Benzinga's M&A Chatter for Wednesday August 1, 2012
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday August 1, 2012:
Herb Greenberg Suggests Amazon Could Buy Best Buy
CNBC's Herb Greenberg tweeted Wednesday that perhaps Amazon (NASDAQ: AMZN) could buy Best Buy (NYSE: BBY). Best Buy founder Richard Schulze has been rumored to be putting together a group to buy his former company.
A spokesperson for Amazon would not comment. A Best Buy spokesperson was not available.
Best Buy closed at $18.07 Wednesday, a loss of 0.11% on higher than average volume.
Hearing GlaxoSmithKline Could Pay $27/Share to Acquire Amarin
On July 12, Benzinga reported 3,850 January 2013 18/25 call spread contracts traded, while Amarin was at $14.64. Shares since have fallen to $11.53 on Wednesday.
Spokespersons for Amarin and GSK were not available for comment
Amarin closed at $11.53 Wednesday, a loss of 1.54% on higher than average volume.
Hearing Monster Worldwide Could Have a Deal By September
Monster Worldwide (NYSE: MWW) could have a deal in place by September, according to dealReporter. The company has been the subject of repeated takeover chatter lately with LinkedIn (NYSE: LNKD) and several private equity names mentioned.
A spokesperson for Monster Worldwide was not available for comment.
Monster Worldwide closed at $7.11 Wednesday, a loss of 1.93% on almost twice the average volume.
Digital Domain Media Group Pursues Strategic Alternatives
Digital Domain Media Group (NYSE: DDMG) clarified remarks Wednesday regarding shareholder value strategies made during its July 18, 2012, investor call. The company is formally announcing its plans to evaluate a broad range of strategic and financial alternatives to support the company's growth initiatives and its efforts to maximize shareholder value. DDMG will engage in discussions with various parties that have contacted the company on an unsolicited basis. The company will also work with its investment bankers and advisors to pursue strategies, and develop relationships, with segment-specific capital sources and strategic partners that have a desire to support the growth initiatives and maximize the shareholder value contribution of the company's specific business segments.
The company will evaluate a variety of alternatives including, but not limited to, a strategic minority investment in the company or in a specific business segment, joint ventures and/or business combinations with strategic partners and industry participants, the sale or spin-off of certain of the company's assets or operating subsidiaries into publicly traded or privately held corporations, the outright sale of certain of the company's assets or operating subsidiaries, or the outright sale of the company. DDMG also intends to be responsive to proposals received that seek to maximize the value of major operating subsidiaries through spin-offs into, or combinations with, publicly traded companies listed on major foreign exchanges that reflect the company's previously announced international expansion plans.
Digital Domain Media Group closed at $4.14 Wednesday, a loss of 2.36% on almost twice the average volume.
Hearing Renewed Takeover Chatter in WebMD
WebMD (NASDAQ: WBMD) was the subject of renewed takeover chatter late Wednesday, according to dealReporter. In January, the company announced it had ended the sale process. Carl Icahn called for a Dutch Auction of the shares in a filing on January 18, with a price of $30 per share at the high end.
WebMD closed at $15.10 Wednesday, a gain of 2.62% on on more than twice average volume.