Tekmira Pharma (NASDAQ:TKMR) +4.2% AH following a Daily Mail story suggesting it is a takeover candidate, after shares have nearly doubled in the past month thanks to attention over its experimental treatment for the deadly ebola virus.
Rumors suggest interested parties could include Shire (NASDAQ:SHPG) and GlaxoSmithKline (NYSE:GSK); the report suggests the recent premium paid for InterMune could put a valuation of at least $40/share on TKMR.
The deal value between the two Pennsylvania lenders is about $14.5M, and Phoenix (OTCQB:PXBP) owners will receive either 3.167 shares of Mid Penn (NASDAQ:MPB) stock or $51.60 in cash for each share of PXPB they own.
Oi (OIBR +9.6%) says it has hired i-bank BTG Pactual to help it explore options for buying Telecom Italia's (TI +4.3%) TIM Participacoes (TSU +6.2%) Brazilian mobile/wireline unit. Shares of all 3 companies are rallying, as are those of Portugal Telecom (PT +6%) and Telefonica's Brazilian unit (VIV +2.4%).
Given Oi's debt load (almost $20B) and potential antitrust concerns, many think a bid for TIM (would lower the number of Brazilian mobile carriers to 3) can only work if Oi partners with other carriers to acquire and break up TIM. America Movil (AMX +0.7%), which owns rival carrier Claro, is viewed as a potential partner.
Oi's disclosure comes as a bidding war between TI and Telefonica (TEF +0.8%) for Vivendi-owned (OTCPK:VIVHY) Brazilian wireline carrier GVT heats up. Reuters reports TI will make a €7B ($9.2B) bid for GVT that would give Vivendi a 15%-20% stake in TI; the WSJ reports Telefonica's board is meeting today to consider upping its €6.7B ($8.8B) GVT bid.
Royal Dutch Shell (RDS.A, RDS.B) is leading a consortium to sell several Nigerian oilfields for approximately $5B, as foreign companies reduce their onshore oil presence in the country due to theft, sabotage and local disruptions.
The four oilfields and a key pipeline are co-owned by Shell, France’s Total (NYSE:TOT) and Eni (NYSE:E) of Italy.
A deal is expected in the next few weeks after which all potential buyers will require government approval.
A 5B yaun ($813M) e-commerce joint venture between China's privately-held Dalian Wanda Group, Baidu (NASDAQ:BIDU) and Tencent Holdings (OTCPK:TCEHY, OTCPK:TCTZF) will be announced later this week, Reuters reports.
The new venture will unite three of China's most powerful non-state companies, and will be 70% owned by Wanda and 15% held by Baidu and Tencent respectively.
Wanda is a commercial property, luxury hotel and film conglomerate.
Allergan (AGN +0.4%) asks the U.S. District Court for the Central District of California for an expedited schedule for discovery and a preliminary injunction against Valeant Pharmaceuticals (VRX +1.4%) and Pershing Square Capital Management for violating insider trading laws. If successful, the pursuers will be blocked from counting their AGN shares in the total used to call the special meeting and they will fall short of the minimum 25% required to do so.
Allergan has established October 27, 2014 as the date of record for stockholders entitled to vote at the December 18, 2014 meeting. Its request to the Court would require the expedited discovery to be completed in October 2014 and would set a hearing on on the preliminary injunction motion before the special meeting.
Google (GOOG -0.5%) was unable to buy Twitch due to concerns about "potential antitrust issues" related to the acquisition, Forbes reports. Due to the antitrust issues (stemming from Google's ownership of YouTube), the companies reportedly couldn't agree on a breakup fee.
Meanwhile, Amazon (AMZN +2.4%) is rallying amid favorable reviews for the Twitch acquisition. Analyst Jan Dawson sees Twitch expanding Amazon's advertising scale and drawing in new customers, and thinks its streaming tech could strengthen other Amazon services. "Amazon is clearly taking digital media very seriously, and spending heavily to fund it."
The Verge's Ben Popper observes Twitch will get to make full use of AWS, and will now have Amazon's resources to help with licensing. VC Ethan Kurzweil (a Twitch investor) thinks non-gaming use cases are possible. "We think that Amazon is investing here in Internet infrastructure and something more than gaming media ... What Twitch has really built here is a video-based community around any activity."
Valmont Industries (NYSE:VMI) has acquired a majority interest in South Dakota-based AgSense, extending the company's offerings of agricultural remote monitoring and control technology.
"We are pleased to have entered this long-term partnership," says President Leonard Adams. "Growers increasingly seek to utilize data driven technology to increase yields and maximize water efficiency.'
Medtronic (NYSE:MDT) acquires privately-held Dutch firm Sapiens Steering Brain Stimulation for ~$200M in cash. The company is developing a deep brain stimulation system with 40 individual stimulation points. It its designed to allow more precise stimulation of the target while reducing the potential for side effects.
Medtronic will integrate Sapiens into its neuromodulation business.
In a surprise twist which lands Warren Buffett in the middle of the Burger King (NYSE:BKW)-Tim Hortons (NYSE:THI) deal, Berkshire Hathaway (BRK.A, BRK.B) is now expected to provide about 25% of the financing for the merger, WSJ reports.
The exact structure of Buffett's participation remains unclear, but sources say he will invest in the form of preferred shares.
Due to deal being structured as a tax-inversion, the new move also shoves the billionaire into a heated debate over U.S. taxes.