Notable Mergers and Acquisitions of the Day 4/21 (JEF/LUK, BCSI/PKTR, AVT)

April 21, 2008 9:48 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Jefferies Group, Inc. (NYSE: JEF) agreed to sell 26,585,310 shares of Jefferies common stock to Leucadia National Corporation (NYSE: LUK).
  
  Leucadia has agreed that, without the approval of the Jefferies Board of Directors, for two years Leucadia will not sell any of the Jefferies shares, which represent a 13.7% equity interest in Jefferies on a fully-diluted basis, nor acquire in excess of 30% of Jefferies' outstanding shares.
  
  Jefferies has agreed to purchase 10 million of Leucadia's common shares in exchange for the 26,585,310 Jefferies shares and $100,021,353 in cash. Leucadia will register these shares promptly for discretionary resale by Jefferies from time to time.
  
  
• Blue Coat Systems, Inc. (Nasdaq: BCSI) signed a definitive agreement with Packeteer, Inc. (Nasdaq: PKTR), a leader in WAN optimization and WAN traffic prioritization technologies, under which Blue Coat will acquire Packeteer for $7.10 per share in cash, or approximately $268 million.
  
  Packeteer closed at $6.18 on Friday.
  
  The acquisition is expected to be accretive on a non-GAAP basis in the second full quarter of combined operations.
  
  
• Avnet, Inc. (NYSE: AVT) announced that through its wholly-owned subsidiary, Avnet (Holdings) Limited, the Company plans to acquire Horizon Technology Group PLC in an all cash offer for €1.18 per share, which equates to an equity value of approximately €98.5 million ($156.1 million) and a transaction value of €94.4 million ($149.6 million) assuming a net cash position for Horizon of €4.1M as of December 31, 2007. Horizon is a leading technical integrator and distributor of information technology products in the UK and Ireland.
  
  Horizon’s distribution business markets enterprise server, storage, networking and security products from leading vendors including Sun Microsystems, EMC, F5 Networks Juniper, IBM, and Nortel. In 2007, Horizon had total sales of €288 million and EBITDA of €10.7 million before unusual items. Horizon will be integrated into Avnet’s European Technology Solutions (TS) business.
  
  The transaction is expected to be completed by the end of June and be accretive to earnings by approximately $0.10 per share in FY2009, excluding integration charges, and supports Avnet’s return on capital goals.
  

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

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