Mergers and Acquisitions
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.
Royalty Pharma Raises Bid For Elan To Up To $7.2B
April 15, 2013 2:01 pm | News | CommentsRoyalty 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 Selling Document Imaging Assets For $210M
April 15, 2013 10:50 am | News | CommentsKodak 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 Buying Life Technologies For $13.6B
April 15, 2013 8:29 am | News | CommentsThermo 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.
DEMB Agrees To $9.8B Buyout
April 12, 2013 7:51 am | News | CommentsThe 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 Taps Burger King CEO As New Owners Take Over
April 11, 2013 2:06 pm | by Candice Choi, AP Food Industry Writer | News | CommentsHeinz 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 Tech Buying CyOptics For About $400M
April 11, 2013 12:13 pm | News | CommentsAvago 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.
Early April M&A: Fasteners And Big Brazilian Moves
April 11, 2013 9:30 am | News | CommentsThe 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.
Court Approves Sale Of Last Of Core Hostess Assets
April 10, 2013 8:14 am | News | CommentsHostess 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.
Fiat-Chrysler Merger Path To Clarify
April 9, 2013 2:34 pm | by Colleen Barry, AP Business Writer | News | CommentsMarchionne 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.
Ericsson To Buy Microsoft's TV Software Unit
April 8, 2013 11:12 am | News | CommentsMediaroom 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.
DOJ Closer To Settlement On AB InBev-Modelo Deal
April 8, 2013 10:24 am | News | CommentsThe 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.
GE To Buy Lufkin Industries For About $3B
April 8, 2013 8:08 am | News | CommentsCEO Jeff Immelt is in the process of transforming GE from a sprawling conglomerate to one that is more tightly focused on providing services and equipment to industrial customers. The company has shed divisions such as NBC Universal and is shrinking its banking operations.
Cisco Plans To Buy Ubiquisys For About $310M
April 3, 2013 2:20 pm | News | CommentsCisco plans to buy privately held Ubiquisys for about $310 million in cash in order to strengthen its mobility strategy more and enable more intelligent mobile internet networks for service providers. Cisco Systems Inc. supplies routers, switches, software and services to corporate customers and government agencies worldwide.
Sony, Olympus Merging Medical Businesses On April 16
April 3, 2013 2:17 pm | News | CommentsSony Corp. and Olympus Corp. said Wednesday they will merge their medical businesses on April 16, after it was postponed twice due to a delay in obtaining regulatory approval overseas. The two companies initially planned to set up the new medical equipment company, to be named Sony Olympus Medical Solutions Inc., by the end of last year.
Valeant Pharma Boosts Offer For Obagi To $418M
April 3, 2013 2:03 pm | News | CommentsObagi Medical Products Inc. said Wednesday that Canadian drugmaker Valeant Pharmaceuticals boosted its offer to buy the dermatology products maker, topping a bid made a day ago by a German rival. Obagi said it struck a deal with Valeant Pharmaceuticals International Inc. that calls for it to pay $24 per share, or a total of about $418.3 million, for the company.
Merz Pharma Makes $383.5 M Offer For Obagi
April 3, 2013 8:12 am | News | CommentsLate last month, Valeant struck a deal with Obagi to pay $19.75 per share, or a total of about $343.7 million, for the company. Merz said Tuesday that it had been in private talks with Obagi before that deal was announced and wasn't aware that it was considering signing a deal with another company so quickly.
M&A: Intelligrated Buys Datria; Curtiss-Wright Acquires Exlar
April 2, 2013 11:09 am | by Joel Hans, Managing Editor, Manfuacturing.net | News | CommentsHere's a breakdown of some of the recent M&A news: The North American-based automated material handling solutions provider has purchased Datria Systems, Inc., and Curtiss-Wright Corporation (NYSE:CW) has completed the acquisition of Exlar Corporation in a $85 million cash deal.
Dell Opens Window On Efforts To Sell Company
April 2, 2013 8:09 am | by Michael Liedtke, AP Business Writer | News | CommentsDell's financial advisers tried to persuade 71 potential bidders to make an offer for the troubled personal computer maker before two of them emerged to challenge a proposed $24.4 billion deal with the company's founder, according to documents filed Friday.
Glencore Extends Xstrata Merger Deadline To May
April 2, 2013 8:03 am | News | CommentsCommodities trader Glencore says its expected merger with mining company Xstrata PLC will take longer than planned to allow Chinese regulators to give approval. Glencore says the deadline for the merger was extended to May 2 and is "conditional" on Chinese regulatory approval and other court matters.
Dole Food Closes On $1.7B Itochu Deal
April 1, 2013 7:55 pm | News | CommentsDole Food has completed its approximately $1.7 billion sale of its worldwide packaged foods and Asia fresh produce businesses to Japanese trading company Itochu Corp. The sale was announced in September and approved by stockholders in December.
