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.
BMC 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.
Medical 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.
Some 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.
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.