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M&A Navigator: Deal Pipeline -- 20 Oct 2009
(M&A Navigator Via Acquire Media NewsEdge) The following is a list of deals covered in detail by M&A Navigator this week:
- ADECCO TO TAKE OVER MPS GROUP IN USD1.3BN DEAL
US staffing specialist MPS Group (NYSE:MPS) has agreed to be acquired by Swiss rival Adecco (VTX:ADEN) in a deal valued at USD1.3bn (EUR868m) in cash.
Status: Agreed
- CRYSTAL AMBER SELLS 22M JJB SHARES
UK's close-ended investment fund Crystal Amber (LON:CRS) has sold 22 million shares in sports retailer JJB Sports (LON:JJB) ahead of the retailer's GBP-100-million share offering.
Status: Closed
- MASTERFLEX DIVESTS MEDICAL KIT UNIT TO FOCUS ON CORE BUSINESS
German connector and hose systems maker Masterflex (ETR:MZX) has agreed to divest its Angiokard Medizintechnik medical kit unit as part of its strategy to dispose of non-core assets and focus on its core high-tech hose systems business.
Status: Agreed
- KPN EXTENDS TENDER OFFER FOR IBASIS UNTIL 20 NOV
Dutch telecomms and ICT group KPN (AMS:KPN) has extended its tender offer for US calling services provider iBasis (NASDAQ:IBAS) until 20 November from 23 October.
Status: Bidding
- FERROVIAL SHAREHOLDERS GREENLIGHT TIE-UP WITH CINTRA
Spanish construction and infrastructure group Ferrovial (MCE:FER) said its shareholders gave the go-ahead to its planned merger with toll road operator Cintra (MCE:CCIT).
Status: Agreed
- DEUTSCHE BANK AGREES TO BUY PARTS OF ABN AMRO
Deutsche Bank (ETR:DBK) has agreed to buy parts of Dutch state-owned lender ABN Amro's operations in the Netherlands for an undisclosed sum.
Status: Agreed
- KIRK KERKORIAN SEEKING OPTIONS TO CUT STAKE IN MGM MIRAGE
US Tracinda Corp, the investment vehicle of billionaire Kirk Kerkorian, said it is studying options to reduce its shareholding in struggling casino and hotel operator MGM Mirage (NYSE:MGM).
Status: Auction
- PORTUGAL'S COMPETITION AUTHORITY NODS TO REAL SEGUROS TAKEOVER
Portugal's antitrust regulator AdC has cleared the takeover of Real Seguros by local insurer Lusitania - Companhia de Seguros, saying the deal would not impede competition in the sector.
Status: Agreed
- YVES ROCHER SELLS SUBSIDIARIES
French cosmetics group Yves Rocher unveiled plans to divest from two of its call centre operating subsidiaries to local marketing specialist Data Base Factory.
Status: Agreed
- LONZA WITHDRAWS BID FOR CANADIAN PATHEON
Swiss chemical and bio-drug maker Lonza (VTX:LONN) has pulled out its bid for Canadian peer Patheon (TSE:PTI) following the rejection of the latter's major shareholder, US private equity firm JLL Partners.
Status: Terminated
- SHAREHOLDERS CLEAR DET NORSKE, AKER EXPLORATION TIE-UP
The shareholders' meetings of Norway's oil explorers Det norske oljeselskap (OSL:DETNOR) and Aker Exploration (OSL:AKX) has given the go-ahead to the planned tie-up of the two.
Status: Agreed
- WEINSTEIN IN BOOK JV DEAL WITH PERSEUS BOOKS GROUP
US film studio Weinstein Co has inked a book-publishing joint venture deal with publisher Perseus Books Group which will enable it to focus on its movie business and cut costs.
Status: Agreed
- SAL. OPPENHEIM, MACQUARIE NEARING DEAL
Luxembourg-based private bank Sal. Oppenheim is close to striking a deal to divest from its investment banking unit to Australian sector player Macquarie (ASX:MQG).
Status: Talks, Speculation
- SOUND OIL CONFIRMS TALKS ON POTENTIAL ACQUISITION
UK's oil and gas explorer Sound Oil (LON:SOU) has confirmed it is in talks over the potential acquisition of a private company with oil assets offshore West Africa.
Status: Talks
- QATAR HOLDING TO SHED 379M BARCLAYS SHARES
Qatar's sovereign wealth fund Qatar Holding said it would sell 379.2 million shares in UK bank Barclays (LON:BARC) through an accelerated bookbuild at an exercise price of 197.775 pence apiece.
Status: Auction
- TOTAL TO SELL 50% IN ZAMBIA REFINERY BY END-2009
French oil giant Total (EPA:FP) is planning to offload its 50% stake in Zambia's oil refinery Indeni Petroleum Refinery to the Zambian government by the end of the year.
