Notable Mergers and Acquisitions of the Day 8/19: LNC, MENT/LGVN, NUTR

August 19, 2009 9:47 AM EDT

• Lincoln Financial Group (NYSE: LNC) today announced that it has signed a definitive agreement to sell Delaware Management Holdings, Inc. and its subsidiaries, its asset management unit, to Macquarie Group, a Sydney, Australia-headquartered global provider of banking, financial, advisory, investment and funds management services. Lincoln Financial expects to receive cash consideration of approximately $428 million, subject to certain closing adjustments. The transaction is expected to close on or around December 31, 2009, subject to regulatory approvals and other customary closing conditions.
  
  Delaware Investments will continue managing Lincoln Financial general account insurance assets under a long-term contract, and will provide additional sub-advisory services. Lincoln Financial remains committed to providing access to high-quality asset management services by selecting best-in-class sub-advisors, including Delaware Investments, for its retirement and insurance products.
  
  By close, Lincoln Financial expects that its distribution team for Delaware Investments' funds and separately managed accounts will move from its wholesale distribution arm, Lincoln Financial Distributors, Inc., to Delaware Investments.
  
  The proceeds of the sale will be used for general corporate purposes, including potentially contributing to retiring a portion of the CPP preferred shares outstanding when it is appropriate to do so.
  
  Goldman, Sachs & Co. acted as financial advisor to Lincoln Financial Group.
  
  
• Mentor Graphics Corporation (NASDAQ: MENT) and LogicVision, Inc. (NASDAQ: LGVN) announced that LogicVision stockholders have voted to approve, and the parties have closed, the previously-announced merger.
  
  Former LogicVision stockholders will receive 0.2006 share of Mentor Graphics common stock in exchange for each share of LogicVision common stock.
  
  
• Ryan Drexler, a former senior executive and equity owner of market-leading Country Life Vitamins and holder of 341,000 shares, or 3.1% of the outstanding common stock of Nutraceutical International (Nasdaq: NUTR) announced his proposal to acquire all of the outstanding shares of Nutraceutical International Corp. in a negotiated all-cash transaction of $10.75 per share.
  
  In his letter to the Board, Mr. Drexler wrote: "...I believe the company is sorely underperforming and in dire need of management direction and expertise. Twice before I have reached out to the board in an effort to find a mutually beneficial path toward unlocking value for all Nutraceutical shareholders and twice before I have received cursory rejections. This is in spite of the fact, known to management, that I personally have a long track record of success as an executive and equity owner in the nutritional supplement and natural product industry.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

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• Macquarie Group
• Notable Mergers and Acquisitions

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