Mergers and Acquisitions
JDA And RedPrairie To Merge, Establish Global Enterprise Software Company
November 1, 2012 2:56 pm | News | CommentsRedPrairie 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 Completes Actavis Purchase
November 1, 2012 9:42 am | News | CommentsWatson 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.
PVH To Buy Warnaco In $2.9B Deal
October 31, 2012 8:28 am | News | CommentsClothing 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.
Fiat's Investment Plans Slow Chrysler Ownership
October 30, 2012 2:23 pm | News | CommentsItalian 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 To Acquire British Pickles Brand
October 30, 2012 12:28 pm | News | CommentsMizkan 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.
Sealed Air Selling Japanese Cleaning Unit
October 30, 2012 10:54 am | News | CommentsSealed Air Corp. is selling its Japanese cleaning unit to The Carlyle Group for about $377 million. Diversey G.K., a subsidiary of Sealed Air's Diversey Inc., provides cleaning, sanitation and hygiene products, mainly to institutional customers in the Japanese market.
Bayer To Acquire Schiff
October 30, 2012 8:39 am | by David Rising, Associated Press | News | CommentsGerman drug and chemical maker Bayer AG said Tuesday it is buying U.S. vitamin and supplement maker Schiff Nutrition International Inc. for $1.2 billion in a cash deal it hopes will bolster the offerings of its consumer health division. The announcement came as the company reported net income fell 17.8 percent.
Hitachi To Buy Horizon Nuclear
October 30, 2012 7:59 am | News | CommentsJapan's Hitachi Ltd. has agreed to buy British atomic power company Horizon Nuclear Power Ltd. from its German owners for $1.12 billion. The companies announced the deal Tuesday, ending months of uncertainty after the 50-50 owners of Horizon, RWE AG and E.ON AG, abandoned plans to build nuclear power plants in Britain.
Patheon To Acquire Banner Pharmacaps
October 29, 2012 3:56 pm | News | CommentsPatheon Inc., a leading provider of contract development and manufacturing services to the global pharmaceutical industry, today announced that it has entered into a definitive agreement with VION N.V. to acquire Banner Pharmacaps, a specialty pharmaceutical business dedicated to the research, development and manufacturing of unique gelatin-based dosage forms.
Watson Sells Rugby Drug Business For $117M
October 29, 2012 2:36 pm | News | CommentsWatson Pharmaceuticals Inc. said Monday that it has sold its over-the-counter Rugby drug business to The Harvard Drug Group LLC. for about $117 million. Harvard Drug Group, headquartered in Livonia, Mich., is a major distributor and provider of private label over-the-counter products and generic prescription products sold under the Major Pharmaceuticals brand.
Mohawk Industries Buys Pergo For $150M
October 29, 2012 11:23 am | News | CommentsMohawk Industries is buying laminate flooring maker Pergo for $150 million in cash. Chairman and CEO Jeffrey Lorberbaum said in a statement Monday that the acquisition will complement Mohawk's specialty distribution network and enhance its geographic position.
Johnson Controls Declines Lender Role For A123
October 29, 2012 9:36 am | News | CommentsAuto parts maker Johnson Controls is stepping away from its position as the debtor-in-possession lender during the bankruptcy process for battery maker A123 Systems in order to prevent delays. The company is avoiding a premature legal tussle with Chinese auto parts maker Wanxiang Group Corp., which is challenging Johnson Controls' role as the primary bidder for A123.
Ford To Sell Climate Control Business
October 29, 2012 8:54 am | News | CommentsFord is selling a climate control business to a joint venture owned by a French auto supplier and a former member of the Detroit Pistons. Financial terms were not disclosed. The deal marks the last of the Dearborn, Mich.-based automaker's Automotive Components Holdings LLC businesses to be sold.
Oshkosh Rejects Icahn Buyout Offer
October 26, 2012 10:57 am | News | CommentsOshkosh rejected a buyout offer from billionaire investor Carl Icahn Friday. The Wisconsin truck maker said that Icahn's tender offer of $32.50 per share undervalued the company and was not in the best interest of shareholders. The company's board unanimously recommended stockholders reject Icahn's offer and not tender any of their shares.
