Data Wrap
Amscan Inc. agreed to acquire the assets of American Greetings Corp. for $25 million in cash, and other recent transactions.
December 23, 2009
Target – Acquirer – Description
Affinity LLC-Wireless Asts -- Keyon Communications Hldgs Inc.
KeyOn Communications Holdings Inc. (KeyOn) agreed to acquire the wireless broadband assets of Affinity Wireless Solutions LLC, an Ottumwa-based provider of internet connection services. Concurrently, KeyOn agreed to acquire the certain assets of RidgeviewTel LLC. The two transactions were to have a combined value of $0.371 million. The consideration was to consist of the issuance of 0. 239 million KeyOn common shares. The shares were valued based on KeyOn's closing stock price of $1.55 on 21 Decemner 2009, the last full trading day prior to the announcement.
Kennecott Expl-Ambler Project -- NovaGold Resources Inc.
NovaGold Resources Inc. (NovaGold) of Canada agreed to acquire the entire share capital of the Ambler Copper- Zinc-Gold-Silver Project of Kennecott Exploration Co., a Salt Lake-based copper and nickel mining company and a unit of Rio Tinto Plc's Kennecott Corp. subsidiary, for $29 million. The consideration was to consist of $24 million in cash and $5 million in NovaGold's new ordinary shares.
American Greetings Corp.-Equip -- Amscan Inc.
Amscan Inc., a unit of AAH Holdings Corp's Amscan Holdings Inc. subsidiary, planned to acquire the equipment assets of American Greetings Corp., a Cleveland- based publisher of greeting cards, for an estimated $25 million in cash and an undisclosed amount in AAH Holdings Corp. common shares.
Devon Energy Corp-Oil Ppty -- AP Moller Maersk AS
AP Moller Maersk AS of Denmark agreed to acquire the Gulf of Mexico offshore oil properties (Gulf properties) of Cascade, Jack, St Malo, Kaskida and offshore Itaipu prospect in Brazil of Devon Energy Corp. (Devon), an Oklahoma-based oil and gas exploration and production company, for $1.3 billion. Originally, in November 2009, Devon announced that it was seeking a buyer for its Gulf properties. Anadarko Petroleum Corp. was named as potential bidder for Itaipu prospect in Brazil.
Fremont Michigan InsuraCorp. -- Steak n Shake Co.
Steak n Shake Co. planned to launch an unsolicited tender offer to acquire the remaining 90.1% interest, or 1.574 million common shares, which it did not already own, in Fremont Michigan InsuraCorp. Inc., an insurance holding company, for $24.5 in cash and Steak common shares, or a total value of $38.568 million. The consideration was subject to proration whereby the maximum cash and aggregate common stock issuable shall be 50% and 50% of the total number of shares outstanding, respectively.
Global Aeronautica LLC -- Boeing Co.
Boeing Co. acquired the remaining 50% interest, which it did not already own, in Global Aeronautica LLC, a Charleston-based provider of fuselage assembly services, from its joint venture partner Alenia North America Inc., a unit of Finmeccanica SpA's Alenia Aeronautica Inc. subsidiary.
Millrock Resources Inc.-Bluff -- Valdez Gold Inc.
Valdez Gold Inc. of Canada (Valdez) signed a Letter of Intent {LoI} to acquire a 55% interest in the Bluff Project (Bull), located in Seward Peninsula, Alaska, of Millrock Resources Inc., a Vancouver-based metal mining company, for $3.377 million, to form a joint venture. The consideration was to consist of $3.3 million in cash and the issuance of 0.9 million common shares valued at $0. 077 million. The shares were valued based on Valdez's closing stock price of $0. 085 on 21 December 2009, the last full trading day prior to the announcement. Concurrently, Valdez was granted an option to raise its interest to 75% from 55%, by acquiring a 20% stake in Bull.
Millrock Resources Inc.-Bluff -- Valdez Gold Inc.
Valdez Gold Inc. of Canada (Valdez) was granted an option to raise its interest to 75% from 55%, by acquiring a 20% stake, in the Bluff Project (Bull), located in Seward Peninsula, Alaska, of Millrock Resources Inc., a Vancouver-based metal mining company, for $3.694 million, to form a joint venture. The consideration was to consist of $3.6 million in cash and the issuance of 1.1 million common shares valued at $0. 094 million. The shares were valued based on Valdez's closing stock price of $0. 085 on 21 December 2009, the last full trading day prior to the announcement. Concurrently, Valdez signed a Letter of Intent to acquire a 55% interest in Bull.
