Here’s your Cheat Sheet to this week’s top mergers and acquisition news:
MetLife (NYSE:MET): Current price $36.90
MetLife enters an agreement with BBVA through which to purchase the largest private pension fund administrator in Chile, AFP Provida. Under the agreement, MetLife will conduct a public cash tender offer for all of the outstanding shares of Provida and BBVA will transfer its 64.3 percent stake to MetLife. The purchase price should be around $2 billion.
Clearwire Corporation (NASDAQ:CLWR): Current price $3.20
On Friday, Clearwire filed a preliminary proxy statement linked with its agreement with Sprint Nextel Corporation (NYSE:S) for the latter to buy the remaining 50 percent-interest in Clearwire that it does not already own at $2.97 per share. As previously reported on January 8th, Clearwire received an unsolicited, non-binding proposal.
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Perrigo Company (NASDAQ:PRGO): Current price $108.30
Perrigo will acquire Velcera at a purchase price of $160 million in cash. The transaction should close during calendar year 2013, assuming the satisfaction of closing conditions, including regulatory approvals. Velcera is a top companion pet health product firm focused upon supplying consumers with best-in-class pet health products containing the same active ingredients as branded veterinary products, but at a lower cost.
News Corp. (NASDAQ:NWS): Current price $28.90
News Corp. has just about finalized its divestiture of its IGN gaming business to the business cloud provider Ziff Davis, a company which is now owned by J2 Global, according to inside sources. Although the purchase price in the deal is unknown, sources say that News Corp. acquired IGN for $650 million in late 2005 and that this transaction is considerably lower. IGN has been on the block for the past half-year following a failed attempt to spin it off.
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