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Daily news and top headlines for manufacturing professionals

BlackBerry Weighs Putting Itself Up For Sale

August 12, 2013 10:25 am | by Rob Gillies, Associated Press | News | Comments

Struggling smartphone maker BlackBerry will consider selling itself. The company said Monday that its board has formed a special committee to explore "strategic alternatives" in hopes of boosting the adoption of its BlackBerry 10 smartphone. The company said its options could also include joint ventures, partnerships, or other moves.

Pinnacle Foods Buying Wish-Bone For $580M

August 12, 2013 8:04 am | News | Comments

Pinnacle Foods is buying Wish-Bone salad dressings from Unilever for $580 million. Combined annual sales, which include the liquid and dry-mix salad dressings under the Wish-Bone and Western brands, total about $190 million.      

Rockwell Collins Buys ARINC For $1.39B

August 12, 2013 7:36 am | News | Comments

Aviation and military electronics maker Rockwell Collins said Sunday it is buying Annapolis, Md.-based ARINC Inc. from the investment firm The Carlyle Group for $1.39 billion.Cedar Rapids-based Rockwell Collins, which currently does more than half its business with the government, was seeking to add commercial customers.

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Newell Rubbermaid To Sell Hardware Business

August 9, 2013 2:14 pm | News | Comments

Newell Rubbermaid Inc. said Friday that it had agreed to sell its hardware business to investment firm Nova Capital for about $214 million in overall proceeds before taxes.Newell said the sale will leave it with a strong portfolio of brands with potential for growth. The deal is expected to close sometime during the third quarter.

Danone Buys YoCrunch

August 9, 2013 1:49 pm | News | Comments

French dairy company Danone SA says it has acquired Connecticut-based yogurt maker YoCrunch in a move aimed at expanding its presence in the U.S.M&Ms candies and Oreos cookie crumbs are among the tasty toppings YoCrunch has secured licenses for to include with its yogurts in compartmentalized packaging.

Wausau Acquires Colo.-Based Custom Window

August 8, 2013 10:12 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Apogee Wausau Group, Inc., the parent company of Wausau Window and Wall Systems, has acquired Benchmark Sales Agency, Inc. under undisclosed terms. The acquisition includes Custom Window Company, Inc., and Wausau says this acquisition will help it expands its offerings to new geographic areas in the U.S.

Beechcraft Closer To Sale Of Business Jet Assets

August 5, 2013 12:22 pm | News | Comments

Beechcraft Corp. expects to close a deal on the sale of its idled business jet assets before the end of the year and has received widespread interest for them, a top official said. "The interest has been worldwide," said Beechcraft CEO Bill Boisture. "There have been international, U.S. and local interest in these assets."

Ericsson And STMicroelectronics Split Up ST-Ericsson

August 5, 2013 11:37 am | News | Comments

Ericsson and STMicroelectronics today announced they have closed the transaction for the split-up of ST-Ericsson, with the formal transfer of relevant parts of the joint venture to each parent company. The plan, effective August 2, 2013, means some existing activities are being shut down with equal funding from both companies.

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E2open Acquires icon-scm In $34M Deal

August 5, 2013 10:11 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Foster City, Calif.-based E2open has announced its recent acquisition if icon-scm, a provider of supply chain planning and collaboration technologies, in a transaction valued at approximately $34 million. E2open hopes to expand its market opportunity and accelerate its product roadmap with the recent deal.

Cubist Pharmaceuticals To Acquire 2 Drug Makers

August 1, 2013 11:46 am | News | Comments

Cubist Pharmaceuticals Inc. said Tuesday that it plans to acquire two other drug makers, Optimer and Trius Therapeutics, in an effort to expand its product portfolio. The deals are valued at $801 million and $818 million, if certain milestones are reached, respectively.

Dell's Board Deals Blow To CEO's $24.4B Buyout Bid

August 1, 2013 11:28 am | by Michael Liedtke, AP Technology Writer | News | Comments

The rebuff announced Wednesday marks the latest blow that Michael Dell and his main backer, Silver Lake Partners, have absorbed since reaching an agreement with Dell Inc.'s board nearly six months ago to buy the Round Rock, Texas, company for $24.4 billion, or $13.65 per share.

Report: Emerging Nations Show Interest In Q2 Manufacturing M&A

August 1, 2013 10:51 am | by PwC US | News | Comments

While deals in the industrial manufacturing sector were more moderately paced in the second quarter of 2013 when compared to the norms of recent years, acquirers from emerging and developing nations, most notably China, remained actively involved in merger and acquisition (M&A) activity, according PwC US.

French Firm Agrees To A Deal For Invensys

July 31, 2013 11:35 am | News | Comments

France's Schneider Electric is to buy industrial software firm Invensys for a 3.4 billion pound ($5.2 billion).Schneider, which has 140,000 employees, has signaled plans to offload non-core divisions within Invensys, which develops technology for oil refineries and other sectors.

