bloggingbuyouts

Apria Healthcare (NYSE: AHG), a home healthcare services firm, agreed to be acquired by an affiliate of Blackstone Group (NYSE: BX) for approximately $1.6 billion. AHG share holders will receive $21 in cash for each share they own.

AHG closed at $15.82. AHG July option implied volatility of 46 is near its 26-week average according to Track Data, suggesting non-directional risk.

Buyout Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Harris Corp. (NYSE: HRS) is recently trading around $55, down from $65.78 last week. Harris said "that from time to time it is approached by other companies with expressions of interest in various types of transactions, including a potential sale of the company. Harris stated today that it is not pursuing a merger or a sale."

HRS June option implied volatility is at 42, July at 37, near its 26-week average of 37 according to Track Data, suggesting non-directional price risk.

M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

CNOOC Ltd. (NYSE: CEO) closed at $185.35. The Globe and Mail says long-held speculation that China is seeking to buy Canadian oil and gas companies resurfaced yesterday, as a Chinese newspaper (South China Morning Post) reported the China National Offshore Oil Corp (CNOOC) CEO may be looking to acquire Talisman Energy (NYSE: TLM).

CNOOC over all option implied volatility of 46 is near its 26-week average of 47 according to Track Data, suggesting non-directional risk.

M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Trane (NYSE: TT) is recently trading down to $45 range. Ingersoll-Rand (NYSE: IR) announced the purchase of Trane for $36.50 per share in cash and 0.23 shares of IR per share of TT on Dec. 17, 2007. The deal is expected to close in the second quarter.

The premium spread stays tight at approximately 2%. TT call option volume of 94 contracts compares to put volume of 2,225 contracts. TT April and May option implied volatility of 37 is above its 26-week average of 17 according to Track Data, suggesting large price movement.

M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

BCE Inc. (NYSE: BCE), Canada's largest telecommunications company, announced on June 30 that it agreed to be acquired by an investment arm of Ontario Teachers Pension, Providence Partners and Madison Dearborn Partners for an announced deal price of $42.75 per share. The deal is expected to close in Q1 of 2008. BCE closed at $39.12. BCE March option implied volatility of 21 is above its 26-week average of 16 according to Track Data, suggesting larger risk.

Clear Channel Communications (NYSE: CCU) closed at $35.30. Thomas H. Lee Partners and Bain Capital are expected to close on their $39.20 cash bid for CCU in early 2008. CCU option implied volatility of 35 is above its 26-week average of 19 according to Track Data, suggesting larger risk.

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Alliance Data Systems (NYSE: ADS), a provider of loyalty and marketing solutions derived from transaction-rich data, announced on 5/17 it would be acquired for $81.75 in cash ($7.8 billion) by Blackstone Capital Partners (NYSE: BX). ADS is recently down $2.80 to $75.48. ADS December option implied volatility of 48 is above its 26-week average of 18 according to Track Data, suggesting larger risk.

Sprint Nextel (NYSE: S) is recently up .39 to $15.23. The Wall Street Journal reported S rejected a $5 billion investment offer from a group led by ex-Sprint Chairman Donahue according to sources. S option volume of 10,285 contracts compares to put volume of 3,125 contracts. S December option implied volatility of 37 is above its 34 according to Track Data, suggesting larger risk.

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Tesoro(NASDAQ:TSO) share price down into Tracinda $64 cash tender expiring Dec. 6. TSO is recently down 82c to $55.03. Tracinda announced on October 26 the intention to make cash tender for up to 21,875,000 shares of TSO for $64 per share. TSO, an independent refiner and marketer of petroleum products, has a market cap of $7.6 billion. Crude oil futures are up 0.21% to $98.39 according to Bloomberg. TSO is expected to host an analyst meeting on December 5. TSO over all option implied volatility of 44 is near its 26-week average of according to Track Data, suggesting non-directional price fluctuations.

Royal Philips Holdings (NYSE:PHG) say's it has agreed to pay $2.7 billion for Genlyte (NASDAQ:GLYT).

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

E*Trade(NYSE:ETFC) is recently up $1.75 to $5.34 on the appearance bankruptcy concerns have apparently diminished on expectations of a capital infusion from private equity. It has also been widely speculated ETFC brokerage account unit will be purchased by a money center or Ameritrade(NASDAQ:AMTD). ETFC announced on November 9th it expected to take significant write-downs in Q4 on its asset backed securities. ETFC announced The Securities and Exchange Commission is conducting an informal inquiry of ETFC loan and securities portfolios. ETFC December option implied volatility of 177 is above its 26-week average of 54, according to Track Data, suggesting larger price fluctuations.

M&A Update: provided by Stock Specialist Paul Foster of theflyonthewall.com.

Allegheny Tech (NYSE: ATI) is recently up $2.60 to $96.83 on renewed buyout chatter. ATI, a diversified specialty metals producer, has a market cap of $9.4 billion. ATI November 105 calls have traded 155 times on transaction volume of 2,017 contracts, above its open interest of 1,813 contracts. ATI November 95 straddle is priced at $7.50. ATI December option implied volatility of 53 is above its 26-week average of 43 according to Track Data, suggesting larger price risks.

