Revlon and 15 Stocks Making Deal Buzz This Week

Here’s your Cheat Sheet to this week’s top mergers and acquisition news:

JPMorgan Chase & Co. (NYSE:JMP): Current price $54.37

According to The Times of London, the commodities broker Marex Spectron is in discussions to acquire the metals storage division owned by JPMorgan. Marex is supported by Jeremy Isaacs, who is the former chief of Lehman Brothers Europe. JP Morgan’s warehousing business is the U.K.-based logistics provider Henry Bath. JPMorgan Chase did not comment on the report, but said in July that it would seek “strategic alternatives” for its gas, physical oil, power, and metals trading arm, during a crackdown by American regulators on banks owning commodities storage.

JPMorgan and UBS announced Tuesday that the former has purchased UBS’s over-the-counter business in commodity derivatives, Reuters reports. The deal did not involve precious metals and index-based trades but did include hedge positions on financial exchanges, according to a UBS statement. In October, UBS said it was closing most of its commodities “flow” trading arm involving raw materials and financial derivatives as part of a trim-down in which it pulled back from large parts of fixed income and laid off some 10,000 employees. Financials of the transaction were not released.

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JPM 20130810

ING Groep (NYSE:ING): Current price $11.45

The private equity firm MBK Partners is in exclusive talks to acquire a controlling interest in ING Groep’s South Korean insurance business, said a source familiar with the matter on Monday. ING’s South Korean division attracted a total of four offers in May, including those from Tong Yang Life Insurance Co Ltd., Hanwha Life Insurance Co Ltd., and Kyobo Life Insurance Co Ltd., according to sources in a report by Reuters. ING and MBK will commence negotiations based on MBK’s original offer of roughly $1.3 to 1.4 billion for a 90 percent stake in the business, but the final pricing and stake size might change, said the first source.

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ING 20130810

Revlon, Inc. (NYSE:REV): Current price $25.59

On Monday, Revlon said that its wholly-owned operating subsidiary, Revlon Consumer Products Corporation, together with its subsidiaries, will acquire the entirety of the stock of The Colomer Group, a privately-held beauty care firm concentrated on the professional salon channel. The transaction should close in the fourth quarter, subject to the usual conditions and regulatory approvals. The cash purchase price of $660 million is subject to adjustments through the closing date.

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REV 20130810

Edison International (NYSE:EIX): Current price $49.25

Edison said Monday that it has finalized the purchase of SoCore Energy, LLC. The latter, based in Chicago, is a distributed solar developer focused on commercial rooftop installations. Financials of the transaction were not reported. SoCore will become a wholly-owned indirect subsidiary of the buyer, and its management team, employees, and operations will continue to be based in Chicago.

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EIX 20130810

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Valeant Pharmaceuticals International Inc. (NYSE:VRX): Current price $101.87

Valeant said Tuesday that it finalized its previously announced acquisition of Bausch + Lomb Holdings Inc. The latter is a top global eye health firm that holds a broad portfolio of eye health products, among which include prescription and over-the-counter brands Lotemax, Besivance, Ocuvite, and PreserVision; vision care brands PureVision, Biotrue ONEday, Renu, and Boston; and surgical brands enVista, Storz, Stellaris, and VICTUS.

The number-one publicly traded drug maker in Canada continues to mention a potential “merger of equals,” and also expects to be active for the rest of they year with smaller purchases, said Chief Executive Michael Pearson. During a conference call to discuss second-quarter results, Pearson observed that accomplishing a merger of equals “can’t be predicted.”

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VRX 20130810

3D Systems Corp. (NYSE:DDD): Current price $47.40

3D said Tuesday that it purchased the cloud-based collaborative design and project management platform TeamPlatform. The company plans to immediately join the TeamPlatform tech into both its professional and consumer offerings, which include Geomagic Solutions and Cubify.com. TeamPlatform says it permits product design, engineering services, and manufacturing firms to easily oversee hundreds of small or large projects with masses of data being shared and used at the same time.

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DDD 20130810

The Mosaic Co. (NYSE:MOS): Current price $42.69

Mosaic announced it has reached a shareholders’ agreement with Saudi Arabian Mining Co. (Ma’aden) and Saudi Basic Industries Corp. through which to participate in integrated phosphate output facilities in Saudi Arabia. The parties have been working toward the accord since an agreement was signed in March. Ma’aden, Mosaic, and SABIC will own 60, 25, and 15 percent of the joint venture, respectively. The estimated $7 billion greenfield project, to be called Wa’ad Al Shamal, or Northern Promise Phosphate Project, will be constructed in the northern region of Saudi Arabia at Wa’ad Al-Shammal Minerals Industrial City, as well as in Ras Al Khair Minerals Industrial City, which is on the east coast of Saudi Arabia.

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MOS 20130810

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Nokia Corp. (NYSE:NOK): Current price $4.17

Nokia announced Wednesday that it has completed its purchase of Siemens’ interest in Nokia Siemens Networks. The proposed deal was initially announced on July 1. Pursuant to the terms of the transaction, the Siemens name is being transitioned out from Nokia Siemens Networks’ name and branding. The new name and brand is Nokia Solutions and Networks, also known as NSN, which will be employed for financial reporting purposes as well. Nokia Solutions and Networks is wholly owned by Nokia and will continue to be consolidated.

