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Wall Street's M&A Chatter From February 10-12

Charles Gross

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, February 10, through Sunday, February 12, 2017.

Rite Aid, Walgreens Said to Work Toward New Divestiture Pact

The Rumor:

Walgreens Boots Alliance Inc (NASDAQ: WBA) and Fred's, Inc. (NASDAQ: FRED) are said to be moving towards an agreement on a new divestiture package that they expected to provide to the Federal Trade Commission in the next 30 to 40 days, according to MLex Market Insight.

Traders in February Rite Aid Corporation (NYSE: RAD) calls also are betting on the deal being approved in the near future. On January 30, Walgreens lowered its offer for Rite Aid from $9.00 to a maximum of $7.00 per share.

Rite Aid closed Friday at $5.61, up 2.37 percent.

Mead Johnson Nutrition to be Acquired by Reckitt Benckiser for $90/Share in Cash

The Deal:

Mead Johnson Nutrition Co (NYSE: MJN) announced it has agreed to be acquired by Reckitt Benckiser Group plc (OTC: RBGLY) for $90 per share in cash in a transaction valued at approximately $17.9 billion. The transaction is expected to close in Q3 of 2017.

Mead Johnson closed at $87.72 on Friday, up 5.62 percent.

Aon Sells HR Platform to Blackstone for $4.3B Cash and up to $500M on Performance

The Deal:

Aon plc (NYSE: AON) announced it has agreed to sell its benefits administration and HR BPO platform to Blackstone Group LP (NYSE: BX) for $4.3 billion in cash at closing and additional consideration of up to $500 million based on future performance. The transaction is expected to close by the end of Q2 of 2017.

Aon closed at $115.59 on Friday, up $0.42.

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