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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (3329)	4/19/2013 9:12:01 AM
From: richardred	Respond to of 7239

Lenovo says in potential M&A talks; report of IBM server deal Thu Apr 18, 2013 10:02pm EDT <span class="articleLocation">(Reuters) - Lenovo Group ( 0992.HK) said on Friday it was in preliminary talks about a potential acquisition, following a media report that IBM Corp ( IBM.N) was negotiating the sale of its x86 server hardware business to the Chinese computer maker. IBM wants $5 billion to $6 billion for the business, which sells low-priced servers traditionally used to power large corporate data centers, said technology news site CRN, citing a high ranking industry executive. ( link.reuters.com/zad57t) Lenovo did not identify the acquisition target. "As at the date of this announcement, no material terms concerning the potential acquisition Have been agreed," the company said in a statement to the Hong Kong stock exchange. Beijing-based Lenovo acquired IBM's PC unit in 2005 in a $1.25 billion stock and cash deal. IBM Chief Financial Officer Mark Loughridge said the company would not respond to rumors when asked about the CRN story on a post- earnings conference call on Thursday. IBM, the world's largest technology services company, reported an increase in first-quarter earnings, but missed estimates due to the depreciation of the Japanese yen. reuters.com

To: richardred who wrote (3329)	6/24/2013 9:15:59 AM
From: richardred	Respond to of 7239

Western Digital to buy solid-state drive maker Stec Mon Jun 24, 2013 8:56am EDT <span class="articleLocation">(Reuters) - Hard disk drive maker Western Digital Corp ( WDC.O) said it would buy Stec Inc ( STEC.O) for about $340 million in cash to beef up its solid-state drive business. The offer of $6.85 per share represents a 91 percent premium to Stec's closing share price on Friday. The money-losing Stec, which makes solid-state drives that are faster and costlier than traditional magnetic drives, has lost market share in the highly lucrative but cut-throat market. Its co-founder, Manouch Moshayedi, resigned as chief executive in September over insider trading charges. One of Stec's biggest shareholders, Balch Hill Capital, which holds 9 percent of the company, said in December Stec should consider selling itself to a larger industry player. Balch Hill also said Manouch Moshayedi and his brother, Mark Moshayedi, should resign from the company's board. Mark took over as the interim CEO when his brother resigned. Stec's revenue has been declining since 2011 and halved in the first quarter this year from a year earlier. The company's stock has also halved this year. The sale is expected to close in the third or fourth quarter of 2013. Wells Fargo Securities LLC is the financial adviser to Western Digital while BofA Merrill Lynch advises Stec. Stec's shares closed at $3.59 on the Nasdaq on Friday, while those of Western Digital closed at $60.19. reuters.com