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Benzinga's M&A Chatter for Monday October 29, 2012

Benzinga's M&A Chatter for Monday October 29, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday October 29, 2012:

Riverbed to Acquire OPNET Technologies for $43/Share

The Deal:
Riverbed Technology (NASDAQ: RVBD) and OPNET Technologies (NASDAQ: OPNT) announced Monday that Riverbed has entered into a definitive agreement to acquire OPNET for $43 per share in cash and stock, representing an equity value of $1 billion and an enterprise value of $921 million.

OPNET will be combined with Riverbed's Cascade business unit. The transaction is expected to be accretive to Riverbed's 2013 earnings per share on a non-GAAP basis. Leveraging the Riverbed brand, channels and infrastructure, Riverbed expects meaningful revenue and operating synergies in 2014.

Clean Harbors to Acquire Safety-Kleen for $1.25B

The Deal:
Clean Harbors (NYSEW: CLH) announced Monday it has signed a definitive agreement to acquire Safety-Kleen. Under the terms of the agreement, Clean Harbors will purchase Safety-Kleen in an all-cash transaction valued at $1.25 billion. The acquisition is subject to approval by U.S. and Canadian regulators, as well as other customary closing conditions. The transaction is expected to be completed by year-end.

ProPhase Labs Rejects Matrixx 1.60/Share Bid

The Rejection:
ProPhase Labs (NASDAQ: PRPH) announced Monday that it has rejected the revised and unsolicited, non-binding proposal from Matrixx Initiatives to acquire the Company for $1.60 per share in cash. This most recent proposal, like their prior $1.40 per share proposal, is conditioned on further due diligence by Matrixx.

On October 9, 2012, ProPhase received a revised non-binding proposal, on essentially the same terms as Matrixx's earlier offer, except that in the recent proposal Matrixx raised the proposed price by 20 cents per share. In response to this latest proposal from Matrixx, the Company again sought advice from its independent financial advisors. At a meeting held on October 24, 2012, the Company's Board of Directors unanimously voted to reject this latest Matrixx proposal after careful consideration and consultation with its advisors.

Posted-In: Long Ideas News Short Ideas M&A Global After-Hours Center Movers Trading Ideas


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