4 Mergers and Acquisitions Stock Stories for Tuesday Due Diligence

CBS Corp. (NYSE:CBS): Current price $52.62

Platinum Equity and CBS said Tuesday that an affiliate of the former has made an irrevocable binding offer to purchase the assets of CBS Outdoor International. The proposed deal represents an aggregate value of around $225 million and is subject to the finalization of works council consultation along with other conditions.

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CBS

Dell Inc. (NASDAQ:DELL): Current price $13

Dell shareholders are supposed to vote Thursday on Michael Dell’s proposed buyout, but now a special committee of the board is thinking about postponing the that vote, as it wants a higher bid or time to win over support for the $24.4-billion deal, according to a Bloomberg source, who said that the committee is considering a delay of about a week. The source also said that the group will probably make its decision by Thursday morning if the votes already cast against the buyout are sufficient to collapse it, and that the June 3 record date — by which it was necessary to invest by to be entitled to vote — will not be altered.

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DELL

Apple Inc. (NASDAQ:AAPL): Current price $430.49

Calcalist said Tuesday that Apple is in early talks to acquire the Israel-based PrimeSense, which develops chips that enable 3-D machine vision, at a price of $280 million. Calcalist said that a delegation of Apple engineering executives visited PrimeSense in early July, but officials at PrimeSense were not available for comment. PrimeSense has raised $85 million from Israeli and U.S. venture capital funds, according to the website.

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AAPL

Smithfield Foods Inc. (NYSE:SFD): Current price $33.15

The buyer of Smithfield Foods, Shuanghui International Holdings, intends to list the combined entity in Hong Kong following its completion of the takeover, according to sources speaking to Reuters. An IPO in Hong Kong, valued at approximately $4 billion, would permit the merged group to trade in a market that would place a higher valuation on the stock than would the American or other exchanges, according to the sources.

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SFD

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