The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday November 28, 2016.
Time Rejects Takeover Bid from Edgar Bronfman Jr
Edgar Bronfman Jr. recently made an offer to acquire People publisher Time Inc
Later, Bloomberg reported that Bronfman Jr. and Ynon Kreiz offered $18 to $20 per share in cash in a letter dated October 20. That proposal was rejected by Time's Board, according to sources.
Spokespersons for the parties, including investor Jana Partners, who reported a 5 million share steak in Time, declined comment.
Time closed at $16.00 on Monday, up 17.65 percent.
CRN Reporting Microsoft Will Pursue a Takeover of Box
Shares of Box Inc
Box closed at $15.49 on Monday, up almost 1 percent.
Report of Potential Roche Interest in Vertex
Vertex replied to Benzinga, "We do not comment on market rumors or speculation. Vertex's Board of Directors and management are focused on continuing to create significant value for our shareholders by executing our long-term strategy of delivering transformative medicines for people with serious diseases."
Vertex closed Monday at $86.90, down 1 percent.
Allstate Acquires SquareTrade for $1.4B
The Allstate Corp
The transaction is expected to close in January 2017.
Allstate closed Monday at $72.04 and traded at $71.50 after-hours.
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