Benzinga'a M&A Chatter for Monday August 13, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday August 13, 2012: Google Buys Frommer's The Deal:
Google GOOG is acquiring the Frommer's travel guide business from John Wiley & Sons JW JW for an amount believed tio be less than $66 million, according to sources. Shares of Expedia EXPE and TripAdvisor TRIP fell on the news, while Google shares surged. Google closed at $660.01 Monday, a gain of 2.81% on higher than average volume. Focus Media Receives Going Private Proposal of $27/Share The Offer:
Focus Media Holding Limited FMCN announced Monday that its Board of Directors has received a preliminary non-binding proposal letter, dated August 12, 2012, from affiliates of FountainVest Partners, The Carlyle Group, CITIC Capital Partners, CDH Investments and China Everbright Limited and Mr. Jason Nanchun Jiang, Chairman of the Board and Chief Executive Officer of Focus Media, and his affiliates, that proposes a "going-private" transaction for $27.00 in cash per American depositary share, or $5.40 in cash per ordinary share. Focus Media Holding closed at $25.45 Monday, a gain of 8.85% on 6.5 times average volume. LJ International Gets Going Private Proposal from Chairman of $2/Share The Offer:
LJ International JADE announced Monday that its Board of Directors has received a preliminary, non-binding proposal letter dated August 13, 2012 from Mr. Yu Chuan Yih, Chairman of the Board of Directors, President and Chief Executive Officer of the Company, and Urban Prosperity Holding Limited, an affiliate of FountainVest Partners, ("FountainVest", together with Mr. Yih, the "Consortium Members"), to acquire all of the outstanding ordinary shares of the Company not currently owned by Mr. Yih at a proposed price of $2.00 per ordinary share, in cash, subject to certain conditions. Mr. Yih currently beneficially owns, in the aggregate, approximately 11% of the Company's outstanding ordinary shares. LJ International closed at $1.83 Monday, a gain of 13.66% on twice the average volume. Tokyo Electron Will Acquire FSI International for $6.20 per Share The Deal:
Tokyo Electron Limited and FSI International FSII announced Monday that they have entered into a definitive agreement under which TEL will acquire FSI for $6.20 per share in cash, or an aggregate equity purchase price of approximately $252.5 million. The purchase price represents a premium of 53.5% to the closing price of FSI's common shares on August 10, 2012. The acquisition, which will be completed pursuant to a cash tender offer followed by a second step merger, has been unanimously approved by the boards of directors of TEL and FSI. The board of directors of FSI unanimously recommends that FSI's shareholders tender their shares into the tender offer. The transaction is expected to close in calendar year 2012. FSI International closed at $8.85 Monday, a gain of 52.48% on 43 times average volume. Verint to Buy Comverse Technology for $25M and 27.5M Shares The Deal:
Comverse Technology CMVT announced Monday that it has signed a definitive merger agreement with its majority-owned subsidiary Verint Systems VRNT. Under the terms of the agreement, following the completion of CTI's previously announced distribution to its shareholders of substantially all of its assets, including its wholly-owned subsidiary Comverse, Inc. ("CNS"), other than its holdings in Verint, Verint will acquire the CTI holding company, eliminating the current holding company structure. As of August 10, 2012, CTI currently holds approximately 41.0% of Verint's basic outstanding common shares and 100% of Verint's outstanding convertible preferred shares which, if converted, would result in CTI holding approximately 53.7% of Verint's basic outstanding common shares. Comverse Technology closed at $5.79 Monday, a gain of 1.58% on 2.5 times average volme. Tesoro Will Buy BP's Integrated Southern California Refining and Marketing Business for $1.75B The Deal:
Tesoro Corporation TSO announced today that its Board of Directors has approved agreements for the Company to purchase BP's BP integrated Southern California refining and marketing business. The purchase price of BP's assets is $1,175 million, plus the value of inventory at the time of closing. At current prices, the inventory is valued at approximately $1,300 million. The transaction is subject to regulatory approval and is expected to close before mid-2013. The purchase price is expected to be financed initially through a combination of cash and debt with proceeds from the subsequent sale of the associated logistics assets to Tesoro Logistics LP TLLP generating an estimated $1 billion of cash proceeds in the first year. Earnings per share accretion is expected to be about 24% in each of the first and second year of operations. Tesoro Corporation closed at $38.87, a gain of 9.49% on almost 4 times average volume.