Mergers and Acquisitions Recap: NYSE Euronext Deal is Dead, Dillard’s Buys E-commerce Startup

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NYSE Euronext (NYSE:NYX) attempts at a merger, failed with Deutsche Boerse (DBOEY.PK) and it tries to slide the failure under the rug by saying that it will resume a program to buy back $550 million in shares, and that it will look to grow its derivatives business.

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Georgia Gulf (NYSE:GGC) rejects an offer from Westlake Chemical (NYSE:WLK). The offer consisted of buying it out right for $35 per share. The answer “no” is part of GGC’s repertoire.

Dillard’s (NYSE:DDS) buys a $4 million stake in an ecommerce startup. Acumen Brands is now looking to enhance its own online presence after the deal.

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Savient Pharmaceuticals (NASDAQ:SVNT) shares nosedive right after Dendreon (NASDAQ:DNDN) cuts its Chief Executive Officer. John Johnson will take the helm at DNDN on June 30 after only one year at SVNT. Deutsche Bank AG (NYSE:DB) says Johnson has a history of M&A and his new perspective might benefit DNDN’s near-term strategy. DB noted his success in selling Imclone to Eli Lilly and his attempts at selling SVNT.

Praxair (NYSE:PX), a gas supplier, is selling its advanced components business. This business makes products for chip equipment gear, for a subsidiary of Japan’s NGK Insulators. Separately, the Wall Street Journal reports Praxair sold $600 million in ten-year notes at a yield of just 2.5%.

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To contact the reporter on this story: at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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