Wall Street's M&A Chatter From June 27: Bankrate, Sprint, Rite Aid-Walgreens, National Enquirer-Time

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, June 27, 2017.

Walgreens Said to be Skeptical about Rite Aid Deal Getting Regulatory Approval

The Rumor:

Shares of Rite Aid Corporation RAD pulled back Tuesday, following a New York Post report that sources close to Walgreens Boots Alliance Inc WBA are skeptical that the FTC will vote to approve the merger of the drug chains. The Post report contradicts a Monday CTFN report that the proposed merger will likely be approved by the Federal Trade Commission, with a vote expected this week.

One source commented "There is not much hope [of it being cleared]”, citing the fact that FTC Chair Maureen Ohlhausen is holding a meeting Thursday, as opposed to waiting till July 7, when the merger would pass without a vote.

Rite Aid closed at $3.74, down $0.31.

National Enquirer Owner Interested in Making Bid for Time

The Rumor:

The New Yorker is reporting in its July 3 edition that National Enquirer owner David Pecker is interested in acquiring Time Inc TIME. The potential deal is mentioned in an article entitled "The National Enquirer’s Fervor for Trump." Previous bids from a group led by Edgar Bronfman and from Meredith Corp MDP fell short of the $20.00 per share sought by Time, according to various media reports.

Time shares spiked as high as $14.51 and closed at $13.75, unchanged.

Betaville Reporting Bankrate Exploring a Sale

The Rumor:

Shares of BankRate Inc RATE spiked to a high of $12.95. The Betaville blog reported the provider of personal finance content is exploring a sale.

BankRate closed at $8.18, up $0.17.

Report of Potential Investment in Sprint from Comcast, Charter

The Rumor:

Sprint Corp S in exclusive talks with Charter Communications Inc. CHTR and Comcast Corporation CMCSA regarding a potential wireless partnership, according to sources as reported by the Wall Street Journal. The two-month, exclusive agreement puts merger talks with T-Mobile US Inc. TMUS on hold, the sources said.

A Sprint spokesperson told Benzinga, "We're not commenting one way or the other."

Sprint closed at $8.18, up $0.17.