Merger Monday: 4 M&A Rumors Investors Are Focused On This Week

Peloton Interactive Inc PTON climbed more than 20% Monday with rumors of the fitness equipment manufacturer finding a potential suitor. The stock has recently been hit with a flurry of speculation, driving the price down 74% over the past six months, making it a prime buyout target.

Rumors are circulating about other tickers as well. Below is a list of four companies that have some buyout buzz, with price action for Monday at market close.

• NiSource Inc. NI On Feb. 3, shares were trading 0.5% higher to $29.86 amid a report of an investor pushing the company toward a deal to go private. The stock is currently trading at $28.79.
• Mantech International Corp MANT On Feb. 3, shares of Mantech spiked to session highs of $74.31 that continued into the next day due to a report that the co-founder is exploring a sale of his controlling stake. The stock is trading at $78.83, perhaps signaling investors are behind this move. 
• Griffon Corporation GFF On Feb. 2, Griffon shares spiked higher on volume as reports of the company’s sale of its Telephonics Unit advanced. The news was sold off into Friday’s session, before rebounding from lows of $20.70 to $22.14. 
• PayPal Holdings Inc PYPL On Feb. 3, investors circulated a rumor that the 35% year-to-date fall in the company’s shares following its earnings announcement could attract an insurgent investor with an M&A agenda. The stock closed at $121.41, down from its 52-week high of $310.16. 

Photo: Gerd Altmann from Pixabay