Notable Mergers and Acquisitions of the Day 3/16: BCS, CVTX, BAM
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StreetInsider.com Notable Mergers and Acquisitions of the Day:
- Barclays (NYSE: BCS) confirmed speculation that it has held discussions with a number of potentially interested parties intersted in its iShares unit. The firm said no decision regarding the disposal of any business has been taken by the board of Barclays.
- Astellas Pharma Inc said it will terminate its $16.00 per share offer for CV Therapeutics, Inc. (Nasdaq: CVTX) and will not propose directors for the CV Therapeutics Board of Directors or make any other proposals at CV Therapeutics' 2009 annual meeting.
Late last week, CV Therapeutics agreed to be acquired by Gilead (Nasdaq: GILD) for $20 per share.
- MediSolution Ltd. and Brookfield Asset Management Inc. (NYSE: BAM) announced that MediSolution has entered into an agreement with Brookfield to effect a going private transaction whereby Brookfield will acquire all of the outstanding common shares of MediSolution not already owned by Brookfield or its affiliates at a price of $0.30 per Share in cash, representing a total cash consideration of approximately $19 million.
The price of $0.30 per Share offered by Brookfield represents a premium of approximately 53.8% over the closing price of the Shares on the Toronto Stock Exchange on March 13, 2009, the last day on which the Shares traded prior to the announcement of the proposed transaction, and a premium of approximately 54% over the 20-day average closing price of the Shares on the TSX.
- Spectrum Pharmaceuticals (NasdaqGM: SPPI) announced the closing of the transaction whereby Spectrum Pharmaceuticals acquired 100% control of RIT Oncology, LLC(TM), to commercialize ZEVALIN(R) ([90Y]-ibritumomab tiuxetan) in the United States. In connection with the closing, Spectrum Pharmaceuticals will pay its former partner a total of $16.5 million, which is subject to further adjustments based on outstanding liabilities and obligations.
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