Notable Mergers and Acquisitions of the Day 6/4 (SJM/PG, NVS, GD/HLTH, IACI)

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June 4, 2008 9:48 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

The J. M. Smucker Company (NYSE: SJM) and The Procter & Gamble Company (NYSE: PG) signed a definitive agreement to merge the Folgers coffee business into The J. M. Smucker Company in an all-stock reverse Morris Trust transaction valued at approximately $3.3 billion, including the assumption of an estimated $350 million of Folgers debt.

As part of the transaction, Smucker will issue a one-time special dividend of $5 per share to Smucker shareholders as of the record date, prior to the merger.

Following this one-time special dividend, P&G shareholders will receive approximately 53.5 percent of Smucker in a tax-free stock-for-stock merger.
Novartis AG (NYSE: NVS) today announced that it has agreed to purchase antibiotics developer Protez Pharmaceuticals Inc. for up to $400 million.

According to the terms of agreement, Novartis will initially pay $100 million with the potential for additional payments of up to $300 million depending on the success of Protez's new antibiotic, currently in Phase 2 trials.
General Dynamics Information Technology, a business unit of General Dynamics (NYSE: GD), entered into a definitive agreement to acquire ViPS, Inc., a wholly-owned subsidiary of HLTH Corporation (Nasdaq: HLTH), for approximately $225 million.
IAC/InterActive (Nasdaq: IACI) and MH Equity Investors announced today that MH Equity Investors has acquired Entertainment Publications, Inc., a leading provider of discounts and promotions, from IAC for $135 million.