===Splunk (SPLK) : $20 billion-plus takeover from Cisco (CSCO)

Cisco Systems Inc. (CSCO) has made a takeover offer worth more than $20 billion for software maker Splunk Inc.   Its most recent deal of size was its nearly $5 billion purchase of Acacia Communications Inc. in 2021.

Splunk is currently searching for a chief executive after Doug Merritt stepped down from the role in November after roughly six years following a series of disappointing earnings reports. The company named Chairman Graham Smith as interim CEO, a position he still holds.

Splunk, founded in 2003, makes software used by companies’ information-technology and security operations to monitor and analyze data.

Software has been a hot corner of the M&A market lately, with a number of companies in the sector being snapped up by private-equity firms or other industry players. In one of the latest examples, Citrix Systems Inc. agreed to be taken private by a pair of private-equity firms in an acquisition valued at $16.5 billion, including debt.

Splunk said in June that technology-focused private-equity firm Silver Lake was making a $1 billion investment in the company to help support the transformation of the business. Splunk has been shifting from a traditional software-licensing arrangement to a cloud-based subscription model. An increase in the shares on news of that investment had evaporated by the close of trading Friday.

There were $2.6 trillion of merger deals announced in the U.S. in 2021, up 76% from the prior year, according to Dealogic.

=Newmont Mining (NEM) : Barrick Gold (GOLD) considering hostile takeover of NEM

• These companies were close to a merger in 2014 when the negotiations collapsed
• 2/25/1:  Newmont Mining confirms receipt of acquisition proposal from Barrick Gold (GOLD), says will fully evaluate and respond in due course. The transaction proposal is conditional on Newmont not proceeding with its proposed combination with Goldcorp Inc. (GG) and other conditions, including confirmatory due diligence by Barrick.

(Reuters) - Canada's Barrick Gold Corp is considering a hostile bid for Newmont Mining Corp for about $19 billion in stock, in what would potentially be one of the largest-ever mining deals, the country's Globe and Mail newspaper reported.

The paper, which also reported that Barrick would flip some of Newmont's assets to Australia's Newcrest Mining, cited industry sources familiar with the situation.

Under the potential terms, Barrick would keep Newmont's Nevada and African mines, while Newcrest was considering taking over its Australian operations, according to the report.

Barrick, which spent $6.1 billion on buying rival Randgold Resources last month, has formed new management teams and cut administrative costs as part of new Chief Executive Mark Bristow's plan to set the combined company firmly apart from peers.

Bristow had said on a post-earnings call that Barrick Gold would continue to look at opportunities for mergers or acquisitions.

Barrick and U.S. company Newmont have long been touted as a potential match, as they have plenty of overlap around their North American operations, said an Australia-based banker.

"(But) there's a danger that Barrick is biting off more than it can chew (by making another large acquisition)," he said, declining to be identified due to the sensitivity of the issue.

Without such a deal, Barrick could cede its crown as the world's largest gold producer to Newmont, which is due to close its $10 billion buyout of smaller rival Goldcorp Inc next quarter.

If Barrick were to be successful, the merger between Newmont and Goldcorp would not go ahead, and Barrick would be liable for a $650 million break fee, the newspaper reported.

Bloomberg reported on Thursday that Barrick had studied a bid for Newmont as it looks for ways to boost production, citing people familiar with the matter.

Newmont declined a request from Reuters for comment, while Barrick did not immediately respond to request for comment.

A Newcrest spokesperson said the firm did not comment on M&A speculation. Goldcorp was not immediately available for comment.

AUSTRALIAN FIT?

Newmont has three gold mines in Australia, which have a net present value of $4.5 billion according to AME Group, but none of those are seen as the kind of large 'tier one' developments that Newcrest has said are a prerequisite for any major buys.

"Newcrest has a production hole in a couple of years' time with Cadia going offline," said one fund source based in Melbourne, referring to one of Australia's largest gold mines.

"It makes sense that they would be looking, but I would question the 'tier one' nature of the asset."

Any deal for the assets would hinge on price and the manner of payment, two other bankers and a fund manager said.

"I wouldn't care if they are not 'tier one' assets," said Simon Mawhinney of Allan Gray in Melbourne, which is the top shareholder in Newcrest with a stake of around 9 percent.

"But I would care if they were overpaid for, that would be a big issue."

-=Allergan (AGN) in talks to acquire Shire (SHPG), competing against Takeda

(Reuters) - Botox maker Allergan Plc is in talks to acquire Shire Plc, competing against Japan's Takeda Pharmaceutical Co Ltd for the London-listed drugmaker, two sources familiar with the matter said on Thursday.

It is not clear whether Allergan has submitted an offer, and there is no certainty of a bid, the sources said. Shire on Thursday said it had rejected an offer worth around $61 billion from Takeda.

The sources asked not to be identified because the matter is confidential. Allergan declined to comment, while Shire and Allergan did not immediately respond to requests for comment.

=Buffalo Wild Wings (BWLD) : takeover offer from Roark Capital

• Roark Capital has made an offer to buy Buffalo Wild Wings.
• Roark made an offer of more than $150 per share.  The Wall Street Journal initially reported the offer.
• Shares of the restaurant chain have shed 24 percent this year.

Last month, the company surprised the Street and beat its third quarter earnings expectations while raising full-year guidance. The company had slashed its forecast for the year in July after a sizable second-quarter miss.

=Qualcomm (QCOM) rejects the unsolicited proposal by Broadcom (AVGO)

• November 6, 2017: Broadcom (AVGO) offers to acquire the rival chipmaker for $70 per share ($103 billion)
• November 13, 2017: Qualcomm rejected rival Broadcom Ltd's $103-billion takeover bid, saying the offer "dramatically" undervalued the U.S. company.

Qualcomm confirms its Board of Directors unanimously rejected the unsolicited proposal announced by Broadcom (AVGO) on November 6, 2017 

"The Board and Management are singularly focused on driving value for Qualcomm's shareholders. After a comprehensive review, conducted in consultation with our financial and legal advisors, the Board has concluded that Broadcom's proposal dramatically undervalues Qualcomm and comes with significant regulatory uncertainty. We are highly confident that the strategy Steve and his team are executing on provides far superior value to Qualcomm shareholders than the proposed offer."

"No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry. We are confident in our ability to create significant additional value for our stockholders as we continue our growth in these attractive segments and lead the transition to 5G."