Notable Mergers and Acquisitions of the Day 04/15: (CHK)/(BRNC) (IAG) (GGG)/(ITW)

• Chesapeake Energy Corporation (NYSE: CHK) has entered an agreement to acquire Bronco Drilling Company, Inc. (Nasdaq: BRNC) for $11 per share, or total consideration of $315 million, including debt, net working capital and outstanding warrants.
  
  Following the closing of the transaction, Chesapeake will integrate Bronco’s 22 rigs into Chesapeake’s wholly owned subsidiary, Nomac Drilling, L.L.C., which currently owns 95 drilling rigs available for service, of which 90 are currently drilling under contract for Chesapeake.
  
  Closing is expected in Q211.
  
  Johnson Rice & Company L.L.C. is acting as financial advisor to Bronco and has delivered a fairness opinion to its board of directors. Thompson & Knight is acting as legal counsel to Bronco. Jefferies & Company, Inc. is acting as financial advisor to Chesapeake. Commercial Law Group, P.C. and Wachtell, Lipton, Rosen & Katz are acting as legal advisors to Chesapeake.
  
  
• IAMGOLD Corporation (NYSE: IAG) reports that it has agreed to sell its 18.9% interest in the Tarkwa and Damang gold mines in Ghana, West Africa to Gold Fields Limited for $667 million.
  
  Closing is expected on or before July 31, 2011.
  
  
• After the market closed yesterday, Graco Inc. (NYSE: GGG) has entered into a definitive agreement to purchase the operations of the finishing businesses of Illinois Tool Works Inc. (NYSE: ITW) in a $650 million cash transaction. The ITW businesses manufacture and distribute equipment for industrial liquid finishing, powder coating and automotive refinishing, worldwide.
  
  Key attributes of the businesses include: 1) 2010 revenues of $305 million, of which 40 percent were in the Americas and 60 percent elsewhere; 2) Significant operations are located in the United States, Switzerland, United Kingdom, Japan, Brazil and Mexico with sales offices and distribution capabilities in several additional countries; 3) Leading equipment technologies and brands, such as Gema® powder finishing equipment, Binks industrial pumping solutions, DeVilbiss® auto refinish guns and accessories, Ransburg electrostatic guns and accessories and BGK curing technology; 4) Professional management and 900 employees worldwide; and 5) Global manufacturing capabilities/capacity.

To keep up on all the Mergers & Acquisitions data in real-time, go to our new Mergers and Acquisitions Central page.

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