M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Wednesday, May 2, 2007

Wednesday Takeover News

Deals

Bisys, a financial outsourcing company, today announced that Citi (the financial services giant previously known as Citigroup) has agreed to acquire it in a transaction valued at approximately $1.45 billion.

Blockbuster, the movie rental chain, today announced it sold its U.K. video game retailer, Game Station, to U.K. Game Group for $150 million in cash.

Countrywide, the UK property company, received an increased bid from Apollo Management on Tuesday  after Countrywide received another bid from an undisclosed party believed to be 3i say reports.

MAFBancorp, the Chicago-based bank, yesterday announced an agreement to be acquired by National City Corporation for $1.9 billion.

News Corp., the news company controlled by Rupert Murdoch, yesterday disclosed a $5 billion offer for Dow Jones, the publisher of The Wall Street Journal. The controlling shareholders of Dow Jones, the Bancroft family, quickly issued a statement opposing the offer.

Other/Rumors

The Dolan family is close to a deal to for their third attempt to take private Cablevision Systems, the New York-based cable operator, for approximately $10.5 billion say reports.

Institutional Shareholder Services recommended that shareholders of Clear Channel vote against a $27 billion agreement for Clear Channel to be acquired by private equity firms Bain Capital and Thomas H. Lee Partners.  ISS said the offer was still too low despite being raised once already. 

http://lawprofessors.typepad.com/mergers/2007/05/wednesday_takeo.html

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