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Daily news and top headlines for manufacturing professionals

Icahn Ends Takeover Battle For Dell

September 9, 2013 10:04 am | by Tom Murphy, AP Business Writer | News | Comments

Icahn says he still opposes Michael Dell's bid but has determined it would be almost impossible to defeat it in a vote scheduled for Thursday. Icahn says he won't pursue additional efforts to defeat it. Michael Dell's $24.8 billion bid to take his company private includes an offer of $13.75 per share plus a 13-cent dividend.

Koch Industries Buying Molex For About $6.86B

September 9, 2013 8:32 am | News | Comments

Koch — run by the billionaire brothers Charles and David — said Monday that it will pay $38.50 per Molex Inc. share. That's a 31 percent percent premium to the company's $29.34 Friday closing price. The companies put the deal's total value at about $7.2 billion.

U.S. Panel OKs Smithfield Sale To Chinese Company

September 9, 2013 7:50 am | News | Comments

Smithfield said Friday that the U.S. Committee on Foreign Investment in the United States gave clearance for the pork producer to be acquired by Shuanghui International Holdings Ltd. The committee reviews overseas transactions for national-security implications.

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Baxter Completes $3.9B Acquisition Of Gambro

September 6, 2013 8:14 am | News | Comments

In July the European Union's antitrust authority cleared Baxter's bid for privately held Gambro. The European Commission said the buyout could go ahead on the condition that Baxter divest its renal replacement therapy, which serves patients suffering from acute kidney failure.

Private Equity Firm To Buy Bombardier's Flexjet

September 5, 2013 11:08 am | News | Comments

The new owners have also ordered up to 245 Bombardier aircraft in a deal whose value could reach some $5.2 billion. The order — the largest in Flexjet's history — includes a firm order for 85 business jets and 160 options for various Challenger and Learjet aircraft. The firm order is valued at $1.8 billion.

SKF Group To Buy Kaydon For About $1.14B

September 5, 2013 9:48 am | News | Comments

Kaydon Corp., which makes bearings and other industrial products, said Thursday that it reached a deal to sell itself to SKF Group for about $1.14 billion in cash.The terms of the agreement call for SKF to pay $35.50 per share for the Ann Arbor, Mich.-based Kaydon.

Microsoft Buying Nokia Phones, Patents For $7.2B

September 3, 2013 7:45 am | News | Comments

The deal marks a major step in Microsoft's push to transform itself from a software maker focused on making operating systems and applications for desktop and laptop computers into a more versatile and nimble company that delivers services on any kind of Internet-connected gadget.

Endo Will Buy Generic Drug Maker Boca For $225M

August 28, 2013 2:24 pm | News | Comments

Endo Health Solutions said Wednesday it will buy Boca Pharmacal for $225 million in a deal that expands its generic drug business. Boca Pharmacal says it makes "niche" generic drugs. Endo said privately-held Boca focuses on products that require special handling or administration.

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Akorn To Buy Hi-Tech Pharmacal For $640M

August 27, 2013 11:05 am | News | Comments

Akorn Inc. plans to pay $640 million in cash to buy fellow generic drugmaker Hi-Tech Pharmacal Co. Inc. in a deal that it expects will help boost its adjusted earnings immediately. Lake Forest, Ill.-based Akorn said that it will pay $43.50 for each share of Amityville, N.Y.-based Hi-Tech. That represents a premium of more than 23 percent over Hi-Tech's closing price Monday of $35.21.

First Solar Sells Projects To Group Led By GE

August 26, 2013 11:58 am | News | Comments

First Solar Inc. said Monday that it sold a collection of solar projects in Canada totaling 50 megawatts to an investment partnership led by GE Energy's financial services arm. Financial terms were not disclosed. The deal marks the first between First Solar and GE since their solar technology and commercial partnership was announced earlier this month.

Pritzker Family Buying TMS In $1B Deal

August 26, 2013 9:55 am | News | Comments

TMS International Corp. said Monday that it's selling itself to members of the Pritzker family in a cash deal it valued at about $1 billion including refinanced third-party debt. Pittsburgh-based TMS provides outsourced industrial services to steel mills. It operates 81 customer sites in 12 countries, along with 36 brokerage offices from which it buys and sells raw materials.

Amgen Buying Cancer Drug Maker Onyx For $10.4B

August 26, 2013 9:35 am | News | Comments

Biotech drugmaker Amgen will buy cancer drug maker Onyx Pharmaceuticals for about $10.4 billion in cash in a deal that will add several cancer drugs to Amgen's stable and add to its pipeline of new drugs. Amgen Inc. said Sunday it will acquire Onyx for $125 per share, and it expects to complete the deal at the beginning of the fourth quarter. 

