Mergers and Acquisitions Recap: Deals and Rumors of the Week

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Another week is in the books and deals continue to flow through the pipeline. In case you missed anything, we’ve got your Cheat Sheet to all the big deals and juicy mergers and acquisitions rumors of the week:

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Intel (NASDAQ:INTC), Apple (NASDAQ:AAPL), Ericsson (NASDAQ:ERIC), and RPX (RPXC) are all competing with Google (NASDAQ:GOOG) to purchase Nortel‘s 6,000 patents and patent applications. Google has already bid $900 million. The auction is set for June 27.

Harbin Electric (NASDAQ:HRBN) has agreed to be taken private in a $750 million deal with Cayman Islands-based Tech Full Electric Company Limited. Harbin shares have fallen 64% since the initial bid last October, but have jumped up 54.19% already this morning to $12.93 a share, though still well below the deal’s $24/share valuation.

ING (NYSE:ING) is in talks to sell its European car leasing business as part of a program of assets sales ordered by the European Commission as terms of the state aid received during the financial crisis.

PNC (NYSE:PNC) has confirmed that they are buying  Royal Bank of Canada‘s (NYSE:RY) U.S. retail banking arm for $3.62 billion.

Tower Bancorp (NASDAQ:TOBC) shares skyrocketed 33% in pre-market trading after Susquehanna Bancshares (NASDAQ:SUSQ) announced late yesterday that it will acquire the Pennsylvania bank in a cash-and-stock deal valued at $343 million.

EMI is considering a sale, recapitalization, or IPO only four months after it was seized by Citigroup (NYSE:C) when its parent, Terra Firma, failed to pay its debts. Analysts expect EMI to be a hot sale or stock.

AstraZeneca (NYSE:AZN) is in talks to sell its Swedish healthcare and dental unit, Astra Tech, to Dentsply (NASDAQ:XRAY) in a sale that could bring in $1.8 billion. The two companies are in exclusive talks after Dentsply outbid all other interested parties.

Foster’s Group (PINK:FBRWY) rejected a $10 billion cash offer from SABMiller (PINK:SBMRY) this morning, but analysts expect SABMiller to come back with a higher bid. Foster’s has also been getting attention lately from Mexican brewer Modelo (MXK:GMODELOC) and Molson Coors (NYSE:TAP), who have sought a joint bid.

AstraZeneca (NYSE:AZN)has sold its dental unit, including Astra Tech dental and a medical device business, in an all-cash $1.8 billion deal with Dentsply (NASDAQ:XRAY). The deal is set to close at the end of the year, and should immediately increase Dentsply’s earnings per share as it becomes the third-largest dental implant company in the world.

Hulu has had an unsolicited takeover offer from an unknown bidder — speculators are pointing to Yahoo (NASDAQ:YHOO). The video streaming website was founded by NBCUniversal (NASDAQ:CMCSA), the News Corporation (NASDAQ:NWSA), the Walt Disney Company (NYSE:DIS), and Providence Equity Partners. The Hulu board is meeting with advisers to weight their options.

AT&T (NYSE:T) is confident that their planned takeover of T-Mobile will go through early next year despite current investigations by the Justice Department and the FCC into whether the deal with violate antitrust laws. With the merger, just two mobile carriers — AT&T/T-Mobile and Verizon (NYSE:VZ) — would account for 80% of U.S. wireless contract customers. AT&T hopes the acquisition will help them deal with issues like dropped calls and slow data service.

Citigroup (NYSE:C) announced this week that they are looking to sell British record label EMI, and there has been no shortage of interested parties. Citi might stand a chance of recovering a large portion of the money they lost from EMI’s previous owner, private equity firm Terra Firma, after lending them $5.2 billion in 2007 that was never paid back. Interested parties include Alec Gores, who lost last month’s auction of Warner Music Group (NYSE:WMG), as well as Len Blavatnik, who won WMG. Universal Music Group is also rumored to be interested in the company.

PopCap Games is in acquisition discussions with other video-gaming company Electronic Arts (NASDAQ:ERTS) for a deal that could total over $1 billion. EA is hoping to venture into the market for mobile and casual gaming, and PopCap owns some popular smartphone games.

Brazil-based mining company Vale SA (NYSE:VALE) has offered to buy all shares of its fertilizer unit, Vale Fertilizantes SA (SAO:FFTL4), that it doesn’t already own in a deal valued at $1.4 billion, a 32% premium on yesterday’s closing share price. Vale SA hopes to triple potash and phosphate rock output by 2015 to meet Brazil’s rising demand for crop nutrient for the country’s biggest crops: sugar cane, coffee, and oranges.

Samsung SDS Co. plans to make a joint offer for logistics company Korea Express (SEO:000120) with steelmaker Posco (NYSE:PKX). Other companies expressing interest in Korea Express since its owners, Daewoo (SEO:047050) and Asiana Airlines, announced it was for sale are Lotte Group and CJ Group, both submitting preliminary bids back in March along with Posco.

Last week, private equity firms Leonard Green and CVC Capital made an offer to buy BJ’s Wholesale (NYSE:BJ) for an undisclosed sum, rumored to be about $50 per share. With shares currently trading at $47.36, BJ’s is reportedly holding out for more money, hoping to get the offer up to $55 a share.

Apple (NASDAQ:AAPL) has received approval from U.S. antitrust regulators to bid on the assets of bankrupt Nortel Networks Corp. Nortel has agreed to sell the 6,000 patents to Google (NASDAQ:GOOG) for $900 million unless they receive a larger offer at a June 27 auction.

Williams Companies (NYSE:WMB) announced a $4.9 billion takeover bid for Southern Union Company (NYSE:SUG). The deal would pay $39 a share, making it more attractive than the $4.2 billion all-stock offer from Energy Transfer Equity (NYSE:ETE), which would offer Williams shareholders special partnership units worth $33 a share.

A.I.G.‘s (NYSE:AIG) former headquarters, located at 70 Pine St. in Manhattan, has been sold to Metro Loft Management, in partnership with Ron Bruckner, for $205 million. The seller of the art deco building was not A.I.G., but South Korea-based Kumho Investment Bank. The 66-story building, recently designated a landmark by the New York City Landmarks Preservation Commission, will be converted into residential space.

Providence Equity Partners is said to be nearing a deal to acquire educational software provider Blackboard (NASDAQ:BBBB). They are currently in exclusive discussions with the company and a deal is expected as soon as next week. As of yesterday, Blackboard had a market value of $1.4 billion. In 2010, the company earned $16.6 million on $447.3 million in revenue.

Sears (NASDAQ:SHLD) has plans to spin off its Orchard Supply Hardware chain. The chain has 89 retail hardware stores in California, and brought in $8.7 million in profit on $660 million in revenue last year. Orchard’s IPO is expected to bring in $82 million.

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