Wall Street Hubbub 8/17: PotashCorp. (POT) Offer Stirs Up A Frenzy In Ag Space, M&T Bank (MTB) Rises On Deal Talk

Speculators were out in force today with M&A action heating up. Below is a run-down of today's hot Wall Street scuttlebutt:

• PotashCorp. (NYSE: POT) rose 28 percent today to $143.70 after BHP (NYSE: BHP) launched a $130/share unsolicited takeover bid. POT rejected the offer, saying it seriously undervalues the company. Speculation now centers around how high BHP will go. Some are saying $150. Jim Cramer thinks the stock is worth $160-$170.
  
  
• With the PotashCorp. takeover offer, speculation centered around who would be next in the sector. Mosaic Co. (NYSE: MOS) rose 9 percent, Agrium Inc. (NYSE: AGU) rose 5 percent, Intrepid Potash, Inc. (NYSE: IPI) rose 7 percent, CF Industries Holdings, Inc. (NYSE: CF) rose 5 percent, Terra Nitrogen Company, L.P. (NYSE: TNH) rose 3 percent, China Green Agriculture, Inc. (NYSE: CGA) rose 6 percent, and Chemical & Mining Co. of Chile Inc. (NYSE: SQM) rose 8 percent.
  
  
• M&T Bank (NYSE: MTB) rose 5 percent today on reports in the Financial Times Spain's Santander (NYSE: SAN) has resumed talks recently to merge its U.S. operations with the Buffalo, New York-based regional bank.
  
  
• Stryker (NYSE: SYK) is near a $1.5 billion purchase of Boston Scientific's (NYSE: BSX) pain-management device unit. BSX rose 5.7 percent on the speculation.
  
  
• Alpha Natural Resources (NYSE: ANR), Barnes & Noble (NYSE: BKS), Electronics for Imaging, Inc. (Nasdaq: EFII), Hologic Inc. (Nasdaq: HOLX), Nanometrics Inc. (Nasdaq: NANO), and Sears Holdings (Nasdaq: SHLD) were all the subject of unsubstantiated takeover rumors today.
  
  
• All the Wall Street heavies have now released their 13Fs for the quarter ended June 30, 2010. You can track the notable filings here.
  

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