Anheuser-Busch Cos. Inc. (BUD) InBev $46B Bear Hug Offer Bear Hug Offer InBev bear hugs leading US brewer BUD acknowledges the $65 per share offer Belgian brewer InBev owns the Beck's and Stella Artois brands Would give InBev half the U.S. beer market InBev would overtake SABMiller as the world's biggest brewer by volume BUD news - stock [more...]
Ansoft Corp (ANST) ANSYS, Inc (ANSS) $832mm Stock - Cash Merger Summary Under the terms of the definitive agreement, which was unanimously approved by the Boards of Directors of both companies, Ansoft stockholders will receive $16.25 in cash and 0.431882 shares of ANSYS common stock for each outstanding Ansoft share. Based [more...]
Applied Biosystems Group (ABI) Invitrogen Corporation (IVGN) $6.7B Subsidiary Sale Summary Strategic combination creates premier provider of biotechnology reagents and systems $; $6.7B total Applera-Applied Biosystems shareholders will receive $38.00 for each share of Applera-Applied Biosystems stock they own in the form of Invitrogen common [more...]
Apria Healthcare Group Inc. (AHG) The Blackstone Group (BX) $1.6B Private Equity Buyout Summary BX to take home healthcare services company private $21.00 per share; $1.6B total Go shop until July 24 AHG news-stock chart Announced 6.19.08 Press release Form 8-K Advisors Financial AHG: Goldman BX: [more...]
Asyst Technologies, Inc. Asyst Technologies, Inc. Asyst Technologies, Inc. (ASYT) Gores Group LLC $298 mm Bear Hug Offer - WIthdrawn Bear Hug Offer [more...]
Axcelis Technologies Inc. (ACLS) Sumitomo Heavy Industries (SHI) / TPG Capital $544 mm Bear Hug Offer Bear Hug Offer SHI and TPG make bear hug offer for ACLS $5.20 per share; $544mm total Rejected by ACLS board ACLS news - stock chart Announced 2.25.08 ACLS press release ACLS slide presentation Board determines proposal 'not in best [more...]
The Bear Stearns Companies Inc. (BSC) JPMorgan Chase & Co. (JPM) Stock Merger Overview JPM acquires BSC in a fire sale JPM news - stock chart BSC news - stock chart Background of the Merger S-4 proxy statement 4.11.08 Initial announcement 3.16.08 0.05473 JPM share, per BSC share Valued at $2.00 per BSC share on announcement; [more...]
BEA Systems (BEAS) Oracle Corp (ORCL) $8.5B Summary Software company buys infrastructure software firm $19.375 per share; $8.5B total BEASstock chart Announced 1.16.08 Press release Form 8-K Background of the merger Developments Delaware Chancery denies motion to enjoin shareholder vote Press release 3.28.08 Closed 4.04.08 [more...]
Bentley Pharmaceuticals, Inc. (BNT) Teva Pharmaceutical Industries Ltd. (TEVA) $360mm Cash Merger Overview Leading generic pharmaceutical manufacturer to buy another BNT will first complete its previously announced spin-off of its drug delivery business Teva will acquire Bentley, which at closing will consist solely of the generic [more...]
Bois d'Arc Energy, Inc. (BDE) Stone Energy Corporation (SGY) $1.8B Stock - Cash Merger Summary ----- $; $ total BDE news-stock chart SGY news-stock chart Announced 4.30.08 Press release Slide presentation Scroll down Conference call transcript Form 8-K Form 8-K Advisors Financial BDE: Scotia [more...]
Borders Group, Inc. (BGP) Reviews Strategic Alternatives Overview BGP puts itself up for sale Press release 3.20.08 Form 8-K Hires JPMorgan and Merrill Lynch Receives financing commitment from Pershing Square Capital Commitment letter 13D amendment $42.5mm senior secured term loan facility BGP has option to have Pershing [more...]
Bright Horizons Family Solutions (BFAM) Bain Capital Partners $1.3B Private Equity Summary Private investment firm buys childcare company $48.25 share; $1.3B total BFAMstock chart Announced 1.14.08 Press release Form 8-K Advisors Financial BFAM / Special Committee: Goldman Sachs / Evercore Legal [more...]
Bronco Drilling Co (BRNC) Allis-Chalmers (ALY) 437.8mm Stock - Cash Merger Summary Oilfield company buys drilling company $16.33 per share; $437.8mm total BRNCstock chart Announced 1.24.08 Press release Form 8-K Advisors Financial BRNC: Johnson Rice & Co ALY: RBC Capital Markets Legal [more...]
