Notable Mergers and Acquisitions of the Day 05/13: (YUM) (ATO) (SBLK)

• Yum! Brands Inc., (NYSE: YUM) and Little Sheep Group Ltd. jointly announced that on 2 May 2011, Yum! requested the board of directors of Little Sheep to put forward a pre-conditional proposal for the privatization of Little Sheep by way of a scheme of arrangement.
  
  Under the Proposal, Yum! will, through an indirectly wholly owned subsidiary, offer Little Sheep shareholders HK$6.50 cash per Scheme share.
  
  
• Atmos Energy Corporation (NYSE: ATO) has entered into an agreement to sell all of its natural gas distribution assets located in Missouri, Illinois and Iowa to Liberty Energy (Midstates) Corporation, an affiliate of Algonquin Power & Utilities Corp., in a $124 million deal.
  
  The transaction will include the transfer of approximately 84,000 meters and is expected to close in fiscal 2012, after the receipt of all necessary regulatory approvals.
  
  
• Star Bulk Carriers Corp. (Nasdaq: SBLK) announced that it has entered an agreement for the acquisition of two Capesize bulk carriers for an aggregate purchase price of approximately $51.5 million.
  
  From the release: "The first Capesize vessel has a carrying capacity of approximately 168,000 dwt and was built in South Korea in 1996. This vessel has a time charter agreement with a major mining company until November 2015 at the earliest, at a gross daily rate of $25,000. The vessel is expected to generate $38-44 million in gross revenue and is currently expected to be delivered to Star Bulk within July 2011.
  
  The second Capesize vessel has a carrying capacity of approximately 170,000 dwt and was built in Japan in 1994. This vessel has a time charter agreement with a major mining company until August 2014 at the earliest, at a gross daily rate of $24,500. The vessel is expected to generate $26-31 million in gross revenue and is currently expected to be delivered to Star Bulk within July 2011."

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