The Coca-Cola Co.'s biggest franchise bottler, Coca-Cola FEMSA, said Friday that it has agreed to buy a 51 percent stake in Coca-Cola Bottlers Philippines Inc. for $688.5 million in cash. Coca-Cola FEMSA is based in Mexico and distributes Coca-Cola products throughout Latin America.
Kaydon Custom Filtration, a global leader in bulk oil and fuel purification and Purafil, Inc., a global leader in gas phase and biological air filtration, have joined forces to form Kaydon Environmental Services Group. This consolidated group creates a unique, global environmental leadership focused on providing quality solutions for both air and liquid applications.
Akzo Nobel NV, the biggest maker of paints and coatings by sales, says it has agreed to sell its U.S. home paints arm for $1.05 billion (€800 million) to PPG Industries Inc. Akzo is the main supplier of in-store paints for Wal-Mart and makes the Glidden brand, among others.
United Technologies Corp. has sold two industrial businesses, raising nearly $3.5 billion to help finance its purchase of aerospace parts maker Goodrich Corp. The Hartford-based conglomerate said Thursday it completed the sale of Milton Roy Co., Sullair Corp. and Sundyne Corp. to BC Partners and The Carlyle Group for $3.46 billion.
HIV drug maker Gilead Sciences Inc. said Wednesday it will pay about $510 million to buy drug developer YM BioSciences Inc. Gilead said YM BioScience's most advanced drug is a possible treatment for blood diseases, inflammatory disorders, and certain cancers.
Despite big deals such as Rosneft's takeover of fellow Russian oil company TNK-BP for a projected $54.5 billion, and Glencore International PLC's $45.8 billion acquisition of miner Xstrata PLC, Ernst & Young is forecasting that the value of global M&A was 47 percent lower in 2012 at $2.25 trillion.
Jet engine maker Pratt & Whitney is selling its Power Systems segment, saying it will focus more on its core aerospace and commercial businesses. The United Technologies Corp. subsidiary announced Wednesday it is selling the turbine business to Mitsubishi Heavy Industries.
Biotech drug maker Amgen is buying human genetics research and analytics company deCODE Genetics for $415 million. DeCODE, based in Reykjavik, Iceland, has discovered genetic risk factors for dozens of diseases ranging from cardiovascular disease to cancer.
Intermec Inc., which makes barcode printers and radio frequency identification products, said Monday that it reached a deal to sell itself to Honeywell International Inc. for about $603.4 million in cash. Under the terms of the agreement, Morris Township, N.J.-based Honeywell, a technology and manufacturing company, will pay $10 per share for Intermec.
Billionaire investor Carl Icahn is giving up his bid to buy truck maker Oshkosh after less than 25 percent of the company's shares were tendered before his offer expired. OshKosh Corp. shares fell more than 5 percent in morning trading Tuesday.
Packaging company MeadWestvaco Corp. says it has completed its acquisition of corrugated packaging materials company Ruby Macons Ltd. The Richmond, Va.-based company says the move strengthens its presence in India and significantly increases capacity and accelerates its growth in the fast-growing region.
Drug and medical device maker Baxter International says it will buy the privately held Swedish company Gambro for about $4 billion to broaden its dialysis product portfolio. The Deerfield, Ill., company says Gambro makes dialysis products for patients with acute or chronic kidney disease.
SPX Corp. said Monday that it completed the sale of its automotive services business to Germany's Robert Bosch GmbH for about $1.15 billion. The division develops, manufactures and sells tools, workshop equipment, and software for the global automotive market. Net proceeds from the sale are estimated at about $1 billion.
What had been shaping up as bidding war for the Houston chemical company TPC Group appeared to come to an end Monday, when Innospec withdrew its buyout offer. Innospec made its offer after TPC had already accepted a bid of about $628 million from First Reserve Corp. and SK Capital Partners.
Stratasys, Inc. and Objet Ltd. today announced the completion of their merger, forming a leader in 3D printing and direct digital manufacturing. Based on the closing price of Stratasys, Inc. stock on November 30, 2012, the market capitalization of the new company will be approximately $3.0 billion.
Saputo is buying Dean Foods' Morningstar Foods unit for $1.45 billion. Morningstar makes dairy and non-dairy products including creams and creamers, ice cream mixes, whipping cream, aerosol whipped toppings, iced coffee, half and half, value-added milks, sour cream and cottage cheese.
Tempur-Pedic International Inc. and Sealy Corp. said Friday that the Federal Trade Commission is requesting more information on their pending deal. Specialty mattress maker Tempur-Pedic announced in September that it would acquire traditional mattress rival Sealy for about $228.6 million in cash.
Stratasys Inc., which makes three-dimensional printers and prototyping systems, has completed its all-stock acquisition of rival Objet Ltd. The deal, announced in April, gives Stratasys shareholders about 55 percent of the combined company. Israel's Objet stockholders will own the rest, the companies said Monday.
The Drives & Motion Division of Yaskawa America, Inc. is pleased to announce that Yaskawa Electric Corporation has signed an agreement between its European subsidiary, YASKAWA Europe GmbH based in Eschborn, Germany, and VIPA Gesellschaft für Visualisierung und Prozessautomatisierung mbH, based in Herzogenaurach, Germany, whereby YEU will acquire a majority of the shares of VIPA.
Billionaire investor Carl Icahn said he will walk away from his bid to buy truck maker Oshkosh if at least 25 percent of the company's shares aren't tendered before his offer for them is set to expire on Monday. Icahn, who is known for buying stakes in struggling companies and then shaking them up with mixed results, maintains that Oshkosh needs new management and a new strategy.
ITT Corporation announced today it has completed the acquisition of Joh. Heinr. Bornemann GmbH (Bornemann Pumps), a leading global provider of highly engineered pumps and systems for the oil and gas industry, as well as the industrial, food and pharmaceutical sectors.
Pfizer Inc. said Wednesday it completed its acquisition of NextWave Pharmaceuticals Inc., which makes a liquid attention deficit hyperactivity disorder drug that will hit the market in January. Pfizer, the world's largest drugmaker, said in October it would buy the privately held NextWave in a deal worth as much as $700 million.
An executive vilified by Hewlett-Packard Co. on allegations of an accounting ruse is escalating his counter-attack on the company accusing him. In a letter to HP's board, former Autonomy CEO Mike Lynch fiercely defended his integrity. He also questions whether HP is using the charges of financial shenanigans to cover up damage caused by its own ineptitude.
ConAgra Foods is buying private-label food producer Ralcorp for about $4.95 billion, which will make it the biggest private-label packaged food business in North America. ConAgra says the acquisition will strengthen its overall position in the North American packaged food business.
GE Lighting is buying LED fixture maker Albeo Technologies Inc. in order to meet the demand for energy-efficient high-bay LED lighting products. Financial terms were not disclosed. Albeo Technologies' LED systems, which include high-bay, low-bay, linear, surface mount and under cabinet fixtures, are used in commercial, warehouse, industrial, cold storage and food processing environments.