The following provides information on selected merger-and-acquisition deals.All figures are updated by Dow Jones Newswires, with share prices as of 10 a.m.EDT Monday.
Annualized rate of return is based on Monday's date and the expected closingdate and isn't compounded. Expected closing dates are compiled from companystatements and reports, and when a time period is cited, that information isprovided with that period's midpoint date, which was used to make the annualizedreturn calculation.
Deals are listed alphabetically by target, and spreads don't include dividendor interest payments. "Premium offered" refers to the amount that the currentvalue of the offer exceeds the stock price of the target. Deal values don'tinclude the assumption of debt.(Dow Jones 202-862-3545)
Stock price data source: FactSet Research Systems.
Acxiom Corp. (ACXM), Silver Lake Partners/ValueAct Capital Partners LPPremium offered: $1.70 or 6.69%Acquirer: Silver Lake/ValueActTarget: ACXMOffer per share: $27.10 cashValue of outstanding common equity: $2,121,930,000Target share price: $25.40Expected closing: Summer 8/7/2007Annualized gain: 305.36% A.G. Edwards Inc. (AGE), Wachovia Corp. (WB)Premium offered: $1.37 or 1.69%Acquirer: WBTarget: AGEOffer per share: 0.9844 share and $35.80 per shareValue of offer per share: $82.53Value of outstanding common equity securities: $6,272,239,568Acquirer share price: $47.47Target share price: $81.16Expected closing: Fourth quarter 11/15/2007Annualized gain: 5.70% Alliance Data Systems Corp. (ADS), Blackstone GroupPremium offered: $6.01 or 7.94%Acquirer: BlackstoneTarget: ADSOffer per share: $81.75 cashValue of outstanding common equity: $6,433,725,000Target share price: $75.74Expected closing: Late 2007 12/31/2007Annualized gain: 18.81% Alltel Corp. (AT), TPG Capital/GS CapitalPremium offered: $4.98 or 7.49%Acquirer: TPG/GSTarget: ATOffer per share: $71.50 cashValue of outstanding common equity: $24,703,250,000Target share price: $66.52Expected closing: First quarter 2008 2/15/2008Annualized gain: 13.66% Andrew Corp. (ANDW), CommScope Inc. (CTV)Premium offered: $0.93 or 6.61%Acquirer: CTVTarget: ANDWOffer per share: $15 cashValue of outstanding common equity: $2,335,500,000Target share price: $14.07Acquirer share price: $57.18Expected closing: Late 2007 12/31/2007Annualized gain: 15.67% Applebee's International Inc. (APPB), IHOP Corp. (IHP)Premium offered: $0.96 or 3.91%Acquirer: IHPTarget: APPBOffer per share: $25.50 cashValue of outstanding common equity: $1,903,626,000Target share price: $24.54Expected closing: Fourth quarter 11/15/2007Annualized gain: 13.22% aQuantive Inc. (AQNT), Microsoft Corp. (MSFT)Premium offered: $0.54 or 0.82%Acquirer: MSFTTarget: AQNTOffer per share: $66.50 cashValue of outstanding common equity: $5,246,850,000Target share price: $65.96Acquirer share price: $29.10Expected closing: First half of Microsoft's fiscal 2008 9/30/2007Annualized gain: 4.82% Archstone-Smith (ASN), Tishman Speyer/Lehman Bros.Premium offered: $3.08 or 5.34%Acquirer: Tishman/LehmanTarget: ASNOffer per share: $60.75 cashValue of outstanding common equity: $13,541,175,000Target share price: $57.67Expected closing: Third quarter 8/15/2007Annualized gain: 121.84% Armor Holdings Inc. (AH), BAE Systems Plc (BAESY)Premium offered: $0.23 or 0.26%Acquirer: BAESYTarget: AHOffer per share: $88 cashValue of outstanding common equity: $3,132,800,000Target share price: $87.77Acquirer share price: $34.60Expected closing: Third quarter 8/15/2007Annualized gain: 5.98% Avaya Inc. (AV), TPG Capital, Silver LakePremium offered: $0.87 or 5.23%Acquirer: TPG, Silver LakeTarget: AVOffer per share: $17.50 cashValue of outstanding common equity: $7,873,250,000Target share price: $16.63Expected closing: Fall 11/7/2007Annualized gain: 19.10% Bausch & Lomb Inc. (BOL), Warburg PincusPremium offered: $0.07 or 0.11%Acquirer: Warburg PincusTarget: BOLOffer per share: $65 cashValue of outstanding common equity: $3,536,000,000Target share price: $64.93Expected closing: N/AAnnualized gain: N/A
Note: On July 5, Advanced Medical Optics Inc. (EYE) made a $75 per share offerfor Bausch & Lomb .
