Benzinga's M&A Chatter for Monday April 23, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday April 23, 2012:

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AstraZeneca

and Ardea Biosciences

announced Monday that they have entered into a definitive merger agreement, pursuant to which AstraZeneca will acquire Ardea, a San Diego, California-based biotechnology company focused on the development of small-molecule therapeutics. Ardea's clinically most advanced product candidate, lesinurad (formerly known as RDEA594), is currently in Phase III development as a potential treatment for the chronic management of hyperuricaemia in patients with gout. Under the terms of the agreement, AstraZeneca will acquire Ardea for $32 per share which represents a total cash value of approximately $1.26 billion. This represents a premium on the value of Ardea's stock of 50% based on the one month volume-weighted average price and 54% based on the closing price on Friday April 20, 2012. Ardea Biosciences closed at $31.62 Monday, a gain 51.73% on 102 times the average Daily volume.

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Pfizer

announced Monday that it has entered into an agreement to divest its Nutrition business to Nestlé (

) for $11.85 billion in cash. Pfizer's Nutrition business recorded revenues of approximately $2.1 billion in 2011, an increase of 15% versus 2010. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in certain jurisdictions. Pfizer expects the divestiture of the Nutrition business will be completed by the first half of 2013, assuming the receipt of the required regulatory clearances and satisfaction of other closing conditions. Upon completion of the transaction, all Pfizer colleagues currently dedicated to the Nutrition business will be transferred to Nestlé, subject to works council and union consultation where required. Pfizer closed at $22.38 Monday, a loss of 0.80% on 63% of the average daily volume.

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CareFusion

and Natus Medical Incorporated

announced Monday that they have entered into an agreement to sell the CareFusion Nicolet business to Natus for a cash purchase price of approximately $58 million. Based in Madison, Wis., the Nicolet business employs more than 400 people worldwide and generated sales of approximately $95 million in 2011. The acquisition is expected to close in July 2012, subject to customary closing conditions. The cash purchase price is subject to working capital adjustments. Natus plans to finance the acquisition with existing cash and borrowings under its revolving credit facility. The acquisition, which is subject to customary closing conditions and regulatory approvals, is expected to be completed in the second quarter of 2012. CareFusion Corporation closed at $25.42 Monday, a loss of 1.85% on 78% of the average daily volume.

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Beam Inc.

announced Monday a definitive agreement with White Rock Distilleries to acquire the fast-growing Pinnacle Vodka and Calico Jack rum brands and other related assets for $605 million in cash. The acquisition, which is subject to customary closing conditions and regulatory approvals, is expected to be completed in the second quarter of 2012. Beam closed at $56.00 Monday, a loss of 1.79% on 1.5 times the average daily volume.

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Bona Film Group

is in talks with several major film studios, including News Corp's

Fox, Viacom's

Paramount and Comcast's

Universal. A spokesperson for Bona said the company had not released an official statement on the talks, but may do so on Tuesday. Bona Film Group closed at $5.50 Monday, a loss of 2.83% on 2.7 times the average daily volume.

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Amylin Pharmaceuticals

is for sale, according to a report from

. Amylin is attempting to fight off a law suit by investor Carl Icahn. The company recently rejected a $3.5 billion takeover offer from Bristol-Myers Squibb

. A spokesperson for Amylin was not available for comment. Amylin Pharmaceuticals closed at $26.06 Monday, a gain of 13.70% on 2.4 times the average daily volume.