Wall Street Hubbub 9/2: Rumor Mill In Overdrive On M&A Frenzy

With a private equity takeover Burger King (NYSE: BKC) at a hefty premium, and the 3Par (NYSE: PAR) bidding war finally coming to an end with a higher $33 takeover from HP (NYSE: HPQ), the rumor mill is in high gear today. Here are some top items we're hearing today:

• ArcSight, Inc. (Nasdaq: ARST) is scheduled to report earning today and according to earlier reports the company is holding an "all-hands" meeting with staff today at its Cupertino, California HQ. On August 26th, the Wall Street Journal reported Oracle Corp. (NASDAQ: ORCL) and Hewlett-Packard Co. (NYSE: HPQ) could be interested in buying the company for $1.5 billion.
  
  
• Now that Dell has lost the bidding-war for 3Par, speculation has been swirling about who they could acquire next. In a recent analyst note, Wedbush said Dell should buy Compellent Technologies, Inc. (NYSE: CML) or Brocade Communications (Nasdaq: BRCD) instead of 3Par. CML is up 14% today and BRCD is up 8%. In addition, CommVault (Nasdaq: CVLT) is also seeing interest today, up 5 percent.
  
  
• With the PE takeover of Burger King today, the other recently rumored PE takeover target Saks (NYSE: SKS) was on the move today. The stock is up 11%.
  
  
• Burger-joints Jack in the Box Inc. (Nasdaq: JACK) +5.5%, Wendy's/Arby's Group, Inc. (NYSE: WEN) +6.5%, and Sonic Corp. (Nasdaq: SONC) +1.1% all saw interest on the takeover of Burger King. In addition, casual restaurant chain Denny's (Nasdaq: DENN) rose 2.7%
  
  
• Anadarko Petroleum (NYSE: APC), Beazer Homes (NYSE: BZH), Moody's (NYSE: MCO), Officemax Inc. (NYSE: OMX), Pharmerica Corp. (NYSE: PMC), Sandisk Corp. (Nasdaq: SNDK), Spreadtrum Communications (Nasdaq: SPRD), and Supervalu Inc. (NYSE: SVU), also had unsubstantiated takeover rumors surrounding them today.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• ByteDance Prefers TikTok Shutdown in US if Legal Options Fail - Reuters
• Korean Air in Talks to Buy at Least 10 Boeing 777X Jets (BA) - Reuters
• IMAC Holdings (BACK) halted on volatility, up 38%