Mergers and Acquisitions Recap: Google and Motorola Face a Roadblock, Micron Technology Goes Vulture
Google’s (NASDAQ:GOOG) purchase of Motorola Mobility (NYSE:MMI) has hit a roadblock with Chinese antitrust regulators, according to Motorola’s 8-K. The buyout already has U.S. and E.U. approval, but regulators in China are becoming more heavy handed when they examine mergers and acquisitions involving foreign companies, as was exhibited recently in the cases of Seagate (NASDAQ:STX) and Western Digital (NYSE:WDC). At any rate, Google and Motorola are still betting on resolution of the matter in the first half of the current year.
Investing Insights: Analyst Downgrades UPS on This Merger Hiccup.
Bankrupt DRAM maker Elpida Memory has a list of suitors, at the top of which is Micron Technology (NASDAQ:MU), bidding $1.5 billion for the company. Other likely buyers include Toshiba (TOSBF.PK) and Globalfoundries, according to DigiTimes.
Trying to make itself more attractive for purchase Restaurant chain Benihana (NASDAQ:BNHN), with Jeffries’ help, is evaluating a possible sale. Bloomberg reports that if it goes through, it would be the restaurant industry’s priciest takeover in excess of $200 million, since before 2009. Sweeteners in the deal include the fact that Benihana’s price is lower than most all comparables in the industry relative to cash flow, and the likelihood than new management could widen its margins.
A group of investors led by Vantage Point Capital Partners will buy SeaChange International’s (NASDAQ:SEAC) broadcast server and storage business. The company says the move is to help it concentrate on its core software and services operations.
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