Alliance Data Sys (NYSE: ADS), a provider of loyalty and marketing solutions derived from transaction-rich data, announced on 5/17 it would be acquired for $81.75 in cash ($7.8 billion) by Blackstone Capital Partners (NYSE: BX). ADS is recently trading at $76.91. ADS call option volume of 5,935 contracts compares to put volume of 28,841 contracts. BX is expected to close on the purchase of ADS before the end of the year. ADS December option implied volatility of 26 is above its 19-week average of 16 according to Track Data, suggesting larger risk.

Merger Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Boston Scientific(NYSE:BSX) is recently up 10 cents to $13.79 on unconfirmed chatter Tracinda is looking at BSX for $16 a share. BSX has a market cap of $20 billion with long term debt of $7.9 billion. BSX November 15 calls have traded 46 times on transaction volume of 3,798 contracts. BSX over all option implied volatility 40 is near its 26-week average according to Track Data, suggesting non-directional risk.

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

BEA Systems (NASDAQ: BEAS), received a proposal on 10/12/07 from Oracle (NASDAQ: ORCL) to be acquired for $17 a share in cash. ORCL announced on 10/23 "ORCL has no interest in a long, drawn-out process to acquire BEAS. If the BEAS board refuses to execute an acquisition agreement and refuses to let their shareholders vote, then our $17 per share proposal to acquire BEAS will expire at 5 p.m. on Sunday, October 28, 2007." BEAS overall option implied volatility of 23 is below its 26-week average of 39 according to Track Data, suggesting decreasing risk.

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

CSX(NYSE:CSX) is a transportation company operating in two segments: rail & intermodal. CSX is recently trading at $43.50 in pre-open trading above its close of $42.42. Children's Investment Master Fund, a shareholder of 4.1% of CSX, is urging CSX Board of Directors to act immediately & voluntarily to improve CSX corporate governance and business performance. CSX is expected to report EPS on 10/17. Unconfirmed chatter has recently circulated CSX may break itself up. CSX has a market cap of $18.7 billion and long term debt of $5.7 billion. CSX November option implied volatility of 42 is above its 26-week average of 36 according to Track Data, suggesting larger price risks.

Saks(NYSE:SKS) is recently trading at $19.88 in pre-open trading, above its close of $18.72 after The Independent said "rumors re-emerged that Icelandic Investment group Baugur was set to bid for SKS, with an offer worth between $26 and $30 a share imminent." SKS is expected to report EPS on 11/20. SKS overall option implied volatility is at 59 according Track Data.

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Eastman Kodak (NYSE: EK) is recently up $1.30 to $28.34 after the Financial Times reported Hewlett Packard (NYSE: HPQ) may take another look at EK as an acquisition target. EK has been frequently mentioned as a takeover target over the last four years. EK is expected to report EPS on 11/1. EK call option volume of 22,749 contracts compares to put volume of 11,136 contracts. EK October 30 straddle is at $2.15. EK November call option implied volatility is at 43, puts are at 49, above its 26-week average of 35 according to Track Data, suggesting larger risk.

Dow Chemical (NYSE: DOW), a diversified chemical company, is recently up $0.67 to $45.46 on unconfirmed reports DOW canceled an analyst meeting, renewing buyout chatter. DOW is expected to report EPS on 10/25. DOW call option volume of 16,275 contracts compares to put volume of 3,026 contracts. DOW November option implied volatility of 28 is above its 26-week average of 25 according to Track Data, suggesting larger price risk.

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Intercontinental Exchange(NYSE:ICE) closed at $157.76. ICE has been frequently mentioned as a potential consolidation candidate over the last 16-months. On 10/2/07 ICE reported September 2007 contract volume rose 33.7% compared to September 2006. ICE is expected to report EPS in October. ICE over all option implied volatility of 44 is below its 26-week average of 48 according to Track Data, suggesting decreasing price movement.

SAP AG(NYSE:SAP), a German software company, announced its $6.8 billion takeover of Business Objects(NYSE:BOBJ), a global provider of business intelligence software solutions BOBJ. Cowen says: "1) What other dilutive deals the company is considering further reducing ROIC? 2) Why SAP paid so much (relatively) for a company that announced 3Q earnings shortfall the same day it got bought, and 3) can the company integrate such a large acquisitions?"

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Wendy's(NYSE:WEN) volatility Elevated into expected strategic review announcement. WEN is recently up .92 to $32.59. WEN announced on 6/18/07 that a Special Committee of its Board of Directors reviewing WEN strategic options, decided to explore a possible sale of the company. WEN October implied volatility of 38 is above its 26-week average of 32 according to Track Data, suggesting larger risk.

Guitar Center(NASDAQ:GTRC) volatility High considering Bain paying $63 Cash. GTRC is recently down $.42 to $57.85. GTRC announced on 6/27/97 it would be acquired by Bain Capital for $63; the total transaction value is $2.1 billion. The transaction in expected to close before year end. GTRC October & November option implied volatility of 31 is above its 11-week average of 22 according to Track Data, suggesting the buyout could be in jeopardy resulting in downside price risk.

Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.