M&A Recap: Tivo Speculation, PepsiCo Drops Brazilian Company

Xstrata could have dealings with the European Commission as it investigates Glencore International Plc.’s proposed $35 billion acquisition of shares in the company that it does not own. This is despite a 2006 ruling that treated the firms as one for antitrust purposes, due to Glencore’s 34.4% stake in Xstrata.

Consolidated Communications (NASDAQ:CNSL) purchases SureWest Communications (NASDAQ:SURW) for $23 per share. This marks a 47.5% premium to Friday’s closing price.

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Fidelity National Financial (NYSE:FNF) agrees to acquire all outstanding common stock of dining chain O’Charley’s (NASDAQ:CHUX) for $9.85/share in cash. FNF owns a 9.5% stake in CHUX, which operates more than 340 full-service restaurants under the O’Charley’s, Ninety Nine and Stoney River concepts.

TiVo (NASDAQ:TIVO) is up over 5% premarket on a Barron’s weekend report. The report says Microsoft (NASDAQ:MSFT) or Google (NASDAQ:GOOG) could target the provider of digital-video recorders for acquisition. Software patent victories and advanced hardware also have made shares attractive again, the article says.

PepsiCo (NYSE:PEP) was rumored to be offering $320 million for Brazilian cookie maker, Marilan Alimentos. However, on account of tax issues and price differences, PEP pulled out of the deal, reports a Brazilian paper.

Express Scripts (NASDAQ:ESRX) and Medco (NYSE:MHS) shares are down due to a report that the Federal Trade Commission is gathering evidence to use in a bid to block a deal between the companies to merge; a final decision on whether or not to sue is expected by as late as early March.

Earnings Report: Coca-Cola Enterprises Inc. Fourth Quarter Earnings Sneak Peek.

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