The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, October 3, 2017.
Takeover Chatter in Kroger
Shares of Kroger Co KR rose Tuesday as traders circulated chatter of a potential bid from Dutch retailer, Koninklijke Ahold Delhaize. “Sources” says Koninklijke has hired advisors to assist in a potential $32 per share bid for the grocer.
Kroger shares took a hit following the announcement of Amazon’s AMZN acquisition of Whole Foods in June, falling about 30 percent.
Kroger closed Tuesday at $20.56, up 60 cents.
Methode Electronics Acquires Pacific Insight Electronics for ~$114M
Methode Electronics Inc. MEI has completed the acquisition of global lighting, electronics and full-service solutions provider to the transportation industry, Pacific Insight Electronics Corp. for approximately $114 million. MEI expects pre-tax costs related to the acquisition in the range of $4.8 million to $5.2 million, of which $1.5 million was recognized in Q1.
Methode Electronics closed at $43.45, up 45 cents.
Ultragenyx to Acquire Dimension Therapeutics for $6/Share
Ultragenyx Pharmaceutical Inc. RARE and Dimension Therapeutics, Inc. DMTX have entered into a definitive merger agreement under which Ultragenyx will acquire all of the outstanding shares of common stock of Dimension for $6.00 per share in cash, for a total value of approximately $151 million, via a tender offer. The deal is expected to close before the end of 2017.
Dimension Therapeutics closed at $5.95, up 5 cents.
ILG Said to Receive Bid from Marriott Vacations
Shares of ILG Inc ILG spiked as high as $29.60 following a Bloomberg report of a potential offer from Marriott Vacations (NYSE:VAC). Sources say Marriott could approximately $30 per share for ILG.
In June, Reuters reported that ILG was working with Moelis to explore a merger.
ILG closed at $28.70, up $1.85.