Notable Mergers and Acquisitions of the Day 7/22 (BXG, BRCD/FDRY, MICC)

July 22, 2008 10:03 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Bluegreen Corporation (NYSE: BXG) signed a non-binding letter of intent relating to the acquisition of the Company at a price of $15.00 per share by Diamond Resorts International, which would value this transaction at approximately $500 million, exclusive of Bluegreen’s outstanding debt.
  
  Under the terms of the letter of intent, Bluegreen has granted Diamond Resorts an exclusive right of negotiation through September 15, 2008, during which time Diamond Resorts will conduct more extensive due diligence.
  
  
• Brocade (Nasdaq: BRCD) announced a definitive agreement to purchase Foundry Networks, Inc. (Nasdaq: FDRY). Under the agreement, Brocade will pay a combination of $18.50 of cash plus 0.0907 shares of Brocade common stock in exchange for each share of Foundry common stock, representing a total value of $19.25 (based on Brocade's closing stock price on Friday, July 18, 2008 of $8.27).
  
  Foundry Networks closed at $13.66 yesterday.
  
  The transaction has an aggregate purchase price of approximately $3.0 billion on a fully diluted basis, and is expected to be accretive to Brocade non-GAAP EPS in its fiscal year 2009, with non-GAAP EPS accretion expected to accelerate in Brocade's fiscal year 2010. The acquisition is expected to close in the fourth quarter of calendar year 2008.
  
  
• Millicom International Cellular S.A. (NASDAQ: MICC) has agreed to acquire 100% of Amnet Telecommunications Holding Limited for an enterprise value of $ 510 million. Completion of the acquisition, which is subject to customary approvals, is expected within three months.

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

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