Mergers and Acquisition Recap: Vodafone Deal with Cable and Wireless PUSHES ON, Facebook GROOVES
Vodafone’s (NASDAQ:VOD) $1.6 billion acquisition of Cable & Wireless Worldwide is given the green light to continue, following the latter’s largest shareholder, institutional investor Orbis, dropping its rejection of the deal. The reversal was gained by word that 59 percent of C&WW’s shares had already supported the takeover.
Qualcomm (NASDAQ:QCOM) announces that it will purchase Summit Microelectronics, which is a specialist in producing the power management chips which are used in mobile devices. Financials of the deal were not divulged.
Deutsche Boerse (DBOEY.PK) has requested that an European Union tribunal throw out the European Commission’s ban on the exchange’s $9.5 billion merger with NYSE Euronext (NYSE:NYX). The German exchange maintains that regulators made errors when they disallowed the deal, and if successful before the court, the Commission’s ruling could be reversed or a reassessment could be requested.
Facebook (NASDAQ:FB) shares move up substantially on Monday, following word that it has purchased Face.com. The likely objects of interest in the acquisition were the latter’s Photo Tagger facial-recognition app, which can be applied to the billions of pictures being uploaded by Facebook users, and its valuable domain name. A rumor floating around in May gives an approximation of the value of the deal, as between $80 million and $100 million. Shares of Yandex (NASDAQ:YNDX), which has an investment in Face.com., are moving up in tandem.
Shares of Quest Software (NASDAQ:QSFT) have suddenly spiked , subsequent to a Bloomberg report that Dell’s (NASDAQ:DELL) reported bid of $25.50 for the company, has been bettered by an offer by Insight Venture. It had earlier been said by Quest that Insight maintained “certain matching rights” related to third-party offers.
Don’t Miss: Facebook is ADDICTED to Buying.
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