16 Stocks Making Big M&A News and Rumors This Week

Here’s your Cheat Sheet to this week’s top mergers and acquisition news:

Statoil ASA (NYSE:STO): Current price $21.58

Statoil will divest its minority interests in the Gullfaks and Gudrun fields offshore Norway, and at the same time exit the non-core, non-operated Schiehallion and Rosebank fields, West of the Shetlands. Together with the cash consideration of $2.65 billion, the transaction with the Austrian oil and gas firm OMV includes a contingent payment and involves a partnership between the two parties.

Though the terms, Statoil reduces its ownership position in Gullfaks from 70 to 51 percent, and from 75 to 51 percent in Gudrun, keeping its operatorships on both fields. Statoil anticipates a gain from the transaction estimated to be between $1.3 and $1.5 billion, adjusted for activity between the effective date January 1, 2013 and the closing date.

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STO 20130825

St. Jude Medical, Inc. (NYSE:STJ): Current price $51.92

The medical device firm said Monday that it has purchased Endosense SA, a Switzerland-based company that has been a pioneer in contact-force measurement in catheter ablation. The acquisition adds to St. Jude’s electrophysiology portfolio and affords a robust platform for future product development. The company has made an initial payment of around $170 million, acquiring all of the outstanding equity of Endosense. The terms also provide for an additional cash payment of as much as $161 million USD, which is contingent upon both the achievement and timing of a regulatory milestone.

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Autodesk, Inc. (NASDAQ:ADSK): Current price $38.87

Autodesk is presently enlarging its portfolio of tech for building information modeling for infrastructure following the completion of the purchase of certain technology assets from two software firms based in the United Kingdom. Autodesk has bought tech including Sam, which is a suite of software modules for loading, analysis, and design of small and medium span bridges from Bestech Systems Ltd.

From Savoy Computing Services Ltd, Autodesk has purchased tech including AutoTrack, a suite of software for vehicle swept path analysis and the design of parking areas and roundabouts. Financials of the transactions were not reported.

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C. R. Bard, Inc. (NYSE:BCR): Current price $114.43

On Monday, C.R. Bard announced that it will acquire the privately-held Medafor, Inc., which develops and provides plant-based hemostatic agents at the price of $200 million paid at the close, which should occur later in 2013 and future contingent payments of as much as an additional $80 million, based upon specific revenue-based milestones through June 30, 2015. This agreement is structured as a merger and has been approved by both firm boards and must be approved by Medafor shareholders and the usual regulatory review.

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BCOR 20130825

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Royal Bank of Scotland Group (NYSE:RBS): Current price $10.80

W&G Investments PLC on Tuesday extended an offer of as much as 1.5 billion pounds for 316 Royal Bank of Scotland branches that the latter must divest under European Union rules following its government bailout. W&G Investments is fronted by former Tesco Bank Chairman Andrew Higginson, and the firm is offering a 1.1 billion pound upfront payment plus a further 400 million pounds in additional payments calculated upon the manner in which the branches perform, according to a spokesman for the group.

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RigNet Inc. (NASDAQ: RNET): Current price $34

Global investment firm Kohlberg Kravis Roberts & Co. LP said Tuesday that funds that it advised or controlled are buying a significant minority interest in RigNet from investment firm Cubera, which specializes in the Nordic private equity market. Upon the close of the purchase of 4.75 million shares, which is subject to the usual approvals, KKR will become RigNet’s  No. 1 shareholder, holding a 27 percent stake in the firm.

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Blackstone Group LP (NYSE:BX): Current price $22.05

Two sources told Bloomberg that Blackstone will divest its 50 percent interest in London’s Broadgate office complex for more than 1.7 billion pounds. A sovereign wealth fund is under contract to purchase the interest, according to Bloomberg’s sources, who also said that Norway’s government wealth fund, which had been in discussions to buy the stake, is not the purchaser. Blackstone agreed not to sell its stake for three years after acquiring it in a 2009 transaction that valued the entire complex at 2.1 billion pounds.

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Teledyne Technologies Inc. (NYSE:TDY): Current price $80.65

Teledyne Technologies said Tuesday that its subsidiary, Teledyne Instrument  Inc., will acquire assets of SD Acquisition Inc. CETAC Technologies, with headquarters in Omaha, Nebraska, designs and manufactures automated sample handling and sample introduction equipment for laboratory instrumentation. Terms of the transaction were  not reported, but the close should occur August 30.

