Benzinga's Weekend M&A Chatter

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday September 9 through Sunday September 11, 2016:

Gabelli Said to be Seeking $13/Share vs $9.25 Offered by Carl Icahn for Federal Mogul

The Rumor:
Investor Mario Gabelli, owner of 36% of the stake not owned by Carl Icahn, is possibly seeking $13.00 per share versus the $9.25 per share deal announced on September 6, according to a report from the NY Post on Friday. Gabelli analyst Brian Sponheimer said the $9.25 offer does not fully reflect the long-term profit outlook for Federal Mogul and believes the shares are "fundamentally undervalued."

Federal Mogul closed Friday at $9.36, up 1.63%.

GW Pharma Shares Pullback as Company Says Morgan Stanley has been Advisor for Many Years

The Company Comments:
Shares of GW Pharma GWPH pulled back Friday, as the UK Daily Mail reported that the company had been working with Morgan Stanley as their advisor for many years. The comments were in response to a Reuters report on Thursday, which indicated that MS had been hired to handle takeover approaches.

GW Pharma closed at $99.84 on Friday, down 4.71%.

Bayer, Monsanto Deal Could be Announced this Week

The Rumor:
Shares of Monsanto MON popped early on Friday, as CNBC's David Faber reported that a deal to be acquired by Bayer BAYRY could be announced late this week, according to sources. The purchase price for Monsanto is expected to be in high $120s per share, the sources said. Monsanto confirmed on September 5 that it was engaged in constructive negotiations with Bayer and that it had received an updated non-binding proposal for $127.50 per share in cash.

Monsanto closed at $106.78 on Friday, down 1.18%.