Deals of the Day: Yammer Agrees to Sell Itself to Microsoft

By WSJ Staff

Deals of the Day compiles this morning?s biggest news about mergers and acquisitions, banking, bankruptcy and more. Catch us on Twitter,?@WSJDealJournal.

Europe

Europe on edge: The U.K. unveiled measures designed to insulate the British financial system and economy from the euro zone?s deepening crisis. [WSJ]

Related: In a district that has picked the eventual prime minister in every Greek election for nearly 40 years, the surly mood of voters foretells a close contest in Sunday?s crucial vote. [WSJ]

Mergers & Acquisitions

Yammer-Microsoft: Yammer?often called the Facebook for the workplace?has agreed to sell itself to Microsoft for $1.2 billion. [WSJ]

Amys: LVMH said it acquired Arnys, a made-to-measure men?s clothing company, adding to its investment in the booming men?s apparel segment. [WSJ]

Facebook IPO

Nasdaq?s dilemma: Despite the acknowledged glitches associated with the Facebook IPO, firms considering legal action against the exchange operator face an uphill battle. [WSJ]

Financial Institutions

Bears Gang Up on Banks: Investors piled into bearish bets on banks in the second half of May, in the biggest surge of activity since the depths of the financial crisis, as uncertainty in Europe and J.P. Morgan Chase?s troubles fueled pessimism. [WSJ]

Bankruptcy & Restructuring

MF Global: The trustee unwinding the brokerage of MF Global Holdings struck a deal with CME Group that will see the futures-exchange operator turn over about $130 million in property that will go to former customers of the collapsed firm. [WSJ]

Legal & Regulatory

R. Allen Stanford, the international financier from Texas convicted of masterminding a $7 billion Ponzi scheme, was sentenced to 110 years in federal prison. [WSJ]

Companies & Industries

Sirius: Mel Karmazin, CEO of Sirius XM Radio, is preoccupied with the company?s valuation?especially now that he sees Liberty Media trying to wrest control without paying for it. [WSJ]

AOL won a proxy fight with activist investor Starboard Value, relieving some of the scrutiny of CEO Tim Armstrong?s investments in online content businesses. [WSJ]

RIM: Research In Motion plans to nominate as a director Timothy Dattels, a senior partner at TPG Capital. [WSJ]

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