M&A Monday: Jarden Corp, United Technologies Corporation, and More

A number of companies are in the M&A crosshairs, including Jarden Corp (NYSE:JAH) and United Technologies Corporation (NYSE:UTX)

by Alex Eppstein

Published on Jul 13, 2015 at 12:08 PM
Updated on Jun 24, 2020 at 10:16 AM

M&A Monday is in full swing, and we've already touched on some of this morning's headlines. However, a number of other companies are in the crosshairs amid the latest round of news and rumors, including Jarden Corp (NYSE:JAH), United Technologies Corporation (NYSE:UTX), Platform Specialty Products Corp (NYSE:PAH), BorgWarner Inc. (NYSE:BWA), Marvell Technology Group Ltd. (NASDAQ:MRVL), and Depomed Inc (NASDAQ:DEPO).

JAH has soared 4.6% at $54.72, and is fresh off an all-time peak of $55.75, after the consumer products company agreed to purchase Waddington Group for nearly $1.4 billion. Jarden Corp founder Martin Franklin cited Waddington's "strong cultural fit" and "compelling financial and strategic value proposition" as reasons for the acquisition. Meanwhile, the stock's sharp spike has vindicated analysts, 92% of which consider the shares a "strong buy."

Meanwhile, tech blue chip UTX has advanced 0.8% to flirt with $111.14, while Lockheed Martin Corporation (NYSE:LMT) has jumped 1.9% to trade at $197.88. The intraday gains are being fueled by reports that LMT is the leading candidate to buy United Technologies Corporation's Sikorsky helicopter business, potentially for upwards of $8 billion.

Moving along, chemical maker PAH is up on news it will purchase U.K.-based rival Alent for roughly $2.1 billion, allowing the former to expand its portfolio and reduce costs. At last check, Platform Specialty Products Corp was 2.2% higher at $25.68. Also gaining is BWA -- currently up 1% at $54.13 -- after the auotomotive systems specialist agreed to buyout terms with privately held Remy International Inc., for just under $1 billion.

If that's not enough, unconfirmed M&A chatter is swirling around MRVL, boosting the shares 3.9% to trade at $13. This is bad news for recent short sellers -- in fact, short interest on Marvell Technology Group Ltd. soared nearly 35% during the latest reporting period. Finally, in the pharmaceutical sector, DEPO has tacked on 0.3% to trade at $30.24 -- and hit a record high of $30.45 -- after the firm adopted measures to protect itself from Horizon Pharma PLC's (NASDAQ:HZNP) hostile takeover bid.

A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

Access your FREE insider report before it's too late!


  
 
 

Partnercenter