Notable Mergers and Acquisitions of the Day 9/10: IMCL/BMY, VSH/IRF, MSFT/SRVY
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More News related to IMCL
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More News related to IRF
- IR's IR1168 SmartRectifier(TM) IC Wins EDN China Innovation Award 2009 for Best Power Device
- IR Receives Environmental Awareness Award from NMI
- IR's Automotive-Qualified IGBT with Solderable Front Metal Delivers Improved Thermal Performance and Higher Reliability
- International Rectifier Announces Preliminary Results of 2009 Annual Meeting
- International Rectifier (IRF) Posts Q1 Loss of $0.24, Narrower than Estimates; Guides
- ImClone Systems (NASDAQ: IMCL) Chairman, Carl Icahn, stated that the Special Committee of ImClone's Board of Directors has informed Bristol-Myers Squibb Company (NYSE: BMY) that it has determined that the $60 per share unsolicited offer is inadequate.
Mr. Icahn also announced he has had several conversations with the Chief Executive Officer of a large pharmaceutical company. As a result of such conversations, the pharmaceutical company has submitted a proposal, subject to due diligence, but not subject to financing, to acquire ImClone for $70 per share in cash. The Special Committee has determined, subject to the execution of a confidentiality agreement, to allow this company to conduct due diligence for a two week period, subject to extension by mutual consent. No determination has been made as to whether $70 per share would be adequate.
- Vishay Intertechnology, Inc. (NYSE: VSH) increased the price of its all-cash proposal to acquire all of the outstanding shares of International Rectifier Corporation (NYSE: IRF) common stock to $23.00 per share.
This is up from the $21.22 per share past offer which International Rectifier rejected.
Shares of International Rectifier closed at $21.10 yesterday.
- Microsoft Corp. (Nasdaq: MSFT) and Greenfield Online Inc. (Nasdaq: SRVY) today announced that in connection with the acquisition agreement between the two companies, announced on Aug. 29, 2008, Microsoft has signed an agreement to sell the Greenfield Online Internet survey solutions business to ZM Surveys LLC, a private equity investment partnership focused on entertainment and media investments.
The agreement with ZM Capital is subject to customary closing conditions, including a financing contingency. Microsoft's acquisition of Greenfield Online is not contingent on the closing of the sale of ISS to ZM Capital. The merger of Greenfield Online and Microsoft and Microsoft's sale of the ISS business are expected to close simultaneously in Q408.
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