Wall Street's M&A Chatter From April 3: Panera, Syneron Medical, Akzo Nobel, Cowen

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, April 3, 2017.

Apax Partners Acquires Syneron for $11.00/Share Cash

The Deal:

Syneron Medical Ltd. ELOS and Apax Partners confirmed weekend reports and announced a definitive agreement under which an affiliate of funds advised by Apax Partners will acquire all of the outstanding shares of Syneron Candela for $11.00 per share in cash in a transaction valued at approximately $397 million. The transaction is subject to customary closing conditions and has a "go-shop" period which ends on May 9, 2017.

Syneron Medical closed at $11.10, up $0.55.

Akzo Nobel CEO Says No Merit in Engaging in Talks With PPG

The CEO Comments:

Akzo Nobel AKZOY CEO Ton Buechner repeated that he is opposed to the March 20 takeover proposal from PPG Industries PPG and said he sees no merit in negotiating with PPG, according to a report from Reuters. PPG had offered $26.1 billion for Azo Nobel.

A major Akzo investor said he was pleased with the job Buechner has done, PPG's €90 per share offer was "at a level where the company's got to engage."

PPG closed at $105.08.

Cowen Group Acquires Convergex for $116M Cash, Cowen Common Stock

The Deal:

Cowen Group, Inc. COWN announced the signing of a definitive agreement under which Cowen will acquire Convergex Group, LLC from private equity firm GTCR, Bank of New York Mellon, and other shareholders, for a total consideration, less certain closing adjustments, of $116 million in cash and Cowen common stock. The transaction is expected to close by the end of Q2 2017.

Cowen Group closed at $14.30, down $0.65.

Panera Explores Sale

The Rumor:

Panera Bread Co. PNRA is considering strategic options including a potential, according to sources as reported by Bloomberg. The sources said Panera received takeover interest from interested parties including JAB, Starbucks SBUX and Domino's DPZ. A Domino's spokesperson told Benzinga there were no conversations regarding the purchase of Panera and the company was "committed to remaining a single-brand pizza company."

Panera is said to be working with advisers to study their options.

Panera closed at $282.63, up $20.76.