Benzinga's M&A Chatter for Thursday May 17, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday May 17, 2012:

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Agilent Technologies

and EQT, the Sweden-based private equity group, today announced the execution of a definitive agreement for Agilent to acquire Dako, the Denmark-based cancer diagnostic company. The $2.2 billion acquisition (on a debt-free basis) is the largest in Agilent's history. “In the rapidly growing diagnostics market, Dako's products and capabilities are a strategic complement to Agilent's existing offerings,” said Bill Sullivan, Agilent president and chief executive officer. “Dako is one of the world's leading providers of cancer diagnostics tools, and together we will be able to develop a wider range of products that help in the fight against cancer.” “Agilent's strategy in acquiring Dako is about strengthening the company's presence in life science and about revenue growth,” said Sullivan. “Dako employs extremely talented people with specialized expertise that we highly value. Their knowledge and experience will be very important as we move forward together.” The acquisition is expected to close within the next 60 days, subject to the satisfaction of customary closing conditions. Agilent closed at $39.63 on Thursday, a loss of 0.33% on 1.7 times the average daily volume.

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Human Genome Sciences

announced Thursday that its Board of Directors has adopted a Stockholder Rights Plan and declared a dividend of one share purchase right for each share of HGS's common stock held of record at the close of business on May 29, 2012. The Rights expire on May 29, 2013 unless earlier redeemed, exchanged or terminated by the Company. The Rights distribution will not be taxable to stockholders and will be payable to stockholders of record on May 29, 2012. Human Genome also announced Thursday that its Board of Directors, after careful review and consideration with the assistance of the Company's management and financial and legal advisors, has unanimously determined that the unsolicited tender offer from GlaxoSmithKline to acquire all outstanding common shares of HGS for $13.00 per share in cash is inadequate, undervalues the Company and is not in the best interests of HGS and its stockholders. Accordingly, the Board recommends that stockholders reject GSK's tender offer and not tender any of their shares to GSK. The basis for the Board's decision is set forth in the Schedule 14D-9 being filed by HGS today with the Securities and Exchange Commission, which will also be mailed shortly to stockholders. Late Thursday

reported that Human Genome was in talks with other potential suitors. Human Genome Sciences closed at $14.23 on Thursday, a loss of 0.14% on 72% of the average daily volume.

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Atlas Resource Partners, L.P.

will acquire approximately 250 Bcfe of proved reserves and associated assets in the Barnett Shale in Texas for approximately $184 million in ARP units (based on ARP's closing price on May 16, 2012) through entry into a definitive agreement with Titan Operating, L.L.C., a privately held company based in Fort Worth, Texas. The transaction has been approved by ARP's board of directors and will be effective as of January 1, 2012, with an expected closing in July 2012, subject to customary closing conditions and purchase price adjustments. Atlas Resource Partners closed at $25.21 on Thursday, a gain of 4.04% for the day on more than twice the average daily volume.

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Chesapeake Energy

is being mentioned as a takeover target of Chevron

according to

. Earlier this week, Anadarko Petroleum

was reported to be looking at Chesapeake's Permian Basin assets. Benzinga contacted a spokesperson at Chesapeake Energy, but he would not comment. A spokesperson at Chevron did not respond. Chesapeake Energy closed at $13.55 on Thursday, a loss of 3.49% for the day on 1.7 times the average daily volume.