M&A News: Dell, Liberty Global, Virgin Media, Elan, Biogen
1. In the biggest leveraged buyout since the onset of the financial crisis, Dell (DELL) is going private in a deal valued at $24.4 billion.
2. In a bid to challenge Rupert Murdoch’s in the U.K., John Malone’s Liberty Global (LBTYA), the world’s second-largest cable company, is buying pay-TV provider Virgin Media (VMED:LN) for $16 billion.
3. Irish drugmaker Elan (ELN) is selling its 50 percent stake in the multiple sclerosis drug Tysabri to partner Biogen (BIIB) for $3.25 billion plus future royalties. Elan will seek acquisitions with the proceeds.
4. Looking to add oil production assets, China Petroleum & Chemical (SNP) plans to raise $3.1 billion in its biggest share sale since going public in 2000.
5. Malaysia’s MISC (MISC:MK), the world’s No. 2 shipper of liquefied natural gas, rejected a $2.9 billion buyout offer from Petroliam Nasional, which already owns 63 percent of MISC’s shares.
6. H&R Real Estate Investment Trust and KingSett Capital joined forces in a $2.8 billion offer for Primaris Retail REIT, ending a bidding war for the Canadian shopping mall owner.
7. Pfizer’s animal health unit Zoetis (ZTS) raised $2.2 billion in the biggest IPO since Facebook’s (FB) debut last year. Pfizer (PFE) spun off the company after losing patent protection on its bestseller, Lipitor.
9. SABMiller’s (SAB:LN) joint venture in China will pay $851 million for seven breweries and other assets from to boost its share of the world’s top beer market.
10. Amedeo Modigliani’s 1919 portrait of his common-law wife, Jeanne Hébuterne au Chapeau, sold for $42.1 million at a Christie’s sale in London.