Mitsubishi Buys BofA Stake, Talison Lithium Backs Out of Rockwood Talks: Merger and Acquisition Recap

Knowledgeable sources report that Mitsubishi UFJ Financial Group is getting ready to announce the ¥39 billion, or $471 million, acquisition of Bank of America Corporation’s (NYSE:BAC) 49 percent interest in their Japanese private banking venture, Mitsubishi UFJ Merrill Lynch PB Securities Co. The purchase is pending final approval from the boards of both entities. Upon completion, Japan’s largest lender will own the entire private bank through two subsidiaries.

In a Wednesday release, The NASDAQ OMX Group (NASDAQ:NDAQ) said that it has reached an agreement with Thomson Reuters Corporation (NYSE:TRI) through which to purchase its Investor Relations, Public Relations and Multimedia Solutions units which supply insight, analytics and communications solutions to more than 7,000 clients worldwide. Once the transaction is completed, these complementary divisions will be integrated into NASDAQ OMX Corporate Solutions.

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The takeover discussions between the chemical producer Rockwood Holdings (NYSE:ROC) and Talison Lithium are being terminated at the latter’s request a week after it backed an improved offer from China’s Chengdu Tianqi Industry Group. The American firm Rockwood had offered to acquire Talison for C$6.50 per share, which was under Tianqi’s revised offer of C$7.50. Rockwood’s offer valued Talison at C$724 million, while Tianqi’s offer values it at C$847 million.

Gilead Sciences (NASDAQ:GILD) and YM BioSciences said Wednesday that they have reached a definitive agreement through which Gilead will purchase the latter YM for $2.95 per share. The cash transaction was approved unanimously by YM’s Board of Directors and values YM at about $510 million. Gilead intends to fund the deal with cash on hand. The transaction should close in the first quarter.

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