Notable Mergers and Acquisitions of the Day 6/12 (IVGN/ABI, BUD, SWK)

June 12, 2008 9:18 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Invitrogen Corporation (NASDAQ: IVGN) and Applera Corporation today announced that their Boards of Directors have approved a definitive merger agreement, under which Invitrogen will acquire all of the outstanding shares of Applera's Applied Biosystems Group (NYSE: ABI) in a cash and stock transaction valued at $6.7 billion.
  
  Under the terms of the merger agreement, Applera-Applied Biosystems shareholders will receive $38.00 for each share of Applera-Applied Biosystems stock they own in the form of Invitrogen common stock and cash. The expected split between cash and stock is 45% and 55%, respectively. Applera-Applied Biosystems shareholders will receive a value of $38.00 a share if the 20 day volume-weighted average price of Invitrogen common stock is in the range of $43.69 - $46.00 three business days prior to the close of the transaction.
  
  
• Anheuser-Busch Cos. Inc. (NYSE: BUD) has received an unsolicited, non-binding proposal from InBev to acquire all of the outstanding shares of Anheuser-Busch for $65 per share in cash.
  
  Anheuser-Busch said that its board of directors will evaluate the proposal carefully and in the context of all relevant factors, including Anheuser-Busch's long-term strategic plan. The board will review the merits of the proposal consistent with its fiduciary duties and in consultation with its financial and legal advisers. The board will pursue the course of action that is in the best interests of Anheuser-Busch's stockholders.
  
  
• Stanley Works (NYSE: SWK) announced that it has entered into an agreement to sell its CST/berger laser leveling and measuring business, based in West Lafayette, IN, to Robert Bosch Tool Corporation for $205 million. This operation had 2007 revenues of $80 million (excluding certain European sales of approximately $10 million), primarily in North American construction-related markets. The transaction, which has been approved by the Boards of Directors of Stanley and Bosch, is subject to regulatory approvals and other customary conditions, and is expected to close during the next several months at which time the company expects to realize a pre-tax book gain totaling $138 million. Net after-tax cash proceeds from the sale are expected to approximate $155 million.
  
  In a separate transaction, the company also announced that it has entered into an agreement to purchase 100% of the shares of Sonitrol Corporation from an ownership group comprised of Carlyle Venture Partners, Wachovia Capital Partners and Spire Capital Partners as well as selected members of Sonitrol management for $275 million cash (approximately 10x EBITDA).

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

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