United Technologies To Sell Pump Unit For $236M
October 25, 2012 4:27 pm | News | CommentsUnited Technologies Corp. said Thursday that it has made a deal to sell the pump and engine control systems units that it got as part of its purchase of Goodrich. The business is being bought by aircraft parts maker TransDigm Group Inc., which said it is paying $236 million in cash.
PolyOne To Buy Spartech Corp.
October 25, 2012 8:38 am | News | CommentsChemical company PolyOne Corp. reported an 11 percent increase in its third-quarter net income on Wednesday and disclosed it has agreed to buy plastics products maker Spartech Corp. for $246 million in stock and cash. PolyOne makes resins used in plastic pipe and other products, and said the earnings increase reflected an improved product mix.
Honeywell Buying Saia Burgess Controls For $130M
October 24, 2012 11:56 am | News | CommentsTechnology and manufacturing company Honeywell International Inc. said Wednesday it agreed to buy Saia Burgess Controls for $130 million. Honeywell said the company makes programmable controllers, touch screen panels, counters and timers used in heating, ventilation, and air conditioning, and energy-management systems.
Buffett Hunting For Big Acquisition For Berkshire
October 24, 2012 11:36 am | News | CommentsBillionaire investor Warren Buffett says he continues looking for a major acquisition for his Berkshire Hathaway, but he's not willing to pay more to compete with other bidders. Buffett says Berkshire has lost out on a couple of major acquisitions in recent years because private equity firms are bidding aggressively with borrowed money.
Watson Sells Stake In Latin American Drug Maker
October 23, 2012 12:32 pm | News | CommentsGeneric drug maker Watson Pharmaceuticals Inc. said Monday that it sold its stake in South American pharmaceutical company Moksha8 for $47 million. The announcement came the same day that specialty drug maker Forest Laboratories inked a new sales agreement with the company.
Hen Rui Xin Buys LDK Solar Stake
October 22, 2012 12:25 pm | News | CommentsChinese solar equipment maker LDK Solar is selling a stake in the company of about 20 percent to Hen Rui Xin Energy, a state-run Chinese company, for around $23 million. LDK Solar Co. said Monday that Hen Rui Xin is buying approximately 26.7 million shares at 86 cents apiece.
Pfizer To Buy NextWave Pharma For Up To $700M
October 22, 2012 11:45 am | News | CommentsPfizer said Monday it will buy NextWave Pharmaceuticals Inc., a company that makes a liquid attention deficit hyperactivity disorder drug, in a deal worth as much as $700 million. The Food and Drug Administration approved NextWave's drug Quillivant XR in September, and the once-per-day drug is expected to be in pharmacies in January.
Toyota Industries Buying Cascade For $759M
October 22, 2012 11:43 am | News | CommentsJapanese transportation equipment company Toyota Industries is buying U.S. parts maker Cascade in a deal valued at $759 million. Toyota Industries Corp., a sister company of automaker Toyota Motor Corp., will pay $65 per share for Cascade, the companies said Monday.
Russia's Rosneft Buys Out TNK-BP
October 22, 2012 8:35 am | News | CommentsRussian oil giant Rosneft said Monday it is buying TNK-BP, the joint venture between AAR, a group of Russian oil oligarchs, and BP, the British the energy company. BP said it had agreed to sell its 50 percent stake in TNK-BP to Rosneft for $17.1 billion in cash and a 12.84 percent stake in the Russian oil group.
MeadWestvaco Buying Ruby Macons
October 19, 2012 7:03 am | News | CommentsPackaging company MeadWestvaco said Friday that it is buying corrugated packaging materials company Ruby Macons Ltd. in order to strengthen its presence in India. Financial terms were not disclosed. Ruby Macons, which was founded in 1986, produces more than 150,000 tons of corrugated packaging materials annually.
Hawker Beechcraft Sale Collapses
October 18, 2012 11:54 am | by Roxana Hegeman, Associated Press | News | CommentsHawker Beechcraft says it will no longer pursue the sale of its operations to Chinese-based Superior Aviation Beijing Co. Hawker plans to emerge from bankruptcy as a stand-alone company. The Wichita-based plane-maker announced Thursday that the company protected itself during the exclusive talks by obtaining a $50 million non-refundable deposit that is now the property of the company.
