BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Sourcefire's shares light up on a hostile bid]]>http://www.bloggingstocks.com/2008/05/30/sourcefires-shares-light-up-on-a-hostile-bid/http://www.bloggingstocks.com/2008/05/30/sourcefires-shares-light-up-on-a-hostile-bid/http://www.bloggingstocks.com/2008/05/30/sourcefires-shares-light-up-on-a-hostile-bid/#commentsFiled under:

It's been rough since Sourcefire Inc. (NASDAQ: FIRE) went public last year. The stock went from $18.83 to a low of $5. The company, which provides cutting-edge security technologies, has been missing analyst estimates and can't seem to get the confidence of investors.

Well, Sourcefire has now attracted a hostile bidder -- Barracuda Networks, which is offering $7.50 per share. As a result, Sourcefire's stock price is now trading at about $7.65. Of course, the company has rejected the offer (indicating that is far too low).

To get a perspective on things, I had a chance to talk to Nick Selby, who is the senior analyst of enterprise security at the 451 Group. According to him, the bid is indeed too low. If anything, this could entice other bidders to the table.

In fact, he thinks other broken IPOs may be buyout targets, such as ArcSight (NASDAQ: ARST).

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.

Sourcefire's shares light up on a hostile bid originally appeared on BloggingStocks on Fri, 30 May 2008 15:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ARSTBarracuda NetworksBarracudaNetworksFIREHostile bidHostileBidSourcefireFri, 30 May 2008 15:45:00 EST<![CDATA[NRG powers up a hostile bid for Calpine]]>http://www.bloggingstocks.com/2008/05/22/nrg-powers-up-a-hostile-bid-for-calpine/http://www.bloggingstocks.com/2008/05/22/nrg-powers-up-a-hostile-bid-for-calpine/http://www.bloggingstocks.com/2008/05/22/nrg-powers-up-a-hostile-bid-for-calpine/#commentsFiled under: , ,

Calpine (NYSE: CPN), which is a major power company, has experienced lots of drama over the years. However, the company has been able to stabilize things - and has recently come out of bankruptcy.

But suddenly the drama has returned: NRG Energy (NYSE: NRG), a rival, has made a $11 billion hostile bid for Calpine (it's a stock-for-stock transaction).

And there's lots of momentum for the deal. Keep in mind that Harbinger Capital Partners, which is a major hedge fund, owns 24% of Calpine's shares and is pushing for a combination.

No doubt, NRG-Calpine would be a powerhouse, amounting to roughly 45,000 megawatts. It will also expand NRG's presence in the valuable California market.

True, the valuation for the transactions looks meager. But, I suspect we'll ultimately see a higher bid. According to Harbinger's letter to Calpine:

"We believe this offer represents a good starting point and that the Board should immediately engage with NRG concerning the terms."

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.

NRG powers up a hostile bid for Calpine originally appeared on BloggingStocks on Thu, 22 May 2008 09:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CalpinecpnHostile BidHostileBidindependent power producersIndependentPowerProducersinthenewsnrgNRG EnergyNrgEnergyThu, 22 May 2008 09:33:00 EST<![CDATA[Newspaper wrap-up: Electronic Arts to make tender offer to Take-Two shareholders]]>http://www.bloggingstocks.com/2008/03/13/newspaper-wrap-up-electronic-arts-to-make-tender-offer-to-take/http://www.bloggingstocks.com/2008/03/13/newspaper-wrap-up-electronic-arts-to-make-tender-offer-to-take/http://www.bloggingstocks.com/2008/03/13/newspaper-wrap-up-electronic-arts-to-make-tender-offer-to-take/#commentsFiled under: , , , ,

MAJOR PAPERS:
  • Take-Two Interactive Software Inc (NASDAQ: TTWO) rejected Electronic Arts Inc's (NASDAQ: ERTS) unsolicited takeover offer as too low, and now EA is turning hostile, going directly to the shareholders to acquire all outstanding shares for $26 each, the same price originally offered to Take-Two, the Wall Street Journal reported.
  • No one wants to see The Bear Stearns Companies Inc (NYSE: BSC), rumored to have liquidity problems, fail, but competitors and clients are being extra cautious, according to the Wall Street Journal.
  • The credit crunch has hit three more funds, the Financial Times said. Drake Management, Global Opportunities Capital and Blue River Asset Management have all been forced to suspend investor withdrawals or close down after being faced by turmoil in the credit markets.
OTHER PAPERS:
  • According to Tim Berners-Lee, the inventor of the World Wide Web, the UK Times reported that Google Inc (NASDAQ: GOOG) may eventually be superseded as the dominant Internet brand by a company that uses the power of next-generation Web technology.

