Notable Mergers and Acquisitions of the Day: CSCO, BWY/BLL, RODM/BMRN

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CSCO Hot Sheet

Overall Analyst Rating:
BUY (= Flat)

Dividend Yield: 1.5%
EPS Growth %: +14.3%

Cisco (NASDAQ: CSCO) announced its intent to acquire privately held ScanSafe, Inc. Based in London and San Francisco, ScanSafe is a market leader of software-as-a-service (SaaS) Web security solutions for organizations ranging from global enterprises to small businesses.

Under the terms of the agreement, Cisco will pay approximately $183 million in cash and retention-based incentives. The acquisition is subject to various standard closing conditions and is expected to close in the second quarter of Cisco's fiscal year 2010.
BWAY Corporation, the principal operating subsidiary of BWAY Holding Company (NYSE: BWY) today reported that it has completed the previously announced acquisition of the assets, and certain liabilities, of Ball Corporation's (NYSE: BLL) plastic packaging plant and business located outside of Atlanta in Newnan, GA. The facility produces injection molded plastic pails and certain other products. The Company paid approximately $32.0 million for the acquisition, and funded the transaction using cash on hand.
Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) announced today that its affiliate, Aceras BioMedical LLC, has sold Huxley Pharmaceuticals Inc. to BioMarin Pharmaceutical Inc. (NASDAQ: BMRN). Huxley was established by Aceras in August 2008 with a focus on developing therapeutic products for rare diseases of the nervous system.

Under the terms of the agreement, BioMarin paid Huxley stockholders $15.0 million. An additional $7.5 million is payable upon the achievement of regulatory milestones. Further, Huxley stockholders may also receive up to an additional $36 million in milestone payments if certain annual, cumulative sales and U.S. development milestones are met. Aceras owned 95% of Huxley's stock at the time of the transaction.