Danfoss A/S, a Danish maker of valves and other machine parts, will buy the rest of U.S. company Sauer-Danfoss it doesn't already own for about $692 million after raising its offer. Danfoss owns 75.6 percent of Sauer-Danfoss Inc., which makes parts for tractors, backhoe loaders and other agricultural and construction equipment.
Hostess is choosing Mexico's Grupo Bimbo as the buyer for its Beefsteak bread brand. Hostess said a $31.9 million bid by the maker of Entenmann's cakes beat out another offer by Flowers Foods, which makes Tastykakes and Nature's Own bread. Beefsteak is a regional rye bread available in some states.
Mylan, currently the fourth-largest maker of generic drugs in the world, is buying Agila from Strides Arcolab. It could pay Strides another $250 million based on other undisclosed conditions. Mylan said the deal will give it new generic injectable drugs and will help it enter the market in emerging markets like Brazil.
Wonder bread is one step closer to getting a new owner. A person familiar with the situation who requested anonymity because the auction process is private says there will be no competing offers Thursday to a bid by Flowers Foods to buy several bread brands from Hostess.
The CEO of the O'Gara Group Inc. and BAE Systems PLC said Monday that the O'Gara group completed the purchase of the West Chester-based BAE division. The business in the Cincinnati suburb will be renamed O'Gara-Hess & Eisenhardt Armoring Co. CEO Bill O'Gara says about 83 BAE employees were retained and about 20 will be added.
Royalty Pharma says that it wants to buy Elan Corp. PLC for about $6.5 billion, but has yet to receive a response from the Irish drug maker. The $11 per share offer, which was made earlier this month and applies to both Elan's regular and American depository shares, represents a 4 percent premium over its Friday closing ADS price.
Key Technology, Inc. and Visys NV, a leading provider of chute-fed in-air sorters used by food processors and waste recyclers, have entered into a merger agreement. The combination of Key Technology and Visys creates the single most complete source of high-performance, digital sorting technologies available for food processing and other industrial markets.
Overall, confidence in the equipment finance market is up for the third consecutive month at 58.7, an increase from the January index of 54.2, reflecting industry participants’ increasing optimism despite a wary eye on economic conditions and government management of fiscal policies.
The U.S. Department of Justice is talking with beer makers Anheuser-Busch InBev and Grupo Modelo about potentially resolving a legal challenge to their $20.1 billion deal. The beer companies and the government are asking the court for a stay of all litigation proceedings until March 19. There is no guarantee a resolution will be found.
When reached for comment, Bill Henricks, Chief Operating Officer for DoALL Company, said “Merwin-Stoltz has built a reputation for providing a high level of service to its customers. They do this with a talented inside and outside sales team and a culture of caring which fit perfectly into DGI Supply’s strategic objectives.”
Dell Inc. on Tuesday posted another quarter of declining sales and profits, deepening a downturn that disenchanted shareholders and culminated in the slumping personal computer maker's recent decision to take its stock off Wall Street in a $24.4 billion deal. The proposed sale, announced just two weeks ago, diminished the importance of the numbers released Tuesday.
Since November, U.S. companies have announced a dozen purchases worth $3 billion or more in mining, food, technology, airlines and other industries. Stocks of the acquired companies have soared 20 percent or more above where they were trading before the deals were announced.
Industrial equipment maker Illinois Tool Works Inc. said Tuesday that it may sell or spin off its industrial packaging segment. The division, with 2012 revenue of about $2.4 billion, designs and makes steel, plastic, and paper products used for bundling, shipping, and protecting transported goods. Its brands include Signode, Strapex, Angleboard and Mima.
Citing an unnamed source who was briefed on the matter, The New York Times reported Friday that the Securities and Exchange Commission is looking at "unusual trading" surrounding the deal for Heinz to be purchased by Warren Buffet's Berkshire Hathaway and 3G Capital, an investment firm that also recently bought Burger King.
According to F&W President Scott Lechner, "The Wolf Pump acquisition enhances F&W’s position as a complete single line supplier of American-Made pumps for our wholesale customers. Wolf is a highly successful company manufacturing products that complement and strengthen our current offering."
H.J. Heinz Co. is being purchased by an investment group including billionaire investor Warren Buffett in a deal valued at $23.3 billion. The ketchup company says it's the largest deal ever in the food industry. Heinz, based in Pittsburgh, also makes Classico spaghetti sauces, Ore-Ida potatoes and Smart Ones frozen meals.
Anheuser-Bush InBev changed the terms of its proposed $20.1 billion acquisition of Mexican brewer Grupo Modelo Thursday in an attempt to push through a deal that federal regulators say will kill competition. AB InBev is willing to sell Modelo's Piedras Negras brewery and give perpetual rights for Corona and the Modelo brands in the U.S. to Constellation for $2.9 billion.
It's another step in GE's efforts to focus on less glamorous — but theoretically more profitable — ventures such as manufacturing medical imaging equipment, airplane engines and electrical generators. The Fairfield, Conn., company announced Tuesday that it is selling its 49 percent stake in NBCUniversal to Comcast Corp., the nation's largest cable TV operator.
Another major Dell shareholder is opposing the company's proposed $24.4 billion sale to a group led by its founder and CEO. Mutual fund firm T. Rowe Price came out against the deal in a statement issued Tuesday. Dell must now overcome the resistance of its two largest independent shareholders to gain approval to complete the sale to CEO Michael Dell and investment firm Silver Lake.
Perrigo Co., which makes over-the-counter drugs, said Monday it will expand its U.K. business by buying Rosemont Pharmaceuticals Ltd. for about $283 million in cash. Allegan said the deal will give it more liquid drugs and bolster its net income in 2013.
Constellation Brands Inc. and Crown Imports filed a motion Friday to ensure that their interests are represented in the government's case against beer maker Anheuser-Busch InBev's proposed acquisition of Grupo Modelo. Constellation was not named in the government suit but it says it has a vested stake in the deal, which it supports.
Dell is trying to reassure shareholders about its proposed $24.4 billion acquisition by a group led by its founder, saying it considered a number of strategic options before agreeing to the deal. Dell Inc. laid out the advantages of the transaction in a regulatory filing three days after a major shareholder ridiculed the buyout as a rotten deal.
HP bought Autonomy for $10 billion in 2011, but later alleged it had been misled into paying a price 64 percent above the firm's market value. In November, HP took an $8.8 billion write-down for the Autonomy acquisition, with more than $5 billion of that due to alleged "accounting improprieties."
Ellsworth Adhesives, the world’s largest distributor of adhesive products and dispensing equipment, announced today that it has acquired Tennessee-based distributor, Adhesive Methods and Technology (AMT). With operations based in Memphis, TN, Adhesive Methods and Technology specializes in industrial adhesives and dispensing equipment.
The Durham, N.C., company said Friday it has not decided on any specific alternative, and it has no time frame for completing its review. Tranzyme has no drugs on the market. It said in December it would end a mid-stage study of a treatment for diabetic gastroparesis because it failed to do better than a placebo.