Changes to "Top 50 Takeover Targets" List; ID, NZ Removed; CRXL, KCP, DMND Added
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StreetInsider.com made a number of changes to its editorially reviewed "Top 50 Takeover Targets" list at M&A Central today.
L-1 Identity Solutions Inc. (NYSE: ID) and Netezza Corporation (NYSE: NZ) were removed from the list following the acquisitions of both of the companies.
L-1 Identity was acquired by Safran for $12.00 per share, a more than 20 percent premium to Friday's close. L-1 Identity formally announced it would explore a sale of the company in March of 2010. Before being removed, L-1 Identity was number 16 on the list.
Netezza agreed to be acquired by IBM (NYSE: IBM) for $27 per share, a 10 percent premium to Friday's close. Shares of Netezza are up 63 percent in the last month on takeover speculation, which were first mentioned at StreetInsider.com on September 7. Netezza was listed as an "Other' takeover target.
StreetInsider.com also had a number of addition to the "Top 50" list.
Crucell NV (Nasdaq: CRXL) debuted at number 1 after announcing it was in "advanced negotiations" to be acquired by Johnson & Johnson (NYSE" JNJ) for EUR24.75. While upside will likely be limited, a definitive agreement is expected to be consummated soon.
Kenneth Cole Productions (NYSE: KCP) debuted at number 7, following reports the company is in talks to be acquired by Iconix Brand Group (Nasdaq: ICON). While the reports are vague, a deal does make sense according to Wall Street sources.
Diamond Foods, Inc. (Nasdaq: DMND) debuted at number 13 following reports a deal to merge with Proctor & Gamble Co. (NYSE: PG) Pringles unit broke down due to concerns about the structure of the deal. The deal would have been $1.5 billion, which is substantially above the current market value of $900 million. Some see a deal eventually coming back to the table.
Track on the developments in M&A with StreetInsider.com's M&A Central.
L-1 Identity Solutions Inc. (NYSE: ID) and Netezza Corporation (NYSE: NZ) were removed from the list following the acquisitions of both of the companies.
L-1 Identity was acquired by Safran for $12.00 per share, a more than 20 percent premium to Friday's close. L-1 Identity formally announced it would explore a sale of the company in March of 2010. Before being removed, L-1 Identity was number 16 on the list.
Netezza agreed to be acquired by IBM (NYSE: IBM) for $27 per share, a 10 percent premium to Friday's close. Shares of Netezza are up 63 percent in the last month on takeover speculation, which were first mentioned at StreetInsider.com on September 7. Netezza was listed as an "Other' takeover target.
StreetInsider.com also had a number of addition to the "Top 50" list.
Crucell NV (Nasdaq: CRXL) debuted at number 1 after announcing it was in "advanced negotiations" to be acquired by Johnson & Johnson (NYSE" JNJ) for EUR24.75. While upside will likely be limited, a definitive agreement is expected to be consummated soon.
Kenneth Cole Productions (NYSE: KCP) debuted at number 7, following reports the company is in talks to be acquired by Iconix Brand Group (Nasdaq: ICON). While the reports are vague, a deal does make sense according to Wall Street sources.
Diamond Foods, Inc. (Nasdaq: DMND) debuted at number 13 following reports a deal to merge with Proctor & Gamble Co. (NYSE: PG) Pringles unit broke down due to concerns about the structure of the deal. The deal would have been $1.5 billion, which is substantially above the current market value of $900 million. Some see a deal eventually coming back to the table.
Track on the developments in M&A with StreetInsider.com's M&A Central.
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