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Fives Completes Acquisition Of MAG Americas

July 30, 2013 4:16 pm | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Fives has announced its acquisition of MAG Americas by bringing onboard three more of its brands — Cincinnati, Giddings & Lewis and Forest-Liné. The company says its recent purchase will help it strengthen its position in aerospace, renewable energy and mining equipment by increasing its capacity to manufacture the high-precision machine tools used to manufacture complex or high-performance equipment.

Valeant To Cut Jobs, Move Bausch + Lomb HQ

July 30, 2013 7:41 am | News | Comments

In a letter to its own and Bausch + Lomb workers, Valeant said that after the deal closes, it will eliminate between 10 percent and 15 percent of positions companywide. That works out to between 1,850 and 2,775 people and is expected to include both Valeant and Bausch + Lomb workers.

Icahn Contests Condition In Latest Dell Offer

July 29, 2013 8:51 am | News | Comments

Billionaire investor Carl Icahn is warning that the latest offer from Dell's founder to buy the struggling computer maker bypasses an important safeguard for shareholders. Icahn and the investment firm Southeastern Asset Management say Michael Dell wants to circumvent the voting process behind the deal by preventing stockholders from passively dissenting on the offer.

Perrigo To Buy Elan For $8.6B

July 29, 2013 8:50 am | by Shawn Pogatchnik, Associated Press | News | Comments

U.S. drugmaker Perrigo agreed Monday to buy Ireland's Elan for $8.6 billion in a deal that should allow the rapidly growing company to reduce its tax bill and boost its royalty stream.Perrigo Co. said it would pay Elan Corp.'s investors $6.25 per share in cash and $10.25 in Perrigo stock.

PPG Industries To Sell Subsidiary For $1.73B

July 29, 2013 8:02 am | News | Comments

PPG Industries Inc. will sell its majority stake in lens supplier Transitions Optical to Essilor International for about $1.73 billion in cash. Essilor also will acquire PPG's optical sun lens business, and PPG will continue to supply optical dyes and research and development services.

Panasonic To Sell Part Of Healthcare Business

July 26, 2013 8:06 am | News | Comments

Panasonic Corp. said Friday it will sell its ultrasonic diagnostic equipment business to Konica Minolta Inc. in January 2014 as part of efforts to improve its financial base eroded by the firm's recent sluggish performance. Panasonic will sell the business operated by its health care subsidiary Panasonic Healthcare Co.

Power-One's Stockholders Approve Acquisition By ABB Ltd.

July 24, 2013 3:42 pm | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Camarillo, Calif-based Power-One, Inc. has been acquired by ABB in an all-cash transition valued at approximately $1 billion. The transaction has already received the required antitrust approvals, which means the companies are hoping to complete the transaction by the end of this week. Today, the terms of the acquisition means Power-One will be purchased for $6.35 per share of Power-One common stock.

HanesBrands Buying Maidenform For About $547.6M

July 24, 2013 1:59 pm | News | Comments

HanesBrands is buying underwear maker Maidenform Brands Inc. for approximately $547.6 million. The deal would add brands like Maidenform, Flexees and Self Expressions to the Hanesbrand roster that includes Playtex, Bali, Champion, Wonderbra and its namesake Hanes.

Dell's Founder Boosts Offer To Buy The Company

July 24, 2013 9:39 am | News | Comments

The move came just hours before Dell's shareholders were scheduled to vote on the previous offer from Michael Dell and the investment firm Silver Lake Partners. The Round Rock, Texas, company said it was delaying its shareholder meeting for a second time, moving it to Aug. 2 to give its board time to consider the offer.

Cisco Inks Deal To Buy Sourcefire For $2.37B

July 23, 2013 10:51 am | News | Comments

Cisco said Tuesday that it reached a deal to buy computer network security company Sourcefire for about $2.37 billion in cash. Under the terms of the agreement, Cisco will pay $76 cash for each of the Columbia, Md.-based company's shares. The price represents a 29 percent premium over Sourcefire's Monday closing stock price.

Adobe Completes $600M Purchase Of Neolane

July 23, 2013 8:16 am | News | Comments

Adobe Systems Inc. said Tuesday that it has closed on a $600 million purchase of Neolane, a French company that provides technology for marketing campaigns. Adobe, which makes Photoshop and other creative software and is shifting its business to a subscription model, said that Neolane would bolster its digital-marketing services.

Flowers Foods Completes Hostess Bread Buyout

July 22, 2013 1:46 pm | News | Comments

Flowers Foods Inc. has completed its $355 million acquisition of several breads, bakeries and other assets from the company previously known as Hostess Brands. Flowers said Monday that the deal strengthens its position as the second-biggest baker in the U.S. because the breads and bakeries will expand its reach geographically into new markets.

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