· GENZ/SNY – the deal is formally unveiled this morning – SNY will buy GENZ for $74/shr cash + a CVR. The deal is expected to close early in Q2:11. The acquisition is expected to be accretive to sanofi-aventis’ Business Net earnings per share in the first year following closing, and accretive to Business Net earnings per share in the range of euro 0.75 – euro 1.00 by 2013. CC 8amET (866) 907-5925
· FDO – filing out from Trian Group – in the filing Trian says that it has made an offer to buy FDO for $55-60/shr cash. FDO Confirmed receipt of Trian Group’s unsolicited conditional proposal to acquire the co for $55-60/share in cash. Board will review the proposal in due course.
· Clariant AG agreed to buy private equity-owned Sued-Chemie AG in a transaction valued at 2 billion euros – Bloomberg
· JOE – Fairholme Capital will move to replace JOE’s board by written consent of the majority of the co’s shareholders. The deal could be announced as early as Wed. WSJ
· JOE – has adopted a shareholder rights plan that prevents any shareholder with a more than 10 per cent stake in the company from increasing that position without board approval – CNBC
· DELL – CFO tells DJ that it is considering to evaluate M&A candidates, but not chip companies (there was a mention Tues on ZDNet that DELL could consider an acquisition of AMD…DELL pretty much ruling that out); DELL on the call said they have no intention of taking the company private. On the call says their M&A going forward will look similar to their recent deals.
· MRK – the co said it had been unable to sell its Netherlands-based research unit Organon and will prob. wind up shuttering the business – Reuters
· Sam Zell considering acquisition of Chicago office building; would mark his first office acquisition in years; WSJ
· China M&A – the country’s economic planning agency said on Wed that its new rules for reviewing certain mergers and acquisitions won’t affect the country’s openness or efforts to attract foreign investors – DJ
· TLCR – this hit during trading on Tues – Reuters says that anti-trust regulators may challenge Grifols’ planned buy of TLCR on fears that the combination would reduce supplies and raise prices. Reuters
· Telecom M&A: Orange and T-Mobile are considering merging their mobile operations in several countries. France Telecom (which owns the Orange network) and Deutsche Telekom (which owns T-Mobile network) and are considering copying the merger of their UK operations, which created “Everything Everywhere” Telegraph
· NDAQ – Barron’s recommends a few options strategies depending on whether NDAQ is either a company buyer or an acquisition target – Barron’s
· CME – on Tuesday sought to quash speculation that it may make a counter bid for NYSE Euronext – Fox Business.
· BGP – the co officially filed bankruptcy this morning – Bloomberg