3 Merger and Acquisitions Stock Stories for Monday Due Diligence

Saks Inc. (NYSE:SKS): Current price $15.89

The Toronto-traded Hudson’s Bay Company will acquire the iconic retailer Saks in a transaction worth close to $3 billion, including debt. The buyer already owns Lord & Taylor and a network of Hudson’s Bay department stores throughout Canada, and this purchase will have the group managing 320 stores in the United Satets and Canada. Hudson Bay Chairman and Chief Executive Richard Baker said in a written statement, that ”This exciting portfolio of three iconic brands creates one of North America’s premier fashion retailers. With the addition of Saks, HBC will offer consumers an unprecedented range of retailing categories and shopping experiences.”

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Penske Automotive Group, Inc. (NYSE:PAG): Current price $34.99

The global automotive retailer said Monday that it will acquire the distributor of commercial vehicles, linked spare parts, and aftermarket support Western Star Trucks Australia, spanning Australia and New Zealand, and portions of Southeast Asia, from Transpacific Industries Group Limited. The business mostly distributes heavy and medium-duty trucks for Western Star, MAN, and Dennis Eagle through a network of more than 80 independent dealers, while serving customers through several industries, including construction, on-highway, logistics, mining, manufacturing, and agricultural and waste/refuse collection.

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Cellcom Israel Ltd. (NYSE:CEL): Current price $11.33

Sources to Globes say that the French communications magnate Xavier Niel, who holds 30 percent of Golan Telecom Ltd. along with controlling shareholder Michael Golan, have gotten a proposal to purchase control in the mobile operator Cellcom Israel, which they are already considering, and that the offer was likely made through the investment bank Lazard. IDB Holding Corp. Ltd., controlled by the controlling shareholder in Cellcom Nochi Dankner, refuted the idea that the mobile operator is on the block, but a senior source close to Niel and Golan confirmed that an offer to acquire the firm has been made to them, and that they are seriously thinking about it.

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