4 Merger and Acquisitions Stock Stories for Midweek

Citigroup (NYSE:C): Current price $51.01

Citi reported that its Brazil division has agreed to divest Credicard, its non-banking credit card and consumer finance unit, to the lender Banco Itau Unibanco. Financials of the transaction were not reported, but Citi expects that the deal will bring an after-tax gain of approximately $300 million, or 10 cents per share, at the close. The deal includes 96 Credicard stores and about $3.26 billion in consumer loan balances, as of Dec. 31st.

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C

Tidewater (NYSE:TDW): Current price $56.60

Through a wholly-owned subsidiary, Tidewater will acquire Troms Offshore Supply from HitecVision for about $395 million. The purchase will expand Tidewater’s worldwide footprint into the Norwegian sector of the North Sea, and enhance its experience and vessel fleet operating in harsh environments, like cold climates. The Troms Offshore-owned fleet should include five large, modern and technically-advanced deepwater Platform Supply Vessels at the close. Additionally, Troms Offshore has one more deepwater PSV under construction at the VARD Aukra yard in Møre og Romsdal, Norway, along with an option to build a seventh vessel.

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TDW

DeVry (NYSE:DV): Current price $30.27

The provider of educational services will acquire the privately-held Brazilian Faculdade Diferencial Integral located in the state of Piaui. Presently, Facid serves about 2,500 students at two campuses in the city of Teresina, and offers degree programs mostly in healthcare, including a Doctor of Medicine program. The transaction should close in early July; financial terms were not disclosed. The acquisition will become a part of DeVry Brasil, which now operates five institutions at nine campuses in northeast Brazil.

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DV

Chemtura Corporation (NYSE:CHMT): Current price $22.89

On Wednesday, Chemtura announced it had bought UP Chemical Co. Ltd.’s 50 percent interest in DayStarMaterials, which is a South Korean maker and marketer of high-purity metal organic precursors for the quickly-growing LED market. Chemtura now owns a 100 percent stake in DayStar, which will become part of Chemtura’s Organometallic Specialties unit and a key element in OMS’s strategy to develop a sustainable competitive advantage through technologically advanced products in emerging high-end, greener-application markets.

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CHMT

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