Camarillo, Calif-based Power-One, Inc. has been acquired by ABB in an all-cash transition valued at approximately $1 billion. The transaction has already received the required antitrust approvals, which means the companies are hoping to complete the transaction by the end of this week. Today, the terms of the acquisition means Power-One will be purchased for $6.35 per share of Power-One common stock.
HanesBrands is buying underwear maker Maidenform Brands Inc. for approximately $547.6 million. The deal would add brands like Maidenform, Flexees and Self Expressions to the Hanesbrand roster that includes Playtex, Bali, Champion, Wonderbra and its namesake Hanes.
The move came just hours before Dell's shareholders were scheduled to vote on the previous offer from Michael Dell and the investment firm Silver Lake Partners. The Round Rock, Texas, company said it was delaying its shareholder meeting for a second time, moving it to Aug. 2 to give its board time to consider the offer.
Cisco said Tuesday that it reached a deal to buy computer network security company Sourcefire for about $2.37 billion in cash. Under the terms of the agreement, Cisco will pay $76 cash for each of the Columbia, Md.-based company's shares. The price represents a 29 percent premium over Sourcefire's Monday closing stock price.
Adobe Systems Inc. said Tuesday that it has closed on a $600 million purchase of Neolane, a French company that provides technology for marketing campaigns. Adobe, which makes Photoshop and other creative software and is shifting its business to a subscription model, said that Neolane would bolster its digital-marketing services.
Flowers Foods Inc. has completed its $355 million acquisition of several breads, bakeries and other assets from the company previously known as Hostess Brands. Flowers said Monday that the deal strengthens its position as the second-biggest baker in the U.S. because the breads and bakeries will expand its reach geographically into new markets.
The European Union's antitrust authority has cleared U.S. pharmaceutical company Baxter's proposed $2.76 billion takeover bid of Sweden's dialysis products firm Gambro. The European Commission said Monday the acquisition can go ahead on condition that Baxter divest its renal replacement therapy, which serves patients suffering from acute kidney failure.
The scrutiny of the pending sale comes amid a number of recent food-related scares in China, including reports of adulterated and mislabeled meats. A Shuanghui subsidiary was recently accused of treating hogs with an illegal veterinary drug that's hazardous for humans.
Google Inc. is investing in a Taiwanese microchip maker that makes chips used in its Google Glass, the eyeglass-enabled devices it is testing that can shoot photos and video and access the Internet.The deal with Tainan, Taiwan-based Himax Technologies Inc. gives Google a 6.3 percent stake in the Himax Display Inc. subsidiary in the form of preferred shares.
Auto parts supplier Gentex is buying Johnson Controls' HomeLink business for $700 million. HomeLink is a system that allows drivers to remotely activate garage door openers, entry door locks, home lighting, security systems, entry gates and other radio frequency convenience products.
Activist investor Nelson Peltz says he wants soda-and-snack food giant PepsiCo to buy Oreo cookie maker Mondelez and jettison its own underperforming beverage unit. Such a deal would create a global snack food powerhouse.
Spectrum Pharmaceuticals Inc. said Wednesday it will buy Talon Therapeutics Inc. for as much as $206 million, gaining Talon's leukemia drug Marqibo.Spectrum will pay $11.3 million upfront for Talon, and agreed to issue contingent value rights worth as much as $195 million.
Abbott Laboratories announced Monday it would pay a combined $560 million to acquire two privately-held companies focused on coronary implants and laser-assisted eye surgery.The acquisitions of Idev Technologies and OptiMedica Corp will help the health care company expand its medical device offerings.
Billionaire investor Carl Icahn is offering Dell shareholders a chance to own a bigger stake in the company in hopes of thwarting an attempt by Dell's founder to buy it and take it private. Icahn, who owns a nearly 9 percent stake in Dell, now wants to offer shareholders warrants in addition to cash.
Smartphone chip maker Spreadtrum Communications Inc. has agreed to be acquired by China's Tsinghua Holdings Co. for approximately $1.5 billion. Spreadtrum is also based in Shanghai. Tsinghua is a state-owned corporation funded by China's Tsinghua University.
Committee Chairwoman Debbie Stabenow said the proposed purchase of the Smithfield, Virginia-based company raises many questions, including the impact on food safety and security. She also said the precedent-setting transaction prompts reservations about the government review process of foreign acquisitions of U.S. companies.
Billionaire investor Carl Icahn says he will ask a Delaware judge to assess whether a proposed $24.4 billion acquisition of Dell represents a fair price for the struggling personal computer maker. It is Icahn's latest attempt to wrangle a higher offer from buyout group that includes company CEO Michael Dell.
U.S. lawmakers are set to weigh in on Smithfield Foods' pending takeover by China's largest meat producer. The Senate Agriculture Committee is set to discuss at a hearing Wednesday the deal struck in May with Shuanghui International. The committee notice says the hearing will examine the pending purchase of the Smithfield-based company.
Flowers Foods Inc., said late Monday that it has received regulatory approval to acquire the Wonder, Nature's Pride, Merita, Home Pride and Butternut bread brands; 20 bakeries; and 36 depots from Old HB, Inc., formerly known as Hostess Brands. In a release, Flowers said it expects to complete the transaction in the coming weeks.
Fremont, Calif.-based Exar Corporation (Nasdaq: EXAR) has announced today its acquisition of Cadeka Microcircuits, a designer and developer of precision analog integrated circuits. The transaction, which closed on July 5, amounted $29 million and was paid in a combination of cash and stock.
Italian automaker Fiat has exercised a third option to buy a small amount of Chrysler stock. But the sale won't go through until a price dispute is settled by a judge. Fiat says it offered $254.7 million on Monday for another 3.3 percent of Chrysler's outstanding equity.
Industrial products and equipment maker Illinois Tool Works Inc. said Wednesday that acquired a kitchen equipment maker that gives it access to China's cooking industry. Illinois Tool bought the company, Vesta, from the private equity firm Actis for an undisclosed sum.
Billionaire investor Carl Icahn says he has lined up the rest of the money that he needs to finance an attempt to scuttle a proposed $24.4 billion buyout of Dell Inc. that would turn over ownership of the slumping personal computer to CEO Michael Dell and an investment group led by Silver Lake Partners.
The famed piano maker Steinway is hoping that the sale of the company to private equity firm Kohlberg & Co. will strike the right chord. Steinway Musical Instruments, which has been in business for 160 years, said Monday that it has agreed to be bought by Kohlberg for about $438 million.
Federal regulators say an executive at Dow Chemical tipped a pal about the company's 2008 takeover of Rohm & Haas. The Securities and Exchange Commission filed a lawsuit Monday against then Dow Vice President Mack Murrell, his friend David Teekell, and a stockbroker.