Benzinga's M&A Chatter for Tuesday February 9, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday February 9, 2016:

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Algonquin Power & Utilities Corp.

and The Empire District Electric Company

announced Tuesday, that a subsidiary of Liberty Utilities Co. has entered into an agreement and plan of merger, under which Liberty Utilities will indirectly acquire Empire and its subsidiaries for $34.00 per common share and a total purchase price of $2.4 billion. The deal is expected to close in Q1 of 2017. Empire District Electric closed at $28.2o on Tuesday, and traded as high as $32.01 after-hours.

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Shares of Gogo

rose Tuesday on unconfirmed market chatter of a potential bid from Verizon

. "Sources" say the offer could be $18 per share. A spokesperson for Verizon declined comment, while Gogo did not respond to a request for comment. Gogo closed at $13.04 on Tuesday, up 5%.

:

Canadian Pacific

announced Tuesday, that it has notified Norfolk Southern Corp.

of its intention to submit a resolution to shareholders to ask their Board to engage in good faith discussions regarding a potential business combination. Canadian Pacific said Norfolk Southern shareholders want the talks to take place. The shareholder resolution will be voted on at Norfolk Southern's annual meeting. Canadian Pacific closed at $124.10 on Tuesday, up 1.85%. Norfolk Southern rose 1.32% to close at $71.42.