Dell Inc. trimmed CEO Michael Dell's pay by 14 percent to $13.9 million last year amid a slump that culminated in a proposed $24.4 billion deal that could end the personal computer maker's 25-year history as a publicly traded company.
Germany-based Siemens AG has announced its acquisition of the Preactor Group, which is headquartered in Chippenham in the UK, in order to expand its footing in the industrial software market. Preactor has been developing software solutions for more than 20 years. Once the deal is finalized, the company will be assigned to the Siemens Industry Automation Division. Details on the purchase were not disclosed.
Owens Corning has completed its buyout of Thermafiber Inc., a maker of mineral wool commercial and industrial insulation products. Owens Corning purchased Thermafiber from private equity firm Altus Capital Partners Inc. for an undisclosed amount.
Royalty is a privately held New York company that buys royalty interests in drugs and late-stage drug candidates. It made a new offer to buy Elan last month on the condition that shareholders vote against Elan's push to refocus its business with some recently announced acquisitions.
Privately held Wuhan manufactures and markets DaQiao and ChuShiLe brand bouillon products, which McCormick said Friday will complement its current lineup of spices, seasoning blends and sauces for the Chinese market. McCormick funded deal with a combination of cash and debt.
A group led by South Korean steelmaker POSCO and China Steel Corp. had entered into a joint venture that owns ArcelorMittal iron ore mining and infrastructure assets in Quebec. The deal was originally announced in January. ArcelorMittal, which is based in Luxembourg, still owns 85 percent of the joint venture.
The board unanimously recommended the offer from Michael Dell to take the company private for $24.4 billion, or $13.65 per share, according to filings with the Securities and Exchange Commission on Friday. The offer has been criticized by some prominent shareholders.
The $4.7 billion bid for Smithfield Foods by Wan Long, chairman of Shuanghui International, is another big step up for Chinese entrepreneurs who are emerging from the shadow of state-owned corporate giants and expanding on the global stage.
A federal judge has approved a settlement in which United Technologies Corp. will sell some of its assets as part of its $18.4 billion purchase of aerospace-parts maker Goodrich Corp., the largest merger in aircraft industry history.
The German drug company Bayer AG has received antitrust clearance from the Federal Trade Commission for its approximately $1.1 billion acquisition of Conceptus. Bayer announced the deal last month, saying that it would help to expand the kinds of birth control it offers.
Chinese meat processor Shuanghui International Holdings Ltd. has agreed to take Smithfield Foods private for approximately $4.72 billion. Shareholders of Smithfield, the world's biggest pork producer, will receive $34 per share. This is a 31 percent premium to the Smithfield, Va., company's closing stock price of $25.97 on Tuesday.
Valeant said the cash deal will help it capitalize on increasing demand for contact lenses and other products because of aging populations, growing demand in emerging markets and increasing rates of diabetes. Complications of the complex blood sugar disorder can damage the eyes over time.
Tempur-Pedic International Inc. said Thursday that shareholders have approved changing the company's name to Tempur Sealy International Inc. The decision, made at the company's annual meeting, reflects its recent acquisition of fellow mattress maker Sealy Corp. Tempur-Pedic completed the $228.6 million acquisition of Sealy on March 18.
The company, which also makes Prego pasta sauces and Pepperidge Farm cookies, had been struggling to grow sales of its canned soups in recent years as people increasingly look for foods with a fresher feel. To diversity its stable of products, Campbell also recently purchased Bolthouse Farms.
Signing a business or partnership agreement is usually a time for celebration. The alliance has been thoroughly discussed, you understand the value each party contributes, and you’re excited to have a new partner for your manufacturing company. But in the process of creating an exciting new venture, entrepreneurs often fail to examine the specifics of the agreement. The details in a business agreement don’t seem important, until they are.
Royalty Pharma is raising its offer to buy Elan on the condition that shareholders reject the Irish drugmaker's push to refocus its business through a string of recently announced deals. Royalty says it will pay $12.50 in cash for each share of Elan Corp. PLC. That adds up to a total value of about $7.5 billion.
Actavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion which would create the third-biggest specialty pharmaceutical company in the U.S. The new company is expected to be called Actavis PLC and will be incorporated in Ireland, where Warner Chilcott is currently incorporated.
The Greenville, S.C.-based Sage Automotive Interiors has announced its acquisition of the automotive fabric manufacturing assets of Poland-based Apo-Tessile. Sage says it hopes to better provide new automotive interior products to the European market, and the current facility in Zary, Poland, is positioned to supply cut and sew facilities in central and eastern Europe. The operations will be called Sage Automotive Interiors Poland.
APEM, Inc., has announced that APEM Components, Inc., and CH Products have merged, effective April 1, 2013. The company says that with the merger in place, the companies will be able to combine APEM’s well-known switches and LED indicators with the respected industrial joysticks and Hall effect control devices made by CH Products.
Hellwig said Thursday that such an acquisition, which it had considered in the past, doesn't make commercial sense since AB InBev is doing well registering its Budweiser brand in new countries despite the dispute. Budvar has been fighting for over a century with Anheuser-Busch over use of the Budweiser brand, to which both companies claim a right.
Struggling personal computer maker Dell is going to report its latest quarterly earnings ahead of schedule in a move likely to spur speculation that the results will be dismal. The schedule change announced Tuesday means Dell Inc. will release its fiscal first-quarter earnings after the market close this Thursday.
Icahn and prominent Dell shareholder Southeastern Asset Management said last week they want to keep Dell Inc. publicly traded and give shareholders $12 in cash or more shares. But a Dell board special committee said in a Monday letter that the proposal comes with many unanswered questions.
AmerisourceBergen has sold its pharmaceutical packaging business, AndersonBrecon, to an investment group led by health care investor Frazier Healthcare. AmerisourceBergen Corp., a prescription drug distributor, said last month that it had agreed to sell the unit.
Cereal maker Post Holdings Inc. is buying the branded and private label cereal, granola and snacks business of Hearthside Food Solutions for $158 million, partly as a way to broaden its presence in the cereals category. Post's existing cereal brands include Honey Bunches of Oats, Post Raisin Bran and Grape-Nuts.
Elmira, N.Y.-based Hardinge Inc. has announced that it will acquire Forkardt from Illinois Tool Works in a $34 million transaction of cash and debt that is expected to be completed today. Hardinge officials say Forkardt’s brands include leading providers of high-precision, specialty and customized workholding devices for machine tools.