Status: Talks
- INTESA SANPAOLO RESUMES TALKS WITH STATE STREET
Italy's banking giant Intesa Sanpaolo (BIT:ISP) has resumed negotiations with US financial group State Street Corp (NYSE:STT) over the sale of its depositary banking service.
Status: Speculation
- RATHBONE TO BUY ASSETS FROM LLOYDS BANKING GROUP
British wealth manager Rathbone Brothers (LON:RAT) has agreed to acquire part of the non-core investment management assets of Lloyds Banking Group (LON:LLOY) for up to GBP35.4m (USD58m/EUR39m).
Status: Agreed
- EVLI BANK TO TAKE OVER SWEDISH ERIK PENSER FONDER
Finnish Evli Bank has unveiled plans to buy out Sweden's fund manager Erik Penser Fonder from Urdar AB, a unit of Swedish businessman Erik Penser's Yggdrasil AB, for an undisclosed sum.
Status: Agreed
- CCM CONFIRMS SUITORS INTEREST IN TIE-UP
Spanish savings bank Caja Castilla La Mancha (CCM) has confirmed that it has attracted several possible bidders, including local savings banks, interested in a potential tie-up.
Status: Auction
- CHINA RARE EARTH INKS PHOSPHOR JV WITH SIEMENS
China Rare Earth (HKG:0769) said its unit, Silver Mile Holdings, has inked a deal to set up a phosphor joint venture with German lighting products maker Osram, a subsidiary of Siemens (ETR:SIE).
Status: Agreed
- TRADERS SAY BHP BILLITON KEEN TO BUY K+S
Traders have speculated that Anglo-Australian mineral processing group BHP Billiton (LON:BLT; ASX:BHP) is interested in buying German chemicals maker K+S (ETR:SDF).
Status: Speculation
- EDP UNLOADS SHAREHOLDING IN SONAECOM
Portuguese utility EDP-Energias de Portugal (ELI:EDPAE) has offloaded its 7% stake in telecomms operator Sonaecom (ELI:SNC) for EUR1.98 (USD2.96) per share.
Status: Closed
- FERROVIAL EXPECTS TO FINALISE GATWICK DIVESTMENT IN FEW WEEKS
Spanish transport infrastructure group Ferrovial (MCE:FER) is negotiating with more than one suitor for London's Gatwick airport and expects to close the deal within few weeks.
Status: Auction, Talks
- BOSNIAN BANKS POSTBANK BH, FIMA BANKA TO START MERGER ON 1 JAN 2010
Bosnian banks Postbank BH and FIMA Banka (SAJ:VLDBR) will begin their merger process on 1 January 2010.
Status: Agreed
- SPANISH OPEL UNIONS REJECT MAGNA'S REVISED PLAN, CALL FOR VOTE ON STRIKE ON TUE
Unions at the Opel plant in Zaragoza, northeastern Spain, have rejected the latest offer by Canadian automotive supplier Magna (TSE:MG.A) for the future of the plant and will call for vote to strike on Tuesday.
Status: Agreed
- GERMANY ASSURES GM, OPEL TRUST ITS AID WAS NOT CONDITIONAL - EC
Germany has addressed US carmaker General Motors (GM) and the trust running its German unit Opel that the EUR4.5bn (USD6.7bn) aid for Opel is not bound to Canadian Magna (TSE:MG.A) winning the tender for the auto maker.
Status: Agreed
- EBRD, KFW BUY 30% IN UKRAINIAN MEGABANK
The European Bank for Reconstruction and Development (EBRD) and German development bank KfW Entwicklungsbank have each bought a 15% stake in Ukraine's Megabank (KSE:MEGA).
Status: Closed
- CANADIAN ON4 COMMUNICATIONS AGREES TO BUY US PORTAL WWW.PETS911.COM
Canadian digital distribution products developer On4 Communications (OTC:ONCI) has inked a binding agreement to acquire US-based pet portal www.pets911.com.
Status: Agreed
- US PAPA BELLO IN LOI TO ACQUIRE PASTORE'S OF ROSEDALE
US restaurant chain Papa Bello Enterprises (PINK:PAPA) has inked a letter of intent (LoI) for the acquisition of local peer Pastore's of Rosedale.
Status: Exclusivity
- US AMERAMEX INTL IN LOI TO TIE UP WITH CROMER EQUIPMENT
Ameramex International, a US provider of heavy equipment for infrastructure construction, has inked a letter of intent (LoI) to merge with local sector firm Cromer Equipment.
