Markets & Finance

Intersil to Acquire Elantec Semiconductor


Chipmaker Intersil Corp. (ISIL) agrees to acquire Elantec Semiconductor (ELNT) for about $1.4 billion in cash and stock. Terms: Elantec shareholders will receive 1.24 shares of Intersil stock for each share of Elantec stock, along with $8 per share in cash, valuing the buyout price for Elantec at $53.45 a share. (3/11)

Department-store chains Federated Department Stores (FD) and May Department Stores (MAY), have been holding preliminary merger discussions, reports the Wall Street Journal. A deal is not imminent, and May and Federated have previously held informal talks in the past, the paper says. (3/11)

EUniverse Inc. (EUNI) and online media and direct marketing company L90 Inc. (LNTY) terminate their merger agreement amid an investigation into L90's financial records. L90 said its chief executive has resigned and that it has placed the company's chief financial officer on administrative leave. EUniverse had agreed in January to acquire L90 for $2 to $2.20 per share, or about $55 million. (3/11)

Arthur Andersen LLP advisers have approached rival Big Five accounting firms about acquiring all or parts of Andersen, and conversations with Deloitte Touche Tohmatsu have taken place, according to a report in the Wall Street Journal. (3/11)

Singapore-based Creative Technology (CREAF), a maker of sound cards and other digital entertainment products, agrees to acquire the rest of computer graphics company 3Dlabs Inc. (TDDD) that it doesn't own for about $103.7 million in cash and stock. Creative will pay $1.20 in cash and $2.40 in stock for each share of 3Dlabs that it doesn't already own. (3/8)

Limited Inc. (LTD) raises its bid for Intimate Brands (IBI) shares it does not own to 1.1 LTD shares per IBI share, vs. earlier bid of 1.046 LTD shares. (3/7)


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