Notable Mergers and Acquisitions of the Day 1/18 (SYMC, NYX, PFGC, BX)

January 18, 2008 9:14 AM EST Notable Mergers and Acquisitions of the Day:

  • Symantec Corp. (Nasdaq: SYMC) signed a definitive agreement to sell its Application Performance Management (APM) business to Vector Capital, a San Francisco-based private equity firm.

    The transaction, which is subject to certain customary conditions, it expected to close by the end of the first calendar quarter of 2008.

  • NYSE Euronext (NYSE: NYX) announced it has entered into a definitive agreement to acquire the American Stock Exchange (Amex) for $260 million in common stock. Additionaly, Amex members will be entitled to receive additional shares of NYSE Euronext common stock based on the net proceeds from the expected sale of Amex’s lower Manhattan headquarters.

  • Performance Food Group Company (NASDAQ: PFGC) signed a definitive merger agreement to be acquired by an affiliate of The Blackstone Group (NYSE: BX) and Wellspring Capital Management in a transaction valued at approximately $1.3 billion. Under the terms of the merger agreement, Performance Food Group shareholders will receive $34.50 in cash for each outstanding share of Company common stock they hold representing a premium a 42.6% over yesterday's closing share price of $24.19.

    The transaction is not subject to any financing condition to the obligations of Blackstone and Wellspring. Under the terms of the Merger Agreement, Blackstone and Wellspring are obligated to pay the Company an aggregate $40 million termination fee if they breach their obligation to consummate the transaction. The Company will also solicit superior proposals from third parties during the next 50 days.

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