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Shares of MetLife Inc (NYSE: MET) gained about 0.8% after Franco-Belgian financial services group Dexia SA (OTC: DXBGF) agreed to sell its Turkish life insurance business to MetLife for 162 million euros ($229.3 million). The transaction is likely to close by the end of 2011. MetLife will buy Dexia's 99.86% stake in DenizEmeklilik, the life insurance and pension unit of DenizBank. Dexia bought Denizbank in 2006.

Shares of Stanley Black & Decker Inc (NYSE: SWK) gained about 0.35% after the company offered to buy all of the outstanding common stock and warrants of Niscayah AB (OTC: NSYHF) for $1.2 billion, including debt. The offer represents a 47% premium to Niscayah's closing price before the offer on May 16 and a 15% premium to Niscayah's closing price on June 23. The independent committee of Niscayah's Board has recommended that shareholders and warrant holders accept the offer, Stanley Black & Decker reported.

Shares of Nike Inc (NYSE: NKE) gained about 1.8% as the company is all set to report its quarterly earnings after the closing bell. Nike is projected to report its FQ4 EPS at $1.16 on revenue of $5.54 billion.

Shares of GSV Capital Corp (NASDAQ: GSVC) jumped about 25% after the company acquired 225,000 shares of privately-held Facebook for $6.6 million or $29.28 per share.

Shares of Continucare Corp (NYSE: CNU) jumped about 31.2% after Metropolitan Health Networks Inc (AMEX: MDF) announced its plans to buy Continucare for around $416 million in cash and stock. Under the deal, CNU's stakeholders would receive $6.25 in cash for each share of common stock and a 0.0414 share of MDF. The deal valued Continucare at $6.45 per share, representing around 24% premium to CNU's three-month price average. The deal is likely to close in the third quarter and add to MDF's earnings by 2012.

Posted-In: Market RoundupM&A News Markets


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