Benzinga's M&A Chatter for Tuesday August 4, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday August 4, 2015:

Shire Proposes to Acquire Baxalta in $30B in All-Stock DealThe Offer

Shire plc

SHPG

confirmed Tuesday, that it made an offer to Baxalta Incorporated

BXLT

on July 10, 2015, proposing to combine the two companies in an all-stock deal valuing Baxalta at $45.23 per share. Under an agreement, Baxalta shareholders would receive, for each Baxalta share, 0.1687 Shire ADRs. Baxalta confirmed receipt of the proposal, saying it "significantly understates Baxalta's true value." The Baxlata Board concluded the proposal was "not a basis for further discussions." Shire closed at $253.60 on Tuesday, a drop of 5.5%. Baxalta gained almost 12%, closing at $37.10.

TeamHealth to Acquire IPC Healthcare for $1.6BThe Deal

TMH announced Tuesday, an agreement to acquire IPC Healthcare Inc. IPCM for $80.25 per share in cash, or $1.6 billion. The boards of directors of both companies have approved the transaction, which is expected to close during Q4 of 2015. IPC Healthcare closed at $79.25 Tuesday, a gain of 35%. Hearing Unconfirmed Market Chatter of Potential United Technologies Bid for Tyco The Rumor:
Shares of Tyco TYC spiked higher Tuesday, on unconfirmed market chatter of a potential bid from United Technologies UTX. The offer is reportedly $47 per share in cash and stock. Tyco declined comment on the rumor. United Technologies did not respond. Tyco closed at $38.27 Tuesday, a gain of $0.09. Hearing Unconfirmed Market Chatter of Potential United Technologies Bid for Tyco The Deal:
F.N.B. Corporation FNB and Metro Bancorp, Inc. METR announced Tuesday that F.N.B. will acquire Metro Bancorp, Inc., the holding company and parent of Metro Bank, in an all stock transaction valued at approximately $32.72 per share, or $474 million. The deal is expected to close in Q1 of 2016. Metro Bancorp closed at $29.98 Tuesday, a gain of 21%.

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