17 Stocks Making Big M&A News and Rumors This Week

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

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ConocoPhillips (NYSE:COP): Current price $57.44

Oando Energy Resources, which is concentrated upon Nigeria, faces a funding shortfall as it tries to conclude a planned $1.79 billion purchase of ConocoPhillips’s Nigerian assets, according to a financial statement on the company’s website. International majors, such as Royal Dutch Shell and Total, have in recent years attempted to divest off some of their older Nigerian assets, with ambitious local players proving to be eager buyers. Grabbing ConocoPhillips’s Nigerian fields in December seemed to be a major play for Oando, the Toronto-listed subsidiary of a Nigerian energy company, but borrowing more money to finance the deal might negatively impact its finances, it warned, putting a damper on its ability to see through the purchase. Oando has already raised several loans to fund a $435 million deposit to the energy giant and reported that it plans to issue a mix of shares and debt to complete the takeover, even as its accounts indicated it lost $284 million in 2012.

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DISH Network (NASDAQ: DISH): Current price $38.99

It was reported on Friday afternoon that Chief Executive Charlie Ergen might have informally approached Deutsche Telekom in regards to a possible merger with T-Mobile USA. The proposal was made sometime before April 10, the day Deutsche Telekom sweetened its offer for MetroPCS (NYSE:PCS). For a while, Ergen has attempted to get DISH in the wireless game, aiming to work with Sprint on previous occasions and also trying to get FCC approval of certain spectrum bands which could carry wireless signals. For its part, Deutsche Telekom replied that it might consider DISH’s proposal after T-Mobile/MetroPCS deal closes and also affirming that a separate deal with Sprint can not be done.

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Schlumberger Limited (NYSE:SLB): Current price $69.79

On Friday, Forest Oil Corp.  said that it signed a deal with the oilfield services giant Schlumberger through which to develop 27,000 net acres of Forest Oil’s Eagle Ford assets. Through the terms, Schlumberger will pay a $90 million drilling carry, financing Forest’s drilling expenses, in return for a 50 percent interest in Forest’s Eagle Ford acreage. The deal implies a value of roughly $3,300 an acre, according to analysts at Jefferies in a note to clients Friday, who also said that the figure compares with over $20,000 an acre in recent Eagle Ford deals by other firms. Schlumberger also gets to pay in kind, which probably will mean less than $90 million.

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Envestnet (NYSE: ENV): Current price $18.06

The company will acquire substantially all of the assets of the Wealth Management Solutions (NYSE:WMS) unit of Prudential Investments. Envestnet has agreed to purchase practically all of the assets of Prudential WMS for a cash price of $10 million upon closing, along with contingent consideration of up to an amount of $23 million in cash to be paid over three years. The transaction is expected to close by early third quarter. The buyer, Envestnet, is a leading provider of unified wealth management technology and services to investment advisors.

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ENV

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Sprint Nextel Corporation (NYSE:S): Current price $7.16

On Monday, Sprint confirmed it received an unsolicited proposal from DISH Network (NASDAQ:DISH) to purchase it. The firm said that its board will evaluate this proposal carefully and consistent with its fiduciary and legal duties, but that it does not plan to comment further until the appropriate time.

SoftBank Corp. on Tuesday said that it believes its offer for the wireless carrier Sprint Nextel is a better choice than is the $25.5 billion counteroffer by DISH Network Corp (NASDAQ:DISH). For its part, DISH says that its cash and stock bid beats Softbank’s. In the firm’s Tuesday statement, SoftBank contended that the agreed terms of its deal “offer Sprint shareholders superior short and long term benefits to DISH’s highly conditional preliminary proposal.” The Japanese firm expects to finalize the transaction under the terms already agreed upon by July 1.

David Faber at CNBC reports that Sprint has formed a special committee to look at DISH Network’s (NASDAQ:DISH) proposed $7.02-per-share takeover bid, as he noted considerable speculation on the gigantic debt being raised for the transaction. Such a combined entity would have roughly $44 billion of it, and Faber wonders if DISH Chief Executive Charlie Ergen is actually serious, or is driving at a commercial deal with Sprint of some sort.

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Thermo Fisher Scientific (NYSE:TMO): Current price $80.03

Thermo Fisher and Life Technologies Corporation have reached an agreement through which Thermo Fisher will purchase the latter for $76 in cash per fully diluted common share, or roughly $13.6 billion, along with the assumption of net debt at the close ($2.2 billion as of year end 2012). The transaction should close early in 2014.

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TMO

National Financial Partners Corp. (NYSE:NFP): Current price $25.12

The corporation announced Monday that it will be acquired by a controlled affiliate of Madison Dearborn. Through the terms, NFP shareholders will receive $25.35 in cash for each share of NFP common stock they own, in a transaction with an equity value of around $1.3 billion, which includes the full value of the firm’s convertible debt. The purchase price represents a premium of roughly 26 percent over NFP’s close of $20.05 on March 12, the last day of trading before press reports that NFP was considering a possible sale. The transaction should close in the third quarter.

