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M&A Navigator: Deal pipeline - 16 August
(M&A Navigator Via Acquire Media NewsEdge) The following is a list a of deals covered in detail by M&A Navigator this week:
- US SOLAR POWER SELLS RESIDENTIAL SOLAR UNIT TO PARAMOUNT ENERGY
US solar systems developer Solar Power (OTC:SOPW) said it has agreed to sell its residential solar serving business Yes! Solar Solutions to sector firm Paramount Energy Solutions, without revealing terms of the deal.
Status: Agreed
- MISTRAL EQUITY, MANAGEMENT BUY COUNTRY PURE FOODS
US juice maker Country Pure Foods announced its acquisition by its management team and private equity firm Mistral Equity Partners from its owners, DN Partners and First Atlantic Capital.
Status: Closed
- CORNING TO ACQUIRE FRENCH PLASLAB
US life sciences and speciality materials company Corning (NYSE:GLW) has agreed to acquire French plastic labware provider Plaslab, the holding company of Plastiques Gosselin, to build up its laboratory research tools line, Corning said.
Status: Agreed
- DELL TO ACQUIRE STORAGE FIRM 3PAR FOR USD1.15BN
US PC maker Dell (NASDAQ:DELL) said it would acquire data storage company 3PAR (NYSE:PAR) for USD18 per share in cash, or a total USD1.15bn (EUR897m), to expand its cloud computing offering.
Status: Agreed
- CANADIAN INVESTMENT FIRM ONEX OFFERS TO BUY OUT RESCARE
US ResCare (NASDAQ:RSCR), a provider of home care services to disabled people, said it has received a buyout bid from Canadian private equity firm Onex Corp (TSE:OCX) which values the company at USD370m (EUR289m).
Status: Bidding
- MEDNAX BUYS CARDIOLOGY PRACTICE IN TEXAS
US newborn, maternal-fetal and pediatric service provider Mednax (NYSE:MD) said it has acquired Roberto Villarreal M.D., a pediatric cardiology physician group practice in Laredo, Texas, for an undisclosed sum.
Status: Closed
- RATOS HOLDS 98.7% OF HL DISPLAY
Swedish private equity firm Ratos (STO:RATO A) said it has acquired 98.7% of local in-store solutions provider HL Display (STO:HL B) as part of its cash tender offer for the company at SEK49 (USD6.63/EUR5.17) per share.
Status: Agreed; Bidding
- ASSA ABLOY ACQUIRES US SECURITY METAL PRODUCTS
Swedish door locks provider Assa Abloy (STO:ASSA) has acquired US metal doors maker Security Metal Products to expand on the non-residential doors market, Assa Abloy said without revealing the deal size.
Status: Closed
- FLIR SYSTEMS TO TAKE OVER ICX TECHNOLOGIES FOR USD274M
US thermal imaging systems provider FLIR Systems (NASDAQ:FLIR) said it has agreed to take over ICx Technologies (NASDAQ:ICXT) for USD274m (EUR214m) in cash to get access to the sensor technology market.
Status: Agreed
- INTEL TO BUY TEXAS INSTRUMENTS' CABLE MODEM DIVISION
US chip maker Intel (NASDAQ:INTC) has struck a deal to acquire the cable modem business of sector player Texas Instruments (NYSE:TXN), Intel said without providing any financial details.
Status: Agreed
- RUSSIA GREENLIGHTS KITARYEV TO FULLY ACQUIRE TELEPORT
Russia' competition regulator FAS gave the go-ahead to Valery Kitaryev, founder of telecom group Teleport Saint-Petersburg, to buy out the firm, the body said.
Status: Agreed
- VEECO TO SELL METROLOGY BUSINESS TO BRUKER CORP FOR USD229M
US diversified technology group Veeco (NASDAQ:VECO) said it would sell its metrology business to Bruker Corp (NASDAQ:BRKR), a provider of scientific instruments and solutions for molecular research, for USD229m (EUR179m) in cash, as it aims to focus on its other businesses.
Status: Agreed
- ITALIAN FUND CLESSIDRA EVALUATES BUYING MAJORITY OF AS ROMA
Italian private equity firm Clessidra is willing to acquire soccer club AS Roma (BIT:ASR), the fund's founder and shareholder Alessandro Grimaldi said.
Status: Bidding; Speculation
- FINANCIAL INVESTORS KEEN ON BUYING GERMAN BHF-BANK
German BHF-Bank, part of Deutsche Bank AG (ETR:DBK), is expected to attract interest primarily from foreign financial institutions and investors.
Status: Auction
- AVIVA CONFIRMS REJECTION OF RSA BID FOR GENERAL INSURANCE ARM
UK insurer Aviva (LON:AV) has turned down a takeover approach by sector player RSA (LON:RSA) concerning its general insurance business, Aviva board confirmed following rumours among shareholders during the weekend.
Status: Terminated
- UK HUNTING BUYS US INNOVA-EXTEL
UK oil and gas services provider Hunting (LON:HTG) has agreed to acquire US downhole completion tools and harsh environment technology firm Innova-Extel Acquisition Holdings for a cash price of USD125m (EUR97.7m) to bolster its well construction business, Hunting said.
Status: Agreed
- FACEBOOK ACQUIRES START-UP CHAI LABS FOR USD10M
Social network Facebook has acquired California-based content-focused firm Chai Labs for around USD10m (EUR7.8m).
Status: Speculation
- MEKA OUTBIDS RIVALS IN BASKENT DOGALGAZ TENDER
Turkish joint venture MEKA MMEKA has placed the highest offer of USD1.211bn (EUR945m) for the acquisition of an 80% interest in the country's second-largest gas distribution grid, Baskent Dogalgaz, the privatisation authority (OIB) said.