Biomet Inc. (BMET), Blackstone Group consortiumPremium offered: $0.48 or 1.05%Acquirer: Blackstone Group consortiumTarget: BMETOffer per share: $46 cashValue of outstanding common equity: $11,265,400,000Target share price: $45.52Expected closing: Late October 10/31/2007Annualized gain: 4.14% Bisys Group Inc. (BSG), Citigroup (C)Premium offered: - $0.11 or -0.92%Acquirer: CTarget: BSGOffer per share: $11.85 cashValue of outstanding common equity: $1,437,405,000Target share price: $11.96Acquirer share price: $47.13Expected closing: Second half of 2007 9/30/2007Annualized gain: -5.41%
Note: A special dividend of 15 cents will also be paid to Bisys shareholderswhen the deal closes.
Cablevision Systems Corp. (CVC), Dolan Family GroupPremium offered: $0.82 or 2.31%Acquirer: Dolan familyTarget: CVCOffer per share: $36.26 cashValue of outstanding common equity: $10,602,424,000Target share price: $35.44Expected closing: N/AAnnualized gain: N/A Catalina Marketing Corp. (POS), Hellman & Friedman Capital Partners VI LPPremium offered: $2.84 or 9.58%Acquirer: Hellman & FriedmanTarget: POSOffer per share: $32.50 cashValue of outstanding common equity: $1,517,750,000Target share price: $29.66Expected closing: Third quarter 8/15/2007Annualized gain: N/A Ceridian Corp. (CEN), Thomas H. Lee Partners L.P.Premium offered: $2.40 or 7.14%Acquirer: Lee PartnersTarget: CENOffer per share: $36 cashValue of outstanding common equity: $5,162,400,000Target share price: $33.60Expected closing: Fourth quarter 11/15/2007Annualized gain: 24.14% CDW Corp. (CDWC), Madison Dearborn PartnersPremium offered: $3.69 or 4.39%Acquirer: Madison DearbornTarget: CDWCOffer per share: $87.75 cashValue of outstanding common equity: $6,949,800,000Target share price: $84.06Expected closing: Early fourth quarter 10/1/2007Annualized gain: 25.43% Chaparral Steel Co. (CHAP), Gerdau Ameristeel Corp. (GNA)Premium offered: $2.39 or 2.86%Acquirer: GNATarget: CHAPOffer per share: $86 cashValue of outstanding common equity: $4,024,800,000Target share price: $83.61Expected closing: Late 2007 12/31/2007Annualized gain: 6.78% Clear Channel Communications Inc. (CCU), Thomas H. Lee Partners LP/Bain Capital
Group
Premium offered: $2.28 or 6.18%Acquirer: Lee/Bain GroupTarget: CCUOffer per share: $39.20 cashValue of outstanding common equity: $19,356,960,000Target share price: $36.92Expected closing: Late 2007 12/31/2007Annualized gain: N/A
Note: As an alternative to receiving the $39.20 per share in cash, ClearChannel's shareholders will be offered the opportunity to exchange their commonshares on a one-for-one basis for shares of Class A stock in the new company.
Community Banks Inc. (CMTY), Susquehanna Bancshares Inc. (SUSQ)Premium offered: $7.85 or 30.02%Acquirer: SUSQTarget: CMTYOffer per share: $34 cash or stockValue of outstanding common equity: $799,000,000Target share price: $26.15Acquirer share price: $17.37Expected closing: Fourth quarter 11/15/2007Annualized gain: 101.45%
Note: Community Banks shareholders can receive either $34 or 1.48 shares ofSusquehanna stock for each Community Banks share they own.
