Notable Mergers and Acquisitions of the Day 09/27: ACV/UL, LUV/AAI, VRAD/NHWK

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Alberto Culver Company (NYSE: ACV) confirmed entered into a definitive agreement to be acquired by Unilever (NYSE: UL) for $37.50 per share in cash, or approximately $3.7 billion.

The acquisition comes at a 19 percent premium to Friday's close of $31.48 per share.
Southwest Airlines (NYSE: LUV) announced Monday that it has agreed to acquire AirTran Holdings Inc. (NYSE: AAI), the parent company of AirTran Airways, in a cash and stock deal that values the company at about $1.4 billion, including convertible notes.

The deal values AirTran at $7.69 per share, based on the closing price of Southwest shares on Friday. The acquisition represents a 69 percent premium over the closing price on Friday of Air Tran shares, at $4.55.

The deal will be worth approximately $3.4 billion including AirTran’s Debt.

Under the terms of the agreement, stockholders of AirTran will receive $3.75 in cash and 0.321 shares of Southwest for each share of common stock owned.
Virtual Radiologic (Nasdaq: VRAD) and NightHawk Radiology (Nasdaq: NHWK) today announced that they have entered into a definitive agreement under which VRAD will acquire all of the outstanding common stock of NightHawk for $6.50 per share in cash. The offer price represents a premium of 100% over NightHawk's last closing stock price of $3.25 per share. The transaction is valued at approximately $170 million.

Upon the completion of the transaction, Rob Kill will continue to serve as President and CEO of the combined organization.

NightHawk's Board of Directors unanimously approved the agreement and recommends that stockholders vote in favor of the transaction. The transaction is expected to be completed in the first quarter of 2011, subject to customary closing conditions, including the approval of NightHawk's stockholders.