Sterling Heights, Mich.-based KUKA Systems Group, has finalized its acquisition of the plant engineering business of privately-owned Utica Companies, which is headquartered in Shelby Township, Mich. As the transaction was completed, KUKA Systems became the No. 1 manufacturing systems supplier in the North American automotive sector.
KSD is headquartered in Oslo, Norway, and currently has more than 1,300 customers throughout the EU, with a focus on Norway and other Scandinavian countries. The company also holds offices in Sweden, Denmark, and The Netherlands. Descartes says the all-cash purchase was NOK 190 million ($33 million USD).
The Baltimore, Md.-based mobility solutions provider Barcoding, Inc., has today announced that it has completed the acquisition of Miles Technologies, Inc., based in Lake Zurich, Ill., to increase its presence in the central U.S. and expand its RFID offerings.
Germany drug company Bayer AG says it has agreed to buy California-based Conceptus for around $1.1 billion to expand the kinds of birth control it offers. Bayer said Monday it would launch a public offer to pay $31.00 per share for all the stock in Conceptus, Inc., which is based in Mountain View.
Infor, a leading provider of business application software serving more than 70,000 customers, today announced it has entered into a non-binding letter of intent to acquire TDCI Inc. Based in Columbus, Ohio, TDCI is a leading provider of configurator and guided selling solutions for manufacturers and distributors of customizable products and services.
Minneapolis-based Honeywell, which makes products ranging from aircraft systems to automotive parts and chemicals, said the acquisition will complement its existing business and expand its expertise and its geographic footprint, particularly in high-growth countries like China.
Isuzu Motors Ltd. said it will sell the remaining 40 percent stake in its plant-operating affiliate in Poland to General Motors by the end of April. The U.S. automobile giant will raise its stake in Isuzu Motors Polska Sp. z.o.o. (ISPOL) to 100 percent from the current 60 percent it acquired from the Japanese truck maker in 2002.
The board of Irish drugmaker Elan has unanimously rejected a takeover bid from Royalty Pharma, saying the U.S. investment company's offer of $11.25 a share is much too low. Royalty last week lowered its bid for Elan from an original $12 per share offer, pricing in the result of a $1 billion share buyback by Elan.
The Swiss power technology company ABB Ltd. is buying solar equipment maker Power-One Inc. for about $1 billion. The acquisition would ramp up ABB's capability to supply a key component used in solar systems. ABB will become an even larger supplier of solar inverters, which change the variable direct current output from solar panels into an alternating current.
In its half-yearly assessment of the intentions of big companies, accounting and consultancy firm Ernst & Young said the growing optimism has yet to be translated into more investment or corporate deal-making. The survey was based on responses from 1,600 senior executives in 50 countries.
Anheuser-Busch InBev reached a final agreement with the Department of Justice, settling a dispute over its $20.1 billion acquisition of the Mexican brewer, Grupo Modelo. The world's largest brewer has been trying since June to buy the half of Grupo Modelo that it doesn't already own.
Dell says buyout specialist Blackstone Group is ending a bid to buy the slumping computer maker, less than a month after pitching a plan to trump an offer from the company's CEO and founder. A letter from Blackstone and others involved in the bid says a steep slump in PC shipments and Dell's eroding financial profile prompted them to end their bid.
The European Union's antitrust body has cleared a $2.7 billion takeover of a British rail technology company by German industrial conglomerate Siemens. The European Commission said Siemens AG's takeover of Invensys PLC's rail division does not violate antitrust rules since the merged entity will continue to face strong competitors.
A special committee of the Dell Inc. board says Carl Icahn has agreed to cap his stake in the personal computer maker while the panel considers competing takeover bids from the billionaire investor, a group led by CEO Michael Dell and buyout specialist Blackstone Group.
Royalty Pharma says Monday that it's raising its bid for Irish drugmaker Elan Corp. PLC to as much as $12 per share, or $7.2 billion. Royalty Pharma, a private company based in New York, offered in February to buy the company for $11 per share, or about $6.5 billion. Elan rejected that bid.
Kodak has agreed to sell some of its document imaging assets to Brother Industries Ltd. for about $210 million, its latest deal as it seeks to exit bankruptcy protection. Japan-based Brother also would assume the business' deferred service revenue liability, which totaled about $67 million as of Dec. 31, the companies said Monday.
Thermo Fisher Scientific will spend $13.6 billion to buy genetic testing equipment maker Life Technologies in a cash deal that will create a giant company serving research and specialty diagnostics. That price does not count $2.2 billion in debt that will be assumed as part of the deal.
The management of Dutch coffee maker D.E. Master Blenders 1753 NV says it has agreed to a 7.5 billion euro ($9.8 billion) buyout offer from a group led by private German investment company Joh. A. Benckiser GmbH. Master Blenders was spun off from Sara Lee in June.
Heinz is bringing in Burger King CEO Bernardo Hees as its next top executive, signaling what may be the first of many changes planned by the ketchup maker's new owners. The company had announced in February that it was being acquired and taken private by Warren Buffett's Berkshire Hathaway and 3G Capital.
Avago Technologies Ltd., which makes chips for iPhones and other mobile devices, said Thursday that it reached a deal to buy CyOptics Inc. for about $400 million in cash. CyOptics produces indium phosphide optical chip and component technologies for the data communications and telecommunications markets.
The following represent some major or interesting mergers and acquisition (M&A) activity during late March and early April, with news from Klein Tools buying its way into Brazil, Elgin Fastener Group purchasing a Las Vegas-based manufacturer of fasteners and more.
Hostess Brands Inc. won approval Tuesday to sell off the last of its major cake and bread brands, bringing the total proceeds from its liquidation to about $860 million. A U.S. Bankruptcy Court judge in New York approved the two deals, said Hostess spokeswoman Anita-Marie Laurie.
Marchionne has jointly managed the two companies since buying a 20 percent stake in 2009. Fiat has since built up its holding in the U.S. company to 58.5 percent. However, his ambitions to fully merge the two companies have been stalled by a dispute between Chrysler's minority shareholder, the autoworkers union pension health trust.
Mediaroom gives phone companies a way to provide cable-like TV services over phone lines. Ericsson says it's used in 11 million households. U-Verse accounts for about 4.5 million of those. It's also used by Deutsche Telekom of Germany and by Telus Communications of Canada.
The Justice Department had sued to block the combination on concerns it would stifle competition in the U.S. The companies later revised terms, giving more control of Corona maker Modelo's U.S. beer brands to a separate company, wine producer Constellation Brands.