TMCnet News
M&A Navigator: Deal pipeline - 17 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: - TELEPERFORMANCE BUYS SCOTTISH FIRM TO EXPAND IN THE UK French outsourced contact centre specialist Teleperformance (EPA:RCF) has acquired Scotland-based sector player Becogent to expand its presence in the UK. Status: Closed - STRYKER IN TALKS TO BUY BOSTON SCIENTIFIC UNIT US medical technology company Stryker (NYSE:SYK) is in advanced talks on the acquisition of the pain-management device unit of sector player Boston Scientific (NYSE:BSX) for some USD1.5bn (EUR1.2bn). Status: Talks - ZYNGA ACQUIRES CONDUIT LABS US social game developer Zynga has taken over Boston-based sector player Conduit Labs for an undisclosed sum. Status: Closed - BROADRIDGE TO ACQUIRE NEWRIVER FOR USD77M US Broadridge Financial Solutions Inc (NYSE:BR) said it had inked a deal to take over NewRiver Inc, a provider of electronic investor disclosure solutions, for around USD77m (EUR59.7m). Status: Agreed - US DIAMOND WIRELESS TO BE TAKEN OVER BY GLENTEL US retailer of wireless products Diamond Wireless, part of the portfolio of Unique Investment, has agreed to be acquired by Canadian telecommunications firm Glentel Inc (TSE:GLN) for USD50.5m (EUR39.2m). Status: Agreed - US AURASOUND TAKES OVER AUDIO SOLUTIONS PROVIDER ASI US audio product manufacturer AuraSound Inc (OTC:ARUZ) said it had finalised the purchase of Hong Kong-based audio solutions provider ASI Holdings Ltd and its US subsidiary, ASI Audio Technologies. Status: Closed - US EISNER, AMPER TIE UP US accounting companies Eisner LLP and Amper, Politziner & Mattia LLP said they had merged their businesses to set up EisnerAmper LLP. Type: Merger - HP BUYS FORTIFY SOFTWARE US technology company Hewlett-Packard Company (NYSE:HPQ) has agreed to acquire security software firm Fortify Software for an undisclosed sum. Status: Agreed - LEAPFROG BUYS MARKETING AGENCY KENSINGTON CREATIVE WORLDWIDE US strategic marketing communications firm LeapFrog Solutions has acquired Virginia-based graphic design and marketing agency Kensington Creative Worldwide for an undisclosed sum. Status: Closed - US MEDCO AGREES TO TAKE OVER UBC FOR USD730M US Medco Health Solutions Inc (NYSE:MHS) has agreed to take over local scientific and medical affairs organisation United BioSource Corporation (UBC) for about USD730m (EUR568m) in cash. Status: Agreed - TEREX SIGNS MATERIALS PROCESSING EQUIPMENT JV IN CHINA US industrial equipment producer Terex Corp (NYSE:TEX) has inked a joint venture deal with Fujian South Highway Machinery Company (NFLG) to manufacture mobile materials processing equipment in Quanzhou, China. Status: Agreed - TEREX ANNOUNCES ACQUISITION IN CHINA US industrial equipment maker Terex Corporation (NYSE:TEX) has agreed to acquire 65% of Chinese privately-held crawler cranes manufacturer Shandong Topower Heavy Machinery Company to boost its business in China. Status: Agreed - PACTIV AGREES ON USD6BN TAKEOVER BY REYNOLDS US consumer and food packaging products company Pactiv (NYSE:PTV) has agreed to be acquired by Chicago-based peer Reynolds Group, part of New Zealand's Rank, for USD6bn (EUR4.7bn). Status: Agreed - POTASH CORP RECEIVES AND REJECTS USD38.6BN TAKEOVER BID FROM BHP Canadian potash miner Potash Corp of Saskatchewan (TSE:POT) has received a USD38.56bn (EUR29.9bn) takeover offer from Anglo-Australian miner BHP Billiton (LON:BLT) (ASX:BHP) and rejected it as "grossly inadequate". Status: Bidding - DUTCH REFRESCO TO BUY GERMAN SOFT DRINKS INTERNATIONAL Dutch soft drinks producer Refresco said it has agreed to buy German