4 Merger and Acquisitions Stock Stories Making Friday Headlines

Hess Corporation (NYSE:HES): Current price $63.93

Hess Corp and Newfield Exploration Co. have initiated two separate auctions to divest portions of their Asian oil and gas field interests having a combined value of roughly $3 billion, according to inside sources. As with several American energy firms, Hess and Newfield have been selling off aging and less productive oil and gas fields, while investing back into more strategic and profitable projects, especially in and close to their home markets, impelled in part by activist shareholders. Their retreat has drawn interest from Asian state oil firms and others eager to reinforce their portfolios in the region.

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HES

Spreadtrum Communications (NASDAQ: SPRD): Current price $26.09

On Friday, Spreadtrum said that its board has received a preliminary non-binding proposal letter, dated June 20, from the operating subsidiary of Tsinghua Holdings Co., Tsinghua Unigroup, a solely state-owned limited liability corporation funded by Tsinghua University in China, through which Unigroup proposes to purchase Spreadtrum for $28.50 per American Depositary Share in cash (each American Depositary Share represents three ordinary shares of the Company). Spreadtrum’s board is reviewing and evaluating Unigroup’s proposal and cautions shareholders and others considering trading in its securities that it has just received the Unigroup proposal, and has not yet made any decisions.

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SPRD

Intuit (NASDAQ:INTU): Current price $57.73

Intuit has bought Elastic Intelligence, whose team, which innovated the Connection Cloud, will join Intuit QuickBase. The Connection Cloud product was a breakthrough solution that facilitated access and data sharing in the cloud. The Intuit blogsite said that, “Through this acquisition, we’ll help solve a huge pain point: building applications that integrate and access data across multiple systems without having to custom code to increasingly fragmented APIs. The Elastic Intelligence team, led by industry luminary Roger Sippl, will bring their deep expertise in emerging cloud technology to the QuickBase team.”

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INTU

Rockwood Holdings (NYSE:ROC): Current price $62.80

Several inside sources say that Rockwood has canceled a combined auction of its titanium dioxide and performance additives units, because no offer emerged equal to what the firm had hoped. The  chemicals maker had been in discussions with private equity firms to divest the assets for between $1.5 billion and $2 billion but then ended the process after it became obvious that such offers were unavailable.

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ROC

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