4 Mergers and Acquisitions Stock Stories for Tuesday Due Diligence

Royal Bank of Scotland Group (NYSE:RBS): Current price $10.67

W&G Investments PLC on Tuesday extended an offer of as much as 1.5 billion pounds for 316 Royal Bank of Scotland branches that the latter must divest under European Union rules following its government bailout. W&G Investments is fronted by former Tesco Bank Chairman Andrew Higginson, and the firm is offering a 1.1 billion pound upfront payment plus a further 400 million pounds in additional payments calculated upon the manner in which the branches perform, according to a spokesman for the group.

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RBS 20130820

RigNet Inc. (NASDAQ: RNET): Current price $32.61

Global investment firm Kohlberg Kravis Roberts & Co. LP said Tuesday that funds that it advised or controlled are buying a significant minority interest in RigNet from investment firm Cubera, which specializes in the Nordic private equity market. Upon the close of the purchase of 4.75 million shares, which is subject to the usual approvals, KKR will become RigNet’s  No. 1 shareholder, holding a 27 percent stake in the firm.

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RNET 20130820

Blackstone Group LP (NYSE:BX): Current price $21.80

Two sources told Bloomberg that Blackstone will divest its 50 percent interest in London’s Broadgate office complex for more than 1.7 billion pounds. A sovereign wealth fund is under contract to purchase the interest, according to Bloomberg’s sources, who also said that Norway’s government wealth fund, which had been in discussions to buy the stake, is not the purchaser. Blackstone agreed not to sell its stake for three years after acquiring it in a 2009 transaction that valued the entire complex at 2.1 billion pounds.

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BX 20130820

Teledyne Technologies Inc. (NYSE:TDY): Current price $80.29

Teledyne Technologies said Tuesday that its subsidiary, Teledyne Instrument  Inc., will acquire assets of SD Acquisition Inc. CETAC Technologies, with headquarters in Omaha, Nebraska, designs and manufactures automated sample handling and sample introduction equipment for laboratory instrumentation. Terms of the transaction were  not reported, but the close should occur August 30.

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TDY 20130820

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