Notable Mergers and Acquisitions of the Day 12/01: MIGP/UFCS, EURX, CSCO

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Mercer Insurance Group, Inc. (Nasdaq: MIGP) announced an agreement to be acquired by United Fire & Casualty Company (Nasdaq: UFCS) for $28.25 per share, or approximately $191 million.

The price represents a premium of 49.8% to the closing price of Mercer Insurance common stock on November 30, 2010.

United Fire is being advised in this transaction by Keefe, Bruyette & Woods, Inc. and the law firms of Bradley & Riley PC and Sidley Austin LLP. Mercer is being advised by Sandler O'Neill + Partners, L.P. and the law firm of Stevens & Lee.
Eurand N.V. (Nasdaq: EURX) and Axcan Holdings, Inc., announced that they have entered into an agreement whereby Axcan will acquire all the outstanding shares of Eurand for $12.00 per share in cash, or a total consideration of $583 million.

Under the terms of the agreement, it is anticipated that a wholly-owned subsidiary of Axcan will shortly commence a tender offer for all of the outstanding shares of Eurand.

Axcan has secured committed debt financing from BofA Merrill Lynch, Barclays Capital and RBC Capital Markets.

Jefferies & Company Inc. is acting as financial advisor, NautaDutilh is acting as Dutch legal counsel, and Sullivan & Cromwell LLP is acting as U.S. legal counsel to the independent Special Committee of the Board of Directors of Eurand. Goldman Sachs is acting as financial advisor and Morgan, Lewis & Bockius LLP and NautaDutilh are acting as legal counsel to Eurand N.V.

BofA Merrill Lynch, Barclays Capital, and RBC Capital Markets are acting as financial advisors to Axcan. Ropes & Gray LLP, Baker & McKenzie, Cleary Gottlieb Steen & Hamilton LLP and Blank Rome LLP are acting as legal advisors to Axcan.

The transaction is expected to close in Q211.
Cisco Systems Inc. (NASDAQ: CSCO) announced Wednesday it intents to acquire privately held LineSider Technologies, Inc., a leading provider of network management software.

"Cloud computing represents a significant opportunity for Cisco customers to create more effective business models and increase the operating efficiency of the network," said Jesper Andersen, senior vice president of Cisco's Network Management Technology Group. "With the acquisition of LineSider, Cisco will gain a key component to helping customers make this shift."

Financial terms of the deal are undisclosed, while Cisco expects the deal to close in the second quarter of the the company's fiscal year 2011.