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:

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Lowe’s Companies (NYSE:LOW): Current price $39.55

The home improvement giant will pay $205 million to buy a minimum of 60 Orchard Supply Hardware stores in California following the latter filing for bankruptcy relief. The purchase will provide Lowe’s with a smaller store format and also allow it access to a new customer base in California, in which it already operates 110 outlets, according to a Monday statement. Along with the cash purchase price, Lowe’s will assume amounts owed to close to all of Orchard’s vendors. Lowe’s said that it is attempting to grow its number of stores in the state as housing recovers.

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LOW

BioScrip (NASDAQ: BIOS): Current price $16.55

On Monday, BioScrip said it will acquire the business of CarePoint Partners Holdings, together with its subsidiaries, at a cash price of $223 million, subject to some adjustments. CarePoint Partners is a top national supplier of home and alternate-site infusion therapy for patients suffering from complex, acute, and chronic illnesses. The buyer also expects to obtain the value of a future tax benefit calculated at $45 million, resulting from the transaction, yielding a net purchase price of $178 million. The transaction is set to close in the third quarter.

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BIOS

IntercontinentalExchange (NYSE:ICE): Current price $172.56

ICE is poised to win unconditional European Union clearance for its $8.2-billion offer for NYSE Euronext (NYSE:NYX), following antitrust regulators seeing no competition worries, according to two inside sources on Monday. The purchase will allow ICE control of Liffe, which is the number-two derivatives market on the Continent, and also reinforce its presence in the interest rate futures business. One sources commented that “the deal is expected to be approved by the European Commission without any conditions.”

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ICE

Teva Pharmaceutical Industries (NYSE: TEVA): Current price $38.74

Teva said Monday announced that it will acquire the privately-held MicroDose Therapeutx, which is a pharmaceutical and drug delivery firm that concentrates upon inhalation technologies and products for lung diseases and infections, possessing the potential to dramatically improve efficacy and patient compliance. With the acquisition of MicroDoses tech and products, Teva is moving towards expanding its respiratory pipeline; the buyer will now have access to MicroDoses proprietary tech, including its multi-dose dry powder nebulizer device, which needs no preparation and can be administered in fewer than 30 seconds.

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TEVA

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Nokia Corporation (NYSE:NOK): Current price $3.92

The German industrial conglomerate Siemens is looking for offers from private equity companies to purchase its interest in its telecoms equipment joint venture Nokia Siemens Networks, according to three knowledgeable sources on Tuesday, which explained that Siemens, along with its partner Nokia, is bringing efforts back to life to search out a buyer and has contacted private equity companies TPG, KKR, and The Blackstone Group. Nokia and Siemens have been hoping to get out of the joint venture company via a buyout or public offering.

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NOK

Elan Corporation (NYSE:ELN): Current price $14

On Tuesday, Royalty Pharma abandoned its hostile bid worth as much as $8 billion for Elan, allowing the Irish drug maker to freely search for other suitors, having put itself on the block last week. Royalty withdrew its appeal against a ruling by Ireland’s takeover regulator, meaning that the offer automatically lapses and concludes a bitter, four-month struggle that involved court hearings, injunctions, and angry words between the two parties. The end of that epoch begins a new takeover process for Elan, which has invited bids and has gotten interest from “more than one interested party.”

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ELN

Dell (NASDAQ:DELL): Current price $13.34

CNBC reported Tuesday afternoon that Carl Icahn, who has been pressing for a restructure of the firm and for it to pay a large dividend against a leveraged buyout proposed by Chief Executive Michael Dell, sent a letter to shareholders proposing a tender offer to purchase 1.1 billion of Dell’s 1.76 billion shares outstanding, or 62 percent, at $14 apiece. The letter was followed by a statement by Icahn’s partner in his endeavors, Southeaster Asset Management, which indicated that it intends to sell around 72 million shares to Icahn. That would make him the largest single shareholder in the company, at 4.1 percent. Those announcements came after a letter to shareholders from Dell on Tuesdays morning urging them to approve the LBO during a special shareholder vote set for July 18, emphasizing once again the board’s contention that PC-related business is “shrinking faster than the new business is growing.”

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DELL

GlaxoSmithKline (NYSE:GSK): Current price $48.99

The United Kingdom drug firm said on Tuesday that South Africa’s Aspen Pharmacare had tendered an offer to purchase its thrombosis drug brands Arixtra and Fraxiparine, together with the related manufacturing site. GlaxoSmithKline said that the proposed disposal complemented its strategy of concentrating upon products having the heftiest growth potential and the delivery of its pipeline.

