Benzinga's M&A Chatter for Thursday October 18, 2012

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The following are the M&A deals, rumors and chatter circulating on Wall Street for :
Orient Hotels Receives Unsolicited Bid from Indian Hotels for $12.63/ShareThe Offer
:

Indian Hotels, which currently owns a 6.9% in Orient-Express Hotels, decided Thursday at a meeting of the Board of Directors to make an offer to the Board of Directors of Orient-Express Hotels Limited to acquire the balance of the outstanding 93.1% Class A common Shares of Orient-Express Hotels Limited for $12.63 per share. Orient-Express Hotels confirmed that it received an unsolicited letter from Indian Hotels and certain other members of the Tata group of companies dated October 18, 2012. Orient-Express Hotels closed at $11.05 Thursday, a gain of 22.51% on 31 times average volume.
Sprint Gains Control of Clearwire with Eagle River AcquisitionThe Deal
:

Sprint
S
has gained majority control of Clearwire
CLWR
by purchasing Clearwire investor Eagle River Holdings. The acquisition gives Sprint a controlling interest of 50.8% in Clearwire. A Sprint acquisition of Clearwire was thought to be an important part of the Softbank-Sprint deal. Clearwire Corporation closed at $2.03 Thursday, a loss of 10.18% on 4 times average volume.
ACE Group Acquire Mexican Insurance Business from Ally Financial for $865M in CashThe Deal
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Ally Financial
ALFI
announced Thursday that it has reached an agreement to sell its Mexican insurance business, ABA Seguros, to the ACE Group
ACE
for $865 million in cash. ACE closed at $81.70 Thursday, a gain of 3.04% on twice average volume.
BioCryst Pharmaceuticals, Presidio Pharmaceuticals Announce MergerThe Deal
:

BioCryst Pharmaceuticals
BCRX
and privately held Presidio Pharmaceuticals announced Thursday that the companies have signed a definitive merger agreement for Presidio to be acquired by BioCryst in an all-stock transaction. The transaction has been approved by the Boards of both companies. The transaction values Presidio at approximately $101 million, based on yesterday's closing BioCryst share price of $4.11 per share. The transaction is expected to close in the first quarter of 2013, and is subject to customary conditions, including approval by BioCryst shareholders. BioCryst Pharmaceuticals closed at $4.36 Thursday, a gain of 6.08% on twice average volume.
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