Benzinga's M&A Chatter for Tuesday December 6, 2011

It was a remarkably busy day for M&A chatter, even if you discount the General Electric GE for Cree CREE rumor that seems to resurface on a weekly basis. General Electric for Cree Rumor: General Electric GE to acquire Cree CREE in the mid-$30 per share range. Benzinga placed calls into both Cree and General Electric. A Cree spokesperson restated the company's policy not to comment on rumors. General Electric did not respond. Shares of Cree trade in a range of $25.00 to $26.02 on slightly more than average volume, and ended the day at $25.68, a gain of 3%. Seagate Technology for Quantum Corp Rumor: Seagate Technology STX to acquire Quantum Corp QTM for $4.25 per share in cash. Benzinga placed calls into both Seagate and Quantum. A Seagate spokesperson had no comment. Quantum did not return the call. Quantum shares spiked on the rumor, traded in a range of $2.65 to $2.79 on average volume, and closed at $2.73, a gain of less than 1%. Holcim for Vulcan Materials Rumor: Swiss cement manufacturer Holcim to acquire Vulcan Materials VMC for $60 per share. Both companies responded to Benzinga contact, but neither company would comment on the rumor. Vulcan shares spiked on the rumor from $32.72 at 9:54am to $35.10 at 10:21am. Shares traded in a range of $32.61 to $35.10 on a little more than twice the average daily volume, and closed at $33.90, a gain of 3%. Baker Hughes for Nabors Industries Rumor: Baker Hughes BHI to Acquire Nabors Industries NBR for $39.50 per share. Benzinga placed calls into both Baker Hughes and Nabors. Neither responded. Nabors shares traded in a range of $18.31 to $19.01 on slightly less than the average daily volume, closing at $18.69, a gain of 2%. Disney for Dreamworks Rumor: Disney DIS to acquire Dreamworks Animation DWA for $27.50 per share. Benzinga placed calls into both Disney and Dreamworks. A Dreamworks spokesperson had no comment on the rumor. Disney did not respond. Dreamworks shares spiked on the rumor, from $17.88 at around 9:54am to $18.65 at 10:03am, before pulling back to around $18.00. Shares traded in a range of $17.81 to $18.72 on 15% greater than average volume and closed at $17.99, a gain of less than 1%. Rio Tinto for Ivanhoe Mines Rumor: Rio Tinto RIO to acquire the remaining 51% of Ivanhoe Mines IVN it does not already own. Benzinga placed calls into both Ivanhoe Mines and Rio Tinto. An Ivanhoe spokesperson said Rio Tinto, which currently owns 49% of Ivanhoe, may only increase its ownership by purchasing the remaining 51%. No such deal has been discussed. Rio Tinto did not respond. Ivanhoe Mines shares traded in a range of $20.94 to $22.80 on 65% higher than average volume and closed at $22.53, a gain of 6%. Pfizer for Amarin Rumor: Amarin's AMRN move to office space within 3 miles of Pfizer's PFD R&D headquarters in Groton, CT, is a signal to some that Pfizer will purchase Amarin. There was no actual takeover rumor, just an article in HartfordBusiness.com that caused a late day pop in the price of Amarin. Amarin shares traded in a range of $7.37 to $7.67 and closed at $7.65, a gain of less than 2% on just under than half the average daily volume.