Market Overview

Benzinga's M&A Chatter for Friday April 5, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday April 5, 2013:

Constellation Brands, Anheuser-Busch InBev, Grupo Modelo, Crown Imports Reach Agreement in Principle with US DOJ

The Agreement:
Constellation Brands (NYSE: STZ), Anheuser-Busch InBev (NYSE: BUD), Grupo Modelo and Crown Imports have reached an agreement in principle with the U.S. Department of Justice on a proposed resolution to the Department of Justice`s litigation challenging AB InBev`s proposed acquisition of the remaining stake in Grupo Modelo that it does not already own. The proposed resolution is substantially in line with the revised transaction announced on February 14, 2013.

The parties to the deal and the Department of Justice have requested an extension of the stay of the proceedings until April 23, 2013.

Contellation Brands closed at $47.84 Friday, but traded over $49.00 after hours.

Energy Capital Partners Raises Bid for EnergySolutions to $4.15/Share in Cash

The Ameneded Offer:
EnergySolutions (NYSE: ES) announced Friday that it has signed an amendment to its definitive acquisition agreement with a subsidiary of Energy Capital Partners. Under the terms of the amended agreement, EnergySolutions' shareholders will receive $4.15 in cash for each share of common stock. The previous offer was $3.75 per share.

EnergySolutions closed at $4.13 Friday, a gain of 10.72% on 8 times average volume.

Dell Responds to Icahn Request for Expense Reimbursement

The Reimbursement Request:
The Special Committee of the Board of Directors of Dell Inc. (NASDAQ: DELL) sent a letter on Friday, to Carl Icahn regarding his request for expense reimbursement in connection with the alternative transaction he has proposed to the definitive 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.

Dell agreed to provide Icahn with the same expense reimbursement that has been made available to the other two bidders if Ichan "will commit contractually to work within our process."

The Dell Committee said that Icahn has "threatened the Company's directors with years of litigation and a proxy fight" if they do not conduct the transaction process in the manner Icahn prefers.

Dell closed at $14.22 Friday, a loss of $0.04 on lower than average volume.

Posted-In: News Hedge Funds Movers & Shakers Rumors M&A After-Hours Center Movers General

 

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