Status: Exclusivity
- TATA MOTORS FULLY ACQUIRES SPANISH HISPANO CARROCERA
India's major motor vehicles manufacturer Tata Motors (BOM:500570) has fully acquired Spanish bus and coach producer Hispano Carrocera through buying the 79% in the company, it had not owned.
Status: Closed
- US KIMBERLY-CLARK TO LAUNCH TENDER OFFER FOR I-FLOW'S BUYOUT
US health and hygiene group Kimberly-Clark (NYSE:KMB) will initiate today a cash tender bid for the acquisition of all outstanding shares in local pain relief products manufacturer I-Flow (NASDAQ:IFLO).
Status: Bidding
- US AURORA CAPITAL GROUP FINALISES POREX ACQUISITION
US private equity firm Aurora Capital Group has closed the takeover of local porous plastic products maker Porex, for USD142m (EUR95m) in cash and debt.
Status: Closed
- US PLAYNETWORK CONSIDERS BUYING SECTOR PLAYER CHANNEL M
US integrated media services provider PlayNetwork has unveiled its plans to take over local in-store TV network developer Channel M.
Status: Bidding
- POLISH RESTAURANT OPERATOR SFINKS TO ACQUIRE LOCAL PIZZA CHAIN
Polish restaurant chain operator Sfinks Polska (WAR:SFS) has signed a preliminary agreement for the acquisition of local pizzeria operator Da Grasso.
Status: Agreed
- SWEDISH EQT INFRASTRUCTURE TO BUY DANISH KOMMUNEKEMI IN DKK260M DEAL
EQT Infrastructure fund, managed by Swedish private equity group EQT, has agreed to acquire Danish hazardous water management company Kommunekemi for DKK260m (USD52.3m/EUR35m).
Status: Agreed
- ITALIAN IKF SEEKS TIE-UP WITH AMBROMOBILIARE, NATALI&PARTNERS
Italian investment company IKF (BIT:IKF) is considering the acquisition of local bank Ambromobiliare and consultancy Natali&Partners Srl in a drive to unite the three businesses into a single entity.
Status: Bidding
- DUTCH RANDSTAD TO DIVEST OF CIAN UNIT
Dutch staffing company Randstad Holding (AMS:RAND) has decided to dispose of its unit Cian.
Status: Agreed
- SPANISH BEROA ACQUIRES US PEER RAMCO
Spanish industrial engineering group Beroa has bought an 80% stake in US sector player Ramco Solutions via its local arm Beroa Corp.
Status: Closed
- ITALIAN SAFILO TO SELL UP TO 49.99% TO DUTCH HAL HOLDING
Italian eyewear maker Safilo (BIT:SFL) has inked a deal with HAL Holding (AMS:HAL), under which it will sell the Dutch investor a stake in itself of between 37.23% and 49.99% for EUR240m (USD359.4m) to EUR330m.
Status: Agreed
- AVENUE CAPITAL SAID TO BE IN FINAL TALKS FOR CHINESE LANDWIND MEDICAL
Avenue Capital is nearing a deal to acquire Landwind Medical for over USD100m (EUR66.8m), after private equity firms including Bain Capital have quit bidding for the Chinese medical equipment company.
Status: Speculation, Talks
- CO-FOUNDER SELLS LARGE PART OF PARTYGAMING STAKE
Anurag Dikshit, the billionaire co-founder of PartyGaming (LON:PRTY), has divested of 75 million shares or 18% of his 28% holding in the world's leading online gambling company.
Status: Closed
- TITAN CEMENT MULLS OVER SELLING STAKE IN EGYPTIAN ARM
Greek cement producer Titan Cement (ATH:TITK) is studying an option to sell a minority stake in its Egyptian unit to an investor, seeking to add value to the business.
Status: Auction
- INVESCO ACQUIRES MORGAN STANLEY'S RETAIL ASSET MANAGEMENT ARM
US financial services firm Morgan Stanley (NYSE:MS) has struck a stock-and-cash deal with investment manager Invesco (NYSE:IVZ) for the sale of its retail asset management unit, with Van Kampen brands thrown into the package.
Status: Agreed
- GDF SUEZ SAYS CHINESE SOVEREIGN FUND WILLING TO BUY STAKE
French utility GDF Suez (EPA:GSZ) has been approached by a Chinese sovereign wealth fund willing to buy a minority stake in the company.
Status: Bidding
- MTS SAYS NO DECISION ON COMSTAR BUYOUT
Russian mobile operator Mobile TeleSystems (RTD:MTSS), or MTS, said submitting a buyout bid for fixed-line operator Comstar UTS (LON:CMST) is still uncertain and depends on the company's financial planning for 2010.
