International Paper (NYSE:IP) took its $3.3 billion bid for Temple-Inland (NYSE:TIN) directly to the company’s shareholders on Monday. The hostile bid values shares at $30.60 each, only slightly above Monday’s closing price of $30.55, though up 46% over its closing price on June 6, the last full day of trade before International Paper first unveiled its offer. Temple-Inland is against the takeover, claiming that International Paper’s valuation of the company is too low.
Citrix Systems (NASDAQ:CTXS) has bought cloud start-up Cloud.com for an undisclosed sum. Citrix hopes to be a major force in the cloud sector (SKYY), building on-premise Infrastructure-as-a-Service clouds. Cloud.com comes with established customers including Bechtel, GoDaddy, and Zynga. Don’t Miss: Cloud Computing: Your Cheat Sheet to the Cloud Business Landscape.
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NCR (NYSE:NCR) has agreed to buy Radiant Systems (NASDAQ:RADS) in a $1.2 million cash deal as the technology company tries to expand into the restaurant and entertainment business. Radiant Systems provides technology solutions for managing site operations in the hospitality and retail industries. The deal values Radiant Systems shares at $28 each in a tender offer that will begin by July 25 and last at least twenty business days. The bid is a 30% premium on Monday’s closing price, but news of the bid caused Radiant Systems shares to jump 30.54% today, now trading at exactly $28 a share.