Notable Mergers and Acquisitions of the Day 5/5 (MSFT/YHOO, BMY, WLL)

May 5, 2008 9:37 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• "We continue to believe that our proposed acquisition made sense for Microsoft (Nasdaq: MSFT), Yahoo! (Nasdaq: YHOO) and the market as a whole. Our goal in pursuing a combination with Yahoo! was to provide greater choice and innovation in the marketplace and create real value for our respective stockholders and employees," said Steve Ballmer, chief executive officer of Microsoft.
  
  "Despite our best efforts, including raising our bid by roughly US$5 billion, Yahoo! has not moved toward accepting our offer. After careful consideration, we believe the economics demanded by Yahoo! do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal," said Ballmer.
  
  
• Bristol-Myers Squibb Company (NYSE: BMY) has signed a definitive agreement to sell its ConvaTec business unit to Nordic Capital Fund VII and Avista Capital Partners for $4.1 billion subject to adjustments based on ConvaTec’s audited 2007 financial statements and closing working capital. ConvaTec is a leader in the development and marketing of innovative wound therapeutics and ostomy care products.
  
  The transaction is subject to customary regulatory approvals and delivery of ConvaTec’s audited 2007 financial statements. The closing is anticipated in the third quarter of 2008.
  
  
• Whiting Petroleum Corporation (NYSE: WLL) has entered into a purchase and sale agreement with Chicago Energy Associates, LLC to purchase interests in producing gas wells and development acreage in the Flat Rock Natural Gas Field in Uintah County, Utah. The acquisition also includes gas gathering facilities. The purchase price is $365 million with an effective date of January 1, 2008.
  

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

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