Mergers and Acquisitions Roundup: M&T PURCHASES Hudson City, IBM BUYS Kenexa

M&T Bank Corporation (NYSE:MTB) acquires Hudson City Bancorp, Inc. (NASDAQ:HCBK) in an all-stock transaction for $3.7 billion. Under the terms, each share of Hudson City will be worth 0.08403 shares of M&T, which comes to $7.22 per share for HCBK, marking a 12.1 percent windfall to its Friday close.

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International Business Machines Corporation (NYSE:IBM) buys HR software vendor Kenexa Corporation (NASDAQ:KNXA) for the price of $1.3 billion, or $46 a share, making for a 42 percent premium to Kenexa’s close on Friday. The purchase, expected to close in the fourth quarter, follows SAP and Oracle’s buyouts of peers SuccessFactors and Taleo, and comes while Workday readies an initial public offering. Further, the cloud player Cornerstone OnDemand, Inc. (NASDAQ:CSOD) has not yet found a suitor, but that fact might help it trade higher on the news.

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