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Samsonite Buys Luxury Bag Maker Hartmann For $35M

August 3, 2012 9:46 am | News | Comments

Samsonite said the purchase of the 135-year-old will help it expand in the luxury luggage and leather goods markets.

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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

China's Wanda Buys Luxury Yacht Maker Sunseeker

June 19, 2013 7:45 am | by Christopher Bodeen, Associated Press | News | Comments

Chinese property and cinema conglomerate Dalian Wanda Group said Wednesday it is buying British yacht maker Sunseeker and will develop a high-end London hotel, expanding into the luxury market as part of the latest foray abroad by a major Chinese firm.

Techne To Buy Bionostics For $104M

June 18, 2013 1:32 pm | News | Comments

Bionostics develops, manufactures and distributes products that verify the proper operation of in vitro diagnostic devices mainly used in blood glucose and blood gas testing. The company has supply relationships with the vast majority of in vitro diagnostic device manufacturers, Techne said.

J&J To Buy Aragon For At Least $650M

June 17, 2013 2:08 pm | News | Comments

Johnson & Johnson said Monday that it has agreed to buy Aragon Pharmaceuticals Inc. for at least $650 million in cash, boosting its position in prostate drug development. The privately-held San Diego, company is focused on the development of drugs to treat hormonally-driven cancers.

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Elan Shareholders Vote Down 3 Deals

June 17, 2013 8:16 am | News | Comments

Shareholders of Irish drugmaker Elan Corp. PLC have potentially ended a takeover bid from Royalty Pharma by voting in favor of an Elan share buyback plan. The Dublin-based company's shareholders also rejected at a Monday meeting three separate deals that the Elan board has pushed instead of the Royalty takeover bid.

Starboard: Smithfield Sale Undervalues Company

June 17, 2013 8:03 am | News | Comments

One of Smithfield Foods' largest shareholders says a $4.72 billion takeover bid from China's largest meat producer falls short of what the company would be worth if sold off piece by piece. New York-based investment firm Starboard Value LP estimated the pork producer's value at $9 billion to $10.8 billion.

Cooper CEO: Buyer Committed To U.S. Operations

June 12, 2013 1:55 pm | by John Seewer, Associated Press | News | Comments

The head of Ohio's Cooper Tire & Rubber Co. says a $2.2 billion deal that puts the company under new ownership won't result in the closings of its three U.S. manufacturing plants. Cooper chief executive Roy Armes says India's Apollo Tyres Ltd. also plans to retain Cooper's management operation in Ohio.

Dole CEO Makes Buyout Bid

June 11, 2013 10:22 am | News | Comments

Dole Food's Chairman and CEO David Murdock and his family are offering to buy the business with a bid that values the entire company at approximately $1.07 billion. Shares of the fresh fruit and vegetable company jumped in premarket trading on Tuesday.

AstraZeneca In $560M Deal For Respiratory Firm

June 10, 2013 11:08 am | News | Comments

British drugmaker AstraZeneca PLC says it is to acquire Pearl Therapeutics Inc., a Redwood-City, California-based company involved in therapies for asthma and chronic obstructive pulmonary disease for at least $560 million.       

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PepsiCo Shoots Down Report Of SodaStream Talks

June 7, 2013 2:08 pm | News | Comments

PepsiCo is shooting down a report that the company is in talks to buy SodaStream, an Israeli company that makes at-home carbonation machines. PepsiCo Inc. spokesman Jeff Dahncke said the report in an Israeli newspaper is "completely and totally untrue."

Royalty Pharma Raises Offer For Elan

June 7, 2013 1:58 pm | by Tom Murphy, AP Business Writer | News | Comments

Shares of Elan Corp. PLC jumped Friday after Royalty Pharma once again raised its offer to buy the Irish drugmaker in an increasingly bitter takeover fight. Royalty said it will now pay $13 in cash for each Elan share, and it will give stockholders the right to receive up to an additional $2.50 per share in milestone-based payments.

3G Shuffles CEOs On Completion Of Heinz Deal

June 7, 2013 1:53 pm | News | Comments

Ketchup maker H.J. Heinz Co. began a new chapter on Friday. The company, which also makes baked beans, vinegar and Classico pasta sauce, said that it completed its acquisition by Warren Buffett's Berkshire Hathaway and 3G Capital, the Brazilian investment firm that also owns Burger King.

Icahn And Southeastern Push Against Dell Buyout

June 7, 2013 7:56 am | News | Comments

Activist investor Carl Icahn and Southeastern Asset Management Inc. are formally urging Dell shareholders to reject a buyout offer from the struggling PC maker's founder and investment firm Silver Lake Partners. Dell Inc. has agreed to sell itself to founder and CEO Michael Dell and Silver Lake for $24.4 billion, or $13.65 per share.

Anheuser-Busch Completes $20.1B Grupo Modelo Deal

June 5, 2013 1:39 pm | News | Comments

The world's largest brewer has been trying for almost a year to buy the half of Modelo that it did not already own. The Department of Justice initially blocked the deal, concerned that it would hurt U.S. beer shoppers' choices, but signed off on the combination after AB InBev agreed to sell Modelo's entire U.S. business to a wine maker, Constellation Brands Inc.

Dell: Investors Offer Short By $3.9B

June 5, 2013 1:28 pm | News | Comments

Dell says a buyout offer from shareholder Southeastern and billionaire investor Carl Icahn is about $3.9 billion short of the amount needed to pay shareholders as promised and operate the business.A special Dell board committee still favors a buyout offer from the struggling PC maker's CEO and founder, Michael Dell, and investment firm Silver Lake Partners.

SAP To Acquire hybris For Better Customer Experience

June 5, 2013 10:19 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Walldorf, Germany-based SAP AG today announced its acquisition of hybris, a provider of e-commerce technology. SAP says the acquisition will allow them to deliver more e-commerce platforms, with the choice of on-premise or cloud deployments, to enterprises around the world.

Ex-Porsche CFO Guilty Of Fraud In VW Bid

June 4, 2013 7:58 am | News | Comments

Porsche's ex-finance chief has been convicted of fraud after a court found he provided false information during the German sports car marker's failed 2009 attempt to take over Volkswagen AG. Former Porsche CFO Holger Haerter was fined an unspecified amount after being found guilty Tuesday by a Stuttgart state court, the dpa news agency reported.

Dell Trims CEO's Pay Amid PC Slump

June 4, 2013 7:47 am | News | Comments

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.    

Siemens Acquires UK-Based Preactor

June 3, 2013 12:41 pm | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

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 Closes On Thermafiber Acquisition

June 3, 2013 9:06 am | News | Comments

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.   

Elan: Royalty Pharma Bid Falls Short

June 3, 2013 8:05 am | News | Comments

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.

McCormick Buys Chinese Bouillon Maker For $147M

May 31, 2013 8:57 am | News | Comments

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.

ArcelorMittal Sells Stake In Canada Unit For $1.1B

May 31, 2013 8:04 am | News | Comments

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.

Dell Board Recommends Michael Dell Buyout Offer

May 31, 2013 8:01 am | News | Comments

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.

China's Entrepreneurs Expand Global Presence

May 31, 2013 2:42 am | by Joe McDonald, AP Business Writer | News | Comments

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.   

United Technologies Merger Settlement Approved

May 29, 2013 4:49 pm | by Frederic J. Frommer, Associated Press | News | Comments

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.     

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