Benzinga's M&A Chatter for Wednesday June 27, 2012
Submitted by charlesgross on Wed, 06/27/2012 - 19:23
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday June 27, 2012:
Harvest Natural Resources Not Seeking Sale of Entire Company
The Comments:
Shares of Harvest Natural Resources (NYSE: HNR) fell 2.7% Wednesday on comments the company was not seeking a buyer for its entire operation.
On June 21 Harvest announced that its wholly-owned subsidiary, HNR Energia B.V., had signed a definitive Share Purchase Agreement with the national oil company of Indonesia, to sell all of the Company's interests in Venezuela for $725.0 million in an all-cash transaction.
Little Bear Research's Zachary Prensky told Benzinga he had sold the remainder of his Harvest position on Tuesday and Wednesday.
Harvest Natural Resources closed at $8.71 Wednesday on 5 times the average daily volume.
Hearing Renewed Chatter of T-Mobile Interest in Sprint and MetroPCS
The Rumor:
Sprint (NYSE: S) and MetroPCS (NYSE: PCS) were the subject of renewed takeover chatter on Wednesday with T-Mobile (DTEGY) being mentioned as the rumored buyer, according to sources.
Later in the day, T-Mobile USA, said its CEO Philipp Humm had resigned.
A spokesperson for Sprint declined comment on the chatter, while representatives of MetroPCS and T-Mobile could not be reached for comment.
Sprint closed flat at $3.13 Wednesday on average volume. MetroPCS closed at $5.67, a gain of 1.43% on twice the average daily volume.
Hearing Chatter Germany's Linde Bidding for Lincare
The Rumor:
Germany's Linde Group could offer $40 per share for Lincare Hodlings (NASDAQ: LNCR), according to the Financial Times.
Call buying in Lincare has been aggressive over the past 2 weeks, especially the July 25 and August 27 contracts. 1,051 July 30 call contracts traded on Wednesday.
A spokesperson for Linde told Benzinga he was aware of the FT report, but had no comment. A Lincare spokesperson was not available.
Lincare Hodlings closed at $31.17 Wednesday, a gain of 23.40% on 25 times the average daily volume.
Hearing Continued Takeover Chatter in Glu Mobile
The Rumor:
Shares of Glu Mobile (NASDAQ: GLUU) continued their upward move for a second day, following Tuesday's chatter of a $7 per share offer from Microsoft (NASDAQ: MSFT). Several analysts had positive comments on a potential takeover of the mobile game company on Wednesday.
Glu Mobile closed at $5.36 Wednesday, a gain of 5.62% on 1.5 times the average daily volume.