Crescent Real Estate Equities Co. (CEI), Morgan Stanley Real EstatePremium offered: $0.51 or 2.29%Acquirer: Morgan StanleyTarget: CEIOffer per share: $22.80 cashValue of outstanding common equity: $2,343,840,000Target share price: $22.29Expected closing: Late third quarter 9/30/2007Annualized gain: 13.47% Cytyc Corp. (CYTC), Hologic Inc. (HOLX)Premium offered: $1.30 or 3.05%Acquirer: HOLXTarget: CYTCOffer per share: 0.52 share and $16.50 per shareValue of offer per share: $44.03Value of outstanding common equity securities: $5,055,103,200Acquirer share price: $52.95Target share price: $42.73Expected closing: Third quarter 8/15/2007Annualized gain: 69.62% Dade Behring Holdings Inc. (DADE), Siemens AG (SI)Premium offered: $2.83 or 3.81%Acquirer: SITarget: DADEOffer per share: $77.00 cashValue of outstanding common equity: $6,329,400,000Target share price: $74.18Acquirer share price: $130.46Expected closing: Second quarter 2008 6/30/2008Annualized gain: 4.14% DJO Inc. (DJO), Blackstone Group (BX)Premium offered: $1.48 or 3.03%Acquirer: Blackstone GroupTarget: DJOOffer per share: $50.25 cashValue of outstanding common equity: $1,185,900,000Target share price: $48.77Expected closing: Fourth quarter 11/15/2007Annualized gain: 10.26%
Dobson Communications Corp. (DCEL), AT&T Inc. (T)Premium offered: $0.60 or 4.84%Acquirer: TTarget: DCELOffer per share: $13 cashValue of outstanding common equity: $2,226,900,000Target share price: $12.40Expected closing: Fourth quarter 11/15/2007Annualized gain: 16.35% ECI Telecom Ltd. (ECIL), Swarth GroupPremium offered: $0.70 or 7.53%Acquirer: SwarthTarget: ECILOffer per share: $10 cashValue of outstanding common equity: $1,193,000,000Target share price: $9.30Expected closing: Late 2007 12/31/2007Annualized gain: 17.84% eFunds Corp. (EFD), Fidelity National Information Services Inc. (FIS)Premium offered: $0.98 or 2.76%Acquirer: FISTarget: EFDOffer per share: $36.50 cashValue of outstanding common equity: $1,730,100,000Target share price: $35.52Acquirer share price: $50.48Expected closing: Late third quarter 9/30/2007Annualized gain: 16.24% EGL Inc. (EAGL), Apollo Management LPPremium offered: $0.42 or 0.89%Acquirer: EAGLTarget: Apollo GroupOffer per share: $47.50 cashValue of outstanding common equity: $2,208,750,000Target share price: $47.08Expected closing: Third quarter 8/15/2007Annualized gain: 20.35% Energy East Corp. (EAS), Iberdrola SAPremium offered: $3.00 or 11.76%Acquirer: IberdrolaTarget: EASOffer per share: $28.50 cashValue of outstanding common equity: $4,503,000,000Target share price: $25.50Expected closing: In 2008 6/30/2008Annualized gain: 12.78% First Data Corp. (FDC), Kohlberg Kravis Roberts & Co.Premium offered: $1.88 or 5.85%Acquirer: KKRTarget: FDCOffer per share: $34 cashValue of outstanding common equity: $25,602,000,000Target share price: $32.12Expected closing: Late third quarter 9/30/2007Annualized gain: 34.46% First Republic Bank (FRC), Merrill Lynch & Co. (MER)Premium offered: $0.60 or 1.10%Acquirer: MERTarget: FRCOffer per share: $55 cash & stockValue of outstanding common equity: $1,699,500,000Target share price: $54.40Acquirer share price: $75.43Expected closing: Third quarter 8/15/2007Annualized gain: 25.16% Florida East Coast Industries Inc. (FLA), Fortress Investment Group LLCPremium offered: $21.49 or 34.38%Acquirer: FortressTarget: FLAOffer per share: $84 cash and dividendValue of outstanding common equity: $2,998,800,000Target share price: $62.51Expected closing: Third quarter 8/15/2007Annualized gain: 784.26%
Note: The $84 offer includes $62.50 in cash and a special dividend of $21.50.
Genesco Inc. (GCO), Finish Line Inc. (FINL)Premium offered: $4.19 or 8.33%Acquirer: FINLTarget: GCOOffer per share: $54.50 cashValue of outstanding common equity: $1,242,600,000Target share price: $50.31Acquirer share price: $6.77Expected closing: Fall 11/7/2007Annualized gain: 30.40% Genesis HealthCare Corp. (GHCI), Formation Capital/JER PartnersPremium offered: $0.02 or 0.03%Acquirer: Formation/JERTarget: GHCIOffer per share: $69.35 cashValue of outstanding common equity: $1,366,195,000Target share price: $69.33Expected closing: Third quarter 8/15/2007Annualized gain: N/A Greater Bay Bancorp (GBBK), Wells Fargo & Co. (WFC)Premium offered: $1.44 or 5.32%Acquirer: WFCTarget: GBBKOffer per share: $28.50 stockValue of outstanding common equity: $1,453,500,000Target share price: $27.06Acquirer share price: $33.58Expected closing: Fourth quarter 11/15/2007Annualized gain: 17.98%
Note: If Wells Fargo's stock price, as defined in the merger agreement, isgreater than $32.175 and less than $39.325, the exchange ratio will bedetermined by dividing $28.50 by the Wells Fargo stock price. If its price isequal to or less than $32.175, then the exchange ratio will be 0.8858 shares forone Greater Bay share. If the price is greater than or equal to $39.325, thenthe exchange ratio will be 0.7247.
