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Nestle Takes Majority Stake in Dreyer's

Nestle SA says it will fold its U.S. ice-cream business into Dreyer's Grand Ice Cream (DRYR) in return for majority control of the company for around $2.5 billion. The deal calls for Dreyer's to issue 55 million new shares for Nestle's novelties and Haagen-Daz businesses, raising Nestle's stake to 67% from its current 23% holding in Dreyer's. In 2006, Dreyer's shareholders receive the right to sell shares to Nestle for $83 a piece. (6/17)

Electronic Data Systems (EDS) says it plans to acquire Loudcloud's (LDCL) Internet-hosting business for $63.5 million and license software from the company. (6/17)

Marshall & Ilsley (MI) agrees to acquire Mississippi Valley Bancshares (MVBI) for $26.25 cash, or 0.85 MI share per MVBI share. (6/17)

TriQuint Semiconductor (TQNT) acquires a portion of assets of IBM's (IBM) wireless phone chipset business. TQNT to make initial payment of about $22 million to IBM, with additional adjustments contingent upon business volumes. (6/17)

Prescription-drug wholesaler Cardinal Health (CAH) agrees to acquire Syncor International (SCOR), a leader in nuclear medicine, for a total of $1.07 billion, including assumption of $202 million in Syncor debt Syncor shareholders will get 0.52 Cardinal shares for each of share. (6/14)

Citizens Financial Group says it will buy Medford Bancorp (MDBK) for $35 per share in cash. (6/13)

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