Benzinga's M&A Chatter for Thursday May 24, 2012
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday May 24, 2012:
NYSE Euronext To Acquire Corpedia Corporation
NYSE Euronext (NYSE: NYX) announced Thurday that it has entered into a definitive agreement to acquire Corpedia Corporation, a leading global provider of ethics and compliance e-learning and consultative services. With its corporate governance, risk and compliance assets, Corpedia will further expand the New York Stock Exchange's extensive range of global services available to its issuer community. The transaction is expected to close in June 2012. Terms of the acquisition were not disclosed.
NYSE Euronext closed at $24.50 on Thursday, a loss of 1.33% on average volume.
General Mills Announces Definitive Agreement to Acquire Brazilian Food Maker Yoki
General Mills (NYSE: GIS) said today that it has signed a definitive agreement to acquire Yoki Alimentos S.A., a privately-held food company headquartered in Sao Bernardo do Campo, Brazil. General Mills currently expects the transaction to close during the first half of its 2013 fiscal year, which begins on May 28, 2012, after satisfaction of customary closing conditions.
General Mills closed at $38.98 Thursday, a gain of 1.01% on average volume.
Kinder Morgan Completes Acquisition of El Paso Corporation
Kinder Morgan (NYSE: KMI) announced Thursday that it has completed its acquisition of El Paso Corporation (NYSE: EP), which was announced in October of 2011. Combining the two companies makes Kinder Morgan the largest midstream and the fourth largest energy company (based on combined enterprise value) in North America. Under the terms of the agreement, the transaction will be effective as of 12:01 a.m., New York City time, on May 25, 2012.
Kinder Morgan closed at $32.11 on Thursday, a loss of 3.17% on almost 13 times the average daily volume.
Wesco Aircraft Holdings to Acquire Interfast
Wesco Aircraft Holdings (NYSE: WAIR) announced Thursday that it has entered into an agreement to acquire substantially all of the assets of Interfast for CDN$134 million in cash.
The Company expects the acquisition to close toward the end of its fiscal third quarter or the beginning of its fiscal fourth quarter, subject to customary closing conditions. The acquisition is not expected to have a material impact on Wesco's adjusted diluted earnings per share for its current fiscal year, but is expected to be accretive on that basis in fiscal 2013.
Wesco Aircraft Holdings closed at $14.05 on Thursday, a loss of 1.75% on average daily volume.
Hearing Mosaic Hires Barclays to Explore Strategic Alternatives
Mosaic (NYSE: MOS) has hired Barclays (NYSE: BCS) to explore strategic alternatives, including the possibility of a sale, according to sources. Mosaic has been the subject of takeover chatter on several occasions, with Sino Chem the usual suitor.
A spokesperson for Mosaic would not comment on the chatter.
Mosaic closed at $48.74 on Thursday, a gain of 0.76% on lower than average volume.
Susquehanna Says SandRidge Energy is Takeover Target
SandRidge Energy (NYSE: SD) is the most likely takeover candidate in the energy sector, according to a note from Susquehanna. There was takeover chatter in SandRidge in March of this year.
A spokesperson for SandRidge Energy was not available for comment.
SandRidge Energy closed at $6.32 on Thursday, a loss of 1.40% on lower than average volume.