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TDY 20130825

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BHP Billiton Ltd. (NYSE:BHP): Current price $64.55

This week, BHP Billiton said that it has renewed a commitment to building its own potash mine, which dims the prospect of the firm taking over Mosaic Co. BHP now intends to see the Jansen potash project through to the output stage as it spends $2.6 billion and searches out partners — thus putting an end to chatter that the world’s number-one mining company might still consider an acquisition of the fertilizer maker Mosaic. The later’s enterprise value has fallen to $14.8 billion, which roughly equals the estimated cost of constructing Jansen, its first potash mine.

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Onyx Pharmaceuticals Inc. (NASDAQ:ONXX): Current price $118

Three knowledgeable sources say that Onyx has given potential suitors, including Amgen Inc., access to trial data on its new cancer drug, removing a crucial hurdle that was delayed deal talks.

The firm’s attempt to sell itself for approximately $9.5 billion ran into an impasse in recent weeks after the lead bidder Amgen requested trial data concerning its blood cancer drug Kyprolis, something that Onyx was reluctant to share, said Reuters last week. Onyx has now made more data available to Amgen and other parties involved in the sale process and is now awaiting a firm bid, according to the sources on Wednesday.

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Dole Food Co. Inc. (NYSE:DOLE): Current price $13.77

Shares of Dole are still up on Thursday after the company said that there are other parties who might be interested in beating Chairman David Murdock’s $13.50 buyout bid. This information was contained in Dole’s preliminary proxy and it moved the shares up to a $13.71 close on Wednesday.

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Cenveo, Inc. (NYSE:CVO): Current price $2.87

Cenveo said Thursday that it will acquire most all of the operating assets of National Envelope. Connected with Cenveo’s deal, Hilco Receivables will purchase substantially all the accounts receivable and Southern Paper will buy the firm’s inventory. Cenveo’s purchase price should be comprised of roughly $20 million in cash and $5 million of Cenveo common stock. The transaction closing is subject to bankruptcy court approval and the usual closing conditions.

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CVO 20130825

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US Airways Group (NYSE:LCC): Current price $16.16

The United States government’s attempt to disallow the proposed merger of American Airlines and US Airways to form the biggest airline on the planet has run afoul of officials in three states, who believe that the combined entity would benefit their local economies. Last week, the Justice Department brought a lawsuit challenging the merger, saying that it would shrink competition among air carriers and eventually cause higher fares for passengers.

However, some local political and business officials in Florida, Texas, and North Carolina, in which are located big hubs for American and US Airways, are requesting the federal government and supporting states to rethink the lawsuit.

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Kohlberg Kravis Roberts & Co. (NYSE:KKR): Current price $19.44

Two knowledgeable sources to Reuters say that KKR will purchase a sizable stake in Australia’s GenesisCare in a transaction valuing the company at as much as $600 million or $602 million. The buyer will take a stake of up to 63 percent in GenesisCare as it endeavors to take advantage of the rising need for healthcare in Oz, according to a statement which did not report a deal value.

GenesisCare operates an Australia-wide network of cancer and cardiovascular care centers and presently has earnings before interest, tax, depreciation, and amortization of $55-60 million, said one of the sources.

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Baidu, Inc. (NASDAQ:BIDU): Current price $138.64

The Chinese language Internet search provider Baidu and Renren Inc., which is a real-name social networking Internet platform in China, said jointly that Baidu
Holdings Limited will purchase a certain number of newly issued ordinary shares of Nuomi Holdings Inc., which is a wholly-owned subsidiary of Renren, representing roughly 59 percent of the equity interest in Nuomi. The purchase is at a price of $160 million in cash. The parties expect to close the transaction in the fourth quarter.

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Blucora, Inc. (NASDAQ:BCOR): Current price $20.21

Blucora said that it has finalized its previously-reported purchase of Monoprice, an online supplier of self-branded consumer electronics and accessories, in an all-cash transaction valued at $180 million. Monoprice provides premium-quality products at prices far below other national brands and has secured a loyal customer base by offering thousands of Monoprice-branded items on its website with outstanding customer service and prompt product delivery.

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BCOR 20130825

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