ABN Amro Holding (ABN) Is to merge with Barclays PLC. ABN Amro shareholders are to get 3.225 ordinary Barclays shares for each ABN Amro ordinary share. Barclays shareholders will own 52% of the new company and ABN's 48%.
Bank of America (BAC) Is to buy ABN Amro North America Holding Co., the parent of LaSalle Bank Corp. from ABN Amro Holding for $21 billion in cash. After a return of $5 billion in excess capital, the net cost would be $16 billion.
AstraZeneca (AZN) says it entered into a definitive agreement to acquire Medimmune (MEDI) for $58 per share cash, or total consideration of about $15.6 billion (including about $340 million net cash).
Merck (MRK) A Texas court dismisses the claim of a Vioxx user who said Merck failed to properly warn of alleged risks; the judge notes that the Vioxx label contained an FDA-approved warning. Merck says the ruling could apply to other Texas cases.
L-3 Communications (LLL) Posts $1.29 vs. $1.13 first quarter EPS on a 14% sales rise. Sees $5.65 to $5.75 2007 EPS on sales of $13.2 billion to $13.3 billion. Separately, says it acquired Geneva Aerospace Inc., and agreed to acquire Global Communications Solutions Inc.
Interpool (IPX) Agrees to be acquired by certain private equity funds managed by affiliates of Fortress Investment Group LLC in a deal valued at $2.4 billion, including assumed debt, or $27.10 per share cash.
Pre-Paid Legal Services (PPD) Posts $1.08 vs. $0.84 first quarter EPS on a 1.9% revenue rise.