M and A Navigator: Deal pipeline -16 February.
MANews-(C)2009-2016
The following is a list of deals covered in detail by M and A Navigator this week:
-INSIGHT VENTURE PARTNERS TO ACQUIRE ONLINE COLLABORATION SPECIALIST DILIGENT IN USD 624M DEAL
New Zealand-based Diligent Corp. (NZX: DIL), provider of secure online collaboration and document sharing solutions for boards, committees and leadership teams, has entered into a definitive agreement to be acquired by US-based venture capital and private equity firm Insight Venture Partners, the company said.
Under the terms of the agreement, Diligent stockholders will receive USD 4.90 (NZD 7.391) in cash for each share of Diligent stock, a consideration which values Diligent at approximately USD 624m (approximately NZD 941 m), including cash.
Status: Agreed
-BAIDU RECEIVES OFFER FOR QIYI ONLINE VIDEO PLATFORM
Chinese language Internet search provider Baidu, Inc.'s (NASDAQ: BIDU) board of directors has received a non-binding proposal from Robin Yanhong Li, chairman and chief executive officer of Baidu, and Yu Gong, chief executive officer of the company's Qiyi.com, Inc online video platform, proposing to acquire all of the outstanding shares of Qiyi beneficially owned by Baidu based on an enterprise valuation of USD 2.8bn for 100% of Qiyi on a cash-free and debt-free basis, the company said.
Status: Bidding
-WEYERHAEUSER WINS SHAREHOLDER NOD FOR USD 8.4BN PLUM CREEK TIMBER ACQUISITION
Shareholders of US-based forest products company Weyerhaeuser Co. (NYSE: WY) have voted to approve the company's proposed merger with Plum Creek Timber Co., Inc. (NYSE: PCL) at a special meeting of shareholders, the company said.
In November 2015, timber and forest products company Weyerhaeuser agreed to acquire Plum Creek in a USD 8.4bn stock deal.
Status: Agreed
-BANKRUPT US COAL PRODUCER WALTER ENERGY CLOSES SALE OF REMAINING US ASSETS
US-based Walter Energy, Inc. (OTC: WLTG) has closed a deal with Seminole Coal Resources, LLC, ERP Compliant Coke, LLC and ERP Environmental Fund, Inc. all related to ERP Compliant Fuels, LLC an affiliate of Virginia Conservation Legacy Fund, Inc. for its remaining US assets, the company said.
Under the deal, the buyer group acquired of substantially all of the company's remaining US assets after giving effect to its previously-announced agreement with an entity owned by certain of the company's senior lenders.
Status: Closed
-GCP STUDENT LIVING TO ACQUIRE WATER LANE APARTMENTS IN BRISTOL FOR GBP 18.3M
UK-based student housing investor GCP Student Living plc has raised GBP 19m from a placement of stock and has agreed to acquire Water Lane Apartments, a private student accommodation residence located in Bristol, the company said.
On 3 February 2016 the company announced its intention to raise gross proceeds of up to GBP 19m of additional capital by way of a placing of new ordinary shares. The company said that the placing was significantly oversubscribed and applications were received for in excess of the target fund raise pursuant to the placing.
Status: Agreed
-LANDORE RESOURCESS TO SELL CANADIAN LITHIUM PROPERTY
Guernsey-based Landore Resources Ltd. (AIM: LND) has entered into an option agreement to sell its Root Lake Lithium Property located in north western Ontario, Canada, the company said. Landore has entered into an option agreement with Australian mineral exploration company Ardiden Ltd pursuant to which Ardiden has the right to purchase Landore's 100% interest in Root Lake. The option agreement provides that Ardiden can purchase Landore's interest in Root Lake.
Root Lake Lithium, a non-core asset, is 100% owned by Landore Resources Canada Inc, which is in turn is 100% owned by Landore Resources Ltd.
Status: Agreed
-VIZIENT CLOSES ACQUISITION OF MEDASSETS BUSINESSES
US-based health care company Vizient, Inc. has closed its acquisition of MedAssets' (NASDAQ: MDAS) Spend and Clinical Resource Management segment from Pamplona Capital Management, Vizient said.
This deal includes the Sg2 business. Pamplona bought Medassets in November 2015 for about USD 2.7bn. As part of the deal, Pamplona agreed to divest the spend and clinical resource management business. According to Vizient, the combined expertise of it and MedAssets' SCM and Sg2 businesses will help health care providers significantly improve their financial, clinical and operational performance.
Status: Closed
-FLORIDA INSURANCE REGULATOR APPROVES USD 37BN AETNA-HUMANA MERGER
The US State of Florida Office of Insurance Regulation has approved the pending USD 37bn merger of US Health Insurers Aetna (NYSE: AET) and Humana, the companies said.
In early July it was announced the two companies had entered into a definitive agreement under which Aetna will acquire all outstanding shares of Humana for a combination of cash and stock valued at USD 37bn or approximately USD 230 per Humana share based on the closing price of Aetna common shares on 2 July 2015.
Status: Agreed
-MEDICX FUND ACQUIRES PRIMARY HEALTHCARE CENTRE IN SWANSEA
UK-based primary care infrastructure investor MedicX Fund Ltd., (LSE: MXF) has...
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