Market Overview

Benzinga's M&A Chatter for Friday August 31, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday August 31, 2012:

Maxim Note Says Google Could Buy Vringo

The Note:
A note from Maxim says Google (NASDAQ: GOOG) may opt to buy Vringo (NASDAQ: VRNG) as part of or in lieu of a settlement of a patent dispute.

The lawsuit stems from patents obtained from Vringo's acquisition of Innovate/Protect, who obtained the patents from search engine company Lycos. The patents cover relevance filtering technology, which is used to rank search-engine results. The trial is scheduled to begin on October 16.

A spokesperson for Vringo decline comment.

Vringo closed at $3.15 Friday, a loss of 0.63% on average volume.

Cigna Completes Acquisition of Great American Supplemental Benefits Group

The Deal:
Cigna (NYSE: CI) announced Friday it has completed its acquisition of Great American Supplemental Benefits from American Financial Group, Inc. (NYSE: AFG) for $305 million in cash, subject to closing adjustments. Great American Supplemental Benefits Group, with 2011 premiums of $300 million and more than 200,000 current customer relationships, will now do business as Cigna Supplemental Benefits. The new business positions Cigna as one of the largest producers, distributors and marketers of supplemental health care and related products in the United States.

Cigna closed at $45.77 Friday, a gain of 0.20% on lower than average volume.

Posted-In: Long Ideas News Short Ideas Rumors M&A After-Hours Center Movers Trading Ideas

 

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