Mergers and Acquisitions Recap: Microsoft’s Blockbuster Deal, Coca-Cola’s Hot List
Microsoft (NASDAQ:MSFT) makes a $300 million stake in Barnes & Noble’s (NYSE:BKS) Nook and College operations, and shares of the latter pop. The move appears to resolve patent lawsuits between the firms, with Barnes & Noble likely giving up on Android as its eReader operating system, according to 9to5mac.
Private equity firm Duke Street is said to have offered a ‘multibillion pound’ bid for Lloyds’ (NYSE:LYG) Scottish Widows, which is its life insurance, pensions and savings division. The bank is experiencing more and more demand for capital from regulators, as it’s 40 percent owned by the government. Its CEO rejected such a sale in 2011, but the new liabilities might change his mind.
Vulcan Materials (NYSE:VMC) gets serious about turning down the offer by Martin Marietta (NYSE:MLM), as the former sends letters to shareholders urging them to walk away from the latter’s $5 billion bid. Calling the offer “grossly inadequate”, Vulcan asks the investors to confirm its own board nominees at the June 1st annual meeting, and to reject MLM’s board picks.
Don’t Miss: Coca-Cola Denies Monster Rumors.
Monster Beverage (MNST) shares pop following a Wall Street Journal report that it might be on Coca-Cola’s (NYSE:KO) shopping list. Speculation has it that Coke might sell some of its bottling operations to finance the acquisition. Meanwhile, Monster shares’ uproar caused a temporary halting and resumption of early to midday trading, as it hit the circuit breakers. A bit later, Firstadopter commented that the happening might not happen, as Coca Cola mulls the high price.
Shares of Sunoco (NYSE:SUN) top the S&P gainers following news that the company was purchased by Energy Transfer Partners (NYSE:ETP). The latter is especially impressed by the former’s investments in Sunoco Logistics (NYSE:SXL) along with its network of refined product pipelines, terminals and trucks, and this acquisition will obtain it a general partner interest in that company. Though it is said that ETP is paying a large amount for this deal, KMI’s recent bid for EP cost more.
Don’t Miss: Delta’s Unprecedented New Deal.