Wall Street's M&A Chatter From January 24

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, January 24, 2017.

Coke Said to be Interested in Kellogg Acquisition

The Rumor:

Shares of Kellogg Company K rose to a high of $72.87 on Tuesday, following renewed unconfirmed takeover chatter in the cereal maker. "Sources" say The Coca-Cola Co KO could acquire Kellogg in a $40 billion stock for stock deal.

Berkshire and 3G also are said to be interested in Kellogg once again. Back in November, 3G was mentioned as a potential suitor for Kellogg.

Kellogg closed Tuesday at $72.61, up $0.44.

Intrexon to Acquire GenVec for $7.00/Share in Stock

The Deal:

Intrexon Corp XON announced it has entered into a definitive agreement to acquire GenVec Inc. GNVC for $7.00 per share in Intrexon stock. Upon the closing of the transaction, GenVec stockholders will receive 0.297 of a share of Intrexon common stock in exchange for each share of GenVec common stock they own.

Closing is expected to occur in Q2 of 2017, following GenVec shareholder approval.

Genvec closed at $6.57 on Tuesday, up 44.71 percent.

Time Running Out to Complete Walgreen-Rite Aid Merger

The Merger Deadline:

Walgreens Boots Alliance Inc WBA CEO Stefano Pessina says he's not certain whether the deadline for his company’s purchase of Rite Aid Corporation RAD, with just three days to go before the deadline. In a Bloomberg interview, Pessina said extension of the deadline is the responsibility of the boards of the companies.

On Friday, Bloomberg reported that the proposal to sell 865 drugstores to Fred's, Inc. FRED was not satisfactory to FTC regulators. A Walgreen's spokesperson says the FTC has asked Fred's for additional information.

If the deal is not completed, then Walgreens would have to pay a $325 million breakup feed to Rite Aid.

Rite Aid closed at $6.95 on Tuesday, up $0.05.