Soft Drinks International, or SDI, without providing financial details. Status: Agreed - HINDUSTAN PETROLEUM MULLS BIDDING FOR SHELL'S AFRICAN RETAIL BUSINESS India's state-owned oil refinery Hindustan Petroleum Corp (BOM:500104) is considering the acquisition of the fuel retail business of Anglo-Dutch oil and gas group Shell (LON:RDSA) (AMS:RDSA) in Africa. Status: Bidding - US SUMMIT MATERIALS BUYS KILGORE PAVING, HARPER'S CONCRETE UNIT US construction materials company Summit Materials has acquired the aggregates, ready-mix concrete and construction business of sector player Harper Companies as well as asphalt and paving company Kilgore Paving and Maintenance. Status: Closed - US INGENIX BUYS HEALTH INFORMATION EXCHANGE FIRM AXOLOTL US healthcare IT company Ingenix has agreed to acquire Axolotl, a health information exchange (HIE) firm, to boost its healthcare community connectivity operations. Status: Agreed - PGE PLACES HIGHEST OFFER FOR POLISH ENERGA Polish utility PGE (WAR:PGE) has submitted the highest bid for the acquisition of an 83% interest in smaller peer Energa. Status: Bidding - SALE OF US VISION ENVELOPE COMPLETED VR Mergers & Acquisitions Charlotte has finalised the sale of US envelope printing firm Vision Envelope to Mark Zerona for an undisclosed sum. Status: Closed - SEVERSTAL GOLD RAISES STAKE IN HIGH RIVER GOLD Russian gold miner Severstal Gold has raised its stake in Canadian peer High River Gold Mines (TSE:HRG) to 70.38% from 68.90%. Status: Closed - INDIAN YBRANT DIGITAL TO BUY LYCOS FOR USD36M Indian digital marketing solutions firm Ybrant Digital said it had signed an agreement to take over US provider of Internet properties and services Lycos Inc for USD36m (EUR27.9m) from South Korean Daum Communications (KDQ:035720). Status: Agreed - UK RESOLUTION MULLS OVER FURTHER ACQUISITIONS UK insurance investment vehicle Resolution (LON:RSL) envisages more takeovers after posting profit figures for the first half of the year. Status: Bidding - US PET AIRWAYS BECOMES SUBSIDIARY OF AMERICAN ANTIQUITIES US pets transportation airline Pet Airways Inc said it had been taken over by American Antiquities Inc (OTC:AAQS) in a share exchange transaction. Status: Closed - GERMAN IFA SYSTEMS TO BUY US INOVEON German Ifa Systems (ETR:IS8), an IT provider for the eye care industry, has signed a letter of intent to acquire US eye care medical firm Inoveon to expand its diabetic eye care business. Status: Exclusivity - DET NORSKE SELLS 20% IN PL 440S TO UK FAROE PETROLEUM Norwegian oil group Det norske oljeselskap (OSL:DETNOR) has offloaded 20% in production licence (PL) 440S (Clapton) in the North Sea to British sector player Faroe Petroleum (LON:FPM). Status: Agreed - US ALVOGEN IN TALKS TO BUY 19.3% OF BOSNALIJEK US drug maker Alvogen is finalising negotiations to buy the 19.26% stake of Bosnia's government in local sector player Bosnalijek (SAJ:BSNLR) as it aims to become one of the top ten pharmaceutical producers worldwide. Status: Talks - VIMPELCOM NEARS DEAL TO BUY SAWIRIS' WEATHER INVESTMENTS Russian telecom group Vimpelcom (RTD:VIMP) is on track to sign a term sheet to buy Weather Investments, the holding company of Egyptian mogul Naguib Sawiris. Status: Exclusivity - SWEDBANK REPORTEDLY CLOSE TO FULL CONTROL OF FIRST SECURITIES Swedbank (STO:SWEDA) is likely to buy out the residual 49% of Norwegian stock broker First Securities from the company's employees. Status: Speculation - MISSION NEWENERGY ENDS TALKS WITH D1 OILS ON SHAREHOLDER OPPOSITION Australian renewable energy group Mission NewEnergy (ASX:MBT) has terminated talks over