Humana Buys Metropolitan Health, Stifel Purchases KBW: Merger and Acquisitions Review

Humana (NYSE:HUM) will purchase Metropolitan Health Networks (AMEX:MDF) for $850 million plus transaction costs. The $11.25 per share bid represents a bonus of 3.7 percent over Metropolitan’s Friday close of $10.85, when it had a market cap of $480.3 million. The buyer will also repay Metropolitan’s debt.

Stifel Financial Corporation (NYSE:SF) acquires KBW, Inc. for $17.50 per share, which breaks down to $10 cash and $7.50 in SF stock. The total amount involved exceeds $575 million and approximately $250 million in excess capital on KBW’s balance sheet will become available to Stifel at closing.

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Equal Energy (NYSE:EQU) divests its Lochend Cardium assets for $62 million. These assets include current output of around 525 barrels of energy equivalent per day, of which 93 percent is light oil, related infrastructure, and undeveloped land. The seller will use the proceeds to fully repay its credit facility and calculates that it will retain about $10 million in cash following the repayment.

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