Notable Mergers and Acquisitions of the Day 05/10: (MSFT) (CKXE) (DD)

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Microsoft Corp. (Nasdaq: MSFT) and Skype Global S.a r.l confirmed Tuesday that they have entered into a definitive agreement under which Microsoft will acquire Skype for $8.5 billion in cash from the investor group led by Silver Lake.

Rumors late Monday said the deal could be valued at more than $7 billion.

The agreement has been approved by the boards of directors of both Microsoft and Skype.

Steve Ballmer, CEO of Microsoft, said, "Skype is a phenomenal service that is loved by millions of people around the world. Together we will create the future of real-time communications so people can easily stay connected to family, friends, clients and colleagues anywhere in the world."
CKx, Inc. (Nasdaq: CKXE) Tuesday announced that it has entered into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management (NYSE: APO) for $5.50 per share in cash.

The deal represents a 40% premium over CKx’s average closing price over the past six months and an approximately 25% premium over the closing price on Monday, May 9.

Michael Ferrel, Chairman and CEO of CKx, said: “We look forward to working with Apollo, a growth-oriented investor who has a successful history of investing in the media and entertainment sector and one that the Board and management team are confident will serve as a strong steward for the Company’s brands going forward. The transaction allows CKx stockholders to realize significant value from their investment in the Company and the Board has determined that the transaction is advisable, fair and in the best interest of the Company’s public stockholders."
DuPont (NYSE: DD) confirmed today that its offer to acquire all of the outstanding shares of Danisco at a price of DKK 700 in cash per share is final.

DuPont reminds Danisco shareholders that tendering shares is the only way to receive the full value and certainty of the DKK 700 cash tender offer.