Notable Mergers and Acquisitions of the Day 6/26 (MSFT, ORBK/PHTN, URRE, DUK)
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- Notable Mergers and Acquisitions of the Day 6/26 (MSFT, ORBK/PHTN, URRE, DUK)
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StreetInsider.com Notable Mergers and Acquisitions of the Day:
- Microsoft Corp. (Nasdaq: MSFT) announced it intends to acquire MobiComp, a company that helped pioneer technologies allowing the backup and restoration of mobile data and mobile posting of social content to Web sites such as Facebook. The acquisition would combine MobiComp's expertise building innovative mobile data protection and sharing services with Microsoft's vision to provide compelling experiences that span work and play across mobile phones, the Web and PCs.
Terms of the planned acquisition are not being disclosed.
- Orbotech Ltd. (NASDAQ: ORBK) and Photon Dynamics, Inc. (NASDAQ: PHTN) signed a definitive agreement for Orbotech to acquire Photon Dynamics.
Under the terms of the agreement, Orbotech will pay $15.60 per share in cash for all of the issued and outstanding shares of Photon Dynamics' common stock, making an aggregate merger consideration value for the transaction of approximately $290 million. Photon closed at $11.56 per share yesterday.
- Uranium Resources, Inc. (NASDAQ: URRE) has decided along with Billiton Investment 15 B.V. to terminate URI's agreement to purchase Rio Algom Mining LLC, which was entered into on October 12, 2007.
RI had incurred and capitalized $1.2 million in costs associated with the transaction. These costs will be expensed in the second quarter ending June 30, 2008.
Mr. David N. Clark, President and CEO of URI, commented, "We believe this is the best decision for the Company and our shareholders given current market conditions that have prevented us from securing the $180 million needed to finance the acquisition."
- Duke Energy (NYSE: DUK) today announced the acquisition of Catamount Energy Corp. from funds affiliated with Diamond Castle Holdings, LLC, a transaction that will significantly increase Duke Energy's wind energy operations. The deal was valued at $240 million plus assumed debt.
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