanto MON and Syngenta SYT surged higher Monday, on a report from Bloomberg, that Monsanto had recently explored a potential acquisition of Syngenta, according to sources. A deal would have enabled Monsanto to move its tax location to Switzerland. The talks have been terminated, report the sources. Monsanto closed Monday at $122.10, a gain of $0.02. Syngenta closed at $79.59, a gain of 7%, on 11 times average volume. Abbott to Acquire Veropharm for $355M-$495M The Deal:
Abbott ABT announced Monday, it will acquire Russian pharmaceutical manufacturer, Veropharm. Abbott will acquire LLC Garden Hills, which owns a controlling interest in Veropharm, for between $395 million and $495 million. Garden Hills currently owns more than 80% of Veropharm, and is expected to own more than 95% by the time the deal closes. Abbott closed Monday at $40.73, a loss of $0.12. Fidelity National Financial's Comdata Attracting Buyout Interest The Rumor:
Shares Fidelity National Financial FNF spiked higher Monday, on a report from Dow Jones, that Comdata has attracted interest from potential buyers, following its IPO filing. Comdata is is owned by Fidelity National and Thomas H. Lee Partners. It reported in April, it had filed confidentially for an IPO. Comdata was separated from Ceridian in 2013. Fidelity National Financial closed Monday at $33.20, a gain of $0.31.
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