Benzinga's M&A Chatter for Thursday March 15, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday March 15, 2012: Avaya Enters Into Agreement to Acquire RADVISION The Deal:
Avaya announced Thursday it has signed an agreement to acquire RADVISION RVSN, a leading provider of videoconferencing and telepresence technologies over IP and wireless networks. Through this acquisition, Avaya will provide customers a highly integrated and interoperable suite of cost-effective, easy to use, high-definition video collaboration products, with the ability to plug and play multiple mobile devices including Apple iPad® and Google Android. In the transaction, which has been approved by each company's Board of Directors, RADVISION shareholders will receive US$11.85 per share, valuing the transaction at approximately $230 million. The acquisition is expected to close within approximately 90 days assuming the satisfaction of agreed-upon closing conditions. RADVISION closed at $11.70 Thursday, a gain of 4.46% on 4 times the average daily volume. Gaiam to Acquire Vivendi Entertainment's Distribution Assets from Universal Music Group The Deal:
Gaiam GAIA announced Thursday that it entered into an agreement to acquire Vivendi Entertainment, from Universal Music Group Distribution Corp., in an accretive transaction. Combining Vivendi Entertainment with Gaiam's existing media distribution operations will create the largest independent, and third largest media distributor in the United States for non-theatrical content. Under the terms of the agreement, Gaiam will acquire Vivendi for $13.4 million plus net working capital. The transaction is expected to be completed later this month, subject to the satisfaction of customary closing conditions. Gaiam closed at $3.57 Thursday, a loss of 0.56% on half the average daily volume. Cogo Chairman and CEO Jeffrey Kang Proposes Acquiring 30% of Cogo Assets, Liabilities and Revenue The Deal:
Cogo Group COGO announced that its founder, CEO and Chairman, Jeffrey Kang, proposed to the Cogo Board of Directors that he purchase a series of operating entities accounting for approximately 30% of Cogo's total assets, liabilities and revenue through his personal investment venture, Envision Global Group. The total purchase price is expected to be between $60 million and $82 million, depending on the results of an appraisal by an appraisal firm. The deal is expected to close during the second quarter of 2012, subject to approval by an audit committee that is comprised of the independent directors on Cogo's Board. Since this is a related-party transaction, the audit committee will oversee the entire process through to the deal's closure. The transaction provides an implied share valuation of $6-$8 a share. At the NASDAQ close on March 13, Cogo's share price stood at $1.84 a share. Cogo Group closed at $1.94 Thursday, a gain of 6.30% on 16 times the average daily volume, but traded over $4 after-hours. Cisco Announces Intent to Acquire NDS The Deal:
Cisco CSCO announced Thursday its intent to acquire NDS Group, a leading provider of video software and content security solutions that enable service providers and media companies to securely deliver and monetize new video entertainment experiences. Under the terms of the agreement, Cisco will pay approximately $5 billion, including the assumption of debt and retention-based incentives, to acquire all of the business and operations of NDS. The acquisition has been approved by the boards of directors of both companies. The acquisition is expected to close during the second half of calendar year 2012, subject to customary closing conditions, including regulatory review in the United States and elsewhere. The net impact to Cisco is expected to be accretive to EPS in the first full year on a non-GAAP basis. Cisco closed at $19.91 Thursday, a loss of 1.41% on 1.2 times the average daily volume. Hearing Renewed Chatter of Shell Buyout of Range Resources The Rumor:
Royal Dutch Shell RDS RDS is still looking at Range Resources RRC as an acquisition target, according to sources. Raymond James mentioned on February 15 Range Resources could be worth up to $100 in a buyout. Spokespersons for Range Resources and Shell could not be reached for comment. Range Resources closed at $60.59 Thursday, a loss of 0.41% on less than average volume. Hearing Juniper Networks Made Offer to Acquire Riverbed Technology The Rumor:
Juniper Networks JNPR has made an offer of $46 per share to acquire Riverbed Technology RVBD, according to sources. Earlier this week, Dell was the rumored buyer at $39.50. An Riverbed spokesperson would not comment on the rumor. A Juniper spokesperson could not be reached for comment. Riverbed Technology closed at $27.50 Thursday, a gain of 3.07% on 1.3 times the average volume. Hearing Akamai Hires JP Morgan to Explore Strategic Alternatives The Rumor:
Akamai Technologies AKAM is rumored to have hired JP Morgan to explore strategic alternatives, including a possible buyout, according to sources. In January, Verizon VZ and AT&T T were rumored to be interested in acquiring Akamai for around $40 per share. A spokesperson for Akamai was not available for comment. Akamai Technologies closed at $37.35 Thursday, a gain of 1.88% on half the average daily volume. Hearing Berkshire Hathaway Looking to Acquire US Coal Company The Rumor:
Peabody Energy BTU, Walter Energy WLT Patriot Coal PCX were among companies being mentioned as possible acquisitions of Warren Buffett's Berkshire Hathaway BRK. A spokesperson for Walter Energy said he was aware of Buffett's interest and added that there is no better commodity to own than hard coking coal. He would not comment specifically on a deal involving his own company. A Berkshire spokesperson was not available for comment. Walter Energy closed at $61.55 Thursday, a gain of 3.10% on average daily volume. Peabody Energy closed at $31.71 Thursday, a gain of 5.38% on twice the average daily volume. Patriot Coal closed at $6.56 Thursday, a gain of 3.96% on 1.6 times the average daily volume. Hearing Renewed Takeover Chatter in Alcoa The Rumor:
Alcoa AA is the subject of renewed takeover chatter involving an Asian company, according to sources. On February 8 it was rumored that BHP Billiton BHP was offering $16 per share for Alcoa. A spokesperson for Alcoa was not available for comment. Alcoa closed at $10.35 Thursday, a gain of 0.68% on average volume.