Notable Mergers and Acquisitions

eBay Inc. (NASDAQ: EBAY) today announced that the investor group led by Silver Lake, which had previously entered into a definitive agreement to acquire a majority stake in Skype from the company, has reached a settlement agreement with Joltid Limited and Joost N.V. that gives Skype ownership over all software previously licensed from Joltid and ends all litigation currently pending against the investor group and eBay at the closing of the acquisition.

As part of the settlement agreement, Joltid and Skype founders Niklas Zennstrom and Janus Friis will join the investor group, contributing Joltid software and making a significant capital investment in exchange for a 14 percent stake in Skype. As a result, Silver Lake and other investors including Andreessen Horowitz and the Canada Pension Plan Investment Board, will together hold 56 percent of Skype and eBay will retain 30 percent. As previously announced, eBay will receive approximately $1.9 ...

Agrium Inc. (NYSE: AGU) today announced that it is increasing its exchange offer to acquire all of the outstanding shares of CF Industries Holdings, Inc. (NYSE: CF) to $92.99 per CF share based on Agrium's closing stock price on November 4, 2009. Under the terms of this best and final offer, CF stockholders would receive $45.00 in cash, an increase of $5.00, or 12.5 percent, in the cash consideration, and one common share of Agrium for each CF share.

This offer provides a premium of over 67 percent to CF's closing price on February 24, 2009, the day before Agrium announced its initial proposal, and about ...

Terra Industries Inc. (NYSE: TRA) announced that its Board of Directors, with the advice of its financial and legal advisors, has carefully reviewed CF Industries Holdings, Inc.'s (NYSE: CF) latest proposal to acquire Terra for the equivalent of $24.50 in cash (which equals the net value of CF's announced offer of $32.00 that will be reduced by Terra's previously declared $7.50 per share special cash dividend) and 0.1034 of a share of CF common stock, and unanimously rejected it as inadequate, opportunistic and not in the best interests of Terra and its shareholders.

In rejecting CF's latest proposal, the Board considered a number of factors, including the following:

* CF's proposal significantly undervalues Terra's near term and long term prospects, as illustrated by the following:
o CF's November 2, 2009 presentation justifies its inadequate ...

In a surprise move this morning, Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.a) (NYSE: BRK.B) has agreed to purchase Burlington Northern Santa Fe Corp. (NYSE: BNI) for a price tag of $44 billion, including $10 billion of outstanding BNSF debt. This is the largest acquisition ever by Buffet's company.

Berkshire Hathaway will pay $100 a share in the purchase of the railway company, excluding the 22 percent that Buffet's company already owns.

The deal will be primarily composed of Berkshire's "A" share, while the board also approved a 50-1 split of the Company's Class B common stock. On Monday the Berkshire "B" shares closed at $3,265, but after the split each share will be worth around $65.30, based on the current market price.

Shares of Burlington have been driven up by the news, up 29 percent in premarket movement.

"Our country's future prosperity depends on its ...

Late Sunday, CF Industries Holdings, Inc. (NYSE: CF) offered to acquire Terra Industries Inc. (NYSE: TRA) for $32.00 in cash and 0.1034 of a share of CF Industries common stock for each Terra share.

The offer has a value of $40.61 per share, based on Friday's closing price for CF Industries common stock. The offer, which is equivalent to a multiple of 7.1 times trailing 12-months EBITDA, represents a premium of 28% to Terra's closing price on Friday.

CF said Morgan Stanley has committed $2.5 billion to provide the funds required for the transaction.

Terra said they would review the new offer.

On Sunday, Denbury Resources Inc. (NYSE: DNR) announced plans to acquire Encore Acquisition Company (NYSE: EAC) in a transaction valued at approximately $4.5 billion, including the assumption of debt and the value of the minority interest in Encore Energy Partners LP (NYSE: ENP).