4 Merger and Acquisitions Stock Stories for Friday Due Diligence

Verizon Communications (NYSE:VZ): Current price $53.46

The Wall Street Journal is reporting that Verizon Communications is eager to acquire Vodafone Group (NASDAQ:VOD) out of their hefty mobile-phone joint venture, but first it will have to avert the $30 billion difference in which parties on either side of the potential transaction opine that Vodafone’s 45 percent interest in Verizon Wireless is worth. The former begins at a valuation of roughly $100 billion, but for Vodafone the stake is worth around $130 billion, according to inside sources. This discrepancy regarding price is in the limelight now that Verizon has initiated a public effort to purchase the United Kingdom firm’s stake.

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VZ

The Carlyle Group (NYSE:CG): Current price $32.11

Since the withdrawal of two private-equity firms that were in discussions with Onex Corporation, including Carlyle Group and Kohlberg Kravis Roberts & Co., inside sources now say that hopes are lowered that a sale of Onex’s medical imaging company Carestream Health would bring the $3.5 billion that had once been projected. Bain Capital and Thomas H. Lee Partners are still in the running, Onex had been hoping to receive seven to eight times Carestream’s earnings before interest, taxes, depreciation and amortization, but it might now receive offers for up to six times, not valuing the company at more than $2.5 billion, reported the sources.

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CG

Archer Daniels Midland (NYSE:ADM): Current price $33.56

Following a six-month acquisition process, GrainCorp, the biggest crop handler in eastern Australia, has consented to an improved $3.1 billion takeover bid from Archer Daniels Midland. This latest offer marked the third since ADM’s initial approach back in October. ADM Chief Executive Patricia Woertz remarked that ”We are pleased to have reached agreement with GrainCorp to conduct due diligence and, subject to that due diligence, put a recommended offer before GrainCorp’s shareholders.”

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ADM

CNOOC Limited (NYSE: CEO): Current price $184.32

CNOOC has posted its key operational statistics for the first quarter, during which it reached a total net output of 93.6 million barrels of oil equivalent, representing 17.3 percent increase year-over-year, primarily thanks to the production contribution from its purchase of Nexen, new oil and gas projects on stream, and the resumption of Penglai 19-3 oil field and the overseas projects. Also during the quarter, the firm made four new finds and six successful appraisal wells offshore China.

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CEO

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