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GSK

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Zynga (NASDAQ:ZNGA): Current price $2.66

Zynga continues its shopping spree for talent in strategic areas such as social casino gaming, as it has acquired a 40-person team named Spooky Cool Labs, which is comprised of real-money gaming talent. The Spooky Cool Labs team is made up of experts from companies like Aristocrat, and slot machine makers such as IGT (International Game Technology) and WMS Gaming. Joe Kaminkow, who founded the firm, was ranked as one of the 10 most influential people in the history of slots by Strictly Slots Magazine.  The team will stay in Chicago and work with Zynga’s San Francisco-based social casino gaming team.

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ZNGA

The Carlyle Group (NYSE:CG): Current price $25.60

On Thursday, the world alternative asset manager said that a firm that is wholly owned by funds it manages will acquire Marelli Motori from Melrose Industries. The transaction will be carried out via the sale of Marelli Overseas Limited, the holding company of Marelli Motori, and should close in August. Funding for this investment will come from Carlyle Europe Partners III, a 5.3-billion Euro fund that makes mid- and large-capital investments. Marelli Motori was founded in 1891, and is one of the biggest makers of industrial generators and electric motors on the planet, serving global markets for marine, power generation, oil & gas, and industrial manufacturing.

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CG

Forest Laboratories (NYSE:FRX): Current price $40.21

Forest, which counts the investor Carl Icahn as a major shareholder, is among a few firms interested in bidding for Elan Corporation, according to two inside sources. Elan currently has a market capitalization of nearly $7 billion, and put itself on the block last week in an attempt to resist a hostile offer from the investment firm Royalty Pharma. The sources said on Wednesday that Forest is among a number of mid-sized drugmakers thinking of making for Elan.

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FRX

Fidelity National Financial (NYSE:FNF): Current price $22.55

Fidelity National said Thursday that it is exercising its option to modify the consideration mix in the previously reported purchase of Lender Processing Services, by upping the cash component of the total consideration by roughly $500 million, and correspondingly lowering the stock component of the total consideration by an equal amount. The firm will directly supply $300 million of the $500 million increase, with funds affiliated with Thomas H. Lee Partners providing the other $200 million.

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FNF

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Hess Corporation (NYSE:HES): Current price $64.02

Hess Corp and Newfield Exploration Co. have initiated two separate auctions to divest portions of their Asian oil and gas field interests having a combined value of roughly $3 billion, according to inside sources. As with several American energy firms, Hess and Newfield have been selling off aging and less productive oil and gas fields while investing back into more strategic and profitable projects, especially in and close to their home markets, impelled in part by activist shareholders. Their retreat has drawn interest from Asian state oil firms and others eager to reinforce their portfolios in the region.

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HES

Spreadtrum Communications (NASDAQ: SPRD): Current price $25.90

On Friday, Spreadtrum said that its board has received a preliminary non-binding proposal letter, dated June 20, from the operating subsidiary of Tsinghua Holdings Co., Tsinghua Unigroup, a solely state-owned limited liability corporation funded by Tsinghua University in China, through which Unigroup proposes to purchase Spreadtrum for $28.50 per American Depositary Share in cash (each American Depositary Share represents three ordinary shares of the Company). Spreadtrum’s board is reviewing and evaluating Unigroup’s proposal and cautions shareholders and others considering trading in its securities that it has just received the Unigroup proposal and has not yet made any decisions.

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SPRD

Intuit (NASDAQ:INTU): Current price $57.89

Intuit has bought Elastic Intelligence, whose team, which innovated the Connection Cloud, will join Intuit QuickBase. The Connection Cloud product was a breakthrough solution that facilitated access and data sharing in the cloud. The Intuit blogsite said that, “Through this acquisition, we’ll help solve a huge pain point: building applications that integrate and access data across multiple systems without having to custom code to increasingly fragmented APIs. The Elastic Intelligence team, led by industry luminary Roger Sippl, will bring their deep expertise in emerging cloud technology to the QuickBase team.”

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INTU

Rockwood Holdings (NYSE:ROC): Current price $62.73

Several inside sources say that Rockwood has canceled a combined auction of its titanium dioxide and performance additives units because no offer emerged equal to what the firm had hoped. The  chemicals maker had been in discussions with private equity firms to divest the assets for between $1.5 billion and $2 billion but then ended the process after it became obvious that such offers were unavailable.

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ROC

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