3 Merger and Acquisitions Stock Stories For Friday Diligence

Morgan Stanley (NYSE:MS): Current price $21.82

The buyout company Apax Partners and Morgan Stanley’s private equity unit are examining a sale of the insurance brokerage Hub International that could be valued at roughly $2 billion, according to two inside sources reporting this week. A potential sale of Hub would be six years after Apax and Morgan Stanley Principal Investments took it private for $1.8 billion, including $145 million of debt.

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MS

Life Technologies Corporation (NASDAQ:LIFE): Current price $68

Knowledgeable sources say that Life Technologies received takeover bids from a private-equity group including Blackstone, and from Thermo Fisher Scientific, for as much as $11.8 billion. The offers came in at $66 to $69 per share, said two of the people, and one source said that Life could pick a buyer as early as next week or decide against a sale, adding that Thermo Fisher can probably take out $300 million to $400 million in costs, the deal would be immediately accretive, and the firm’s shareholders are supportive of a deal.

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LIFE

M&T Bank Corporation (NYSE:MTB): Current price $100.14

On Friday, M&T and Hudson City Bancorp (NASDAQ: HCBK) announced that additional time will likely be needed to obtain a regulatory determination on the applications necessary to finalize their proposed merger. M&T filed its regulatory applications with its regulators in September, 2012, and has learned that the Federal Reserve has identified certain regulatory problems with the firm’s procedures, systems and processes relating to its Bank Secrecy Act and anti-money-laundering compliance program. M&T has already begun a major initiative, including recruiting an outside consulting firm, intended to fully address the Federal Reserve’s worries.

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MTB

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