4 Merger and Acquisitions Stock Stories for Thursday Due Diligence

BHP Billiton Ltd. (NYSE:BHP): Current price $64.63

This week, BHP Billiton said that it has renewed a commitment to building its own potash mine, which dims the prospect of the firm taking over Mosaic Co. BHP now intends to see the Jansen potash project through to the output stage as it spends $2.6 billion and searches out partners — thus putting an end to chatter that the world’s number-one mining company might still consider an acquisition of the fertilizer maker Mosaic. The later’s enterprise value has fallen to $14.8 billion, which roughly equals the estimated cost of constructing Jansen, its first potash mine.

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BHP 20130822

Onyx Pharmaceuticals Inc. (NASDAQ:ONXX): Current price $117.23

Three knowledgeable sources say that Onyx has given potential suitors, including Amgen Inc., access to trial data on its new cancer drug, removing a crucial hurdle that was delayed deal talks.

The firm’s attempt to sell itself for approximately $9.5 billion ran into an impasse in recent weeks after the lead bidder Amgen requested trial data concerning its blood cancer drug Kyprolis, something that Onyx was reluctant to share, said Reuters last week. Onyx has now made more data available to Amgen and other parties involved in the sale process and is now awaiting a firm bid, according to the sources on Wednesday.

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Dole Food Co. Inc. (NYSE:DOLE): Current price $13.77

Shares of Dole are still up on Thursday after the company said that there are other parties who might be interested in beating Chairman David Murdock’s $13.50 buyout bid. This information was contained in Dole’s preliminary proxy and it moved the shares up to a $13.71 close on Wednesday.

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Cenveo, Inc. (NYSE:CVO): Current price $2.97

Cenveo said Thursday that it will acquire most all of the operating assets of National Envelope. Connected with Cenveo’s deal, Hilco Receivables will purchase substantially all the accounts receivable and Southern Paper will buy the firm’s inventory. Cenveo’s purchase price should be comprised of roughly $20 million in cash and $5 million of Cenveo common stock. The transaction closing is subject to bankruptcy court approval and the usual closing conditions.

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CVO 20130822

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