Calpine Corporation (CPN) NRG Energy, Inc. (NRG) $2.63B Bear Hug Offer Bear Hug Offer NRG Energy bear hugs Calpine Target was first to publicly disclose the offer NRG offers 0.534 NRG share per CPN share, valued at $23 per CPN share $2.63B equity value $3.0B enterprise value CPN news - stock chart NRG news - stock chart Announced [more...]
Captaris Inc. (CAPA) Vector Capital Bear Hug Offer Bear Hug Offer Hedge fund bears hugs Captaris Offers $4.75 per CAPA share $2.63B equity value $3.0B enterprise value DBD makes ATMs and electronic security products DBD revenue recognition practices are under investigation, which has delayed filings of its financials CAPA news - stock [more...]
CHC Helicopter Corporation (FLI) First Reserve Corporation C$3.7B Buyout Summary Proposed buyout of oilfield services company World's largest provider of helicopter services to the global offshore oil and gas industry First Reserve is a private equity firm that specializes in the energy industry FLI is a Canadian company FLI news - stock [more...]
ChoicePoint Inc. (CPS) Reed Elsevier Group plc $4.1B Cash Merger Summary Information services company to acquire US-based credit bureau $50.00 per share; $4.1B total CPSnews - stock chart Background of the Merger CPS provides identification and credential verification software services Announced 2.21.08 Press release Form 6-K Form 8-K [more...]
Circuit City Stores, Inc. (CC) Blockbuster Inc. (BBI) Bear Hug Offer Bear Hug Offer Blockbuster bear hugs Circuit City Stores Offers $6.00 per CC share CC news - stock chart BBI news - stock chart Announced 4.14.08 BBI press release 4.14.08 Includes bear hug letter which indicates a range of $6-$8 per share, subject to diligence Form [more...]
Clayton Holdings Inc (CLAY) Greenfield Partners $134mm Buyout Summary PE firm to acquire due diligence and surveillance provider $6 per CLAY share; $134mm total plus repayment of $23.8mm of debt CLAYstock chart Announced 4.14.08 Press release Form 8-K Background of the merger Advisors Financial CLAY : Banc of [more...]
CNET Networks, Inc. (CNET) CBS Corporation (CBS) $1.8B Two-Step Merger Summary CBS to buy CNET Networks for $1.8B At $11.50 per CNET share Two-step merger: Cash tender offer followed by a back-end second-step merger CNET news - stock chart CBS news - stock chart Announced 5.15.08 Press release Slide presentation [more...]
CollaGenex Pharma (CGPI) Galderma Pharma $420mm two-step tender offer Summary Dermatology pharma buys specialty pharma $16 per CGPI share; $420mm equity See Tender Offer Documents below for additional filings Announced 2.26.08 Press release Form 8-K CGPI news - stock chart Advisors Financial CGPI : Cowen [more...]
Cost Plus, Inc. (CPWM) Pier 1 Imports, Inc. (PIR) Bear Hug Offer Bear Hug Offer Pier 1 bear hugs another home furnishing retailer Publicly announces bear hug offer CPWM news - stock chart PIR news - stock chart Announced 4.11.08 PIR press release 6.09.08 Includes bear hug letter Offers 0.6 PIR share per CPWM share, [more...]
Countrywide Financial Corp (CNC) Bank of America (BAC) $4B Fixed Exchange Stock Merger Summary Buyout creates largest US mortgage lender 0.1822 BAC share, per CNC share Background of the merger CNCstock chart Announced 1.11.08 Press release Form 8-K Advisors Financial CNC: Goldman Sachs / Sandler O'Neill BAC: [more...]
Critical Homecare Solutions Holdings Inc. MBF Healthcare Acquisition Corp. $420mm SPAC Acquisition - PE Exit Summary SPAC to acquire a home infusion therapy and specialty infusion services company MBH will acquire all of the outstanding capital stock of CHS, a Kohlberg & Co., LLC portfolio company, for $420 million Acquisition will be [more...]
CSK Auto Corporation (CSK) OReilly Automotive, Inc. (ORLY) $355mm Bear Hug Offer Bear Hug Offer OReilly Automotive bear hugs CSK Auto Offers $8.00 per CSK share $355mm equity value $845mm enterprise value DBD makes ATMs and electronic security products CSK and ORLY are both specialty retailers of automotive aftermarket parts, tools, [more...]
