Mergers and Acquisitions Recap: Coke Smashes Rumors, P.F. Chang’s China Bistro May Go Private
Imperial Sugar (NASDAQ:IPSU) is acquired by private equity Louis Dreyfus Commodities, in an all cash transaction with a price of $205 million, which represents a share price of $6.35. This figure is a 75 percent windfall to Monday’s closing price for Imperial. The sale is expected to close in the second quarter.
It’s expected that Centerbridge Partners will buy (and take private) P.F. Chang’s China Bistro (NASDAQ:PFCB), at $51.50 per share, which represents a 29.8 percent premium. However, the deal’s terms allow the restaurant chain 30 calendar days to seek a superior offer. PFCB shares were halted, then resumed trading, after which they proceeded to pop. Possible sympathy reactions from Red Robin Gourmet Burgers (NASDAQ:RRGB), Bob Evans Farms (NASDAQ:BOBE), Jack-In-The-Box (NASDAQ:JACK), Cracker Barrel Old Company (NASDAQ:CBRL), and BJ’s Restaurants (NASDAQ:BJRI), are not out of the question.
Don’t Miss: Coca-Cola Denies Monster Rumors.
Here is more on the Coca Cola (NYSE:KO) and Monster Beverage (MNST) acquisition-NOT saga: shares of the latter trade higher Tuesday, following all the chatter that it would be purchased by Coke, which definitively denied being in such discussions. However, now comes more talk from sources, who say that KO is paring its words about not being interested in the deal.
Asia Tone, which is a data center operator based in Hong Kong, has sold ive data centers and a disaster recovery center, to Equinix (NASDAQ:EQIX) for $230.5 million in cash. The latter reports that it will also buy a data center that is under construction in Shanghai, as a part of its current Asia-Pac growth program. It’s projected that the purchased operations will become accretive next year.
The Washington Post (NYSE:WPO) is said to be buying the tech team of Digg, but not the actual company. Digg is an online content collector firm, whose founder Kevin Rose recently departed for Google. The Digg tech acquisitions are expected to help the Post reinforce its social media operation, as it benefits from a major traffic increase after its adoption of Facebook’s (FB) Open Graph.
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