Mergers & Acquisitions: Western Digital Tries to Salvage Hitachi Deal, IBM Acquires Q1 Labs
A.C. Moore Arts & Crafts (NASDAQ:ACMR) has agreed to be acquire by an affiliate of arts and craft distributor Sbar for $1.60 a share, a 68% premium on the stock’s closing price yesterday.
Western Digital (NYSE:WDC) has offered concessions to the EU in hopes of obtaining approval for its proposed $4.3 billion acquisition of Hitachi’s hard drive business. With Seagate’s (NASDAQ:STX) proposed acquisition of Samsung’s hard drive unit, the EU is worried market power will be consolidated in the hands of just two industry giants.
Red Hat (THT) will acquire Gluster, a developer of a software-based platform for building high-performance storage systems using commodity hardware, for $136 million.
A Reuters report this morning cited a source as saying EU regulators are set to formally object to the proposed merger of Deutsche Boerse and NYSE Euronext (NYSE:NYX).
IBM (NYSE:IBM) has acquired privately held Q1 Labs for an undisclosed sum as part of IBM’s move to short up the company’s enterprise analytics package for its security intelligence software.
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McGraw-Hill (NYSE:MHP) is selling its nine-station broadcasting group to E.W. Scripps (NYSE:SSP) for $212 million, cashing in on a “non-strategic asset” as its works toward splitting into two “pure play” companies.