Diebold Incorporated (DBD) United Technologies (UTX) $2.63B Bear Hug Offer Bear Hug Offer United Technologies bear hugs Diebold Offers $40 per DBD share $2.63B equity value $3.0B enterprise value DBD makes ATMs and electronic security products DBD revenue recognition practices are under investigation, which has delayed filings of its [more...]
DRS Technologies, Inc. (NYSE: DRS), Finmeccanica, S.p.A. (Milan: FNC) $5.2B Cash Merger Summary Italian electronics company to acquire US defense contractor $81.00 per DRS share; $5.2B total DRS stock chart Announced 5.12.08 Press release Form 8-K Advisors Financial DRS: Bear Stearns / Merrill [more...]
Electronic Data Systems (EDS) Hewlett Packard (HPQ) $13.9B Cash Merger Summary World's largest tech co to acquire global leading tech co $25 per EDS share; $13.9B total EDSstock chart HPQ stock chart Announced 5.13.08 Press release Slide presentation Deal FAQs Form 8-K Advisors Legal EDS: Willkie Farr HPQ: Cleary Gottlieb [more...]
Encysive Pharmaceuticals Inc. (ENCY) Pfizer Inc. $195mm Two-Step Merger Summary Pfizer to acquire biotech focused on the treatment of pulmonary arterial hypertension (PAH) TTWO filed a 14D-9 recommending rejection of offer TTWO press release 3.26.08 See Tender Offer Documents below for additional filings ERTS launched a tender offer [more...]
Enodis (ENO.L) Manitowoc (MTW) $2.1B cash purchase Summary US maker of cranes and restaurant equipment to acquire British food equipment maker 258 pence cash for each ENO share; $2.1B total ENO to pay a dividend of 2p per ENO share in lieu of interim dividend, financial year ends 9.30.08 Recommended cash acquisition at 260 pence, plus [more...]
Essex Crane Rental Corp. Hyde Park Acquisition Corp. $210mm SPAC Acquisition - PE Exit Summary SPAC to acquire industrial crane rental company Essex Crane owns the largest specialized fleet of lattice-boom crawler cranes and attachments in North America Hyde Park will acquire Essex from private equity firm Kirtland Capital Partners for [more...]
Getty Images Inc. (GYI) Hellman & Friedman $2.4B Buyout Summary Proposed buyout of image - multimedia company $34 per GYI share; $2.2B enterprise value News - stock chart Announced 2.25.08 Press release Form 8-K Schedule 13D Background of the merger Advisors Financial GYI: Goldman Sachs Buyers: Barclays / [more...]
Global Ship Lease, Inc. Marathon Acquisition Corp. (MAQ) $1B SPAC Acquisition Summary SPAC to merge with a containership charter owner Global Ship Lease is currently a subsidiary of CMA CGM S.A. of France, the worlds third largest container shipping company MAQ will own 66% of the combined company, CMA CGM will own 34% MAQ news - stock chart [more...]
Greenfield Online, Inc. (SRVY) Quadrangle Group LLC $426mm Private Equity Buyout Summary Buyout of internet media company $15.50 per SRVY share; $426mm total SRVY news - stock chart Quadrangle website Announced 6.16.08 Press release Form 8-K Advisors Financial SRVY: Deutsche Bank Buyers: [more...]
Grey Wolf Inc (GW) Basic Energy Services Inc (BAS) Merger of Equals Summary Servicing rig co and contract land drilling service merge $1.82 per GW share and 0.25 shares of new GW for GW shareholders; $ total BAS shareholders to receive $6.70 in cash and 0.9195 shares of GW per BAS share GWstock chart BASstock chart Announced 4.21.08 [more...]
Hilb Rogal & Hobbs Company (HRH) Willis Group Holdings Limited (WSH) $2.1B Collared Cash Election Merger Summary UK-based global insurance broker to acquire US broker $46.00 per HRH share; $2.1B enterprise value Cash election merger: 50% cash - 50% stock, subject to proration Stock portion subject to a collar Will double WSH's North [more...]
LifeCell Corporation (LIFC) Kinetic Concepts, Inc. (KCI) $1.7B Two-Step Merger Overview KCI to acquire LIFC in a two-step merger $51.00 per LIFC share; $1.7B total LifeCell is a leader in innovative tissue repair products for use in reconstructive, urogynecologic and orthopedic surgical procedures Kinetic Concepts is a global medical [more...]
Magnum Coal Company Patriot Coal Corporation (PCX) $559mm Stock Merger Overview Patriot Coal to acquire Magnum Coal for $559mm in stock Magnum is one of the largest and lowest-cost coal producers in Central Appalachia, operating 12 mines and 7 preparation plants Magnum sold 18.4 million tons of coal in 2007 and has over 600 million tons of [more...]
