Benzinga's M&A Chatter for Wednesday July 18, 2012
Submitted by charlesgross on Thu, 07/19/2012 - 07:20
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday July 18, 2012:
Hearing Renewed Takeover Chatter in Monster Worldwide
The Rumor:
Monster Worldwide (NYSE: MWW) is rumored to be meeting with potential private equity sources, according to dealReporter. LinkedIn (NYSE: LNKD) was previously rumored to be consider a takeover of Monster back in May.
Monster Worldwide closed at $7.61 Wednesday, a gain of 4.25% on higher than average volume.
PayPal Acquires card.io
The Deal:
Ebay's (NASDAQ: EBAY) PayPal has acquired card.io, a San Francisco-based company that provides technology for developers to capture credit card information by using the camera on a smartphone.
Terms of the deal were not disclosed.
Ebay closed at $40.46 Wednesday, a gain of 3.56% on higher than average volume. It traded at $42.57 after hours on better than expected earnings.
Olin Corporation Announces Acquisition of K. A. Steel Chemicals
The Deal:
Olin Corporation (NYSE: OLN) announced Wednesday that it has signed a definitive agreement to acquire privately held K. A. Steel Chemicals, on a cash free, debt free basis, for $328 million in cash, subject to certain post-closing adjustments. Olin expects to finance the acquisition using a combination of cash on hand and existing borrowing facilities.
Olin closed at $21.45 Wednesday, a gain of 0.47% on average volume.