Mergers and Acquisitions
Sage Automotive Interiors Acquires Apo-Tessile Seating Assets
May 16, 2013 3:51 pm | News | CommentsThe 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. Announces Merger With CH Products
May 16, 2013 12:33 pm | News | CommentsAPEM, 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.
AB InBev Abandons Plans To Acquire Budvar
May 16, 2013 8:00 am | News | CommentsHellwig 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.
Dell Raises Intrigue By Rescheduling 1Q Report
May 14, 2013 1:37 pm | News | CommentsStruggling 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.
Dell Committee Seeks More Info On Icahn Plan
May 13, 2013 12:19 pm | by Tom Murphy, AP Business Writer | News | CommentsIcahn 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 Sells Packaging Unit For $308M
May 13, 2013 10:52 am | News | CommentsAmerisourceBergen 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.
Post Buying Hearthside Food Business For $158M
May 10, 2013 8:37 am | News | CommentsCereal 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.
Hardinge Inc. To Acquire Forkardt Operations
May 9, 2013 10:54 am | News | CommentsElmira, 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.
BMC Software To Be Sold For $6.6B
May 6, 2013 1:57 pm | News | CommentsBMC Software Inc. has agreed to be sold to a private investor group for about $6.6 billion in cash. The Houston-based maker of system management software for businesses said Monday that the deal is for $46.25 per share. That's less than 2 percent above Friday's closing stock price of $45.42.
Nuvasive Buys Spine Implant Manufacturer ANC
May 6, 2013 11:12 am | News | CommentsMedical device maker NuVasive Inc. said Monday it acquired ANC LLC, one of the key suppliers of its spinal implants, for $4.5 million. NuVasive said the companies have worked together since May 2010. NuVasive wants to handle more of its own manufacturing so it can improve its profitability. It said the acquisition won't affect its net income in 2013.
Buffett Defends Structure Of $23B Heinz Deal
May 6, 2013 8:32 am | News | CommentsSome people had questioned whether the deal that will give Berkshire a 50 percent stake in Heinz represented a change in investment style for Buffett's conglomerate. Generally Berkshire buys entire companies outright and allows them to continue operating largely unchanged.
KUKA Systems Acquires Utica Companies’ Plant Engineering Arm
May 2, 2013 10:55 am | News | CommentsSterling 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.
Descartes Acquires Scandinavia-Based KSD Software
May 2, 2013 10:41 am | by Joel Hans, Managing Editor, Manufacturing.net | News | CommentsKSD 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).
Barcoding, Inc. Acquires Miles Technologies, Inc.
May 1, 2013 10:45 am | News | CommentsThe 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.
Bayer To Pay $1.1B For Conceptus
April 29, 2013 7:43 am | News | CommentsGermany 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 Announces Intent to Acquire TDCI, Inc.
April 23, 2013 3:07 pm | News | CommentsInfor, 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.
Honeywell To Acquire RAE Systems For $340M
April 23, 2013 12:13 pm | News | CommentsMinneapolis-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 Selling Stake In Poland Unit To GM
April 23, 2013 8:38 am | News | CommentsIsuzu 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.
Elan Rejects Royalty Pharma Takeover Bid
April 22, 2013 1:49 pm | News | CommentsThe 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.
ABB Plans Power-One Acquisition For About $1B
April 22, 2013 8:25 am | News | CommentsThe 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.
Survey: Firms Still Reluctant To Make Acquisitions
April 22, 2013 7:34 am | by Pan Pylas, Associated Press | News | CommentsIn 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.
Beer Makers, DOJ Reach Deal
April 19, 2013 12:03 pm | by Sarah Skidmore, AP Business Writer | News | CommentsAnheuser-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.
Blackstone Drops Out Of Race To Buy Dell
April 19, 2013 8:41 am | News | CommentsDell 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.
EU OKs $2.7B Siemens Takeover Of UK Rail Firm
April 18, 2013 1:48 pm | News | CommentsThe 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.
Dell, Icahn Agree On A Share Ownership Cap
April 16, 2013 11:03 am | News | CommentsA 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.
