Merger and Acquisitions Review: Infosys BUYS Lodestone, Magellan REJECTS Stratex
A consultant’s report will probably place a value for Morgan Stanley Smith Barney at around $15 billion, according to The New York Post, which is about halfway between the $22 billion the seller Citigroup Inc. (NYSE:C) judges it to be worth, and the $9 billion value that the buyer Morgan Stanley (NYSE:MS) has placed on it.
Infosys Technologies Limited (NASDAQ:INFY) buys Lodestone Holding, a Swiss information tech consulting firm that is comprised of more than 750 consultants and 200 clients, for 330 million Swiss francs, or $348.9 million. This amount exceeds the $300 million price tag that was said to have been discussed in July.
Magellan Petroleum Corporation (NASDAQ:MPET) reports that its board says that it will not to pursue a bid by Stratex Oil & Gas Holdings to purchase the company. More specifically, the board claims that Stratex failed to respond to a written request for financial statements, oil and gas properties, organizational structure, plus terms and conditions of the “committed financing” for the cash component of the proposed acquisition.
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