Mergers and Acquisitions
Plex Systems Raises $30 Million Strategic Investment From Accel Partners
December 18, 2012 3:14 pm | News | CommentsPlex Systems, the leader in cloud-based ERP solutions for manufacturers, announced today that global venture capital and growth equity firm Accel Partners has made a $30 million strategic investment in the company. As part of the financing, Accel Partners will gain a seat on its board of directors, joining Francisco Partners, which acquired Plex Systems earlier this year.
Oklahoma Aerospace Firm Acquired By Tulsa-Based Aerospace Executives
December 18, 2012 2:47 pm | News | CommentsClearRidge Capital, an Oklahoma Investment Banking firm, announces the acquisition of Oklahoma aerospace firm First Wave MRO by seasoned Tulsa aerospace executives, Tray Siegfried and Jon Werthen. First Wave serves the world’s largest aircraft fleets, air carriers, and operators.
American Railcar Offers $543M For Greenbrier
December 18, 2012 10:59 am | News | CommentsCarl Icahn is again trying to bring together railcar makers American Railcar and Greenbrier. American Railcar, which he controls, has offered to buy Greenbrier for $542.9 million. Icahn bought a nearly 10 percent share in Greenbrier last month, saying then that its shares were undervalued.
ConocoPhillips Selling Algerian Unit For $1.75B
December 18, 2012 9:23 am | News | CommentsConocoPhillips, as part of its massive downsizing effort, has agreed to sell its business in Algeria to Indonesia's state-owned oil and gas company Pertamina for $1.75 billion. ConocoPhillips has sold more than $20 billion in refineries, pipelines and other assets since 2010 to remake itself as an independent oil and gas producer.
Mahindra Plans To Buy Navistar Stake In Ventures
December 18, 2012 8:16 am | News | CommentsThe Indian truck maker Mahindra & Mahindra Ltd. plans to buy Navistar's stake in two joint ventures for approximately $33 million as the U.S. company refocuses its capital and sheds underperforming divisions. The deal includes Navistar Group's stake in Mahindra Navistar Automotives Ltd. and Mahindra Navistar Engines Pvt Ltd.
Mayville Engineering Company, Inc. To Purchase Center Manufacturing, Inc.
December 17, 2012 2:16 pm | News | CommentsMayville Engineering Company, Inc. (MEC) today announced it has acquired Center Manufacturing, Inc. (Center), a Michigan-based manufacturer of metal products for the commercial vehicle, powersports, agriculture, construction, automotive and military industries, through a private stock purchase.
Coca-Cola FEMSA To Buy Stake In Philippines Co.
December 14, 2012 1:39 pm | News | CommentsThe 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.
New Filtration Group Combines Two Proven Industry Leaders
December 14, 2012 10:10 am | News | CommentsKaydon 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 Selling U.S. House Paints Arm For $1.05B
December 14, 2012 8:05 am | News | CommentsAkzo 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 Tech Sells 3 Businesses For $3.5B
December 13, 2012 3:54 pm | News | CommentsUnited 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.
Gilead Sciences Buying YM Biosciences For $510M
December 12, 2012 11:10 pm | News | CommentsHIV 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.
Global Corporate Deals Nearly Halved In 5 Years
December 12, 2012 8:58 am | by Pan Pylas, Associated Press | News | CommentsDespite 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.
Pratt & Whitney Sells Turbine Unit To Mitsubishi
December 12, 2012 8:48 am | News | CommentsJet 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.
Amgen Buys deCODE Genetics For $415M
December 10, 2012 12:36 pm | News | CommentsBiotech 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.
Honeywell Buying Intermec For $603.4M
December 10, 2012 8:54 am | News | CommentsIntermec 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.
Icahn Gives Up Bid For Oshkosh
December 4, 2012 11:25 am | News | CommentsBillionaire 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.
MeadWestvaco Buys Ruby Macons
December 4, 2012 8:28 am | News | CommentsPackaging 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.
Baxter To Buy Gambro For $4B
December 4, 2012 8:21 am | News | CommentsDrug 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 Completes $1.15B Sale Of Auto Business
December 3, 2012 3:45 pm | News | CommentsSPX 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.
Innospec Withdraws Bid For TPC Group
December 3, 2012 12:09 pm | News | CommentsWhat 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 And Objet Complete Merger
December 3, 2012 11:37 am | News | CommentsStratasys, 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 Buying Morningstar Foods For $1.45B
December 3, 2012 9:45 am | News | CommentsSaputo 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.
FTC Seeks Info On Tempur-Pedic-Sealy Deal
December 3, 2012 9:43 am | News | CommentsTempur-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 Completes Objet Acquisition
December 3, 2012 7:55 am | News | CommentsStratasys 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.
Yaskawa Europe To Acquire Majority Shares Of VIPA
November 30, 2012 11:43 am | News | CommentsThe 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.