Maguire Properties (MPG) $745mm Bear Hug Summary Chairman Robert Maguire proposes buyout $21 per MPG share; $745mm total $18.18 cash distribution $2.82 per share cash tender $0.59 in attributed value per share MPGstock chart Announced 4.28.08 Press release Form 8-K Related Topics REITs Private Equity
Mentor Graphics Corporation (MENT) Cadence Design Systems, Inc. (CDNS) $1.45B Bear Hug Offer Bear Hug Offer Semiconductor services company bear hugs rival Offers $16 per share, $1.45B total MENT news - stock chart CDNS news - stock chart Announced 6.17.08 CDNS press release Includes bear hug letter CDNS confirms that it [more...]
Millennium Pharmaceuticals, Inc. (MLNM) Takeda Pharmaceutical Company Limited $8.8B Cross-Border Two-Step Merger Overview Japanese drug company to acquire US biotech For $25.00 per share; $8.8B total Background of the offer MLNM new - stock chart Announced 4.10.08 Press release Slide presentation Deal FAQs Closed 5.14.08 Press [more...]
Northwest Airlines Corporation (NWA) Delta Air Lines Inc. (DAL) Stock Merger Overview Merger will create world's largest air carrier Background of the merger All-stock merger 1.25 DAL shares, per NWA share Values NWA at $3.6B, or $13.10 a share, a 17% premium Combined company to have $17.7B enterprise value 7 DAL directors / 5 NWA directors / 1 [more...]
NuCO2 Inc. (NUCO) Aurora Capital Group $487mm Buyout Summary Proposed buyout of bulk CO 2 provider NUCO services the US fountain beverage industry $30 per NUCO share; $487mm enterprise value News - stock chart Announced 1.29.08 Press release Form 8-K Schedule 13D Background of the merger Developments Shamrock Activist Value Fund [more...]
NYMEX (NMX) CME Group (CME) Stock / Cash $3.4B Summary CME Group to acquire NYMEX on previously discussed terms $36 per NMX share; $3.4B total Press release Form 8-K Preliminary discussions 1.28.08 NMXstock chart CMEstock chart 30 day exclusive negotiating period $36.00 cash, 0.1323 CME stock Press release Developments Nymex forced to reconsider [more...]
Option One Mortgage Corporation (OOMC) H&R Block Inc. (HRB) WL Ross & Co. LLC. Subsidiary Sale - Private Equity Overview Sale of subprime mortgage servicing business Option One Mortgage Corporation to be sold to an entity sponsored by WL Ross & Co. LLC, a private equity firm HRB news - stock chart Announced 3.17.08 Press release [more...]
Packeteer, Inc. (PKTR) Elliott Associates LP $200.8mm Unsolicited Offer Overview Hedge fund makes a $200.8mm unsolicited offer Launches a tender offer at $5.50 per share Background of the offer PKTR new - stock chart Announced 3.20.08 Press release Elliott Associates had previously publicly disclosed a bear hug offer See Bear Hug Offer [more...]
Packeteer (PKTR) Blue Coat (BCSI) $268mm cash deal Summary Packeteer rejected hedge fund Elliott Assoc' offer to buy for $5.50 per PKTR share, the hedge fund will sell its 9.9% stake to Blue Coat $7.10 per PKTR share; $268mm total PKTRstock chart BCSIstock chart Announced 4.21.08 Press release Form 8-K Advisors [more...]
Performance Food Group (PFGC) Vistar Corp / Blackstone Group (BX) / Wellspring Capital $1.3B Summary Private equity portfolio company to acquire food distributor $34.50 per share; $1.3B total PFGCstock chart BXstock chart Announced 1.18.08 Press release Form 8-K Background of the merger Closed 5.14.08 Press release Form 8-K [more...]
Quintana Maritime (QMAR) Excel Maritime (EXM) $2.45B Stock-Cash Merger Summary Transportation firm buys other transportation firm $13.00 per share, 0.4084 EXM stock; $2.45B total QMARstock chart EXMstock chart Announced 1.29.08 Press release Form 8-K Background of the merger Closed 4.15.08 Form 25 Form 25 Form 25 Press release [more...]
Safeco Corp (SAF) Liberty Mutual Group $6.2B Cash Merger Summary Will create the nation's fifth-largest property and casualty insurer $68.25 per SAF share; $6.2B total SAF news - stock chart Liberty Mutual news Announced 4.23.08 Press release Form 8-K Advisors Financial SAF Morgan Stanley [more...]
