M&A Recap: El Paso is Hot, BankUnited Takes Bids

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Toronto-Dominion Bank (NYSE:TD) and BB&T (NYSE:BBT) reportedly submitted preliminary bids late yesterday to buy BankUnited (NYSE:BKU). BankUnited went up for sale last week and is expected to bring in over $2 billion. Despite Florida’s real-estate turmoil and other problems TD and BBT wish to expand in that state.

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Vulcan Materials (NYSE:VMC) receives a civil investigative demand and a second request for additional information from the Department of Justice. The request relates to Martin Marietta’s (NYSE:MLM) $5 billion all-stock bid, which Vulcan has rejected. The Department of Justice wants information about aggregates, asphalt concrete, and ready mix concrete.

Jazz Pharmaceuticals (NASDAQ:JAZZ) ends the suspense and confirms that it will combine with Azur Pharma to form a Dublin-based company.

Canada’s Finning will acquire from Caterpillar (NYSE:CAT) the distribution and support businesses in parts of South America and western Canada and the U.K. In a transaction valued near $465 million, the deal will provide sales, service and support for former Bucyrus mining products in all of Finning’s dealership territories.

Apollo Global Management and Riverstone Holdings, both private-equity firms are making a play for El Paso (NYSE:EP) with a $7 billion bid for assets, reports Reuters. They are joining a growing list of companies interested in buying parts of the pipeline operator

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