Mergers & Acquisitions: DryShips and Disney Making Purchases

DryShips (NASDAQ:DRYS) has made a deal to acquire OceanFreight (NASDAQ:OCNF) for $118 million in order to consolidate the cargo transporter’s fragmented drybulk business. OceanFreight has newer vessels with long-term charters in its fleet. OceanFreight shareholders will be paid $11.25 a share and 0.52326 shares of Ocean Rig UDW, a drilling service owned by DryShips, per OceanFreight share.

Disney (NYSE:DIS) has offered to buy the remaining 49.6% stake in UTV that it doesn’t already own for $454 million. UTV makes movies, operates TV channels, and produces video games in India.

Bancorp South (NYSE:BXS) reported second quarter EPS of 15 cents a share, beating estimates of 11 cents a share and putting it in good standing to be a “legitimate takeout candidate“.

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Royal Bank of Canada (NYSE:RY) may spend up to $1.06 billion USD, or $1 billion Canadian, to buy asset management firms to strengthen its overseas operations as part of the bank’s aim to triple profit from wealth management by 2015.

ACI Worldwide (NASDAQ:ACIW) has offered to buy all outstanding shares of S1 Corp. (NASDAQ:SONE) for roughly $540 million, or $9.50 a share, a 33% premium on the banking software provider’s closing stock price on Monday. Last month, S1 announced that it would acquire FundTech (NASDAQ:FNDT) in a $700 million deal.