Benzinga's M&A Chatter for Wednesday July 13, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday July 13, 2016:

Level 3 Considering Strategic Alternatives

The Rumor:
Benzinga reported Wednesday that Level 3 Communications, Inc. LVLT is reviewing strategic alternatives. These may include a sale of the company or a large buyback. An industry source told Benzinga that Comcast Corporation CMCSA is a potential buyer for Level 3.

Citigroup analyst Michael Rollins, responding to the Benzinga report, said he would "not dismiss the possibility" of Level 3 and Zayo Group Holdings Inc ZAYO considering a merger. Wells Fargo's senior analyst Jennifer Fritzche, in a note to clients, said she suggested Level 3 Communications will pursue strategic M&A options on numerous occasions.

Level 3 Communications closed at $56.30 on Wednesday, up 3.53%.

Imprivata to be Acquired by Thoma Bravo for $19.25/Share in Cash

The Deal:
Imprivata IMPR announced Wednesday, that it has entered into a definitive agreement to be acquired by an affiliate of Thoma Bravo, LLC, for $19.25 per share in cash. The transaction is valued at approximately $544 million.

Imprivata closed at $19.01 on Wednesday, up 31.1%.

Monsanto Said to Renew Talks With BASF

The Rumor:
Monsanto Co. MON has restarted talks with BASF BASFY regarding a potential combination of their agrochemicals businesses, according to sources as reported by Bloomberg on Wednesday. Talks with Bayer BAYRY, whose $122 per share offer was rejected, are said to be continuing. Spokespersons for Monsanto and BASF declined comment.

Monsanto closed Wednesday at $101.13 and traded as high as $110.24 after-hours.

Cypress Rejects $14/Share Offer

The Rumor:
Shares of Cypress Semiconductor CY spiked higher after-hours Wednesday, as Betaville reported that the company had rejected an offer of $14.00 per share from Summitview Capital, according to sources. Cypress is said to be looking for $15.00 per share is working with Goldman Sachs on exploring strategic options, the sources said.

Cypress Semiconductor closed Wednesday at $10.89 and traded as high as $11.69 after-hours.