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Daily news and top headlines for manufacturing professionals

Corporations Still Deal-Shy Even As Stocks Surge

November 20, 2013 9:04 am | by Steve Rothwell, AP Markets Writer | News | Comments

A surging stock market usually comes with a boom in corporate deal-making. But deals are lagging this year, even as the market notches a series of record highs and is headed for its best year in a decade.         

Nokia Shareholders Approve Microsoft Deal

November 19, 2013 8:02 am | by Matti Huuhtanen, Associated Press | News | Comments

Nokia shareholders have overwhelmingly approved the sale of the ailing cellphone division and a portfolio of patents and services to Microsoft Corp. for 5.4 billion euros ($7.2 billion). The vote came at an extraordinary meeting of shareholders on Tuesday called by the Finnish phone maker that has seen its global market share shrink as it battles stiff competition from Apple and Google Inc. in the lucrative smartphone trade.

CareFusion To Pay $500M For GE Vital Signs Unit

November 18, 2013 10:15 am | News | Comments

Medical products maker CareFusion said Monday it will buy GE Healthcare's Vital Signs unit for $500 million in a deal that expands its manufacturing capacity and nearly doubles the revenue of its specialty disposable products business.     

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Elan Shareholders Approve Sale To Perrigo

November 18, 2013 9:55 am | News | Comments

Irish drugmaker Elan says its shareholders have approved the sale of the company to Perrigo Co. for $8.6 billion. The company said 99.5 percent of the shares voted at a special meeting were voted in favor of the sale. That made up 66 percent of its total shares.

Under Armour Buying MapMyFitness For $150M

November 15, 2013 8:43 am | News | Comments

Athletic clothing and gear maker Under Armour Inc. said Thursday that it is acquiring fitness-tracking technology company MapMyFitness for $150 million as it seeks to expand into the digital arena.Wearable fitness gadgets like FitBit and Nike fuelband, as well as online programs such as Nike's Training Club, are a fast-growing area of the athletic industry.

Sealed Air Selling Medical Package Unit For $125M

November 13, 2013 12:38 pm | News | Comments

Sealed Air President and CEO Jerome Peribere said in a statement Wednesday that the business "no longer presents a strategic fit for us." He added that the company will still make packaging products for the medical and pharmaceutical industry.   

Rockwell Automation To Acquire Jacobs Automation

November 12, 2013 3:02 pm | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Rockwell Automation today announced its intention to acquire Jacobs Automation, a developer of intelligent track motion control technology. The company will be integrated into Rockwell Automation’s Motion Business, with the acquisition expected to close in January 2014.

Novartis In Deal To Sell Diagnostics Unit

November 11, 2013 7:51 am | News | Comments

The company, based in Basel, Switzerland, says the deal with Grifols SA, which is headquartered in Barcelona and is the world's third-largest producer of plasma-derived therapies, requires customary regulatory approvals but is expected to be completed in the first half of 2014.

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Court Rejects Cooper Tire Claim In Apollo Dispute

November 11, 2013 7:48 am | News | Comments

The Delaware Court of Chancery has rejected a claim by Cooper Tire & Rubber Co. that Apollo Tyres breached the terms of an agreement to buy Cooper Tire. The decision handed down Friday is the latest snag in a monthslong dispute that has delayed Apollo's takeover of Findlay, Ohio-based Cooper.

Shire Buys ViroPharma In $4.2B Deal

November 11, 2013 7:46 am | News | Comments

Shire PLC will pay $50 a share, a 27 percent premium on last week's closing price. ViroPharma makes CINRYZE, which treats hereditary angioedema, a disease characterized by recurrent attacks of swelling of the skin or mucous membranes.   

Essilor Buying Costa In Deal Valued At About $270M

November 8, 2013 10:43 am | News | Comments

Essilor International is buying sunglass maker Costa in a deal that the buyer values at approximately $270 million. Costa Inc., formerly known as A.T. Cross, designs, assembles and markets sunglasses under the Costa and Native brands. France's Essilor makes and sells ophthalmic lenses and ophthalmic optical instruments.

Salix Pharma Will Buy Santarus For $2.12B

November 8, 2013 7:22 am | News | Comments

Salix Pharmaceuticals will buy Santarus for about $2.12 billion to add to its roster of drugs focused on gastrointestinal disorders. Salix will pay $32 per share for Santarus' stock, the drugmakers said Thursday, valuing Santarus at $2.6 billion including debt.

PwC: Mega Deals Drive Surge in Industrial Manufacturing Deal Value

November 7, 2013 11:57 am | News | Comments

Deal activity in the industrial manufacturing sector experienced an uptick in the third quarter of 2013, while merger and acquisition (M&A) value for the quarter rose to the highest level since the fourth quarter of 2007. The strength of industrial manufacturing M&A in the past three months was largely driven by strategic investors in advanced economies.

