Benzinga's M&A Chatter for Monday, October 10, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, October 10, 2016:

Report Potential Top Bidders for Twitter Drop Out; Salesforce May Still Bid

The Rumor:
Shares of Twitter TWTR rose Monday, on following a report that Salesforce CRM, Google GOOGL and Disney DIS have all dropped out of the bid process, according to sources as reported by Bloomberg on Saturday. Twitter shares fell below $17 for the first time since early August. CNBC's David Faber reported that there may be other parties interested in the social media company. Reuters and the NY Times later reported that Salesforce was not out of the running.

Twitter closed at $17.56 on Monday, down 11.54%.

First Reserve to Acquire All Outstanding Shares of Gas Natural Common Stock for $13.10/Share

The Deal:
Gas Natural Inc. EGAS announced the signing of a definitive merger agreement Monday, with an energy infrastructure investment fund sponsored by First Reserve. Under the terms of the agreement, First Reserve will acquire all of the outstanding shares of Gas Natural common stock for $13.10 per share, for a total enterprise value of about $196 million. The purchase price represents an approximate premium of 39% over Gas Natural's 52-week high. The transaction is expected to be completed in H2 of 2017.

Gas Natural closed at 12.65 on Monday, up 64.71%.

L-3 to Acquire Assets of Implant Sciences for $117.5M

The Deal:
L-3 Communications LLL announced Monday, that it has entered into an asset purchase agreement to acquire certain assets of Implant Sciences, which recently entered Chapter 11 Bankruptcy, for $117.5 million in cash, plus assumption of specified liabilities. The sale is subject to approval by the U.S. Bankruptcy Court.

L-3 closed at $151.05 on Monday, down $0.55.