The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday December 21, 2015:
Benzinga Reports Potential SinoPec Bid for Anadarko Petroleum
The Rumor:
China Petroleum & Chemical Corp SNP, or SinoPec, is considering a bid for Anadarko Petroleum Corporation APC, according to a source familiar with the matter, as reported by Benzinga on Monday. HSBC will be financing the deal, the source said. China Petroleum and Anadarko did not immediately respond to requests for comment. Anadarko shares traded as high as $47.72 Monday, following the report and closed at $46.55, a gain of 1.9%. Pep Boys Board Has Determined Latest Bid from Carl Icahn's Icahn Enterprises 'Superior' to Bridgestone Deal The Offer:
Pep Boys PBY announced Monday, that on December 20, 2015, its Board of Directors determined that a proposal, received on December 18 from Icahn Enterprises L.P. IEP to acquire Pep Boys for $16.50 per share in cash, constitutes a "superior proposal" as defined in the company's agreement and plan of merger with Bridgestone Retail Operations, LLC. Pep Boys announced their intention to terminate the Bridgestone agreement, following a three business day period that will expire at 5:00 PM New York City time on Wednesday, December 23, 2015. The agreement with Bridgestone was for $15.50 per share in cash. Pep Boys rose 6.92% Monday, closing at $16.85. Amgen Acquires Catherex for Upfront Payment of $10.5M The Deal:
Medigene AG MDGEF announced Today, that Amgen Inc. AMGN will acquire 100% of Medigene spinoff Catherex, Inc., USA, for an upfront payment of $10.5 million. Medigene will also be entitled to milestone payments upon achievement of certain regulatory and sales-based milestones for Amgen's drug Imlygic plus royalty payments on the sale of Imlygic until the end of 2020. The deal is expected to close in early 2016. Amgen closed at $159.28 on Monday, a gain of $0.48. Lumber Liquidators Could be PE Target The Rumor:
Shares of Lumber Liquidators Holdings Inc LL spiked higher Monday following a tweet from Charles Gasparino of FOX Business Network. Gasparino tweeted that the company's investors could be pushing for a sale to private equity. Whitney Tilson announced Lumber Liquidators as a short idea at the Robin Hood Conference on November 22, 2013. Shares fell that day from a high of $115.95, to a low of $11.62 on August 6, 2015. A "60 Minutes" segment in February of this year, mentioning that the company's Chinese laminate flooring had unsafe levels of formaldehyde, sent shares plummeting further. Tilson announced on December 15, 2015 that he had covered his short position in the stock. Lumber Liquidators closed at $16.22 on Monday, a loss of 2.76%. Northern Tier, Western Refining Announce Definitive Merger Agreement The Deal:
Western Refining, Inc. WNR and Northern Tier Energy LP NTI announced Monday, that thaey have agreed that Western will acquire all of NTI's outstanding common units not already owned by Western for $15.00 in cash and 0.2986 of a share of WNR common stock for each NTI common unit held. The deal is expected to close in H1 of 2016. Northern Tier Energy closed at $24.28 on Monday and traded as high as $26.50 after-hours.
Market News and Data brought to you by Benzinga APIsChina Petroleum & Chemical Corp SNP, or SinoPec, is considering a bid for Anadarko Petroleum Corporation APC, according to a source familiar with the matter, as reported by Benzinga on Monday. HSBC will be financing the deal, the source said. China Petroleum and Anadarko did not immediately respond to requests for comment. Anadarko shares traded as high as $47.72 Monday, following the report and closed at $46.55, a gain of 1.9%. Pep Boys Board Has Determined Latest Bid from Carl Icahn's Icahn Enterprises 'Superior' to Bridgestone Deal The Offer:
Pep Boys PBY announced Monday, that on December 20, 2015, its Board of Directors determined that a proposal, received on December 18 from Icahn Enterprises L.P. IEP to acquire Pep Boys for $16.50 per share in cash, constitutes a "superior proposal" as defined in the company's agreement and plan of merger with Bridgestone Retail Operations, LLC. Pep Boys announced their intention to terminate the Bridgestone agreement, following a three business day period that will expire at 5:00 PM New York City time on Wednesday, December 23, 2015. The agreement with Bridgestone was for $15.50 per share in cash. Pep Boys rose 6.92% Monday, closing at $16.85. Amgen Acquires Catherex for Upfront Payment of $10.5M The Deal:
Medigene AG MDGEF announced Today, that Amgen Inc. AMGN will acquire 100% of Medigene spinoff Catherex, Inc., USA, for an upfront payment of $10.5 million. Medigene will also be entitled to milestone payments upon achievement of certain regulatory and sales-based milestones for Amgen's drug Imlygic plus royalty payments on the sale of Imlygic until the end of 2020. The deal is expected to close in early 2016. Amgen closed at $159.28 on Monday, a gain of $0.48. Lumber Liquidators Could be PE Target The Rumor:
Shares of Lumber Liquidators Holdings Inc LL spiked higher Monday following a tweet from Charles Gasparino of FOX Business Network. Gasparino tweeted that the company's investors could be pushing for a sale to private equity. Whitney Tilson announced Lumber Liquidators as a short idea at the Robin Hood Conference on November 22, 2013. Shares fell that day from a high of $115.95, to a low of $11.62 on August 6, 2015. A "60 Minutes" segment in February of this year, mentioning that the company's Chinese laminate flooring had unsafe levels of formaldehyde, sent shares plummeting further. Tilson announced on December 15, 2015 that he had covered his short position in the stock. Lumber Liquidators closed at $16.22 on Monday, a loss of 2.76%. Northern Tier, Western Refining Announce Definitive Merger Agreement The Deal:
Western Refining, Inc. WNR and Northern Tier Energy LP NTI announced Monday, that thaey have agreed that Western will acquire all of NTI's outstanding common units not already owned by Western for $15.00 in cash and 0.2986 of a share of WNR common stock for each NTI common unit held. The deal is expected to close in H1 of 2016. Northern Tier Energy closed at $24.28 on Monday and traded as high as $26.50 after-hours.
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