Mergers and Acquisitions Recap: Exxon Mobil Heads Deals and Rumors of the Week

Monday

1)    Alpha Bank will acquire Eurobank to create Greece’s largest bank in a move that will both strengthen the two banks and bring stability to the Greek financial sector as a whole. Combined, the two banks have a total of 146 billion euros in assets.

Investing Insights: 5 Investing Strategies For Volatile Stock Markets.

 2)    Green Mountain Coffee (NASDAQ:GMCR) has agreed to sell its workplace coffee service, Filterfresh, which it obtained in 2010 through its acquisition of Van Houtte, for $145 million in cash to ARAMARK. Green Mountain has $422 million in debt, which it could pay down using the money from the sale.

 3)    Bank of America (NYSE:BAC) plans to sell more than half of its stake in China Construction Bank to private equity firms and a consortium of Asian sovereign wealth funds for $10 billion. The deal could go through as soon as today.

 4)    Wells Fargo (NYSE:WFC), JPMorgan (NYSE:JPM), and Lone Star have won in a bid for Anglo Irish Bank’s $9.65 billion portfolio of U.S. commercial real-estate loans. The offer values the assets at about $0.80 on the dollar. Performing debt will go to JPMorgan and Wells while Lone Star will take the subperforming and nonperforming loans.

 5)    AuRico Gold (AUQ) has agreed to buy Northgate Minerals (AMEX:NXG) for $1.48 billion, creating a major gold producer with operations in Canada, Mexico, and Australia. Northgate investors will receive 0.365 shares of AuRico common stock for each Northgate share they own, a 45% premium on Northgate’s average price over the last 20 days. AuRico shareholders would own 62% of the new company, while Northgate shareholders would hold 38%.

6)    The Federal Reserve will hold hearings on Capital One’s (NYSE:COF) planned $9 billion takeover of the ING Group’s (NYSE:ING) American online banking operations. In buying ING Direct USA, the concern is that Capital One, which would become the nation’s fifth-biggest lender with more than $200 billion in deposits, would become another “too-big-to-fail giant“.

Tuesday

1)    Limelight Networks (NASDAQ:LLNW) has announced it will sell its EyeWonder media advertising unit to DG (NASDAQ:DGIT) for $66 million in cash. “This deal is another step forward in expanding DG’s presence in the fast-growing Internet advertising vertical,” said Scott Ginsburg, Chairman and CEO of DG.

2)   Australian mining company Macarthur Coal (MCC) is backing a $5.12 billion offer from coal company Peabody Energy (NYSE:BTU) and steel producer ArcelorMittal(NYSE:MT).

3)    Rival Anglo American may still shake up the coal industry (NYSE:KOL) with a new bid.

4)    U.S. regulators have given General Electric (NYSE:GEconditional approval to buy Converteam, a French company that makes high-efficiency motors for oil and gas refineries. On Monday, the Justice Department said GE would have to sell the Converteam Group’s Electric Machinery Holding Co. if it wanted to proceed with the $3.2 billion deal for a majority stake in Converteam.

5)    Cisco (NASDAQ:CSCO) announced Monday that it had bought privately-held Versly for an undisclosed amount. The purchase is intended to help Cisco expand in collaboration technology aimed at corporate clients who want to facilitate employees working together more easily. Cisco estimates that there is a $45 billion market for the technology.

Wednesday

1)    Joy Global (NASDAQ:JOYG) plans to sell its LeTourneau drilling operation to Cameron International (NYSE:CAM) for $375 million. JOYG is currently in the process of buying China’s International Mining Machinery Holdings.

 Check Out: AT&T: We will Bring Back 5,000 Outsourced Call-Center Jobs to the U.S.

2)    Yesterday Exxon Mobil (NYSE:XOM) announced an agreement with Russia’s state oil company, Rosneft, to explore for oil in a Russian portion of the Arctic Ocean. Earlier this year, BP (NYSE:BP) reached a similar deal with Rosneft that fell through when BP’s other Russian partners objected.

 3)    ToshibaHitachi (NYSE:HIT), and Sony (NYSE:SNE) announced a joint venture for small-size LCDs. The new business will be supported by a Japanese (NYSE:EWJ) government-backed fund that will invest 200 billion yen for a 70% stake. The joint venture will capture more than 20% of global market share.

 4)    AOL (NYSE:AOL) has been meeting with bankers in recent days to discuss the media companies options as its stock price continues to fall. One such option may be taking the company private, with early discussions focusing on an attractive price that would get AOL’s management to consider such a transaction.

 5)    CNN (NYSE:TWX) has acquired Zite, a company that markets an iPad app that learns what its users want to read and view, for an undisclosed amount, though reports put the sale price at around $20 million to $25 million. CNN says it will keep Zite as a stand-alone business, but would use its softwrae for CNN.com and other parts of its digital business.

 6)    eBay (NASDAQ:EBAY) expects sales from greater China (NYSE:FXI) to grow 30% to 40% on an annual basis, with 2010 sales coming in at around $4 billion, and is seeking acquisition opportunities that will aid its expansion in the fast-growing market. China has a total of 470 million internet users.

7)    Focusing his attentions on Clorox (NYSE:CLX), Carl Icahn is ending his battle over control of Lions Gate Entertainment (NYSE:LGF), agreeing Tuesday to sell off his entire stake in the movie studio. Icahn first sought to buy Lions Gate in March 2010 when his proposal to increase his stake to 30% was rebuffed.

Thursday

1)    ValueClick (NASDAQ:VCLK) announced yesterday that it has completed its acquisition of Dotomi in a deal that will allow ValueClick to expand its cross-selling opportunities among media platforms. ValueClick acquired all of the outstanding equity interests in Dotomi for upfront consideration, which consists of 7.1 million shares of ValueClick common stock, the assumption of Dotomi’s stock options, both fully vested and unvested, and $148 million in cash.

 2)    I.B.M. (NYSE:IBMhas agreed to buy Algorithmics, a risk analytics company, for $387 million in order to expand its services for financial institutions. Hewlett-Packard (NYSE:HPQ) made a similar move last month when it agreed to pay $11.7 billion for Autonomy, a British data analysis company that searches and keeps track of corporate and government information.

3)    Headphone maker Skullcandy Inc. (NASDAQ:SKUL) hasbought Kungsbacka 57 AB for $18.6 million, which held an exclusive distribution agreement for Skullcandy products in Europe through November 2013. Skullcandy, which raised $188 million in its IPO in July, hopes its purchase of Kungsbacka will help add to earnings starting in 2012.

4)    According to CEO John Watson, Chevron (NYSE:CVX) will not spin off its refineries into a separate company as did Marathon Oil (NYSE:MRO) earlier this summer, and ConocoPhillips (NYSE:COP) plans to do.

More from The Cheat Sheet