M&A Roundup: Shanda Interactive Takeover Bid, Biogen Acquires Stromedix

Capital One Financial’s (NYSE:COF) proposed a $9 billion acquisition of ING’s (NYSE:ING) United States online bank. The Federal Reserve considered the deal yesterday and promised a decision soon, though this is the second delay within a week. It’s the first market and analysis the Federal Reserve is looking at under new Dodd-Frank rules.

Investing Insights: Stifel Confident in Capital One Deal, MEMC a Sell at $3 Target, Rackspace at Outperform.

Biogen (NASDAQ:BIIB) agrees to acquire Stromedix. It is a privately-held developer of treatments for fibrosis and organ failure. The acquisition is for $75 million in cash and potential additional payments of up to $487.5 million. Stromedix’s most advanced candidate, STX-100, is a monoclonal antibody that has shown promise in early stage trials to treat fibrosis.

Valspar (NYSE:VAL) shares hit an all-time high after the paint maker raises its 2012 profit forecast.  It will continue to hike prices to offset rising raw materials costs. CEO Gary Hendrickson also rules the company out of bidding for the $3 billion coatings business DuPont (NYSE:DD) is looking to sell.

Shanda Interactive (NASDAQ:SNDA) shareholders vote to back a takeover bid.  The Chief Executive Officer valued the Chinese online game developer at around $2.3 billion. With all closing conditions in the agreement now satisfied, Shanda says the parties expect to complete the deal as soon as possible.

Don’t Miss: U.S., EU Approve Google’s Acquisition of Motorola Mobility.

To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com