Newspaper wrap-up: Electronic Arts to make tender offer to Take-Two shareholders originally appeared on BloggingStocks on Thu, 13 Mar 2008 08:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Bear StearnsBearStearnsBlue River Asset ManagementBlueRiverAssetManagementBSCcredit crunchCreditCrunchDrake MAnagementDrakeManagementEAElectronic ArtsElectronicArtsERTSGlobal OpportunitiesGlobalOpportunitiesGOOGGooglehostile bidHostileBidInternetTake-TwoTake-Two InteractiveTake-twoInteractiveTTWOWorld Wide WebWorldWideWebThu, 13 Mar 2008 08:00:00 EST<![CDATA[Ventana offered huge premium by Roche]]>http://www.bloggingstocks.com/2007/06/26/ventana-offered-huge-premium-by-roche/http://www.bloggingstocks.com/2007/06/26/ventana-offered-huge-premium-by-roche/http://www.bloggingstocks.com/2007/06/26/ventana-offered-huge-premium-by-roche/#commentsFiled under: , ,

In a move that could complement its other recent acquisitions, Roche Holding Ltd (OTC: RHHBY) yesterday made a $75-a-share hostile bid for Ventana Medical Systems, Inc (NASDAQ: VMSI). The $3 billion cash offer would allow Roche to gain a test Ventana developed to screen patients who could respond to the Swiss pharmaceutical giant's breast cancer medicine, Herceptin. The main goal of acquiring Ventana would be to "move closer toward delivering tools to select the right drugs for the right patients, rather than saving costs," Roche CEO Franz Humer told the Wall Street Journal.

Roche has already agreed to three other diagnostic acquisitions this year: The company agreed to buy CuraGen Corporation's (NASDAQ: CRGN) 454 Life Sciences in March for $140 million, allowing it to gain the company's DNA-mapping technology, and later agreed to acquire BioVeris Corporation (NASDAQ: BIOV) for $600 million and NimbleGen Systems for $272.5 million. The acquisition of BioVeris will add a screening technology that stimulates cells to emit light, while the NimbleGen acquisition would add more genetic tools for drug research.

Should an acquisition be seen as a sure thing? No, executives at Ventana said. Although Roche has made several friendly efforts to engage in "meaningful discussions" with Ventana's chairman and board concerning a transaction, Ventana has so far rebuffed Roche. The company advised shareholders in taking any action in response to the offer, but said the Board would review Roche's offer and make a recommendation within 10 days. What may make this particular offer different is that the $75-per-share offer was nearly 45% higher than Ventana's closing price of $51.74 yesterday.

In the event of an acquisition, Roche said it would operate Ventana as a separate unit within its diagnostics division, allowing it to retain its management team and employees as well as its headquarters in Arizona. This would be a similar agreement to the one Roche maintains with U.S. biotech company Genentech Inc (NYSE: DNA), which is majority-owned by Roche but is managed as an independent company.

Based on a potential acquisition, analysts believe that biotechnology companies Gen-Probe Incorporated (NASDAQ: GPRO), Luminex Corporation (NASDAQ: LMNX) and Cepheid Inc (NASDAQ: CPHD) could be potential acquisition targets based on their technology platforms and product offerings.

