4 Merger and Acquisitions Stock Stories Ready for Midweek Appraisal

Office Depot Inc. (NYSE:ODP): Current price $4.10

On Wednesday, Office Depot said that it will permit three executives nominated by its biggest shareholder Starboard Value LP to sit on its board of directors, averting a proxy solicitation by the activist investor hedge fund. Starboard Value has a 14.6-percent position in Office Depot and had at first nominated six members to the board, blaming a lack of experience among the current members.

However, just hours prior to its annual shareholders meeting, Office Depot released a statement saying that it had reached a resolution with Starboard as to the structure of the board.

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ODP 20130821

Lloyds Banking Group plc (NYSE:LYG): Current price $4.66

Lloyds will divest its German life insurance unit Heidelberger Lebensversicherung AG to a joint venture firm owned by Cinven Partners LLP and Hannover Rück SE, for a cash price of roughly €300 million, or around £250 million.

Heidelberger Leben is a specialist supplier of unit-linked pension, investment, and life assurance products in Germany. The senior management presently at the firm will move with the business at the completion of the sale, and the company will continue to service the Group’s policies in Germany and Austria written under the Clerical Medical brand through a long-term administration arrangement.

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LYG 20130821

BioReference Laboratories, Inc. (NASDAQ:BRLI): Current price $26.82

BioReference said Wednesday that its subsidiary will purchase Edge BioSystems CLIA laboratory business and related asset, which is primarily a genetic sequencing service business in Gaithersburg, Maryland.

GeneDx, which is BRLI’s wholly-owned clinical diagnostic sequencing laboratory, will buy the Edge BioServ genetic sequencing services unit, which service has been offered to a national list of customers. The transaction will include sequencing equipment and capabilities that should improve the ability of GeneDx to maintain and enhance its position as a premier provider of clinical genetic sequencing services.

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IDEXX Laboratories, Inc. (NASDAQ:IDXX): Current price $96.33

IDEXX announced Wednesday that it has bought all outstanding shares of Madasa do Brasil Ltda., which is based in São Paulo. Madasa is a distributor of IDEXX Dairy and bovine testing products, together with other food safety testing products.

All Madasa employees will be integrated into IDEXX and will continue operations in São Paulo. During the rest of the year, the acquisition should contribute around $2 million of revenue and have no financially material impact to earnings.

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IDXX 20130821

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