NYSE Euronext Sale Challenged, Covidien Buys CV Ingenuity: Merger and Acquisitions Recap

Asserting that the transaction undervalues NYSE Euronext (NYSE:NYX), a pension fund that holds shares has sued the exchange operator in regards to its proposed $8.2 billion sale to IntercontinentalExchange (NYSE:ICE). On Friday, the New Jersey Carpenters Pension Fund filed a complaint in New York State Supreme Court in Manhattan, charging that NYSE-Euronext breached its duty to get the highest possible returns for shareholders. The lawsuit seeks class-action status on behalf of other NYSE-Euronext shareholders and aims to thwart the sale.

Fushi Copperweld (NASDAQ:FSIN) Green Dynasty Limited, Green Dynasty Acquisition, and Green Dynasty Holdings Limited will merge with and into Fushi and the latter will continue as the surviving corporation and will be a wholly-owned subsidiary of Green Dynasty. According to a spokesperson, “We expect to complete the merger today, December 26, 2012. We are requesting that shares of the Company common stock cease trading on NASDAQ immediately prior to the opening of the market on December 27, 2012. We anticipate that the paying agent for the Merger will commence payment of the Merger consideration to stockholders beginning on December 27, 2012.”

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On Wednesday, Covidien (NYSE:COV) reported that it will purchase the privately-held CV Ingenuity. The transaction should close in the first calendar quarter of 2013, but terms were not disclosed. The buyer is a leading worldwide supplier of healthcare products.

Duke Energy Corporation’s (NYSE:DUK) International subsidiary purchases CGE Group’s Iberoamericana de Energia Ibener subsidiary in Chile in a deal that includes hydroelectric generating assets with 140 megawatts of installed capacity for a price of $415 million.

Don’t Miss: NYSE Euronext Shareholders Think $8.2 Billion is Not a Fair Offer.