Status: Bidding
- SWEDISH TRANSATLANTIC GAINS FULL CONTROL OF TRANS VIKING
Sweden-based shipping firm Rederi AB Transatlantic (STO:RABT B) said it has agreed to buy out its 50/50 joint venture with Norwegian investment company Kistefos -- Trans Viking Icebreaking & Offshore.
Status: Agreed
- SABANCI'S CEMENT FIRM STUDIES BUYS IN BLACK SEA, MEDITERRANEAN REGIONS
The cement company of Turkish conglomerate Sabanci Holding (IST:SAHOL) is evaluating acquisition options on the Balkans and in the Black Sea and Mediterranean regions, the company's president Mehmet Gocmen said.
Status: Bidding
- PACSGEAR TAKES OVER NAI TECH PRODUCTS
US Pacsgear, a provider of imaging connectivity solutions for the healthcare sector, said it has acquired California-based medical device company NAI Tech Products for an undisclosed sum in an effort to boost its offering.
Status: Closed
- DANISH SOLAR ANNOUNCES PARTIAL ACQUISITION OF OTRA DANMARK
Danish electrical products wholesaler Solar A/S (CPH: SOLAR B) unveiled an agreement to buy a part of the operations of sector player Otra Danmark A/S, a unit of French electrical products distributor Sonepar SA.
Status: Agreed
- GENERALI DECREASES STAKE IN SANTANDER TO BELOW 1%
Italian insurer Assicurazioni Generali SpA (BIT:G) has reduced its stake in Spanish banking group Banco Santander (MCE:SAN) to 0.965% from 1.039%, selling more than 6m shares for EUR62.3m (USD79.7m), a filing with Spanish market watchdog CNMV showed.
Status: Closed
- CREDIT SUISSE CUTS BANCO SANTANDER HOLDING TO 4.7%
Swiss bank Credit Suisse (VTX:CSGN) has reduced its stake in Spanish commercial bank Santander (MCE:SAN) to 4.659% from 5.609%, a filing with Spanish stock market regulator CMNV showed.
Status: Closed
- VEDANTA TO PAY USD8.5BN-9.6BN FOR 51-60% OF CAIRN INDIA
UK-based but India-focused miner Vedanta Resources (LON:VED) said it has agreed to buy a stake of between 51% and 60% in Cairn India (BOM:532792) from its British parent, oil and gas company Cairn Energy (LON:CNE), for between USD8.5bn (EUR6.6bn) and USD9.6bn in cash.
Status: Agreed
- PATERNOSTER PUTS ITSELF ON THE MARKET
UK pension buyout firm Paternoster has been put on the block as most of its owners are willing to exit the loss-making company.
Status: Auction
- ITALIAN UNI LAND REDUCES HOUSE BUILDING STAKE TO 87.64%
Italian real estate holding company Uni Land (BIT:UNL) has sold 313,514 shares in House Building SpA (BIT:HBG) for EUR580,000 (USD742,000), reducing its stake in the builder to 87.64% from 88.5%, House Building said.
Status: Closed
- CHINESE CONSORTIUM LOOKS AT 30% IN AIA
A major Chinese consortium is interested in buying a 30% stake in American International Assurance (AIA), the Asian life insurance arm of US AIG (NYSE:AIG).
Status: Speculation
- CARLYLE TO SELL BRITAX CHILDCARE UNIT
US private equity firm Carlyle Group is seeking a buyer for its UK-based children's car seats making unit Britax Childcare.
Status: Auction
- LAXEY PARTNERS BOOSTS STAKE IN LOK'N STORE TO OVER 29%
UK investment firm Laxey Partners has raised its stake in British self-storage services provider Lok'n Store (LON:LOK) to over 29% and has become its largest shareholder, a regulatory statement read.
Status: Closed
- ALL3MEDIA TO BUY OPTOMEN, GORDON RAMSAY'S ONE POTATO TWO POTATO
British media production group All3Media said it would acquire UK-based independent producer Optomen and One Potato Two Potato, the company behind most of celebrity chef Gordon Ramsay's hit TV shows, in a GBP40m (USD62.5m/EUR48.8m) deal.
Status: Agreed
- INDIA'S SUZLON SAID TO DISPOSE OF REPOWER UNIT STAKE
Indian Suzlon Energy (BOM:532667) is considering to sell up to 25% of its interest in Germany's REpower Systems (ETR:RPW), a developer of wind energy turbines, for USD500m (EUR391.2m).
Status: Speculation; Talks
- ADVENT INTL PLANS TO EXIT GERMAN TAKKO FASHION
US private equity firm Advent International is considering to sell or split off German clothing retailer Takko Fashion.
Status: Auction
- OFFSHORE FIRMS FENGUARD, FORMAN COMMERCIAL BUY INTO RUSSIAN SILVINIT
Russian potash fertilizer producer Silvinit (PINK:SLVNF) said offshore firms Fenguard Ltd and Forman Commercial Ltd have acquired stakes of 20% and 24%, respectively, in the company.
Status: Closed
- BANK OF AMERICA MULLS OVER CUTTING BLACKROCK INTEREST
Bank of America (NYSE:BAC) does no longer consider its 34.1% stake in US asset manager BlackRock (NYSE:BLK) a core participation and may reduce it.
Status: Auction
((Comments on this story may be sent to tww.feedback@m2.com))
(c) 2010 M2 COMMUNICATIONS
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