Germany's BASF SE says it plans to buy Pronova BioPharma ASA, a Norway-based supplier of omega-3 fatty acids, in an offer with a total value of nearly $844 million. The German industrial group said Wednesday that Pronova's management and directors support its offer for the company and are recommending that shareholders accept it.
Hewlett-Packard's $9.7 billion acquisition of Autonomy seemed like a bad idea long before allegations of an accounting scandal made clear it was a deal that should never have happened. HP has squandered billions of dollars on ill-advised acquisitions, compounding the challenges it already faces as it scrambles to adjust to a world that is shifting away from PCs to smartphones and tablets.
South Florida’s Armchem International, a leading business-to-business provider of specialty industrial and maintenance products to over 25,000 customers worldwide today announced that it has acquired the Greensboro-based Handi-Clean Products, a manufacturer of environmentally friendly cleaning products and equipment.
German drug maker Bayer AG says it won't raise its offer for Schiff Nutrition, refusing to engage in a bidding war with British consumer goods company Reckitt Benckiser Group PLC. Shares of vitamin and nutritional supplement seller Schiff Nutrition International Inc. dropped 5 percent in premarket trading on Tuesday.
Electric motor manufacturer Yaskawa Electric Corp. said Tuesday it will acquire Vipa GmbH, a German maker of programmable logic controllers for factory automation. Yaskawa said the acquisition through Yaskawa Europe GmbH will allow it to strengthen its motion control business.
Fiat Industrial has sweetened its offer for a full merger with its U.S. subsidiary, the farm equipment maker CNH Global N.V. Fiat Industrial said in a statement Monday that its "best and final offer" incudes a cash dividend of $10 per CNH share — which it said improves the deal's value by 25 percent.
Medical device maker Wright Medical Group Inc. plans to buy BioMimetic Therapeutics Inc. in a $190 million cash-and-stock deal to help grow its foot and ankle business. The companies said Monday the deal could grow to $380 million if some incentives are met.
Cisco Systems Inc., the world's largest maker of computer networking gear, is buying Meraki for $1.2 billion to expand its ability to let customers compute in the cloud. Cloud computing refers to the increasingly popular practice of storing software applications in remote data centers that are accessed over the Internet instead of installing programs on individual machines.
The Seattle-based company said Wednesday that it will pay $620 million in cash to buy Teavana Holdings Inc., which sells high-end loose leaf teas in 300 shopping mall locations. The plan is to expand Teavana's footprint beyond the mall with stand-alone shops, adding tea bars with specialty drinks.
Shares of chipmaker Advanced Micro Devices Inc. spiked and then retreated Tuesday after a report said the company was exploring options including a sale. The company denied it. Reuters said on Tuesday afternoon that AMD had hired JPMorgan Chase & Co to explore strategic options including a sale, citing unnamed sources.
Health and industrial sciences company PerkinElmer Inc. said Monday it acquired Haoyuan Biotech Co., a Chinese company that makes diagnostic tests for infectious diseases. PerkinElmer said it agreed to pay about $38 million for the deal, and it could make additional payments based on sales of Haoyuan Biotech' products.
British oil company BP and its Russian partner AAR say they have settled all disputes between them as both prepare to sell their stakes in their lucrative but contentious joint venture, TNK-BP. Both have agreed to sell their positions to the Russian state-controlled oil company Rosneft.
Hitachi Metals Ltd. and Hitachi Cable Ltd. have decided to merge in April to boost competitiveness against foreign rivals, company sources said Tuesday. Hitachi Metals has expertise in development of neodymium magnets essential to motors for electric vehicles and industrial machinery, while Hitachi Cable produces electric and optical cables, for which demand from emerging economies is rising.
Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in a cash deal it values at about $2.34 billion. Consorcio Comex sells paints and coatings under several brands in the United States and Canada, and it sells architectural and industrial coatings in Mexico.
Overall merger and acquisition (M&A) activity soared in the industrial manufacturing sector during the third quarter of 2012, according to Assembling Value, a quarterly analysis of M&A activity in the global industrial manufacturing industry by PwC US.
Carl Icahn said Thursday that a letter sent by Oshkosh Corp.'s board to the company's shareholders urging they reject the activist investor's offer to buy the company "grossly misrepresents" his intentions. In his own letter to Oshkosh's shareholders, Icahn said the company's letter is a "blatant and insulting obfuscation of my intent and the facts."
Chinese home appliance giant Haier Group has secured the required 90 percent shareholder acceptance to execute a complete takeover of New Zealand's Fisher & Paykel Appliances. Haier announced Tuesday it had reached the threshold, which means Haier can compulsorily acquire the remaining shares and delist the company from the New Zealand stock market.
Digi International today announced the purchase of Chicago-based Etherios, Inc., a salesforce.com Platinum Partner and creator of The Social Machine®, a revolutionary new cloud-based method for integrating machines into core business processes via the Salesforce Service Cloud.
“Elite Line Services will continue to offer the same high-quality service it always has to airports across North America,” said Brian Stewart, President & Co-CEO of Daifuku Webb Holding Company. “The only change is it now has the support of a $2-billion organization and one of the largest airport baggage handling system providers in the world.”
Daikin Industries Ltd., a major Japanese air conditioning equipment maker, said Friday it has acquired its U.S. rival Goodman Global Inc. for $3.7 billion. Through the acquisition, Daikin aims to launch environmentally-friendly products in U.S. residential and commercial markets by combining its environmental technologies with Goodman's air conditioners.
RedPrairie and JDA Software, recognized leaders in enterprise software and services for the extended supply chain, announced today that JDA and affiliates of RedPrairie have entered into a definitive merger agreement. The combined entity will offer a broad portfolio of solutions and services to manage global supply chains - from raw materials, to finished products, into the hands of consumers - through any channel.
Watson Pharmaceuticals Inc. completed its $5.6 billion of Swiss competitor Actavis Group Wednesday, and the company said Thursday that it expects that profit to grow at least 30 to 40 percent in 2013. The generic drug seller is now forecasting adjusted net income to more than double this year, to $5.85 to $5.95 per share, on revenue of $5.9 billion.
Clothing maker PVH says it will buy competitor The Warnaco Group in a cash-and-stock deal worth about $2.9 billion that will create one of the world's largest branded lifestyle apparel companies. PVH brands include Calvin Klein and Tommy Hilfiger. The Warnaco Group Inc. also sells Calvin Klein, as well as Speedo, Warner's and Olga.
Italian automaker Fiat's plan to increase capital investments in Italy will slow the completion of its acquisition of Chrysler. Fiat and Chrysler CEO Sergio Marchionne told investors that due to new Fiat investments announced Tuesday there "is no room left for the acquisition of the minority interest in Chrysler. "
Mizkan Group Corp. said Tuesday it has agreed with Premier Foods Group Ltd. of Britain to buy out its range of sweet pickles and table sauces by early 2013 aiming to tap further into the British market. The Japanese seasoning and food manufacturer will acquire the Branston brand of products that includes pickles, ketchup, relish, salad cream and mayonnaise.