Notable Mergers and Acquisitions of the Day 06/30: (ANSS) (CLDT) (NDAQ)

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EPS Growth %: +15.8%

ANSYS, Inc. (Nasdaq: ANSS), to acquire Apache Design Solutions, Inc., for a purchase price of approximately $310 million in cash, which includes an estimated $29 million in cash on Apache's balance sheet.

The agreement also includes retention provisions and incentives for key members of management and employees, earned over a three fiscal year period following closing, including an additional $13 million of performance equity awards. When completed, ANSYS currently expects that the transaction will be modestly accretive to non-GAAP earnings per share in its first full year of combined operations.

In connection with the transaction, Deutsche Bank Securities Inc. is acting as exclusive financial advisor to Apache, and O'Melveny & Myers LLP (Menlo Park office) is acting as legal counsel. BofA Merrill Lynch is acting as ANSYS' financial advisor and ANSYS retained Goodwin Procter LLP as its legal advisor.
Chatham Lodging Trust (NYSE: CLDT) announced a major, strategic milestone that will enhance the company's growth. Following the U.S. Bankruptcy Court's approval today of the Plan of Reorganization for Innkeepers USA Trust and its affiliates, Chatham will acquire from Innkeepers interests in 69 premium-branded hotels, the vast majority of which were recently renovated.

From the release: "Chatham will invest a total of approximately $232 million in the transactions, consisting of $195 million in an outright purchase of five of the hotels and a $37 million acquisition of a 9.2 percent interest in a joint venture with affiliates of Cerberus Capital Management, L.P., that will acquire 64 of the hotels for approximately $1.125 billion.

Upon completion of these acquisitions, which is expected in July 2011, Chatham will own interests in 83 hotels that were acquired for $1.5 billion, 19 of which will be wholly-owned, premium-branded hotels with 2,588 rooms located in the country's leading hotel markets.
Shares of Nasdaq OMX (Nasdaq: NDAQ) closed up $1.13, or 4.7 percent, to $25.14 on talks that that it may be looking at the London Stock Exchange (LSE) for its next possible partnership.

On June 29th, Toronto's TSX group abandoned its plans for a merger with the LSE, while Nasdaq failed in an attempt to acquire the NYSE Euronext (NYSE: NYX) earlier this year through a joint bid with the IntercontinentalExchange, Inc. (NYSE: ICE).

Fox Business reports Nasdaq has been actively looking for an attractive partner following the hostile bid collapse of the NYSE. Currently, Nasdaq is not interested in acquiring Toronto’s TSX group.

No official talks have about a merger or partnership within the two companies has not taken place since Nasdaq tried to purchase the LSE back in 2007.