3 Merger and Acquisitions Stock Stories for Savvy Weekend Investment Reading
Kohlberg Kravis Roberts & Co. (NYSE:KKR): Current price $20.81
It has been confirmed that Panasonic Corp. is divesting its health-care business to KKR & Co. for roughly $1.5 billion Friday, according to two knowledgeable sources. The Japanese electronics firm will sell some 80 percent of Panasonic Healthcare Co. to the private equity firm, and retain 20 percent, said the sources. Panasonic Healthcare, which supplies digital medical record systems and manufactures instruments that measure blood glucose, will be KKR’s largest acquisition in Japan, according to data compiled by Bloomberg. Panasonic is selling control of the division as it centers upon a 250 billion-yen plan to rebound from losses at its electronics business during the next two years.
RDA Microelectronics Inc. (NASDAQ:RDA): Current price $15.51
On Friday, RDA announced that its board has received an unsolicited, preliminary non-binding proposal letter dated September 27 from Shanghai Pudong Science and Technology Investment Co., Ltd., a wholly government-owned limited liability firm directly under Pudong New Area government of Shanghai. Through which, PDSTI proposes to buy all of the outstanding ordinary shares and American Depositary Shares of RDA, in each case other than those shares or ADSs owned by PDSTI and its affiliates, for $2.5833 in cash per share or $15.50 per ADS. RDA is a fabless semiconductor firm that designs, develops, and markets wireless systems-on-chip and radio-frequency semiconductors for cellular, connectivity, and broadcast applications.
Cerner Corp. (NASDAQ:CERN): Current price $52.36
Intermountain Healthcare and Cerner Corp. are reporting a multi-year strategic partnership that will draw upon Intermountain’s pioneering leadership in quality improvement and data analytics, and Cerner’s expertise in information technologies. The multi-year partnership will implement the Cerner electronic medical record and revenue cycle solutions spanning all of Intermountain’s hospitals and clinics. President and Chief Executive of Intermountain Charles Sorenson, MD, observed that, “This alliance will help Intermountain to continue its focus on providing high quality care. It will help us prepare for a future where we must focus even more on providing the best possible care for our patients at a cost that is sustainable.”