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CareFusion Corp. (NYSE:CFN): Current price $34.56

The firm’s medical pumps, ventilators, and medicine dispensers have already enticed the attention of investors who drove shares to a record last week, and now it could get noticed by private-equity firms. The stocks have soared by 23 percent in 2013, as a turnaround plan helped expand margins and health-care stocks led the Standard & Poor’s 500 Index. CareFusion could be bought by a private-equity firm and then broken into pieces to boost returns, said B. Riley & Co.

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CFN

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PowerSecure International (NASDAQ: POWR): Current price $12.17

PowerSecure has acquired Solais Lighting, a private firm which has a proprietary portfolio of LED lamps and fixtures for commercial and industrial applications that provide superior light output, thermal management, optics, light quality, and aesthetics. The buyer paid the stockholders of Solais $6.5 million in cash along with 675,160 shares of its common stock, and assumed roughly $0.2 million in negative working capital for an aggregate transaction value of $15 million. The shares were valued at $12.22 apiece.

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Verizon Communications (NYSE:VZ): Current Price $52.26

The Wall Street Journal reports that Verizon Wireless will pay as much as $1.5 billion to acquire spectrum leases from Clearwire Corporation (NASDAQ:CLWR). The purchase would give the United States’ biggest wireless carrier the right to use airwaves currently controlled by Clearwire in big domestic markets. Beyond that, it further complicates a three-way series of agreements in which Clearwire would divest itself to part owner Sprint Nextel Corporation, and Sprint agreed to sell a controlling interest in itself to Softbank of Japan. Adding yet another factor, Sprint now has become the subject of a competitive takeover bid from DISH Network Corporation.

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VZ

Royal Dutch Shell (NYSE:RDSA): Current price $64.05

On Monday, Shell said that it is mulling the divestiture of its retail, aviation, and supply and distribution downstream units in Italy. The potential sale builds on Shell’s strategy to focus its world where it can be most competitive. The company’s non-service station lubricants and marine businesses are not relevant to this announcement, which also has no impact on the upstream, or exploration and production, and gas and power businesses in Italy, as they present strong growth opportunities for Shell there.

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Intel Corporation (NASDAQ:INTC): Current price $22.44

The chip giant is acquiring Mashery, a seven-year-old San Francisco firm that specializes in linking together Web-based software and services, according to a company spokesperson to ReadWrite. Intel intends to offer the “majority” of workers jobs when the transaction closes, which should be in the second quarter. The group will stay in its present location and be integrated into Intel’s two-year-old Services Division. Financials were not divulged, but the deal is said to not be material to Intel’s financial results.

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INTC
Eli Lilly and Company (NYSE:LLY): Current price $57.38
So as to reinforce its lead in Alzheimer’s diagnostics, Eli Lilly announced on Wednesday that it will purchase two imaging agents from Siemens, that were created to light up brain deposits of tau, which is an Alzheimer’s protein linked with cell death. The two agents are radiopharmaceutical tracers, which are employed with positron emission tomography, or PET scans, to highlight specific proteins in the brain. Terms of the transaction with the conglomerate’s Siemens Medical Solutions USA division were not reported.
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LLY

API Technologies Corp. (NASDAQ:ATNY) : Current price $2.84

API reports the divestiture of its Sensors Products unit to Measurement Specialties (NASDAQ:MEAS) in an all-cash transaction amounting to $51.4 million. The net cash proceeds from the sale will be used to pay down debt. Sensors, which includes thermal, position, and inertial sensor products, comprised $26.2 million of API’s revenue in fiscal year 2012. The latter is a provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications.

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ATNY

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International Business Machines Corporation (NYSE:IBM): Current price $190.07

A number of inside sources told CRN this week that IBM is in active negotiations to divest its x86 server hardware division, as Lenovo emerged as the top candidate to acquire it. The latter is presently the only firm in negotiations for the x86 server business, said one high-ranking industry executive monitoring the deal, who added that the transaction would encompass IBM’s System x line, which includes Intel- and AMD-based tower, rack, and blade servers. The owner is said to be wanting between $5 billion and $6 billion for its business, reported the executive, who also related that Lenovo became a desirable candidate because IBM will only sell its unit to firms it does not see as a threat to other parts of its business.

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IBM

National Health Investors (NYSE: NHI): Current price $64.65

The company has announced a $26.3 million purchase totaling 254 beds of newer skilled nursing facilities located in Canton and Corinth, Texas. Indirect affiliates of Fundamental committed to a ten-year initial lease term plus annual fixed escalators. The purchase was paid from borrowings on NHI’s revolving credit facility.

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NHI

Plains Exploration & Production Company (NYSE:PXP): Current price $44.63

Plains shareholders are expecting positive results from an oil well find, building up anticipation that Freeport-McMoRan Copper & Gold  (NYSE:FCX) will be forced to hike its takeover offer. Following Freeport’s agreement to purchase the Houston-based company in December for around $50 per share in cash and stock, or $6.9 billion, drilling commenced at Plains’ deep-water Phobos project in the Gulf of Mexico. While analysts await the well’s results in the next month, traders have pushed Plains shares as much as 2.7 percent over Freeport’s bid, the highest since the deal was announced, said data compiled by Bloomberg.

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