a potential takeover offer for British biofuels company D1 Oils (LON:DOO) as one of the latter's major shareholders, Principle Capital, had opposed the deal. Status: Terminated - US AQUAMER PURCHASES URBAN AGRICULTURAL US Aquamer Medical Corp (OTC:AQUM) said it had bought 100% in local privately-owned Urban Agricultural Corp in exchange for some 60m ordinary shares. Status: Closed - SWEDISH SIGMA TO BUY CYPOINT GROUP FOR EUR18.5M Swedish IT consultancy Sigma AB (STO:SIGM B) announced an agreement to acquire sector firm Cypoint Group AB for SEK175m (USD23.8m/EUR18.5m) in cash. Status: Agreed - BNP PARIBAS REPORTEDLY PLANS BID FOR DEUTSCHE BANK'S BHF-BANK French banking giant BNP Paribas (EPA:BNP) could be willing to acquire BHF-Bank, part of Deutsche Bank (ETR:DBK). Status: Speculation - IBERDROLA RENOVABLES, NEOENERGIA TO JOIN FORCES IN WIND POWER GENERATION Spanish renewable energy firm Iberdrola Renovables (MCE:IBR) has signed a memorandum of understanding with its 39%-owned Brazilian unit Neoenergia to develop onshore and offshore wind energy projects in Brazil via a 50/50 joint venture. Status: Exclusivity - EVONIK ALLOCATES EUR1BN FOR CHEMICAL SECTOR BUYS German conglomerate Evonik has EUR1bn (USD1.3bn) in cash available for acquisitions in the chemicals sector. Status: Bidding - SANTANDER RESTARTS TALKS TO COMBINE US BUSINESS WITH M&T BANK Spanish banking group Banco Santander (MCE:SAN) has resumed talks to combine its US operations with New York's regional lender M&T Bank Corp (NYSE:MTB). Status: Talks - USANA HEALTH SCIENCES BUYS CHINESE BABYCARE US nutritional and personal care products manufacturer Usana Health Sciences (NASDAQ:USNA) announced the acquisition of Chinese privately-held sector firm Babycare and its parent company Pet Lane. Status: Closed - NEW ZEALAND RANK NEGOTIATES TO BUY US PACTIV New Zealand foil and food containers maker Rank is in advanced talks to buy US consumer and food packaging products company Pactiv (NYSE:PTV). Status: Talks - LEONARD GREEN & PARTNERS TO BUY PROSPECT MEDICAL FOR USD363M Private-equity firm Leonard Green & Partners has agreed to buy US healthcare and physician services provider Prospect Medical Holdings Inc (NASDAQ:PZZ) for some USD363m (EUR282.3m) in cash. Status: Agreed - SAIC CLOSES REVEAL IMAGING ACQUISITION US defence and security solutions specialist SAIC (NYSE:SAI) announced the completion of the acquisition of US Reveal Imaging Technologies, a provider of threat detection technology and services. Status: Closed - LB FOSTER EXTENDS TENDER OFFER FOR PORTEC RAIL PRODUCTS US industrial group LB Foster Company (NASDAQ:FSTR) said it had decided to extend again its tender offer for US manufacturer of rail products Portec Rail Products to 30 August. Status: Bidding - HINDUSTAN PETROLEUM MULLS BIDDING FOR SHELL'S AFRICAN RETAIL BUSINESS India's state-owned oil refinery Hindustan Petroleum Corp (BOM:500104) is considering the acquisition of the fuel retail business of Anglo-Dutch oil and gas group Shell (LON:RDSA) (AMS:RDSA) in Africa. Status: Bidding - 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 - 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 - 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 - 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 - 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 - 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 - 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 - 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 - 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 [email protected])) (c) 2010 M2 COMMUNICATIONS |