Simtek Corporation (SMTK) Cypress Semiconductor (CY) Bear Hug Offer Bear Hug Offer Cypress bear hugs specialty semiconductor company $4B market cap company makes a bear hug offer for a $42mm market cap company Offers $2.20 per SMTK share SMTK designs and markets "NV + fast SRAM" nonvolatile semiconductor memory products for use in [more...]
Sirtris Pharma (SIRT) GlaxoSmithKline (GSK) $720mm Cash Tender Offer Summary World's leading research-based pharma to acquire sirtuins research pharma company $22.50 per SIRT share; $720mm total 20-day tender offer Approved by both boards SIRTstock chart GSKstock chart Announced 4.23.08 Press release Form 8-K Advisors [more...]
Stream Holdings Corp. Global BPO Services Corp. $226mm SPAC Acquisition - PE Exit Summary SPAC to acquire a business process outsourcing company GBPO has agreed to pay $225.8 million, subject to certain adjustments for working capital, for 100% ownership of Stream The purchase price will be paid by a combination of the assumption or replacement [more...]
Synplicity Inc (SYNP) Synopsys Inc (SNPS) $227mm Summary IP designer acquires FPGA/IC designer $8 per SYNP share; $227mm total SYNPstock chart SNPSstock chart Announced 3.20.08 Press release Form 8-K Background of the merger Agreements General Edgar filing Other Agreements Voting [more...]
Take-Two Interactive Software, Inc. (TTWO) Electronic Arts Inc. (ERTS) Unsolicited Tender Offer Summary Rival video game manufacturer launches an unsolicited tender offer After making a publicly disclosed tender offer TTWO filed a 14D-9 recommending rejection of offer TTWO press release 3.26.08 See Tender Offer Documents below for [more...]
Time Warner Cable Inc. (TWC) Time Warner Inc. (TWX) Spin-off / Special dividend Overview Time Warner to spin-off its cable business Time Warner Cable will first pay a $10.9B special dividend; $9.25B of which will go to Time Warner TWC news - stock chart TWX news - stock chart Announced 5.21.08 Press release Form 8-K Slide [more...]
The TriZetto Group, Inc. (TZIX) Apax Partners $1.4B Buyout Summary Healthcare information company to go private $22.00 per TZIX share TZIX customers will participate BlueCross BlueShield of Tennessee and The Regence Group, both customers of TriZetto, are providing a portion of the funding for the transaction and will be equity [more...]
Tutor-Saliba Corporation Perini Corporation (PCR) $862mm Stock Merger Overview Merger of construction companies Public company - Perini - will issue stock to private company shareholders Tutor-Saliba shareholders will own 45% of the combined company PCR news - stock chart Announced 4.02.08 Press release Slide presentation Developments [more...]
Wendy's International (WEN) Triarc Companies (TRY) $2.34B All stock deal Summary Nelson Peltz's Triarc Cos acquisition of Wendy's creates the 3rd largest fast food company $26.78 per WEN share and 4.25 shares of Triarc for each WEN share; $2.34B total Deal pushed by activist shareholders, Peltz owns 9.8% stake [more...]
Weyerhaeuser Company (WY) International Paper (IP) $6.0B Asset Sale Summary WY sells its containerboard business to IP Structured as a $6.0B asset sale IP: "Because the transaction is a purchase of assets rather than of stock, International Paper will realize a tax benefit that has an estimated net present value of approximately $1.4 [more...]
W-H Energy Services, Inc. (WHQ) Smith International, Inc. (SII) $3.2B Stock - Cash Merger Summary ----- $; $ total WHQ news-stock chart SII news-stock chart Announced 6.03.08 Press release Slide presentation Conference call transcript Form 8-K Advisors Financial WHQ: UBS SII: J.P. Morgan [more...]
The William Wrigley Jr Company (WWY) Mars Inc / Berkshire Hathaway $23B Cash Merger Summary Will create world's largest candy maker $80 per WWY share; $23B total Buffett's Berkshire Hathaway to buy a $2.1B stake in the Wrigley division after deal is completed Mars is one of the largest private US companies WWYstock chart Announced [more...]
Yahoo! (YHOO) Microsoft (MSFT) $44.6B Bear Hug Offer Bear Hug Offer Microsoft bear hugs Yahoo! Offer valued at $44.6B on announcement $31 per share; half cash - half MSFT stock Cash election, subject to proration Value of MSFT shares has declined since announcement YHOO news - stock chart MSFT news - stock chart Announced 2.01.08 MSFT press [more...]