4 Merger and Acquisitions Stock Stories for Wednesday Due Diligence

Ocwen Financial Corporation (NYSE:OCN): Current price $36.07

The financial services holding firm announced Wednesday that it has finalized its acquisition of Liberty Home Equity Solutions from Genworth Financial. Liberty will continue to offer reverse mortgages through direct, wholesale and correspondent channels. Ocwen Chief Executive Ronald M. Faris commented that ”liberty is the industry leader in helping seniors secure their retirement with strong customer-service and superior quality. We believe this promising market offers enormous long-term growth potential, and this purchase positions Ocwen to capture that growth.”

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OCN

HSBC Holdings (NYSE:HBC): Current price $53.00

HSBC will divest its insurance units in Singapore, in a transaction valued at roughly $19.3 million, as part of its cost-reduction strategy of offloading non-core assets. The company said that its insurance unit in the city-state will sell the life insurance and medical insurance portfolios to AXA Life Insurance Singapore, which is that country’s number-two general insurer by revenue, according to AXA. The transaction should closed sometime in 2013.

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HBC

BP (NYSE:BP): Current price $41.96

The petro-giant has put its United States wind farm operation on the block, marking the continued pullback of oil majors from renewable energy investments, as oil and gas projects offer them better returns. BP has already divested or earmarked for sale about $38 billion worth of assets, in part to raise funds to pay for its 2010 Gulf oil spill liabilities, but to reposition itself as a smaller, leaner company as well, with a concentration on high-margin oil output and exploration. Reports indicate that the sale could bring a further $1.5 billion.

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BP

AmerisourceBergen (NYSE:ABC): Current price $51.52

The firm will divest its contract packaging unit, AndersonBrecon, to an entity formed by affiliates of an investor group headed by Frazier Healthcare VI for the purpose of buying AndersonBrecon. The purchase price for the cash transaction is $308 million, subject to the usual adjustments for, among other things, the working capital of the business. The transaction should close in the third quarter of fiscal 2013, which ends June 30.

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ABC

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