Brightpoint Soars On Acquisition (GM, TEF, AMLN, CELL, SNE)
General Motors Company (NYSE:GM) shares declined 0.20% to $19.68. The company yesterday said that it would transfer the lions share of its logistics business in Europe to Gefco, which is a unit run by French auto maker Peugeot (PEUP.PA) effective 2013. The alliance between Opel’s parent company General Motors and Peugeot also includes a co-operation between Opel and Gefco, Peugeot’s car delivery group.
Telefonica S.A. (ADR) (NYSE:TEF) stock fell 0.76% to $13 after the company announced that in relation to the agreement reached in March 2012 with the Colombian government, as of 29th of June the closing of the merger process between Telefonica Moviles Colombia SA and Colombia Telecomunicaciones SA ESP has taken place.
Henceforth, Telefonica SA holds 70% of the share capital of the resulting company while the Government controls the remaining 30%. As a result of the merger, consolidated net financial debt of Telefonica SA will be reduced at the end of the second quarter of 2012 by approximately EUR 1,450 million.
Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) stock surged 8.90% to $30.71 after Bristol-Myers Squibb Co will buy Amylin Pharmaceuticals for about $5.3 billion in cash. Bristol-Myers had also reached a follow-on deal with UK-based AstraZeneca PLC to collaborate on developing Amylin’s products once the buyout is completed, expanding upon an existing partnership between the two pharmaceutical makers in diabetes treatments. AstraZeneca will pay $3.4 billion in cash for these rights.
Brightpoint, Inc. (NASDAQ:CELL) shares soared 63.96% to $8.87 after Ingram Micro has agreed to acquire Brightpoint for roughly $622 million as it looks to expand in the mobility market. Ingram will pay $9 a share, a 66% premium to Brightpoint’s Friday close. Ingram Micro expects to close the deal in the third quarter.
Sony Corporation (ADR) (NYSE:SNE)’s Sony Computer Entertainment said that it has entered into a definitive agreement on June 30 to acquire Gaikai Inc., for around $380 million. Through the deal, Sony Computer Entertainment will establish a new cloud service and expand its network business by taking advantage of Gaikai’s technology and infrastructure, including data centers servicing dozens of countries and key partners around the world.