Benzinga's M&A Chatter for Wednesday July 1, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday July 1, 2015:

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ACE Limited

and The Chubb Corporation

announced Wednesday, that the Boards of Directors of both companies have unanimously approved the acquisition by ACE of Chubb for $62.93 per share in cash and 0.6019 shares of ACE stock. The total value of the deal is $28.3 billion, or $124.13 per share, based on the closing price of ACE shares on June 30, 2015. ACE shareholders will own 70% of the combined company, and Chubb shareholders will own 30%. The transaction is expected to close during the first quarter of 2016, Chubb shares rose 26% Wednesday, closing at $119.99. Ace shares rose $0.81 to close at $102.49.

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Shares of Anadarko Petroleum

rose briefly Wednesday, on renewed unconfirmed chatter of a potential bid from Exxon Mobil

. The rumored offer is up to $90.00 per share, according to sources. Exxon Mobil declined comment on the rumor. Anadarko Petroleum did not respond to a request for comment. Anadarko shares fell $0.88 Wednesday, closing at $77.18.

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CNinsure Inc.

announced Wednesday that Shaanxi J&R Firefighting Inc. has entered into a share purchase agreement with Kingsford Resources Limited to acquire a 5.5% stake in CNinsure. J&R will purchase from Kingsford 63,320,000 ordinary shares of CNinsure, which is equal to 3,166,000 of CNinsure's ADSs, for a total purchase price of approximately $37.4 million in cash. The deal is expected to close within 60 days. CNinsure shares lost $0.04 Wednesday, closing at $8.79.

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PayPal, Inc.

and digital money transfer provider Xoom Corporation

, announced Wednesday, a definitive agreement under which PayPal will acquire Xoom for $25 per share in cash, for an enterprise value of approximately $890 million. The deal is expected to close in Q4 of 2015. Xoom shares closed Wednesday at $20.70 and traded up 25% after-hours.