Notable Mergers and Acquisitions of the Day 10/15: EPIC, AOC/MCY, MXIM

October 15, 2008 10:06 AM EDT

• Elliott Associates, L.P. today announced that it has commenced a cash tender offer for all outstanding shares of common stock of Epicor Software (Nasdaq: EPIC) in furtherance of Elliott's previously announced proposal to acquire the company. The complete terms, conditions and other details of Elliott's offer will be filed later today with the U.S. SEC.
  
  Under the terms of the tender offer, Elliott is offering, through a wholly-owned subsidiary, to acquire Epicor for $9.50 per share in cash, or an aggregate of approximately $529 million. This offer represents a 39.7% premium to Epicor's close of $6.80 yesterday, a 20% premium to Epicor's close of $7.89 on September 30, 2008 and a 25% premium to the trailing 60-day closing price as of such date.
  
  
• Aon Corporation (NYSE: AOC) announced a definitive agreement to sell its AIS Management Group unit to Mercury Insurance Group (NYSE: MCY), California's third-largest personal automobile insurance carrier.
  
  Terms of the sale include $120 million cash plus a potential earn out of up to $34.7 million payable over the two-year period following the close of the transaction. The sale includes business transacted under the Auto Insurance Specialists, Inc., PoliSeek and Aon Recreation Insurance brands.
  
  
• Maxim Integrated Products, Inc. (NASDAQ: MXIM) has entered into a definitive agreement to purchase Mobilygen, a privately held, fabless semiconductor company with leading technology in H.264 video compression. Completion of the transaction is subject to customary closing conditions. The transaction is expected to close in the fourth calendar quarter of 2008. Maxim's acquisition of Mobilygen brings leading H.264 video compression technology positioning Maxim to become a key supplier to the $2B video security semiconductor market.
  
  Maxim expects the served available market for H.264 compression in IP cameras and DVRs (Digital Video Recorders) to be in excess of $200 million in the Company's 2012 fiscal year.
  
  Maxim expects Mobilygen to become accretive to its earnings in fiscal year 2010 as a result of Maxim's economies of scale, and new demand created through synergies with Maxim's broad portfolio of complimentary video, audio, power management, wireless, and interface products.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

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