Qualcomm Selling Omnitracs For $800M

August 23, 2013 2:14 pm | News | Comments

Mobile device chipmaker Qualcomm is selling its North and Latin American transportation logistics business to private equity firm Vista Equity Partners for $800 million in cash. The business, Omnitracs Inc., was one of Qualcomm's earliest businesses.

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Accenture Expands PLM With Acquisition Of PRION Group

August 20, 2013 4:54 pm | by Accenture | News | Comments

Accenture (NYSE: ACN) announced its intent to acquire PRION Group — a leading consulting and systems integrator that specializes in Siemens Product Lifecycle Management (PLM) Software. The acquisition will strengthen Accenture’s PLM skills and enhance its ability to help clients deliver products to customers faster and more efficiently.

Lexmark To Buy Saperion For $72M

August 20, 2013 10:42 am | News | Comments

Lexmark International Inc. has reached a deal to buy European business software maker Saperion AG for about $72 million in cash. The printer maker said Tuesday that the German company's products are highly scalable and easy to integrate with all major enterprise resource planning, email and document management systems.

Smithfield Sets Sept. Shareholder Vote On Takeover

August 20, 2013 8:04 am | News | Comments

Smithfield Foods Inc. shareholders will vote on the company's takeover by a Chinese company next month. The Virginian-Pilot reports that the company disclosed plans for a Sept. 24 shareholders meeting in Richmond in a proxy statement filed Monday with the U.S. Securities and Exchange Commission.

C.R. Bard To Acquire Medafor For $200M

August 19, 2013 10:32 am | News | Comments

Medafor makes Arista MPH Hemostat, a hemostatic agent that helps stop bleeding. C.R. Bard said Monday that the market for surgical hemostats is worth more than $1.4 billion. It expects the acquisition to add about 1 percent to overall revenue growth in 2014.

St. Jude Plans To Spend Up To $331M On Endosense

August 19, 2013 9:11 am | News | Comments

St. Jude Medical Inc. plans to pay up to $331 million to buy the Swiss maker of a catheter that can tell doctors whether the correct amount of force is being applied to the heart wall during a procedure to fix a form of irregular heartbeat.   

Atlas Copco To Buy Edwards Group For Up To $1.18B

August 19, 2013 8:21 am | News | Comments

Atlas said Monday it will pay up to $10.50 per share for each share of Edwards. That includes a fixed payment of $9.25 and an additional $1.25 after the closing, depending on whether Edwards' 2013 revenue and adjusted earnings before interest, taxes, depreciation and amortization fall within certain ranges.

L'Oreal Makes $843M Bid For Chinese Skincare Brand

August 19, 2013 8:18 am | by Kelvin Chan, AP Business Writer | News | Comments

Magic Holdings International Ltd. is the "ideal fit" for L'Oreal SA's existing China business and the deal also gives Magic an "ideal partner" to expand into new markets, the companies said in a joint filing Thursday. Magic is the market leader in the rapidly expanding product category of facial masks, with 26 percent market share last year, according to AC Nielsen data.

Judge Won't Fast-Track Icahn Claim Against Dell

August 19, 2013 7:46 am | by Randall Chase, AP Business Writer | News | Comments

He refused to fast-track proceedings on Icahn's claims that Dell Inc. directors have betrayed their duties to shareholders in trying to win support for Michael Dell's bid. After three delays, Dell's board has scheduled a special shareholder vote on Michael Dell's offer for Sept. 12, followed by an overdue annual meeting on Oct. 17.

Stratasys And MakerBot Complete Merger

August 15, 2013 4:58 pm | by Stratasys | News | Comments

Stratasys, Ltd. (NASDAQ: SSYS), the leader in professional 3D printing, and MakerBot, the leader in desktop 3D printing, today announced the completion of their merger first announced on June 19th. "Stratasys and MakerBot share a vision about the potential for 3D printing to transform design and manufacturing," said David Reis, Stratasys CEO.

Berkshire Buys Up GM Stock, Cuts Kraft, Mondelez

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

Warren Buffett's Berkshire Hathaway Inc. has sharply boosted its stake in General Motors, while again cutting its stakes in packaged food companies Kraft and Mondelez.As of June 30, Berkshire had 40 million shares of the auto maker, according to a filing on Thursday with the Securities and Exchange Commission.

IBM Buys Fraud Protection Software Maker Trusteer

August 15, 2013 9:31 am | News | Comments

IBM is buying fraud protection software maker Trusteer, amid the growing threat of cyberattacks. The Armonk, N.Y., technology services company announced the acquisition Thursday, but didn't disclose how much it paid for Trusteer.     

Famed Piano Maker Steinway Sold For $499M

August 14, 2013 8:22 am | News | Comments

The famed piano maker Steinway is being sold for $499 million. The company terminated an existing sales agreement with Kohlberg & Co. after it was outbid by another investment firm, Paulson & Co. Paulson topped Kohlberg's offer by $3 per share.

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