Benzinga's M&A Chatter for Thursday September 12, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday September 12, 2013
Dell Shareholders Approve Acquisition by Michael Dell, Silver Lake
Dell (NYSE: DELL) announced Thursday that a preliminary vote tally from the special meeting of shareholders shows that Michael Dell and Silver Lakes proposal to acquire the computer maker for $13.88 per share has been approved. The deal was reportedly approved by 65% of the shareholders. The total value of the deal is approximately $24.9 billion.
The transaction is expected to close before the end of Q3 of FY2014.
Dell closed Thursday at $13.85.
II-VI Acquires Oclaro's Switzerland-Based Semiconductor Laser Business for $115M
II-VI Incorporated (NASDAQ: IIVI) announced Thursday that it has acquired the Zurich, Switzerland-based semiconductor laser business of Oclaro (NASDAQ: OCLR) for $115 million. At closing, II-VI paid $92 million in cash to Oclaro for the Business, Oclaro retained $15 million in accounts receivable from the Business, $6 million of cash is being held back by II-VI for 15 months from the date of the close and $2 million of cash is being held back by II-VI for potential working capital adjustments.
Oclaro closed at $1.46 Thursday, a gain of more than 37%.
Extreme Networks to Acquire Enterasys Networks for $180M in Cash
Extreme Networks (NASDAQ: EXTR) and Enterasys Networks announced Thursday that Extreme Networks will acquire all outstanding stock of Enterasys for $180 million in cash. The deal is expected to close in Q4 2013.
Extreme Networks closed at $4.33 Thursday, a gain of 7.5%.
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