Mergers >>>

    CME Seen as Next Bidder for NYSE

    IntercontinentalExchange Inc.’s deal to buy NYSE Euronext is pressuring CME Group Inc., the world’s largest operator of futures exchanges, to mount a response. ICE is purchasing NYSE Euronext in an $8.2 billion transaction announced yesterday to expand into European derivatives as well as U.S. stocks and options. Even before the bid, Atlanta-based ICE was forecast to [...]

    Deal Roster: Bank of America Helps Sell Alterra Capital, the Reinsurer It Helped Form

    Bank of America Corp. bankers helped form the reinsurer Alterra Capital Holdings Ltd. in 2010, advising Moore Bacon’s Max Capital Group Ltd. on its $1.5 billion combination with Harbor Point Ltd. that became Alterra. Their firm also worked with Max Capital Group in 2009 on a $1 billion merger offer from IPC Holdings Ltd. that IPC’s shareholders ultimately rejected. Click here to continue reading [...]

    Ralcorp Didn’t Seek Other Bidders Before ConAgra Deal

    Ralcorp Holdings Inc., the maker of store-brand foods that agreed to a $6.7 billion acquisition by ConAgra Foods Inc. last month, didn’t contact any other potential buyers because it had received no other overtures in the year and a half since ConAgra’s interest became public, according to a Dec. 12 preliminary proxy filing. To continue reading click here.

    HP Breakup Mooted as Takeovers Exceed Equity

    Hewlett-Packard Co.’s value has plunged to less than the $31 billion it spent during a five-year takeover binge, the strongest evidence yet that investors would be better served by disassembling the maker of consumer laptops, printers and corporate servers. To continue reading click here

    DEAL ROSTER: Credit Suisse Advises Freeport on McMoRan and Plains Acquisitions

    Freeport-McMoRan Copper & Gold Inc., a global mining company, agreed Dec. 5 to buy two related oil and gas companies: Plains Exploration & Production Co. and McMoRan Exploration Co. The cash-and-stock Plains acquisition was valued at $10.2 billion at announcement, including debt, but that fell to about $9.5 billion yesterday after investors drove down Freeport’s shares [...]

    Investors Give Acquirers a Boost in 2012

    When ConAgra Foods Inc. said on Nov. 27 it would buy Ralcorp Holdings Inc. for $6.7 billion, ConAgra’s stock climbed 4.7 percent. Similarly, when M&T Bank Corp. agreed to buy Hudson City Bancorp for about $4.3 billion Aug. 27, M&T shares shot up 4.6 percent the day of the announcement. To continue reading click here

    Western Wind Seen Luring Bids to Top Offer

    Traders are betting Western Wind Energy Corp.’s executives will persuade suitors to top what’s already the most expensive valuation for an alternative-energy takeover on record. Shares of Western Wind, the Vancouver-based operator and developer of wind farms and solar projects that put itself up for sale in July, closed yesterday 11 percent above a C$2.50-a-share proposal from Brookfield [...]

    Deal Roster: Jefferies Advised Itself on Its Own Takeover by Leucadia National

    Jefferies Group Inc. bankers have worked on more than 100 deals this year, a total that now includes the sale of their own firm. That puts Jefferies just one spot outside the top 20 financial advisers on mergers and acquisitions globally, according to data compiled by Bloomberg. Leucadia National Corp., an investment firm and Jefferies’ biggest shareholder, agreed yesterday to acquire the 71.4 percent [...]

    Dish Seen Falling to DirecTV as Growth Stalls

    Dish Network Corp.’s stagnating growth is increasing the pressure on Chairman Charlie Ergen to combine with rival DirecTV, 10 years after a failed attempt. Ergen said this week that the two largest U.S. satellite-TV providers “have to consider” a deal, potentially joining a rush of consolidation in the telecommunications, cable and satellite-TV industries that has already topped [...]

    Stifel, KBW Advised by Own Investment Banking Units in $575 Mln De

    KBW Inc. and Stifel Financial Corp. were advised by their own investment banking subsidiaries, as KBW agreed to be acquired by Stifel in a $575 million deal. The companies said the combination will form the financial sector’s top M&A adviser. KBW was advised by its Keefe Bruyette & Woods unit and by Bank of America Corp. Stifel was advised by Steifel Nicolaus & Co., and [...]

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