Benzinga's M&A Chatter for Monday March 26, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday March 26, 2012: Bausch + Lomb to Acquire ISTA Pharmaceuticals for $9.10/Share The Deal:
Bausch + Lomb, the global eye health company, and ISTA Pharmaceuticals ISTA, announced Monday that they have signed a definitive agreement under which Bausch + Lomb will acquire ISTA for $9.10 per share in cash, or a total of approximately $500 million. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the second quarter of 2012. ISTA Pharmaceuticals closed the regular session at $8.38 Monday, a gain of 0.96% on 71% of the average daily volume. Comverge Enters Into Definitive Agreement to be Acquired by H.I.G. Capital The Deal:
Comverge COMV announced Monday that it has entered into an agreement to be acquired by Peak Merger, an affiliate of H.I.G. Capital for $1.75 per share in cash, or approximately $49 million in equity value. The offer price represents a premium of approximately 18 percent over Comverge's average closing price of $1.48 over the last 30 days. The H.I.G. Capital offer is not subject to a financing condition. Affiliates of H.I.G. Capital will provide debt financing to Comverge in the amount of $12.0 million, which is not contingent on the closing of the acquisition by H.I.G. Capital. Comverge closed at $1.79 Monday, a loss of 4.79% on almost 7 times the average daily volume. Valeant Pharmaceuticals Agrees to Acquire Natur Produkt in Russia The Deal:
Valeant Pharmaceuticals VRX announced Monday that Valeant has signed an agreement to acquire Natur Produkt International, JSC, a specialty pharmaceutical company in Russia. Natur Produkt has a significant presence in the over-the-counter segment in several categories marketed under the umbrella brand, Natur Produkt. Key brands include AntiGrippin, a leading cough and cold remedy, Anti Angin, Sage and Eucaplyptus MA brand names, leading sore throat remedies. Valeant will acquire Natur Produkt for approximately $180 million, with an additional $5 million in potential future milestones. Total revenue in 2011 was approximately $65 million and is expected to deliver double digit growth in 2012. The transaction is expected to close by mid-year 2012, subject to certain closing adjustments and regulatory approvals, and is expected to be immediately accretive. Valeant Pharmaceuticals closed at $54.61 Monday, a gain of 1.6% on half the average daily volume. Oclaro and Opnext Agree to Merge The Deal:
Oclaro OCLR and Opnext OPXT announced Monday that they have entered into a definitive agreement to merge in an all-stock transaction. Under the terms of agreement, Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for every share of Opnext common stock they own. The Oclaro and Opnext merger is expected to mark a major transformation in the optical industry, bringing together over 30 years of combined telecom and datacom optical technology innovation. The merger will create a new industry leader in the fast-growing optical components and modules market, forecast to reach $9.2 billion in 2015. The broad product portfolio, technology innovation, engineering resources, cost structure and strategic customer relationships of the combined company are expected to expand its opportunities for growth and to create long-term shareholder value. Opnext closed at $1.13 Monday, a gain of 3.67% on slightly more than the average daily volume. Oclaro closed at $4.66 Monday, a gain of 2.87% on slightly more than 3 times the average daily volume. RDA Microelectronics Acquires Baseband IP from Coolsand for $46M The Deal:
RDA Microelectronics RDA announced Monday that it has acquired all of the baseband intellectual property of Coolsand Holding Co., Ltd., a privately held baseband company with business operations in China, and its subsidiaries. The consideration paid is $46 million, comprised of approximately $20 million in cash and 15 million RDA ordinary shares. The market value of the shares totals approximately $26 million as determined by the March 21, 2012 NASDAQ closing price of RDA's American Depositary Shares, each representing six ordinary shares. RDA and Coolsand are both majority owned by entities affiliated with Warburg Pincus. This transaction has been approved by the independent directors who serve on RDA's audit committee. RDA Microelectronics closed at $9.87 Monday, a loss of 1.79% on 1.3 times the average daily volume. Hearing Sino Chem Bidding on Mosaic The Rumor:
Sino Chem is offering $70+ per share to acquire Mosaic MOS, according to sources. Mosaic was last the subject of takeover chatter on March 19. The rumored buyer was Cargill. Spokespersons for Sino Chem and Mosaic could not be reached for comment. Mosaic closed at $58.64 Monday, a gain of 1.63% on slightly more than the average daily volume. Hearing Carl Icahn May Have an Interest in Acquiring First Solar The Rumor:
Rumors were circulating Monday that Carl Icahn may have an interest in First Solar FSLR. That rumor surfaced at about the same time as a report that the German solar subsidy cut was going to be 29%. An analyst for First Solar told Benzinga, Carl Icahn involvement would not make sense. A First Solar spokesperson was not available for comment. First Solar closed at $26.42 Monday, a gain of 1.19% on 62% of the average daily volume. Hearing API Technologies Making an Offer for Anaren The Rumor:
API Technologies ATNY has submitted an offer to acquire Anaren ANEN, according to dealReporter. Spokespersons for Anaren and API were not available for comment. Anaren closed at $17.53 Monday, a gain of 3.12% on 3 times the average daily volume.