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NOK 20130810

Wal-Mart Stores Inc. (NYSE:WMT): Current price $76.78

The retailing behemoth is mulling an offer for the Hong Kong supermarket business being divested by a firm controlled by Asia’s richest man Li Ka-shing, said inside sources to Reuters. Li’s Hutchison Whampoa Ltd. conglomerate has placed an August 16 deadline for initial bids for ParknShop, which it values at up to $4 billion, enticing interest from corporate and private-equity buyers. Meanwhile, Wal-Mart is said to be collaborating with a bank as it explores its options for ParknShop prior to next week’s preliminary bid deadline, according to the sources. Wal-Mart declined comment.

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WMT 20130810

Swift Transportation Co. (NYSE:SWFT): Current price $18.32

On Wednesday, Swift Transportation said that it has acquired the privately-held Central Refrigerated Transportation, Inc., which provides refrigerated trucking services, in a transaction of$225 million, including roughly $189 million in cash and $36 million of assumed capital lease obligations along with other financial debt. The transaction should be immediately accretive to net earnings per diluted share before the consideration of synergies and is expected to raise Swift’s full year 2013 adjusted earnings by approximately 10 cents per share, excluding one-time transaction costs.

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SWFT 20130810

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ConocoPhillips (NYSE:COP): Current price $66.70

On Thursday, ConocoPhillips said that it will divest its 100-percent stake in the Clyden oil sands leasehold to Imperial Oil and ExxonMobil Canada — in return for roughly $720 million before the usual adjustments. Comprising 226,000 net acres of undeveloped land, Clyden lies close to the southern edge of the Athabasca oil sands and south of Fort McMurray, Alberta. Executive Vice President, Commercial, Business Development, and Corporate Planning Don Wallette observed that, “This transaction is a significant step toward rebalancing our world-class oil sands portfolio. We are pleased Imperial Oil and ExxonMobil Canada recognize the value of the Clyden asset.”

ConocoPhillips intends to record an after-tax gain of around $450 million, which will be recognized upon the close, which is expected later in the third quarter. Closing is contingent upon approval by the Competition Bureau.

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COP 20130810

Dollar General Corp. (NYSE:DG): Current price $54.40

Shares of both Dollar General and Family Dollar Stores Inc. (NYSE: FDO) are up modestly Thursday while analysts comment on a probable deal in the offing. Analyst Edward Kelly at Credit Suisse said that a DG and FDO fusion makes “compelling  strategic sense,” and thinks that Dollar General could pay between $90 and $100 per share for Family Dollar if FTC approval is given. This share range comes to a 30- to 40-percent premium above Family Dollar’s current share price around $72. Kelly says that such a deal could create a dominate retailer through lowered competition and a step towards a more proactive management style.

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DG 20130810

Sanchez Energy Corp. (NYSE:SN): Current price $22.17

Sanchez announced Thursday that it will acquire around 40,000 net undeveloped acres in the core of the Tuscaloosa Marine Shale trend for cash and shares of its common stock, plus an initial 3-well drilling carry. Total money involved in the transactions will be roughly $78 million, comprised of $70 million of cash and 342,760 shares of common stock, which are valued at about $8.2 million, based on the close as of August 7. Sanchez is a quickly-growing independent oil and gas firm that targets the onshore United States Gulf Coast oil resource plays, having a current focus on the Eagle Ford Shale.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

SN 20130810

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BlackBerry Ltd. (NASDAQ:BBRY): Current price $9.76

A number of inside sources report Friday that BlackBerry is inching closer to the idea of going private as the company maker endeavors to revive its fortunes, while Chief Executive Thorsten Heins and the board are increasingly coming to the conclusion that taking BlackBerry private would afford them time to repair its problems out of public scrutiny. On Thursday, one source ventured that “there is a change of tone on the board.” However, other persons said that no deal is imminent and that BlackBerry has not begun any sort of sale process.

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BBRY 20130810

NII Holdings, Inc. (NASDAQ:NIHD): Current price $6.54

On Friday, NII said it will divest some 2,790 towers in Brazil and 1,666 towers in Mexico to American Tower Corporation in two separate deals for aggregated estimated proceeds calculated upon current foreign currency exchange rates of $413 million and $398 million, respectively. Both Nextel Brazil and Nextel Mexico agreed to lease back the towers from American Tower for a minimum 12-year initial lease term and may extend the lease for additional renewal periods. NII International Telecom S.C.A., which is a subsidiary of NII based in Luxembourg, will supply certain credit support concerning the obligations of Nextel Brazil. NII provides differentiated mobile communication services operating through the Nextel brand in Latin America.

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NIHD 20130810

Real Goods Solar, Inc. (NASDAQ:RSOL): Current price $2.29

Real Goods Solar will purchase Mercury Energy, Inc. d/b/a Mercury Solar Systems in a merger agreement. The buyer will issue 7.9 million shares of its class A common stock, subject to certain adjustments based on closing working capital and the price of the class A common stock, as the consideration for the purchase of Mercury. The transaction is subject to being approved by the shareholders of each of Real Goods Solar and Mercury. Real Goods Solar is a nationwide creator of turnkey solar energy solutions for residential, commercial, and utility customers.

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RSOL 20130810

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