Market Overview

Benzinga's M&A Chatter for Thursday April 18, 2013

Benzinga's M&A Chatter for Thursday April 18, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday April 18, 2013:

Brogdon Family Intends to Commence $8/Share Tender Offer for AdCare Health Systems

The Tender Offer:
AdCare Health Systems (NYSE: ADK) confirmed that Brogdon Family, LLC informed the AdCare Board of Directors on April 17, 2013 of its interest in commencing an unsolicited tender offer to acquire AdCare common stock, at a price of $8.00 per share. Vice Chairman Christopher, who currently owns more than 10% of AdCare shares, is seeking to own between 55% and 75% of the company's shares if and when the tender offer is completed.

AdCare's Board of Directors will review the offer.

AdCare Health Systems closed at $5.88 Thursday, a gain of 36% on 26 times average volume.

Sprint Forms Committee to Evaluate Dish $25.5B Offer

The Special Committee:
Sprint (NYSE: S) has set up a special committee to evaluate Dish Network's (NASDAQ: DISH) $25.5B offer, according to CNBC's David Faber. Sprint is planning to hire an advisor to review the offer and decide if it is superior to Softbank's $20 billion offer for a 70% stake.

In a filing, Dish asked the FCC to defer action on the Softbank deal.

Sprint closed at $7.19 Thursday, a gain of 1.5% on twice average volume.

OPKO Health Acquires 10% Stake in Russian Pharmaceutical Company OAO Pharmsynthez

The Deal:
OPKO Health (NYSE: OPK) announced Thursday that it has acquired approximately a 10% stake in Russia's OAO Pharmsynthez. OPKO's investment is part of an approximate $60 million two-stage financing in Pharmsynthez alongside the Russian Corporation of Nanotechnologies, a Russian state owned company. RUSNANO invested approximately $26.1 million in the first step of the transaction.

OPKO Health closed at $6.95 Thursday, loss of 1% on lower than average volume.

Posted-In: CNBC News Jim Cramer Rumors M&A After-Hours Center Media


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