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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday March 22, 2013:
LJ International Enters Into Going Private AgreementThe Merger:
LJ International
JADE announced Friday that it has entered into an agreement and plan of merger with Flora Bloom Holdings and Flora Fragrance Holdings Limited, pursuant to which Parent will acquire the Company for $2.00 per ordinary share of the Company. The Transaction is subject to the approval at a meeting of the Company's shareholders.
LJ International closed at $1.89 Friday, a loss of $0.04 on 3 times average volume.
Report CBS to Buy 50% Stake in TV Guide Network from JP Morgan Unit for $100MThe Rumor:
CBS
is reportedly paying $100 million to acquire the 50% stake in TV Guide owned by JP Morgan's One Equity Partners, according to
Deadline. If the deal is completed, CBS will become a 50-50 partner with Lionsgate Entertainment
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who acquired TV Guide in February 2009 for $241.6 million.
CBS closed at $45.98 Friday, a gain of $0.09 on average volume.
Report Harris Teeter Deal Prospects DiminishingThe Rumor:
Private equity firms are losing interest in a deal for supermarket chain Harris Teeter
HTSI, according to
Deal Reporter. Kroger
KR, privately-held Publix Supermarkets and Netherlands-based Koninklijke Ahold have been reported as possible buyers
Harris Teeter closed at $42.60 Friday, a loss of 3% on average volume.
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