Notable Mergers and Acquisitions of the Day 11/02: ARTG/ORCL, TEAM, CFS

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Art Technology Group, Inc. (Nasdaq: ARTG) and Oracle (Nasdaq: ORCL) announced that they have entered an agreement whereby Oracle will acquire all outstanding shares of Art Technology for $6.00 per share in cash, or $1 billion total.

The transaction, subject to stockholder and regulatory approval, is expected to close in early 2011.
This morning, TechTeam Global (Nasdaq: TEAM) announced a agreement to be acquired by an affiliate of Stefanini International Holdings Ltd for $8.35 per share, or $93.4 million.

The takeover represents a 16.8% premium over the closing price of TechTeam Global common stock on November 1, 2010.

A tender offer is scheduled to commence within 10 business days and is expected to close during the fourth quarter of 2010.

Houlihan Lokey served as TechTeam Global's financial advisor and Ropes & Gray LLP served as TechTeam Global's legal advisor in connection with the transaction. Fredericks Michael & Co. served as Stefanini International Holdings Ltd's financial advisor and DLA Piper LLP (US) served as Stefanini International Holdings Ltd's legal advisor in connection with the transaction.
COMFORCE Corp. (AMEX: CFS) and ABRY Partners, LLC, announced that they have entered into a definitive merger agreement, whereby an affiliate of ABRY will acquire all outstanding common shares of COMFORCE for a consideration of $2.50 per share, or an $84.8 million total consideration.

The merger is expected to close in Q410.

Ewing Bemiss & Co. is serving as financial advisor to COMFORCE. Barnes & Thornburg LLP is serving as legal counsel to COMFORCE.

Kirkland & Ellis LLP is serving as legal counsel to ABRY Partners.