Market Overview

Benzinga's M&A Chatter for Monday March 25, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday March 25, 2013:

Dell Confirms Receipt of Offers from Icahn, Blackstone

The Offers:
The Special Committee of the Board of Dell (NASDAQ: DELL) today announced that the “go-shop” period provided for in the merger agreement between the company and entities owned by Michael Dell, Dell's Founder, Chairman and Chief Executive Officer, and investment funds affiliated with Silver Lake Partners, has elicited two alternative acquisition proposals. One proposal was submitted by a group affiliated with a private equity fund managed by Blackstone (NYSE: IEP) and the other by entities affiliated with Carl Icahn (NYSE: IEP).

Blackstone's bid values Dell at more than $14.25 a share. Icahn has offered to pay $15 per share in cash for up to 58.1% of the stock.

Michael Dell, who offered $13.65 per share, reportedly said the Blackstone bid was management friendly, according to sources.

Dell closed at $14.51 Monday, a gain of 2.5% on 1.5 times average volume.

TIBCO Software Acquires Maporama Solutions

The Deal:
TIBCO Software (NASDAQ: TIBX) announced Monday it has acquired Maporama Solutions, a privately-held, cloud-based provider of location intelligence and geospatial analytics solutions. Maporama Solutions enables enterprises to compress decision-making cycles, optimize resource allocation, and match supply with demand within the context of location. Terms of the agreement were not disclosed.

TIBCO Software closed at $20.33 Monday, a loss of 3% on twice average volume.

Oracle Acquires Tekelec

The Deal:
Oracle (NASDAQ: ORCL) announced Monday that it has entered into an agreement to acquire Tekelec, a leading provider of network signaling, policy control, and subscriber data management solutions for communications networks. Terms of the agreement were not disclosed.

Oracle closed at $31.25 Monday, a loss of 2% on more than 1.5 times average volume.

Yahoo Acquires Summly for $30M

The Deal:
Summly CEO Nick D'Aloisio announced on the company website that the company he founded at age 15, had signed an agreement to be acquired by Yahoo for $30 million.

Yahoo closed at $23.38 Monday, a gain of $0.12 on higher than average volume.

Posted-In: News Rumors M&A Global After-Hours Center Movers Tech

 

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