International Business Machines Corp.
) pays $46 per share of cloud HR software vendor Kenexa
) in a $1.3 billion deal that mirrors SAP and Oracle’s purchases of peers SuccessFactors and Taleo. The 42 percent premium paid on Kenexa’s Friday closing price may be an indication of the scope of growth that IBM sees in cloud application software, and its readiness, therefore, to muscle in on other IT giants’ turfs.
Wall Street is all praise for Navistar’s
) change of CEO – apparently Daniel Ustain will be replaced by Lewis Campbell with immediate effect, and the latter gets 500,000 options on Navistar’s common stock.
Buffalo-based, M&T Bank (NYSE:MTB) will acquire Hudson City Bancorp (NASDAQ:HCBK) for a combination of approximately 60% stock and 40% cash in a $3.7 billion deal that marks how regional banks are using takeovers as a means to ramp up growth. The deal pays a total value of 0.08403 M&T shares for each Hudson City share, or about $7.22 per share based on M&T’s Friday close. That represents a 12% premium to Hudson City’s Friday close of $6.44.
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