Notable Mergers and Acquisitions of the Day 7/1: BORL, BLL, HRSH
- On June 30, 2009, Borland Software Corporation (Nasdaq: BORL) entered into a Second Amendment to Agreement and Plan of Merger by and among Bentley Merger Sub, Inc., Micro Focus International plc, Micro Focus, Inc. and the Company, dated May 5, 2009, as amended on June 17, 2009.
The Second Amendment provides that (i) the merger consideration under the merger agreement increased from $1.15 to $1.50 per share in cash and (ii) the termination fee payable in certain circumstances increased from $4 million to $5.2 million. The Merger Agreement otherwise remains in full force and effect. The Board of Directors of Borland Software approved the Second Amendment on June 30, 2009.
- Ball Corporation (NYSE: BLL) announced that it has signed a definitive agreement with Anheuser-Busch InBev (AB InBev) to acquire certain of AB InBev's beverage can manufacturing assets.
Ball will acquire four of AB InBev's plants in the U.S. for $577 million. The facilities being acquired are beverage can manufacturing plants in Rome, Ga.; Columbus, Ohio; and Ft. Atkinson, Wis., and a beverage can end manufacturing plant in Gainesville, Fla.
- Hirsch International Corp. (NASDAQ: HRSH) received a letter from Paul Gallagher, President, Chief Executive Officer and Chief Operating Officer of the Company, proposing to acquire, through acquisition entities to be formed by him, all of the outstanding shares of the Company's Class A and Class B Common Stock, for $0.28 per share in cash, other than shares held by Mr. Gallagher and any investor that may invest in his acquisition entities. Mr. Gallagher's letter provided that his offer was subject to conditions contained in the letter, and that his offer would expire on June 25, 2009.
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