The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday March 20 through Sunday March 22, 2015:
Simon Property Group Submits 'Best, Final' Offer to Acquire Macerich for $95.50/Share in Cash, Stock
The Offer:
Simon Property Group, Inc. SPG announced Friday, that it has sent a letter to The Macerich Company MAC presenting its best and final offer to acquire all the outstanding shares of Macerich for $95.50 per share, 50% in cash and 50% in Simon stock. Simon's previous offer was $91.00 per share in cash and stock. Macerich confirmed receipt of the proposal from Simon and announced it Board of Directors will review the offer. Macerich shares closed at $89.21 Friday, a loss of $4.29. Simon shares rose $5.24, closing at $197.34. Hearing Detwiler Says Cablevision May be Target of Charter Communications The Rumor:
Shares of Cablevision Systems Corporation CVC rose Friday, on a note from Detwiler, that the Long Island-based company, led by Jim Dolan, could be a takeover target for Charter Communications, Inc. CHTR. Spokespersons for Cablevison and Charter Communications were not available for comment. Cablevision shares gained $0.59 Friday, closing at $18.68. Viggle Receives $10M Bid from Founder, CEO for 25% Interest in Company's Wetpaint Business The Offer:
Viggle VGGL confirmed Friday, that it received an offer from founder, executive chairman and CEO Robert F.X. Sillerman, for the acquisition of a 25% stake in the company's Wetpaint business for $10 million in cash. Sillerman's proposal provides for him to receive an option to acquire the remaining 75% of the Wetpaint business for $40 million within 24 months, consisting of a minimum of $20 million in cash and the remainder through the issuance of a 5-year note bearing 6% interest per annum. Viggle's Board of Directors expects to form a Special Committee of independent directors to evaluate Sillerman's proposal. Viggle shares gained 13% Friday, closing at $1.64. Tenet Healthcare Reportedly Near $2.5B Deal to Acquire United Surgical Partners The Rumor:
Tenet Healthcare Corp. THC is said to be nearing a deal to acquire United Surgical Partners, in a deal that could be worth more than $2.5 billion, according to the Wall Street Journal. Sources say the deal could be announced as soon as Monday. Tenet Healthcare shares lost 15% Friday, closing at $49.62.
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Shares of Cablevision Systems Corporation CVC rose Friday, on a note from Detwiler, that the Long Island-based company, led by Jim Dolan, could be a takeover target for Charter Communications, Inc. CHTR. Spokespersons for Cablevison and Charter Communications were not available for comment. Cablevision shares gained $0.59 Friday, closing at $18.68. Viggle Receives $10M Bid from Founder, CEO for 25% Interest in Company's Wetpaint Business The Offer:
Viggle VGGL confirmed Friday, that it received an offer from founder, executive chairman and CEO Robert F.X. Sillerman, for the acquisition of a 25% stake in the company's Wetpaint business for $10 million in cash. Sillerman's proposal provides for him to receive an option to acquire the remaining 75% of the Wetpaint business for $40 million within 24 months, consisting of a minimum of $20 million in cash and the remainder through the issuance of a 5-year note bearing 6% interest per annum. Viggle's Board of Directors expects to form a Special Committee of independent directors to evaluate Sillerman's proposal. Viggle shares gained 13% Friday, closing at $1.64. Tenet Healthcare Reportedly Near $2.5B Deal to Acquire United Surgical Partners The Rumor:
Tenet Healthcare Corp. THC is said to be nearing a deal to acquire United Surgical Partners, in a deal that could be worth more than $2.5 billion, according to the Wall Street Journal. Sources say the deal could be announced as soon as Monday. Tenet Healthcare shares lost 15% Friday, closing at $49.62.
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