Guitar Center Inc. (GTRC), Bain Capital Partners LLCPremium offered: $5.25 or 9.09%Acquirer: Bain CapitalTarget: GTRCOffer per share: $63 cashValue of outstanding common equity: $1,864,800,000Target share price: $57.75Expected closing: Fourth quarter 11/15/2007Annualized gain: 30.72% Harman International Industries Inc. (HAR), Kohlberg Kravis Roberts and GS
Capital
Premium offered: $4.57 or 3.96%Acquirer: KKR/GS CapitalTarget: HAROffer per share: $120 cashValue of outstanding common equity: $7,860,000,000Target share price: $115.43Expected closing: Third quarter 8/15/2007Annualized gain: 90.32% Harrah's Entertainment Inc. (HET), Apollo/Texas Pacific groupPremium offered: $5.38 or 6.36%Acquirer: Apollo/Texas Pacific groupTarget: HETOffer per share: $90 cashValue of outstanding common equity: $16,740,000,000Target share price: $84.62Expected closing: Late 2007 12/31/2007Annualized gain: 15.07% Hilton Hotels Corp. (HLT), Blackstone Group (BX)Premium offered: $3.33 or 7.54%Acquirer: BXTarget: HLTOffer per share: $47.50 cashValue of outstanding common equity: $18,515,500,000Target share price: $44.17Acquirer share price: $24.78Expected closing: Fourth quarter 11/15/2007Annualized gain: 25.48% Horizon Offshore Inc. (HOFF), Cal Dive International Inc. (DVR)Premium offered: $0.57 or 3.11%Acquirer: DVRTarget: HOFFOffer per share: 0.625 share and $9.25 per shareValue of offer per share: $18.87Value of outstanding common equity securities: $617,008,125Acquirer share price: $15.39Target share price: $18.30Expected closing: Third quarter 8/15/2007Annualized gain: 70.90% Huntsman Corp. (HUN), Apollo Management LPPremium offered: $2.46 or 9.63%Acquirer: ApolloTarget: HUNOffer per share: $28 cashValue of outstanding common equity: $6,213,200,000Target share price: $25.54Expected closing: July 2008 7/15/2008Annualized gain: 10.02%
Note: On July 22, Huntsman announced that it terminated its merger agreementwith Basell AF.
InfraSource Services Inc. (IFS), Quanta Services Inc. (PWR)Premium offered: $0.36 or 1.07%Acquirer: PWRTarget: IFSShares offered per share: 1.223 sharesValue of offer per share: $33.78Value of outstanding common equity: $1,368,060,030Acquirer share price: $27.62Target share price: $33.42Expected closing: Third quarter 8/15/2007Annualized gain: 24.52%Investors Financial Services Corp. (IFIN), State Street Corp. (STT)Premium offered: - $1.86 or -3.00%Acquirer: STTTarget: IFINShares offered per share: 0.906 shareValue of offer per share: $60.28Value of outstanding common equity: $3,984,255,498Acquirer share price: $66.53Target share price: $62.14Expected closing: Third quarter 8/15/2007Annualized gain: -68.42%IPSCO Inc. (IPS), SSAB Svenskt Stal ABPremium offered: $0.03 or 0.02%Acquirer: SSABTarget: IPSOffer per share: $160 cashValue of outstanding common equity: $7,552,000,000Target share price: $159.97Expected closing: Third quarter 8/15/2007Annualized gain: N/A K2 Inc. (KTO), Jarden Corp. (JAH)Premium offered: $0.31 or 2.1%Acquirer: JAHTarget: KTOOffer per share: 0.1086 share and $10.85 per shareValue of offer per share: $15.19Value of outstanding common equity securities: $750,476,303Acquirer share price: $39.98Target share price: $14.88Expected closing: Third quarter 8/15/2007Annualized gain: 47.81%
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