Notable Mergers and Acquisitions of the Day 6/30 (AWH/DR, DLM, NNDS/NWS)

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June 30, 2008 9:41 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

Allied World Assurance Company Holdings, Ltd (NYSE: AWH) and Darwin Professional Underwriters, Inc. (NYSE: DR) announced a definitive merger agreement whereby Allied World would acquire Darwin.

Under the terms of the merger agreement, security holders of Darwin will receive approximately $550 million in cash, or $32.00 per share, in exchange for 100% of their interests in Darwin Professional Underwriters, Inc.

Darwin clsoed at $30.20 on Friday.
Del Monte Foods Company (NYSE: DLM) entered into an agreement to sell its seafood business, including StarKist, to Dongwon for $363 million, subject to a working capital adjustment.

In fiscal 2008, the seafood business generated approximately $560 million of net sales and contributed approximately $0.12 (excludes impact from G&A overhead which will remain with Del Monte after the transaction) to earnings per share on a stand-alone basis.

The divestiture is expected to be -$0.03 dilutive to Del Monte's original F09 earnings per share from continuing operations guidance of $0.58-$0.62.
Late Friday, NDS Group plc (Nasdaq: NNDS) confirmed it received a proposal from News Corporation (NYSE: NWS) and two newly incorporated companies formed by funds advised by Permira to acquire the shares not already owned.

Under the proposed deal, all issued NDS Series A ordinary shares, including shares represented by American Depositary Shares traded on NASDAQ, would be cancelled for per share consideration of $60 in cash.