Midweek M&A Madness

As the weather (slowly) warms up, plenty of M&A bankers are hoping the market for deals will as well. We’ve noticed a few more targets coming to market in recent weeks and have compiled a list of some of those we’ve come across. Our sources are various news reports and the Buyouts “Seeking Buyers” list.

The following companies (among many, many others) are either formally considering “strategic alternatives,” reported to be on the block, or rumored to be in sale talks.  I can’t be comprehensive, but I can try. For last week’s list, go here, and send any additions my way.

Madison Square Garden: The arena’s parent company, Cablevision, may spin off the unit as a result of shareholder pressure. Read more…

Exxon: The company may sell 800 Australian fuel outlets as part of a strategy shift away from fuel retailing, according to reports.

Patriot Capital: The BDC is exploring strategic alternatives because one of its credit facilities was terminated after its collateral declined in value.

IDM Pharma: The company continues to review strategic options for itself with JMP Securities as its advisor. The process will continue until the third quarter.

Cell Genesis: The company has retained Lazard to help it explore strategic alternatives.

Biosante Pharmaceuticals: The company has retained Deutsche Bank to help it explore strategic alternatives.

DHS Systems: The company (backed by Carlyle Group) is in its final round of bidding, Reuters reported.

Epix Pharmaceuticals. The company hired JPMorgan to help it explore strategic alternatives.

Inhibition Therapeutics: The company is exploring strategic alternatives regarding its two separate divisions, AlumFuel Power, Inc., and HPI Partners.

Ramco-Gershenson Properties Trust is exploring strategic alternatives.

Neurogen: The drug developer has retained MTS Health Partners to help it consider strategic alternatives. Read more…

Grey Wolf: The company continues to review strategic alternatives with the help of CIBC World Markets and Peters & Co. Ltd. From it’s Q1 results: “The Company has opened a data room and provided information to a number of interested parties and is in the process of seeking transaction proposals. The Committee is endeavouring to determine a specific course of action by the end of this month but the timing and outcome of the process will be dependent on market conditions and the proposals which the Company receives.”

Conseco Inc: The company hired Morgan Stanley to help it explore strategic alternatives a year ago.

TorreyPines Therapeutics: If the company is not able to complete a financing or strategic sale in the first half of this year, it will be unable to continue as a going concern and may be forced to file for bankruptcy or liquidate.

Dow Chemical: The chemical giant will sell its synthetic rubber unit. JP Morgan is the financial advisor.

RWE AG: The company plans to fully divest American Water Works Co. The company owns 60% of the company; the remaining stake was sold in an IPO in 2007.

UTI Asset Management Company: The Indian fund house is planning to sell a 26% stake by August, according to reports.

American Home Bank: The commercial bank company based in Chicago is seeking a buyer for its bankrupt unit; Bancorp has been named as a potential bidder.

Asyst Technologies: The bankrupt hardware and software systems maker is seeking a buyer.

Boston Yacht Haven: The company’s bankrupt parent is seeking a buyer for the unit.

Delaware Investments: Lincoln National, the investment management company’s parent, is seeking a buyer for the unit.

JMAR Technologies Inc: The laser measurement company is seeking a buyer for select assets.

Jolly Ranch Project: The oil and gas exploration company seeks to sell a 20% stake in the company.

NewPage Corp. Paper Mill: The company (backed by Cerberus) seeks to sell its Kimberly, Wisconsin, mill.

Direct Edge: The electronic stock trading platform expects to IPO in 12 to 18 months.

Biogen Idec: Activist Investor Carl Icahn has requested the company consider splitting itself in two.

SumTotal: The company, which is in the midst of a bidding war between Vista Equity and Accel-KKR, has stated that the offer from Vista is superior to that of Accel-KKR.

VMtv: The Virgin Media subsidiary has reportedly drawn a shortlist of suitors for the second round of bidding for the assets. The list includes Channel 4, Time Warner, and BSkyB.

Landwind: A Shanghai diagnostic equipment distributor is reportedly in talks with GS Capital and Bain Capital. Citi Venture Capital owns a 70% stake.

Triad Resources: The bankrupt oil and gas exploration company is seeking a buyer.

Valvoline: The automotive product distributor’s parent company, Ashland, is seeking a buyer for the unit.

And in the not for sale corner: Twitter.