Status: Bidding
- VIVENDI'S BOARD CLEARS BID FOR BRAZILIAN GVT
The board of directors of French media and telecomms group Vivendi (EPA:VIV) gave a nod to the company to continue with the proposed acquisition of Brazilian peer GVT (SAO:GVTT3).
Status: Bidding
- KENTOR TO BUY AURUM MINING'S INTEREST IN ANDASH PROJECT
British miner investor Aurum Mining (LON:AUR) said that Australian gold explorer Kentor Gold (ASX:KGL) was planning to exercise its option to buy Aurum's stake in the Andash project for USD15m (EUR10m).
Status: Exclusivity
- EAGLE ROCK ENERGY GETS APPROACH FOR MINERALS BUSINESS
US midstream company Eagle Rock Energy Partners has received a non-binding offer from Black Stone Minerals to acquire its minerals business for USD157.5m (EUR105.5m).
Status: Bidding
- SOUTH KOREAN ARIGENE STARTS TENDER OFFER FOR US TRIMERIS
South Korean entertainment group Arigene Co (KDQ:067850) has initiated a cash tender offer to buy out Delaware-based biopharmaceuticals company Trimeris (NASDAQ:TRMS) through its wholly owned RTM Acquisition Company.
Status: Bidding
- NATIONAL EXPRESS GETS PRELIMINARY ALL-STOCK OFFER FROM STAGECOACH
British transport company National Express (LON:NEX) confirmed it had received a preliminary all-stock takeover bid from its rival Stagecoach (LON:SGC) following the withdrawal of another bidder last week.
Status: Bidding
- GE IN TALKS TO BUY VIVENDI'S STAKE IN NBC UNIVERSAL
US manufacturing giant General Electric (NYSE:GE) and French media and telecomms group Vivendi (EPA:VIV) are currently in talks over Vivendi's minority holding in entertainment company NBC Universal.
Status: Talks, Speculation
- STAGECOACH APPROACHES NATIONAL EXPRESS WITH MERGER OFFER
UK international passenger transport company Stagecoach (LON:SCG) confirmed it has contacted home sector player National Express (LON:NEX) about the terms of a potential merger.
Status: Talks
- CME NEGOTIATES CBOE TAKEOVER
US derivatives exchange CME Group (NASDAQ:CME) is negotiating the acquisition of Chicago Board Options Exchange in a deal valuing the US options market at up to USD5bn (EUR3.4bn).
Status: Talks, Speculation
- SPANISH REGULATOR TO DISPOSE OF AGRUPACIO MUTUA'S REAL ESTATE OPS, BANK STAKE
Spain's security and insurance regulator Direccion General de Seguros (DGS), which took over troubled insurer Agrupacio Mutua on Friday, will liquidate its real estate arm Amci Habitat and dispose of its 25.13% in local bank Bankpyme.
Status: Auction
- SIEMENS, NOKIA NOT LIKELY TO GET FINANCIAL INTEREST FOR NSN VENTURE
German engineering group Siemens (ETR:SIE) and Finnish mobile devices manufacturer Nokia (HEL:NOK1V) are not likely to find financial investors interested to buy their troubled telecomms gear making venture NSN, which they are looking to sell.
Status: Auction, Speculation
- P&G CALLS ON STOCKHOLDERS TO REJECT TRC CAPITAL'S BID
US consumer products firm Procter & Gamble (NYSE:PG) has advised its shareholders not to tender their shares to an unsolicited offer by Canadian M&A advisors TRC Capital Corp.
Status: Bidding
- UKRAINIAN TYCOON CLOSE TO ACQUISITION OF INSURER ROSSIYA
Ukrainian billionaire Viktor Pinchuk is nearing a deal to acquire Russian insurer Rossiya.
Status: Bidding, Speculation
- GERMAN W & W KEEN TO BUY COMMERZBANK'S BUILDING SOCIETY UNIT
German insurer Wuestenrot & Wuerttembergische (ETR:WUW), or W & W, has launched negotiations with local Commerzbank (ETR:CBK) to take over its building society arm Allianz Dresdner Bauspar (ADB).
Status: Talks, Speculation
- BRAZILIAN GVT TO MAKE DECISION ON TELEFONICA TAKEOVER BID ON 3 NOV
The board of directors of Brazilian telecomms operator GVT (SAO:GVTT3) will probably make a decision on the takeover bid of Spanish peer Telefonica (MCE:TEF) at its extraordinary meeting on 3 November.
Status: Bidding
- GERMAN SIEMENS PLANS TO SELL BUILDING COMPONENTS UNIT
German engineering group Siemens (ETR:SIE) has intentions to sell the building components unit of its industry solutions division, to focus on its strengths and competencies.
Status: Auction
((Comments on this story may be sent to tww.feedback@m2.com))
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