Here'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'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.
Commodities 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 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.
D.E. Master Blenders 1753, the Dutch coffee company that was spun off by Sara Lee Corp. last June, says it is in talks to be acquired by a group led by private German investment company Joh. A. Benckiser GmbH for around €7.6 billion ($9.7 billion). Benckiser owns stakes in Peet's Coffee & Tea Inc. and Caribou Coffee, among others.
Private equity firm MidOcean Partners has offered to buy aerospace and industrial manufacturer EDAC Technologies Corp. for about $97 million, topping a bid from another private equity firm, Greenbriar. MidOcean said it made the bid with a partner, a North American pension plan investment manager that it didn't name.
The sale is the second of two divestitures required by U.S. regulators as a condition of United Technologies' $18.4 billion purchase of Goodrich, a manufacturer of airplane parts. United Technologies announced on March 18 the sale of a pump and engine control systems business owned previously by Goodrich.
Apple has bought WiFiSLAM, a startup that has been developing a way to use WiFi hotspots to help smartphones navigate large indoor spaces, like stores, airports and conference centers. The purchase is part of Apple's efforts to bolster its own mapping and location capabilities, after breaking up with Google Inc. last year.
Dell plans to negotiate with Blackstone Group and investor Carl Icahn over new acquisition bids for the computer maker that rival an offer of more than $24 billion from investors led by founder Michael Dell. A special committee of board members has determined the bids could be superior to a proposal from Dell and Silver Lake Partners.
The Purchase, N.Y., company, which dominates the salty snack market with Frito-Lay, issued a short statement Friday after the Telegraph of London said activist investor Nelson Peltz could push it to merge with Mondelez, which is known for sweets including Cadbury and Nabisco.
Oil company BP says it will buy back $8 billion in shares after completing a complex deal for TNK-BP. BP invested $8 billion in cash, shares and assets when it formed TNK-BP in 2003 and received a total of $19 billion in dividends over the next decade.
With the deadline looming, buyout specialist Blackstone Group is emerging as the most likely candidate to trump the current bid of $13.65 per share. Blackstone is so intrigued with the prospect of owning Dell that the firm has been courting former HP CEO Mark Hurd to run Dell if it decides to mount a hostile takeover attempt, according to a source.
Hostess Brands Inc. is selling Twinkies, along with Ding Dongs, Ho Hos and other cakes, to a pair of investment firms, Apollo Global Management and Metropoulos & Co., and the head of Metropoluos said he wants to have Twinkies back on shelves by June.
Cynosure is buying Palomar Medical Technologies Inc. in a cash-and-stock deal valued at about $294 million. Both Cynosure and Palomar's products include cosmetic laser and intense pulsed light systems. Both companies' boards unanimously approved the deal, which is expected to close in the third quarter.
Ericsson will take on the design, development and sales of the LTE multimode thin modem products, including 2G, 3G and 4G multimode, while ST will take on the existing ST-Ericsson products, other than LTE multimode thin modems, and related business as well as certain assembly and test facilities.
EDAC Technologies Corp. said Monday that its board has agreed to sell the aerospace and industrial company to an affiliate of private equity firm Greenbriar Equity Group LLC for about $93.2 million. Under the terms of the agreement, Greenbriar will pay $17.75 per share for the Farmington, Conn.-based company.
Beer maker Anheuser-Busch InBev says there has been substantial progress toward a resolution of the U.S. Justice Department's legal challenge to the company's $20.1 billion deal to buy Mexican brewer Grupo Modelo.The companies and the government have asked a federal court to extend a halt to legal activity in the case from March 19 to April 9.
Hostess is moving forward with the sale of Devil Dogs, Yankee Doodles and Yodels to the maker of Little Debbie cakes. The bankrupt company says it picked McKee Foods as the buyer for the Drake's cakes after nobody stepped forward with a qualifying bid to top its $27.5 million offer.
Apollo Global Management and Metropoulos & Co., which made a joint offer to snap up the famous cream-filled cakes, have also entered the contest to buy Drake's, which include Devil Dogs and Yodels, according to a source who requested anonymity because the sale process is private.
Dell has staunchly defended the proposed sale to Michael Dell and Silver Lake as the best deal for the company after evaluating a wide range of other alternatives during a "rigorous" review undertaken by a special committee of four directors that were designated last August after its CEO broached the possibility of a buyout.
The bankrupt company had earlier picked a joint $410 million offer from Metropoulos & Co. and Apollo Global Management as the lead bid for the cakes. Others were given a chance to make better offers and the CEO of Hostess had predicted the auction would be competitive.
The inquiry by the U.K. Serious Fraud Office is the latest legal fallout from a deal that has saddled Hewlett-Packard Co. with massive losses and depressed its stock price. The U.S. Justice Department started looking into the matter late last year, shortly after HP accused Autonomy employees of fabricating sales.
Atlanta-based Genuine Parts bought a 30 percent stake in Exego, an aftermarket distributor of automotive replacement parts and accessories, last year and had an option to buy the rest of the company. The deal price includes the assumption of certain debt, Genuine Parts said.
The industrial pump maker Gardner Denver Inc. has agreed to sell itself to Kohlberg Kravis Roberts & Co. for about $3.73 billion. Under the terms of the agreement, the New York-based investment firm will acquire the Wayne, Pa.-based for $76 per share.
Icahn says he favors paying a one-time dividend totaling $9 per share in a move that would allow shareholders to keep their stake in the company. He says that would be more valuable to shareholders than selling it as negotiated by a special committee of independent Dell directors to sell the company to an investment group for $13.65 per share.