M&A Weekly Recap: Google Presents to the EU, ConAgra Grabs Del Monte Canada

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Georgia Gulf’s (NYSE:GGC) board discarded Westlake Chemical’s (NYSE:WLK) unsolicited $30/share acquisition bid and instead, goes with a shareholder rights plan, saying yesterday that the proposal is “financially inadequate and not in the best interest of Georgia Gulf stockholders.”

Royal Bank of Scotland Group (NYSE:RBS) is offloading its aircraft leasing division to Sumitomo Mitsui Financial Group (NYSE:SMFG) for $7.3B, a hair higher than the whisper number and RBS’s greatest single dumping of assets since its 2008 bailout.

Blackbaud (NASDAQ:BLKB) buys Convio (NASDAQ:CNVO) for $16 per share in a deal that the non-profit accounting software company says will be accretive to 2012 earnings and add considerable cash flow.

Sources say AIA Group, an AIG (NYSE:AIG) subsidiary, is thinking about a bid for ING’s (NYSE:ING) $6B Asian insurance operations, and has asked four banks to put their hats in the ring for advisory roles for a possible offer. The  sale of the business is anticipated to draw a great deal of interest.

Valeant Pharmaceuticals (NYSE:VRX) upped its offer for ISTA Pharmaceuticals (NASDAQ:ISTA) to $7.50/share from a first offer of $6.50/share, setting a target price of $8.50/share subject to a week of due diligence, according to ISTA. While ISTA officials say they’re considering the new offer, they are still talking with other companies.

Venoco (NYSE:VQ) CEO Timothy Marquez will buy the Denver-based energy firm, taking it private at $12.50/share. Marquez, along with affiliated trusts and foundations, will own Venoco.

Exelon’s (NYSE:EXC) $7.9 billion acquisition of Constellation (NYSE:CEG) had opposition from the Environmental Defense Fund, but it has since withdrawn its issue, after EXC agreed to a deal that will protect the operating independence of the French utility’s nuclear joint venture with Constellation.

ConAgra (NYSE:CAG) purchased Del Monte Canada from Sun Capital Partners for an undisclosed sum. Del Monte Canada owns the rights to label canned peaches and Chef Boyardee, but it’s separate from Del Monte Foods (NYSE:KKR), Fresh Del Monte (NYSE:FDP) and still other iterations.

Don’t Miss: Companies Shrinking Their Share Numbers.

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.

Vulcan Materials (NYSE:VMC) received 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.

Don’t Miss: EU Expected to Put a Halt to NYSE Euronext Merger with Deutsche Boerse.

Deutsche Borse and NYSE Euronext (NYSE:NYX), are cleared for the proposed merger by the Securities Exchange Commission, which finds that the merger would comply with securities laws and promote fair trading, even as European regulatory approval grows increasingly doubtful.

Google (NASDAQ:GOOG) presented new documents to strengthen its case in which the European Union is set to rule on February 13. This case will determine whether the European Union will approve GOOG’s acquisition of Motorola Mobility Holdings (NYSE:MMI).

Ezcorp (NASDAQ:EZPW) announced that it acquired a controlling interest in Mexico-based Crediamingo. It also inherited its loan portfolio of 1.25 billion Mexican peso ($92.6 million). Under the terms of the deal, Ezcorp’s total commitment will come to about $58.7 million.

Don’t Miss: Apple Hits New Milestones.

Hertz (NYSE:HTZ) announced it has bought lighting rental provider Cinelease in a move to broaden its presence in a specialty market with stronger revenue growth and margins. The financial terms of the deal weren’t released.

JPMorgan (NYSE:JPM), State Street (NYSE:STT) and Ameriprise Financial (NYSE:AMP) are reportedly some of the finalists bidding for Deutsche Bank’s (NYSE:DB) global asset management division. Deutsche sees the sale bringing in more than €2 billion ($2.6 billion).

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