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Benzinga's M&A Chatter for Monday March 10, 2014

Benzinga's M&A Chatter for Monday March 10, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday March 7 through Sunday March 9, 2014:

Chiquita Brands, Fyffes to Combine in $1.07B Merger Deal

The Deal:
Chiquita Brands (NYSE: CQB) and Fyffes (OTC: FYFFF) announced Monday that the two companies will combine in a stock-for-stock deal that is expected to result in Chiquita shareholders owning approximately 50.7% of ChiquitaFyffes, and Fyffes shareholders owning approximately 49.3% of ChiquitaFyffes. The transaction will result in a combined equity value of approximately $1.07 billion.

The deal is expected to close before the end of 2014.

Chiquita Brands closed Friday at $12.00, gaining alomost 11%.

Minerals Technologies to Acquire AMCOL for $45.75/Share in Cash

The Deal:
Minerals Technologies (NYSE: MTX) and AMCOL International (NYSE: ACO) announced Monday that they have agreed that Minerals Technologies will acquire AMCOL for $45.75 per share in cash, for a total value of approximately $1.7 billion. The deal is expected to close in H1 2014.

AMCOL terminated its merger agreement with Imerys (OTC: IMYSF), whose offer was $45.25 per share. AMCOL paid Imerys` U.S. subsidiary a termination fee of $39 million.

AMCOL closed Friday at $45.71, a loss of 2%.

Montage Tech Receives Non-Binding Proposal from Shanghai Pudong Science of $21.50/Share

The Offer:
Montage Technology (NASDAQ: MONT) announced Monday that its Board of Directors received a preliminary non-binding proposal letter, dated March 10, 2014, from Shanghai Pudong Science and Technology Investment Co., whereby, PDSTI proposed to acquire all of Montage's outstanding ordinary shares at a price of $21.50 per share in cash.

The Board is reviewing the proposal.

Montage Technology closed Friday at $20.66, a gain of 20%.


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