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Open Text Buying GXS Group In $1.17B Deal

November 5, 2013 11:49 am | News | Comments

The software company Open Text is buying cloud-technology provider GXS Group in a cash-and-stock deal valued at approximately $1.17 billion. Open Text, based in Waterloo, Ontario, will pay about $1.07 billion in cash and $100 million of its stock. When the deal closes, part of the cash portion of the purchase price will be used to repay some GXS debt.

Endo Health Buying Paladin Labs For About $1.5B

November 5, 2013 7:56 am | News | Comments

Endo Health is buying the Canadian specialty drug maker Paladin Labs for about $1.5 billion, and both will then be folded into a newly-formed Irish holding company. Paladin shareholders will receive 1.6331 shares of stock in the new company and 1.16 Canadian dollars ($1.11) in cash for each share.

BlackBerry Abandons Sale Process, CEO Out

November 4, 2013 10:23 am | by Rob Gillies, Associated Press | News | Comments

Fairfax, BlackBerry's largest shareholder with a 10 percent stake, said it won't buy the struggling smartphone company and take it private but said it and other investors will inject $1 billion as part of a revised investment proposal. BlackBerry said CEO Thorsten Heins is stepping down.

Generac To Acquire Baldor’s Generator Business

November 1, 2013 3:41 pm | News | Comments

Generac Holdings Inc. (NYSE:GNRC) has today announced the closing of a purchase agreement with Baldor Electric Company to acquire substantially all of the assets of Baldor’s generator products division. That group, under the name of Baldor Generators, offers a line of portable, mobile standby and prime power generators ranging from 3kW to 2.5MW.

Accenture To Acquire PCO Innovation

October 31, 2013 1:03 pm | News | Comments

Accenture has today announced its intent to acquire PCO Innovation, a systems integration group that specializes in product lifecycle management (PLM) technology. Terms of the agreement were not immediately announced, nor were details as to how the companies will integrate services, facilities and labor forces.

Crown Holdings Buying Mivisa Envases For $1.64B

October 31, 2013 8:03 am | News | Comments

Crown Holdings is spending $1.64 billion to acquire the Spanish canning company Mivisa Envases and expand its footprint in Europe.Mivisa is the largest canner in the Iberian peninsula with sales of more than $500 million, Crown said Thursday.    

Mexican Regulators Deny Sherwin-Williams Appeal

October 30, 2013 10:32 am | News | Comments

The Federal Competition Commission of Mexico turned down the deal in July in a 3-2 vote. Sherwin-Williams said it was informed Tuesday evening that its appeal of that decision was denied and the deal is not authorized. It said it is reviewing the commission's reviewing the decision and considering its options.

Rockwell Automation To Acquire vMonitor

October 30, 2013 10:17 am | News | Comments

Rockwell Automation, Inc., yesterday announced its intent to purchase vMonitor, a technology company that creates wireless solutions for customers in the oil and gas industry. Rockwell officials say the deal is expected to close within two months.

Dell Closes On Deal To Go Private

October 30, 2013 8:14 am | News | Comments

Michael Dell and investment firm Silver Lake Partners have completed their $24.9 billion buyout of Dell Inc. The computer company said Tuesday that its shares will stop trading at the end of the day, closing its quarter-century run as a public company.

AMETEK Acquires Creaform For $120 Million

October 29, 2013 10:57 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

AMETEK, Inc. (NYSE: AME) today announced its acquisition of Creaform, Inc., for approximately $120 million. The Lévis, Canada-based Creaform is privately-held and has annual sales of approximately $52 million, according to AMETEK. It will join AMETEK as part of its Electronic Instruments Group (EIG), which also features advanced monitoring, testing, calibrating, and display instruments.

Mosaic Pays $1.4B For CF Industries Phosphate Unit

October 28, 2013 9:49 am | News | Comments

The Mosaic Co. plans to buy the phosphate business of CF Industries in a deal the fertilizer producer values at about $1.4 billion.The Plymouth, Minn., company will pay $1.2 billion in cash, plus $200 million to fund an escrow account CF Industries maintains for certain environmental obligations related to its Florida facilities.

Philips Scraps Deal To Sell Audio Equipment Unit

October 28, 2013 8:24 am | News | Comments

Royal Philips NV said Friday it is terminating a deal to sell its home audio equipment unit to Japan's Funai Electric Co. due to what is said was Funai's breach of contract. The Dutch electronics giant said Funai refused to take necessary steps to enable the completion of the transaction in the final stage. Philips has not disclosed what exactly happened.

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