Mergers and Acquisitions Recap: Deals and Rumors of the Week

Energy Transfer Equity (NYSE:ETE) has increased its bid for Southern Union (NYSE:SUG) to $8.9 billion, or $40 a share, from its original offer of $7.9 billion, including $5.1 billion in cash. The offer tops Williams’ Companies (NYSE:WMB) $8.7 billion bid.

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Immucor (NASDAQ:BLUD) will be acquired by TPG Capital in a $1.79 billion deal, at $27 a share. Immucor makes equipment used to test blood prior to transfusions.

Worthington Industries (NYSE:WOR) will acquire Newell Rubbermaid‘s (NYSE:NWL) BernzOmatic unit, which makes retail torches, solder irons, and accessories. Last year, BernzOmatic brought in $100 million in revenue.

Western Union (NYSE:WU) will acquire Travelex Global Business Payments for £606 million in cash. The company specializes in providing international business payments. The acquisition will allow Western Union access to the growing international market.

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Cable operator Insight has attracted offers of over $3 billion in an auction that counted Mediacom (NASDAQ:MCCC) and WideOpen West as bidders. Time Warner Cable (NYSE:TWC) is interested in the company, but is unlikely to make a bid unless the price falls below $3 billion, while Cablevision (NYSE:CVC) has already dropped out of the auction.

National Oilwell (NYSE:NOV) has agreed to buy pipeline-maker Ameron International Corp. (NYSE:AMN) for $772 million in cash, valuing shares at $85 each, a 28% premium on Ameron’s closing price July 1.

Warren Buffet’s Berkshire Hathaway Inc. is part of a consortium of bidders for Citibank‘s (NYSE:C) consumer-lending business, CitiFinancial. Other bidders include Centerbridge Partners LP and Leucadia National Corp. The consortium plans to write a large equity check as well as borrow money in order to finance what could be an $8 billion purchase.

Yesterday Bank of Montreal (TSE:BMO) closed its purchase of Milwaukee’s Marshall & Ilsley Corp., and with the deal’s close, seventeen of M&I’s officers became entitled to $90 million worth of cash and stock, depending on whether they stayed with BMO.

Disney (NYSE:DIS) CEO Robert Iger says that Hulu‘s owners –  NBCUniversal (NASDAQ:CMCSA), Fox Entertainment Group (NASDAQ:NWSA), Providence Equity Partners, and of course, Disney — are committed to selling the online video streaming website. Reportedly showing interest in the site are Google (NASDAQ:GOOG), Yahoo! (NASDAQ:YHOO), and Microsoft (NASDAQ:MSFT).

NYSE Euronext (NYSE:NYX) investors have this morning approved a plan to merge with Deutsche Boerse AG to create the largest exchange group in the world, with two-thirds of all Euronext shares voting on the merger, 96% of which were in favor. Deutsche Boerse must secure approval from 75% of its shares by next Wednesday for the deal to move forward. Shares in both exchanges are up today as Deutsche Boerse is expected to approve the merger with a great majority.

So far roughly 11% of Deutsch Boerse shares have already turned in paperwork approving the merger. According to NYSE (NYSE:NYX) CEO Duncan Neiderauer, “[he hasn’t] met a single Deutsche Boerse shareholder who is not supportive of the combination,” and is more concerned about shareholders getting their paperwork in on time.

Niederauer is expected to get a 4-year appointment to the board of the new, as-yet-unnamed exchange, with other executives from both NYSE Euronext (NYSE:NYX) and Deutsche Boerse expected to make similar agreements.

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After investors in both exchanges approve the merger, the deal will then have to go through a lengthy regulatory approval process that requires over 40 separate clearances.

With News of the World‘s hacking scandal, News Corp.‘s (NASDAQ:NWSA) takeover of British broadcaster BSkyB was in jeopardy. But now that Rupert Murdoch has shut down the newspaper and the British police are investigating the hacking, it looks as though News Corp. has distanced itself from the scandal enough to put its planned takeover of BSkyB back on track.

On Thursday, a judge approved Dish Network‘s (NASDAQ:DISH) acquisition of TerreStar (PINK:TSTRQ) for $1.375 billion. The sale is to support TerreStar’s creditors after the company had over $1 billion of debt when it filed for Chapter 11 in October. See how this news is affecting key satellite companies DIRECTV (NASDAQ:DTV) and Echostar Corporation (NASDAQ:SATS).

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Bank of America (NYSE:BAC) has agreed to sell its life insurance operations, Balboa Life Insurance Co., to Securian Financial Group after A.M. Best said it may downgrade the business. The deal is expected to be completed on October 1. BofA acquired Balboa in 2008 when it bought out home lender Countrywide Financial Corp.

American Apparel (AMEX:APP) just received at least $6 million from a group of Canadian investors Thursday, part of a rescue packaged reached in April for as much as $43 million. The Canadian investors are led by frozen-foods magnate Michael Serruya.

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