Benzinga's M&A Chatter for Wednesday June 13, 2012
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday June 13, 2012:
Talbots and Sycamore Partners Agree to Extend Date for Commencement of Tender Offer
Talbots (NYSE: TLB) announced Wednesday that the Company and Sycamore Partners agreed to extend the date by which Sycamore Partners is obligated to commence the tender offer for all of the outstanding shares of Talbots common stock pursuant to the previously announced merger agreement from Wednesday, June 13, 2012 to Friday, June 15, 2012.
Talbots closed at $2.42 Wednesday, a loss of 1.22% on average volume.
FMC Corporation Acquires Phytone
FMC Corporation (NYSE: FMC) announced Wednesday the acquisition of Phytone Ltd., a leading natural colors producer based in the United Kingdom. Phytone's natural products and formulations are used by global customers in the food, beverage, personal care and nutrition sectors.
"This acquisition underscores our commitment to grow FMC's new natural colors portfolio, and represents another important step in our Vision 2015 growth strategy," said Pierre Brondeau, president, CEO and chairman, FMC Corporation. "We expect the high-growth, natural colors market to reach well over $1 billion by 2015. The addition of Phytone's unique color technology, coupled with our acquisition last year of Chilean-based South Pole Biogroup, greatly strengthens our position in this exciting market."
FMC Corporation closed at $50.49 Wednesday, a loss of 2.09% on average volume.
Ramtron Confirms Receipt of Unsolicited Proposal from Cypress Semiconductor
Ramtron International Corporation (NASDAQ: RMTR) confirms that it received an unsolicited proposal from Cypress Semiconductor Corporation (NYSE: CY) on June 12 to acquire all outstanding stock of Ramtron at a price of $2.48 per share in cash.
Consistent with its fiduciary duties, Ramtron's Board of Directors will review and consider the proposal, in consultation with its financial and legal advisors, and determine the course of action that it believes is in the best interests of Ramtron and its stockholders.
Ramtron stockholders are advised to take no action at this time pending the review of the proposal by Ramtron's Board of Directors.
Ramtron International closed at $2.41 on Wednesday, a loss of 0.41% on almost 5 times the average daily volume.
Hearing Renewed Takeover Chatter in Walter Energy
Walter Energy was the subject of takeover chatter once again on Wednesday. Walter is a frequent subject of rumors, most recently involving BHP Billiton (NYSE: BHP) on May 3.
A spokesperson for Walter Energy was not available for comment.
Walter Energy closed at $45.44 on Wednesday, a gain of 0.11% on average volume.
Hearing Chatter of Sanofi Bid for Dendreon
A spokesperson for Dendreon declined comment on the rumored offer.
Dendreon closed at $7.11 on Wednesday, a gain of 13.76% on 4 times the average volume.