Notable Mergers and Acquisitions of the Day 6/17 (CDNS/MENT, JLL, RS, ALU/MOTV)

June 17, 2008 9:56 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Cadence Design Systems, Inc. (Nasdaq: CDNS) submitted a proposal to the Board of Directors of Mentor Graphics Corporation (Nasdaq: MENT) to acquire Mentor Graphics for $16.00 per share in cash.
  
  Cadence's all-cash proposal represents a 30% premium over the closing price of Mentor Graphics common stock on June 16, 2008, the last trading day prior to public disclosure of Cadence's proposal.
  
  
• Jones Lang LaSalle Incorporated (NYSE: JLL) and The Staubach Company have reached a definitive agreement to combine operations.
  
  Under the terms of the agreement, Jones Lang LaSalle will pay $613 million, with $123 million in cash and $100 million in stock paid at the transaction close and the balance paid out in cash over five years, for all of the outstanding capital stock of Staubach Holdings, Inc. The agreement also calls for potential earn out payments of up to $114 million that are subject to the achievement of certain performance metrics measured over a period of up to approximately four and one-half years after the closing.
  
  
• Platinum Equity announced that it has signed a definitive agreement to sell PNA Group, a leading processor and distributor of steel products, to Reliance Steel & Aluminum Co. (NYSE: RS) in a transaction valued at approximately $1.1 billion.
  
  The transaction is expected to be finalized within the next 60 days, subject to normal closing conditions including regulatory approval.
  
  
• Alcatel-Lucent (NYSE: ALU) today announced that it has entered into a definitive agreement to acquire Motive, Inc. (OTC: MOTV) through a cash tender offer for all outstanding Motive shares at a price of $2.23 per share, representing a value of approximately $67.8 million.
  
  The purchase price of $2.23 per share represents a premium of approximately 53% over the closing price of the shares on June 16, 2008 and a premium of approximately 51% over the average closing price of the shares for the 90 days prior to June 16, 2008. The transaction is expected to close by early in the fourth quarter of 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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