Forget about Merger Monday, Transaction Tuesday is the new rage. Ok, it doesn't roll off the tongue like the former nor does it really stand up historically, but indeed, this particular Tuesday-at least in the financial world-was dominated by deal-related news, some of it speculative and some of it not.
We already delved into some of the happenings on the bankruptcy front with Toys 'R' Us filing for Chapter 11 and on the large-cap M&A front with recent T-Mobile USA Inc. (TMUS) and Sprint Corp. (S) rumors. But one rumored deal you may have not heard about is talk that Jollibee Foods (JBFCY) , based in the Philippines, is bidding for the British sandwich shop Pret A Manger in a deal that would well be worth north of $1 billion. A Pret deal could mark a move into more-upscale offerings for the chain, which has already expanded via acquisition in the Philippines but has struggled to grow outside its home country.
Also on the deal front, it looks as though the restraints may finally be coming off perennial acquirer Cisco Systems Inc. (CSCO) , as former CEO and current chairman John Chambers is finally making a complete exit from the networking company.
Reports have said that Chambers and successor Chuck Robbins had been at odds on numerous issues, including Cisco's acquisition strategy. Against this backdrop, it wouldn't be surprising if Robbins, no longer having to worry about Chambers vetoing a deal, pushes for a much bigger software purchases. Perhaps FireEye Inc. (FEYE) , Red Hat Inc. (RHT) or Citrix Systems Inc. (CTXS) are on the menu.