Notable Mergers and Acquisitions of the Day 7/18 (MER, MSFT/YHOO, TEVA/BRL)
More News related to BRL
- Teva (TEVA) and Barr (BRL) Receive FTC Second Request Regarding Pending Acqusition
- Teva and Barr Receive FTC Request for Additional Information
- Teva and Barr Receive FTC Request for Additional Information
- Mylan (MYL) Subsidiary Announces Favorable Court Ruling Against Barr Labs (BRL)
- Barr Labs (BRL) Receives Final FDA Approval for Generic Version of Razadyne(R) Tablets
More News related to MER
- Merrill Lynch to Announce Third Quarter 2008 Results on October 16
- Alberto Cribiore Resigns from Merrill Lynch Board of Directors
- Analyst Reports for Corning Incorporated, Merrill Lynch & Co. Inc., Hecla Mining Company and Companhia Vale do Rio Doce
- Merrill Lynch (MER) Names Nierneberg as Global Head of Mortages and Securitized Products and De Mare as Head of Mortgage Trading
- Merrill Lynch Hires Michael Nierenberg as Global Head of Mortgages and Securitized Products and James De Mare to Run Mortgage Trading
More News related to MSFT
- Microsoft Showcases Windows Media Center Momentum at CEDIA EXPO 2008
- Google Chrome (GOOG) Already Making Inroads
- Microsoft and Sony Celebrate Joint Video Team Standards Committee Primetime Engineering Emmy
- The Moment Is Now: At $199, Xbox 360 Invites Everyone to Play
- Microsoft (MSFT) Cutting Prices on XBOX
More News related to Special Reports
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- Trading Radar for 9/5: National Semiconductor (NSM) Reports; Unemployment Rate, Nonfarm Payrolls for August Due
- Unusual 11 Mid-Day Movers 9/4: CAPA, TGIC, HAYZ, PSS Higher; CIEN, VOL, BTH, TEX Lower
- Notable Analyst Rating Changes 9/4: SAI, STLD Upgraded; MRVL, LM, FRX Downgraded
- Notable Mergers and Acquisitions of the Day 9/4: OTEX/CAPA, THRM, RHT
StreetInsider.com Notable Mergers and Acquisitions of the Day:
- Merrill Lynch (NYSE: MER) completed the sale of its 20% ownership stake in Bloomberg, L.P. to Bloomberg Inc., for $4.425 billion, and as part of this transaction has entered into a long-term service agreement.
Merrill Lynch is also in negotiations and has signed a non-binding letter of intent to sell a controlling interest in Financial Data Services, Inc., based on an enterprise value for FDS in excess of $3.5 billion. FDS is currently a wholly-owned subsidiary of Merrill Lynch and is a provider of administrative functions for mutual funds, retail banking products and other services within Global Wealth Management.
- Microsoft (Nasdaq: MSFT) will pay Yahoo! (Nasdaq: YHOO) shareholders $19.50 per share for Search, would also buy $3.9 billion in Yahoo! stock - Bloomberg
- Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and Barr Pharmaceuticals, Inc. (NYSE: BRL) have signed a definitive agreement under which Teva will acquire Barr, the fourth largest generic drug company worldwide. Under the terms of the agreement, each share of Barr common stock will be converted into $39.90 in cash and 0.6272 Teva ADRs. Based upon the unaffected NASDAQ closing price of Teva’s ADRs on July 16, 2008, the indicated combined per share consideration for each outstanding share of Barr common stock amounts to $66.50, or a total consideration of $7.46 billion plus the assumption of net debt of approximately $1.5 billion.
Teva expects the transaction to close in late 2008 and to become accretive to GAAP earnings in the fourth quarter after closing. This purchase price represents a premium of 32% to Barr’s average daily closing price on the New York Stock Exchange for the 52-week period ending on July 16, 2008, and 42% to the closing price on July 16, 2008.
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