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Life Storage, Newmont, Danaher stocks move on reports of M&A activity

Yahoo Finance Live anchors discuss how Life Storage, Newmont, and Danaher stocks are moving following reports of M&A activity.

Video transcript

JULIE HYMAN: We've got sort of a mini merger Monday here today, at least some reports about some potential deals that are going on, and we haven't had very much of that this year, right? It's still been definitely a pall on merger-and-acquisition activity.

So let's run through some of the activity that we are seeing here. Public Storage making an unsolicited $11 billion bid for Life Storage, one of its rivals. You can see Public Storage is down 1.4%, and Life Storage is up by 17% today. If you look at the year to date here, you've got it up about 25% with today's gains.

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And apparently Life Storage has already rejected a previous offer from the company, and it's coming out in a statement essentially saying this new offer isn't that different. So it sounds like that they are going to potentially reject it once again.

Public Storage, by the way, separately announced it was boosting its dividend to $12 a share from $8, which would then sweeten its all-stock offer for Life Storage. So that's one that we're looking at.

Number two, we're looking at Newmont Mining here. The gold-mining giant coming out and saying it's offering $17 billion to buy Newcrest Mining of Australia, which, by the way, used to be part of Newmont many, many years ago. This would be the biggest deal that we have seen thus far this year. Would also be the biggest deal for Newmont in quite some time, and it would expand Newmont's copper holdings. Not just gold but also would increase its holdings in copper.

You could see that those shares of Newmont are trading lower today. Newcrest shares, as you might imagine, got a boost in Australian trading, about 9%.

And then finally quickly here, we're looking at Danaher as well. Bloomberg is reporting that the company has expressed interest in buying Catalent. These are both life-sciences equipment manufactures and device manufacturers. Danaher trading lower by about 1%. Catalent surging by some 34% in today's session.

So a little bit of uptick here in this activity. Already we're in February here, so we'll see if we get a lot more of this kind of activity thus far-- or as we go through, I should say, 2023.