4 Mergers and Acquisitions Stock Stories for Midweek Due Diligence

Dell Inc. (NASDAQ:DELL): Current price $12.91

A source told Reuters that the private equity firm Silver Lake, which supports Michael’s Dell’s sweetened $24.6-billion bid for Dell Inc., will not go for an increase of the consortium’s offer up to $14 per share. Dell’s special board committee wants a minimum of $14 per share from the group in order to consider a potential change in the shareholder voting terms that Mr. Dell and Silver Lake have pushed for, according to another Reuters source. However, the first source indicated that Silver Lake will not back a $14 offer to obtain such a concession from the special committee. So far, there has been no comment on the matter from that company.

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DELL

HanesBrands Inc. (NYSE:HBI): Current price $57.58

The company said Wednesday that it will purchase Maidenform Brands Inc. at $23.50 per share, marking a 30 percent premium to the latter’s average close in the past 30 days. The all-cash transaction is forecast to deliver full benefits within three years of more than $500 million in incremental annual sales, 60 cents in earnings per share, $80 million of operating profit, and $65 million of free cash flow. After the acquisition closes, HanesBrands’s pro forma projected annual revenue should be in excess of $5 billion. The transaction is valued at roughly $575 million on an enterprise-value basis and is expected to close in the fourth quarter.

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HBI

FMC Corporation (NYSE:FMC): Current price $63.55

FMC said Wednesday that it has bought all the shares of Epax Nutra Holding III AS (Norway) and Epax UK Holding III AS, which makes high purity, premium grade Omega-3 fatty acid concentrates employed in nutraceuticals, pharmaceuticals, and food. Epax had formed a part of Trygg Pharma Group AS, an Omega-3 pharmaceutical firm. This purchase reinforces and expands FMC’s presence in the high-growth nutraceutical market.

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FMC

Illumina Inc. (NASDAQ:ILMN): Current price $81.57

Illumina announced Wednesday that it acquired Advanced Liquid Logic, which provides liquid handling solutions, and will now be a wholly-owned subsidiary of the buyer. The purchased firm has developed a proprietary digital microfluidics tech based on electrowetting, which precisely manipulates small droplets within a sealed disposable cartridge so as to perform complex laboratory protocols. This proven technology will permit Illumina to provide the simplest and most efficient sample-to-answer next-generation sequencing workflow.

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ILMN

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