4 Merger and Acquisitions Stock Stories Ready for a Tuesday Appraisal
Perfect World Co. Ltd. (NASDAQ:PWRD): Current price $18.00
The online game developer and operator based in China, Perfect World on Tuesday said that it will acquire a 100 percent equity interest in Wuhu Huitian Shengshi Network Technology Co. for roughly $41.8 million and a minority equity interest in Beijing Shouyou Daqu Technology Co., Ltd. from Beijing Huitian Shengshi Technology Co. for approximately $6.56 million. Wuhu Huitian and Daqu manage TGBus.com and PTBus.com, which are two Chinese gaming portals, respectively. Before Perfect World’s investments, Wuhu Huitian and Beijing Huitian were ultimately controlled by an individual not related to Perfect World. The close of the transactions in these agreements is subject to the satisfaction of the usual closing conditions.
Team Health Holdings Inc. (NYSE:TMH): Current price $45.77
The provider of outsourced physician staffing solutions for hospitals, Team Health Holdings, announced its acquisition of the operations of Wolverine Anesthesia Consultants. The latter’s more than 60 physicians and certified registered nurse anesthetists supply care for over 33,000 patients yearly through anesthesia management services for three hospitals and one ambulatory surgery center: Dr. P. Phillips Hospital, Orlando Regional Medical Center, MD Anderson Cancer Center, and Orlando Regional Ambulatory Care Center. Terms of the transaction were not mentioned in the release.
Heartland Express Inc. (NASDAQ:HTLD): Current price $17.86
On Tuesday, Heartland Express said that it has purchased 100 percent of the stock of Gordon Trucking, Inc. and certain associated assets in transactions valued at roughly $300 million. With aggregated total revenue of around $1 billion, and a terminal network covering from Washington to Florida and from Pennsylvania to Southern California, Heartland estimates the combined entities will operate the fifth biggest asset-based truckload fleet in North America.
Vale SA (NYSE:VALE): Current price $15.39
The number-one iron ore exporter on the planet has sold its interest in the aluminum-maker Norsk Hydro ASA for $1.8 billion, which represents about half the holding’s value when the Brazilian firm bought it in 2011. Vale said that it sold 407.1 million shares in Oslo-based Hydro at $4.03 each. Should an over-allotment option of 40.7 million shares be exercised in full, Vale will have disposed of its entire 22-percent interest for $1.82 billion.