4 Merger and Acquisition Stock Stories for Savvy Investors
Texas Instruments (NYSE:TXN): Current price $32.83
Both Texas Instruments and Globalfoundries have made offers to purchase a portion of the equipment installed at the DRAM maker Powerchip Technology’s P3 12-inch facility, which lends a lack of clarity to the outcome of the sale, according to industry sources. The seller decided to tear down its P3 12-inch fab by divesting the production equipment and land separately, and is said to have approached several Taiwan-based niche market memory suppliers, including Elite Semiconductor Memory Technology, Etron Technology, Winbond Electronics and Zentel Electronics, to make their offers to take over the facilities.
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Danaher Corporation (NYSE:DHR): Current price $60.12
The fleet and asset management tech provider Navman Wireless has been purchased by Danaher and will function as a standalone Danaher operating company, keeping the Navman Wireless brand along with its personnel and locations. Financials of the transaction were not reported.
Intuit (NASDAQ:INTU): Current price $63.38
The Facebook eCommerce platform Payvment has sold its team, tech, and patents to Intuit, which commented to TechCrunch that, “Intuit has acquired a team of highly skilled developers who will be of great value to the social teams at Intuit.” It appears that Payvment will shut down its operations on February 28th.
Somerset Hills Bancorp (NASDAQ:SOMH): Current price $11.45
Somerset Hill Bancorp will be merged with and into Lakeland Bancorp, with Lakeland Bancorp as the surviving bank holding firm. Shareholders of Somerset Hills Bancorp will receive, if they wish, for each outstanding share of common stock that they hold at the effective time of the merger, either 1.1962 shares of Lakeland Bancorp common stock or $12 in cash, so that 90 percent of the aggregate merger consideration will be shares of Lakeland Bancorp common stock and 10 percent will be cash.
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