M and A Navigator: Deal pipeline -13 May.
M2 EQUITYBITES-May 13, 2016-M and A Navigator: Deal pipeline -13 May
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The following is a list of deals covered in detail by M and A Navigator this week:
-INTERVAL LEISURE GROUP CLOSES ACQUISITION OF VISTANA FROM STARWOOD
US-based hospitality company Interval Leisure Group (NASDAQ: IILG) has closed the acquisition of Starwood Hotels and Resorts Worldwide, Inc.'s (NYSE: HOT) Vistana Signature Experiences, Inc. vacation ownership resorts business, the company said.
The combination, which follows completion of the planned spin-off of Vistana from Starwood announced on 10 February 2015, has a total value to Starwood of approximately USD 1.5bn.
Status: Closed
-INTERVAL LEISURE GROUP NAMES FOUR BOARD MEMBERS FOLLOWING CLOSE OF VISTANA ACQUISITION
US-based hospitality company Interval Leisure Group, Inc. (NASDAQ: IILG) has appointed Lizanne Galbreath, Stephen R. Quazzo, Sergio D. Rivera, and Thomas O. Ryder to its board of directors in connection with the closing of ILG's acquisition of Starwood Hotels and Resorts Worldwide, Inc.'s (NYSE: HOT) Vistana Signature Experiences, Inc. vacation ownership resorts business, the company said.
These Starwood-designated directors expand the total size of the board to 13 directors, 11 of whom are independent.
Status: Closed
-MATERION IN TALKS TO BUY TARGET MATERIALS BUSINESS FROM HERAEUS GROUP
US-based enabling materials company Materion Corp.'s (NYSE: MTRN) Advanced Materials business segment is currently in discussions with German technology group Heraeus regarding an acquisition by Materion of the Heraeus high-performance target materials business, the company said.
Heraeus manufactures precious and non-precious metal target materials for the architectural and automotive glass, electronic display, photovoltaic, semiconductor and media data storage markets at facilities in Germany, the United States, Singapore, China and Taiwan.
Status: Agreed
-QUESTAR WINS SHAREHOLDER NOD FOR DOMINION RESOURCES BUYOUT
Shareholders of US-based natural gas distribution, pipeline, storage and cost-of-service gas supply company Questar Corp. (NYSE: STR) have voted to approve the company's combination with Dominion Resources (NYSE: D) during a special meeting of shareholders, the company said.
Questar and Dominion announced the merger on 1 February 2016, in which Dominion Resources agreed to acquire Questar in an all-cash transaction in which Dominion has agreed to pay Questar shareholders USD 25 per share about USD 4.4bn and assume Questar's outstanding debt.
Status: Agreed
-WL ROSS SCHEDULES 6 JUNE SHAREHOLDER VOTE ON NEXEO SOLUTIONS
Shareholders of US-based special purpose acquisition company WL Ross Holdings Corp. (NASDAQ: WLRH) will vote on 6 June to approve the company's definitive agreement to acquire chemicals and plastics distributor Nexeo Solutions Holdings, LLC from alternative asset firm TPG, the company said.
The closing of the Nexeo Solutions merger is expected to occur shortly thereafter. As part of the transaction, TPG will roll over a substantial portion of its existing equity and retain approximately 35% ownership.
Status: Agreed
-STARTUP SHOWCASE TECHNORI MERGES WITH CHICAGO INCUBATOR PODCAST
US-based startup showcase Technori is merging with Chicago-based web forum "Tomorrow's Business Today," the company said.
"Tomorrow's Business Today" is a forum for Chicago's technology and startup communities, founded and hosted on WGN Plus by Scott Kitun. With the merger, Technori will now offer more than just a showcase (Technori Events) for audiences to learn about new startup companies and their innovations.
Status: Closed
-WESTERN DIGITAL CLOSES ACQUISITION OF SANDISK
US-based storage solutions company Western Digital Corp. (NASDAQ: WDC) has closed its acquisition of US-based flash drive specialist SanDisk Corp. (NASDAQ: SNDK), the company said.
Under the terms of the completed transaction, each outstanding share of SanDisk common stock was converted into the right to receive USD 67.50 per share in cash and 0.2387 shares of Western Digital common stock. Last October, Western Digital agreed to buy SanDisk in a deal that valued the company's common stock at USD 86.50 per share or a total equity value of approximately USD 19bn.
Status: Closed
-MGT CAPITAL ACQUIRES STAKE IN TECHNOLOGY INCUBATOR ROUND HOUSE
US-based investment company MGT Capital Investments, Inc. (NYSE MKT: MGT) has acquired a membership interest in The Alabama-based technology incubator Round House LLC, the company...
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