Ventana offered huge premium by Roche originally appeared on BloggingStocks on Tue, 26 Jun 2007 12:25:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>454 Life Sciences454LifeSciencesacquisitionBIOVBioVerisCepheidCPHDCRGNCuraGenDNAGen-ProbeGenentechGPROHerceptinhostile bidHostileBidLMNXLuminexLuminex CorpLuminexCorpNimbleGen SystemsNimblegenSystemspremiumRHHBYRoche HoldingRocheHoldingVentana Medical SystemsVentanaMedicalSystemsVMSITue, 26 Jun 2007 12:25:00 EST<![CDATA[Dow Jones and News Corp: Very 'Guys & Dolls,' very wrong]]>http://www.bloggingstocks.com/2007/05/01/dow-jones-and-news-corp-very-guys-and-dolls-very-wrong/http://www.bloggingstocks.com/2007/05/01/dow-jones-and-news-corp-very-guys-and-dolls-very-wrong/http://www.bloggingstocks.com/2007/05/01/dow-jones-and-news-corp-very-guys-and-dolls-very-wrong/#commentsFiled under: , , ,

It was the news as soon as I logged into my computer this morning from my West Coast office: Rupert Murdoch's News Corp. (NYSE: NWS) had made a whopping $5 billion bid for Dow Jones & Co. (NYSE: DJ). The bid was unsolicited and, it seems, entirely hostile to the Bancroft family, who controls Dow Jones and seems to be rejecting the generous offer.

It's a cute story, very Guys & Dolls. On one hand we have Dow Jones with its flagship brand, the Wall Street Journal. The paper is everything about wealth -- its very emblem the center of all the world's markets, Wall Street -- the editors are known for their conservative bent, the writers are known for their unparalleled and brainy research, even the design is known for its long-time avoidance of peripherals like color printing and photographs. On the other hand, we have Rupert Murdoch and his gang of vagabonds, from FOX broadcasting (need I really say more than "Next on FOX... Are You Smarter Than a Fifth Grader?") to the vast spoiled brat of recent acquisition MySpace. They're very other-side-of-the-tracks, the kind of news organization that would get a tattoo on its buttocks and then try to slip it in as the senior picture in the high school yearbook.

They're not a match made in heaven. They're a match made for Joe Millionaire, or Broadway. It's not real life; it wouldn't work. Whether or not the money is right, the styles are so vastly different, the respective organizations' reputations so opposite, any so-called "synergy" would be lost before the first page of the merger agreement was drafted.

Continue reading Dow Jones and News Corp: Very 'Guys & Dolls,' very wrong

Dow Jones and News Corp: Very 'Guys & Dolls,' very wrong originally appeared on BloggingStocks on Tue, 01 May 2007 20:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bancroftbancroft familyBancroftFamilybiddjdow jonesDowJonesfoxhostilehostile bidhostile takeoverHostileBidHostileTakeovermediamergermurdochnewsnews corpNewsCorpnewspapernwspaperrupertrupert murdochRupertMurdochtakeoverwall street journalWallStreetJournalwsjTue, 01 May 2007 20:28:00 EST<![CDATA[US Airways ups the ante for Delta]]>http://www.bloggingstocks.com/2007/01/29/us-airways-ups-the-ante-for-delta/http://www.bloggingstocks.com/2007/01/29/us-airways-ups-the-ante-for-delta/http://www.bloggingstocks.com/2007/01/29/us-airways-ups-the-ante-for-delta/#commentsFiled under: , , , , , , ,

US Airways Group Inc. (NYSE: LCC) is trying to pull out all the stops in its attempted hostile takeover of Delta Air Lines Inc. by lifting its offer by $1 Billion.

In order for the offer to get lifted, US Airways wants the official committee to request Delta to open itself up for due diligence by US Airways, to have a bankruptcy judge to postpone a hearing next week on Delta's restructuring plan and agree to support the start of a formal antitrust review.

The committee of Delta creditors will have until Thursday to decide if it wants to proceed with the US Airways offer. For now, I would be willing to bet that Delta is not going to go for this current offer and instead decide to follow the advice of its chief executive, Gerald Grinstein, who has repeatedly insisted the airline would be better off to emerge from bankruptcy-court protection on its own later this year

The main reason behind the raise in the current offer can be traced to a meeting between US Airways and some Delta creditors who aren't part of the official committee that advised the Airliner to increase its current bid by $2 billion. Will this be enough to sway some votes in US Airways favor? I doubt it, but we should get a better picture of the current takeover situation over the next few days.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.

US Airways ups the ante for Delta originally appeared on BloggingStocks on Mon, 29 Jan 2007 10:13:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>dalrqdeltadelta airlinesDeltaAirlineshostile bidhostile takeoverHostileBidHostileTakeoverlccmergeroffertakeoverus airwaysUsAirwaysMon, 29 Jan 2007 10:13:00 EST