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Benzinga's M&A Chatter for Friday January 13, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday January 13, 2012:

Acacia Subsidiary Acquires ADAPTIX for $160 Million

The Deal:
Acacia Research Corporation (NASDAQ: ACTG) announced Friday that its subsidiary has acquired ADAPTIX, Inc., a pioneer in the development of 4G technologies for wireless systems, for $160 million.

Acacia Research shares traded in a range of $36.39 to $39.94 Friday, on 3 times the average daily volume. Acacia closed at $39.53, a gain of 6.9% for the day.

Abercrombie & Fitch to be Acquire by Private Equity Affirm

The Rumor:
Abercrombie & Fitch (NYSE: ANF) is attracting attention from private equity. Hearing chatter of possible bids near $70 per share, according to sources.

Abercrombie & Fitch shares traded Friday in a range of $44.00 to $45.79 on about the average daily volume. Abercrombie & Fitch closed at $44.99, a gain of 0.56% for the day.

BankUnited Seeking A Buyer

The Rumor:
BankUnited (NYSE: BKU) is seeking a buyer and has hired Goldman Sachs to assist in the process, according to sources.

The failed Florida bank was purchased by private equity in 2009 and then went public again in January 2011.

BankUnited shares traded Friday in a range of $23.21 to $25.79, on 11 times the average daily volume. BankUnited closed at $24.48, a gain of 5.75% for the day. The stock was halted briefly on a circuit breaker.

Lionsgate Buys Summit Entertainment for $412.5M

The Deal:
Lionsgate (NYSE: LGF) and Summit Entertainment announced Friday that Lionsgate has completed a transaction to acquire Summit for a combination of cash and stock valued at $412.5 million.

The transaction is expected to be significantly accretive in Lionsgate's 2013 fiscal year beginning April 1, 2012.

Lionsgate shares traded Friday in a range of $8.54 to $8.67 on one-third the average daily volume. Lionsgate closed at $8.60, a loss of 1.26% for the day.

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