Markets & Finance

Zimmer Set to Launch Hostile Bid for Centerpulse


Zimmer Holdings (ZMH) says it will formally launch a hostile $3.2 billion cash-and-stock bid for orthopedics maker Centerpulse (CEP) on Thursday, June 19, according to news reports. Swizterland-based Centerpulse had agreed to be acquired by Smith & Nephew PLC (SNN) for $2.6 billion in cash and stock. (6/17)

Omnicare Inc. (OCR) agrees to acquire SunScript Pharmacy Corporation (SUHG) for up to $90 million in cash. (6/17)

PeopleSoft (PSFT) amends its $1.75 billion, $14.33 per share takeover bid for J.D. Edwards (JDEC) by making $863 million of the total proposed purchase price payable in cash. (6/16)

Best Buy (BBY) sold its Musicland retail unit to investment firm Sun Capital Partners Inc. for only debt assumption. Best Buy paid $425 million for the 1,200-store chain in 2001. (6/16)

Health-technology outfit WebMD (HLTH) said it is buying closely-held Advanced Business Fulfillment for $110 million in cash at closing and up to an additional $150 million if certain milestones are met. (6/16)

Wimm-Bill-Dann Foods ADS (WBD) says some of its shareholders are talking with Groupe Danone about a possible acquisition. (6/16)

Sovereign Bancorp (SOV) agrees to buy First Essex Bancorp (FESX) for $48 per share, 2.9250 SOV share or a combination thereof per FESX share. (6/13)

Quality King Distributors Inc. withdraws its $4 per share takeover bid for Parlux Fragrance (PARL). (6/13)

PeopleSoft rejects Oracle's (ORCL) unsolicited $16 per share bid. (6/12)

Oracle's hostile bid for PeopleSoft is heightening speculation that Siebel Systems (SEBL) could become a takeover target: WSJ. (6/10)

General Dynamics (GD) agrees to buy Veridian Corp (VNX) for $35 per share. (6/9)


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