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12/13/13 03:35:02 PM
TAKEOVER TALK

LAST SIX WEEKS 11/08/2013 through 11/04/2013

Company Symbol Date Price Comment
SANTARUS, INC. SNTS 11/08/2013 23.22 SNTS, SALIX PHARMA announce they have entered into a definitive merger agreement under which SLXP will acquire all of the outstanding SNTS stock for $32.00 per share in cash (without interest). The all-cash transaction values SNTS at approximately $2.6B. Separately, SNTS posts $0.45 vs. $0.18 Q3 non-GAAP adj. EPS on 81% revenue rise.
RDA MICROELECTRONICS, INC. RDA 11/07/2013 17.21 RDA says it received an $18-per-American despositary share (ADS) cash buyout proposal from China's state-owned Tsinghua Holdings Co. Ltd. , which is funded by Tsinghua University. Notes it is continuing to review and evaluate this proposal along with a previously disclosed $15.50/ADS takeover proposal (Sept. 27) from Shanghai Pudong Science and Technology Investment Co. Ltd. No decision has been made with respect to RDA's response to either proposal or other potential alternatives.
MINDSPEED TECHNOLOGIES INC. MSPD 11/06/2013 5.01 MSPD says it agreed to be acquired by M/A-COM TECHNOLOGY SOLUTIONS for $5.05 per share in cash. The transaction value is about $272M in diluted equity value.
MORGANS HOTEL GROUP CO. MHGC 11/04/2013 7.80 MHGC confirms it received a letter from The Yucaipa Cos containing an unsolicited and conditional proposal to acquire co. for $8.00 per share. Says it will carefully review the proposal with its financial and legal advisors. Advises shareholders not to take any action at this time.
UTSTARCOM HOLDINGS CORP. UTSI 11/04/2013 2.49 UTSI says an offer to take UTSI private by its director Hong Liang Lu and Shah Capital Opportunity Fund LP has been withdrawn. In addition, UTSI says Himanshu H. Shah has been added as a director to the UTSI board.
BERRY PETROLEUM CO. BRY 11/04/2013 52.41 LINN ENERGY LLC, LINNCO LLC, BRY say its boards of directors approved amended merger deal. LNCO to increase number of common shares it's issuing to 1.68 common shares from 1.25 common shares, for each common share of BRY outstanding prior to merger for total consideration of ~$4.9B, incl. assumption of debt. Deal, which is structured as stock-for-stock merger of BRY with LNCO followed by acquisition of BRY assets by LINE is expected to be tax-free to BRY shareholders.
BLACKBERRY LIMITED BBRY 11/04/2013 6.78 BBRY announces an agreement for Fairfax Financial Holdings and other institutional investors to invest in BBRY through a $1B private placement of convertible debentures. The agreement marks the conclusion of review of strategic alternatives announced by BBRY on 8/12/13. Thorsten Heins will step down as CEO and John Chen will serve as interim CEO pending completion of a search for a new CEO.
CHATHAM LODGING TRUST CLDT 11/04/2013 20.26 In 13D filing, BlueMountain Capital Management LLC (on behalf of certain funds it manages) proposes to acquire CLDT at a cash price of $21.50 per share. Notes the offer represents an approximate 25.4% premium to $17.14 (the estimated weighted average offering price of the two recent equity offerings in which CLDT increased its market capitalization by approximately 46.8%).
ANAREN, INC. ANEN 11/04/2013 27.75 ANEN announces a definitive merger agreement that calls for ANEN to be acquired by an affiliate of The Veritas Capital Fund IV L.P. for $28.00 per share in cash, or about $381M. ANEN also announced that it has postponed its Nov. 6, 2013, annual shareholder meeting and will schedule a special meeting of shareholders as soon as possible to approve and adopt the agreement and merger.

 

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