Aetna (NYSE: AET) has agreed to acquire Coventry Health Care Inc. (NYSE: CVH) for approximately $7.3 billion (including the assumption of $1.6b in Coventry debt). The cash and stock deal valued Coventry shares at $42.08 a piece, which represents around a 20% premium over Friday’s closing price.
National Indemnity Co., a unit of Berkshire Hathaway, has agreed to acquire the U.S. subsidiary of Israel’s Clal Insurance Enterprise Holdings for $221 million.
Orkla ASA (Oslo: ORK) has agreed to acquire the Rieber family’s stake in Norway-based grocery products company Rieber & Søn ASA (Oslo: RIE) at an enterprise value of approximately NOK6.1 billion (US$1b). www.rieberson.no
Braintree Inc., a Chicago–based provider of Braintree Inc., a provider of payment-processing technology for online brands, has acquired New York-based social payment app Venmo Inc. for a reported $26.2 million. Braintree has raised VC funding from Accel Partners, while Venmo backers included Accel, Betaworks, Founder Collective, Greycroft Partners, Lerer Ventures and RRE Ventures.
Dubai International Capital has lost control of British budget hotel chain Travelodge, following a £635 million debt restructuring that results in mezzanine lenders GoldenTree Asset Management and Avenue Capital Group taking over. www.travelodge.co.uk
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