Benzinga's M&A Chatter for Wednesday May 30, 2012
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday May 30, 2012:
Pep Boys Announces Termination of Merger with The Gores Group
Pep Boys (NYSE: PBY) announced late on Tuesday that it has agreed to terminate the proposed merger between Pep Boys and The Gores Group.
As settlement for any and all potential claims that Pep Boys could assert under the terms of the merger agreement, previously announced on January 30, 2012, The Gores Group has agreed to pay Pep Boys a fee of $50 million and to reimburse Pep Boys for certain merger-related expenses. The special meeting of Pep Boys' shareholders, which was scheduled to be held on May 30, 2012, has been canceled.
Pep Boys closed at $8.89 on Wednesday, a loss of 19.84% on 11 times the average daily volume.
Report Apple Buying Redmatica
Redmatica is a startup specializing in music recording software.
Apple closed at $579.17 Wednesday, a gain of 1.21% on lower than average volume.
Hearing Pfizer, Takeda Drop Out of Bid for Amylin
Pfizer (NYSE: PFE) and Takeda have dropped out of the bidding for Amylin Pharmaceuticals (NASDAQ: AMLN), according to dealReporter. Last week Merck (NYSE: MRK) and Sanofi (NYSE: SNY) were reported to be offering a minimum of $25.00 per share for Amylin.
A spokesperson for Amylin was not available for comment.
Amylin Pharmaceuticals closed at $27.44 on Wednesday, a loss of 2.73% on slightly more than the average daily volume.
Facebook Could Buy Nokia
Facebook (NASDAQ: FB) could acquire Nokia (NYSE: NOK), according to comments from Paul Amsellem in ComputerWorld. Amsellem, managing director of Mobile Network Group, says Facebook will buy Nokia to create FacePhone in the next 18 months.
Spokespersons for Facebook and Nokia were not available for comment.
Nokia closed at $2.74 on Wednesday, a loss of 7.12% on lower than average volume.