SAP AG (NYSE: SAP) has agreed to acquire SuccessFactors (NYSE: SFSF), a provider of cloud-based human capital management solutions. The deal is valued at approximately $3.4 billion, or $40 per share in cash (52% premium to Friday’s closing price). www.sap.com
Bank of America Corp. and Barclays have agreed to sell a 26.5% stake in apartment owner Archstoneto Equity Residential (NYSE: EQR) for nearly $1.33 billion. www.equityapartments.com
Commercial Metals Co. (NYSE: CMC) has rejected a $15 per share, or $1.7 billion, takeover offer fromCarl Icahn. www.cmc.com
Michael Kors Holdings, a Hong Kong-based apparel maker, has set its IPO terms to 41.7 million ordinary shares being offered at between $17 and $19 per share. It plans to trade on the NYSE under ticker symbolKORS, with J.P. Morgan, Morgan Stanley and Goldman Sachs serving as co-lead underwriters. The company reports $520 million in revenue for the six months ending October 1.