Notable Mergers and Acquisitions of the Day 06/07: (CJES) (STRC) (DGIT) (ATVI)
- Hilton Worldwide (HLT) IPO Opens at $21.30
- Initial Jobless Claims Spike Higher, But Market May Take it in Stride
- Aramark Holdings (ARMK) IPO Opens Modestly Higher
- Pre-Open Stock Movers 12/12: (BAXS) (UNS) (ARCW) Higher; (IMUC) (LULU) (CIEN) Lower (more...)
- U.S. Retail Sales Jump 0.7% in Nov. as Consumers Become More Complacent
- C&J Energy Services, Inc. (NYSE: CJES) today announced that it has entered into a definitive purchase agreement to acquire all of the outstanding equity interests of Casedhole Holdings, Inc. and its operating subsidiaries, including Casedhole Solutions, Inc., for approximately $272.5 million in cash, subject to customary closing adjustments.
- After the market closed Wednesday, Bloomberg reported that Digital Generation, Inc. (Nasdaq: DGIT) that the company rejected an offer of more than $20 per share from rival Extreme Reach.
A merger between the two advertising-management companies might have raised antitrust concerns, a person familiar with the matter was quoted as saying.
A $20 offer would be more than double Digital Generation's Wednesday market close.
- Synergy Health plc and SRI/Surgical Express, Inc. (Nasdaq: STRC) have entered into a definitive merger agreement.
Under the terms of the agreement, a subsidiary of Synergy Health will acquire all of the outstanding shares of common stock of SRI for $3.70 per share in cash through a cash tender offer followed by a merger. The transaction is valued in the aggregate at approximately $25.06 million in equity value and $38.45 million in enterprise value. The cash consideration represents a premium of approximately 17% to SRI's closing share price on September 13, 2011, the last trading day before SRI announced that it would explore strategic alternatives. The agreement has been unanimously approved by each company's Board of Directors.
Under the terms of the merger agreement, the parties anticipate that the Merger Sub will commence a tender offer for all of the outstanding shares of SRI before June 18, 2012. If the first step tender offer is successfully completed, the Merger Sub will acquire any of the SRI shares of common stock not tendered in the tender offer through a second step merger transaction in which the remaining SRI shares are converted into a right to receive the same consideration per share as paid in the tender offer. SRI has exempted the transactions contemplated by the merger agreement from its shareholder rights plan. The tender offer transaction, which is subject to customary closing conditions, is expected to close by July 16, 2012.
Completion of the tender offer is subject to, among other things, the satisfaction of the minimum tender condition of at least a majority of SRI's outstanding shares of common stock, and other customary closing conditions. The transaction is not subject to a financing condition.
- Vivendi said to discuss Activision (Nasdaq: ATVI) sale at June 22nd meeting.
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