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M&A Navigator: Deal pipeline - 3 Mar 2010
(M&A Navigator Via Acquire Media NewsEdge) The following is a list a of deals covered in detail by M&A Navigator this week:
- UK'S BOX-IT ANNOUNCES MERGER WITH HOME STORTEXT
UK document storage and record management specialist BOX-IT announced its merger with home peer Stortex.
Status: Closed
- US SOUTHWEST WATER AGREES TO BE TAKEN OVER BY INSTITUTIONAL INVESTORS FOR USD275M
US SouthWest Water Company (NASDAQ:SWWC), operating and maintaining water and wastewater infrastructure, said it had agreed to be acquired by institutional investors led by JP Morgan Asset Management and Water Asset Management for some USD275m (EUR202m) in cash.
Status: Agreed
- ING BANK SWITZERLAND MERGES INTO JULIUS BAER
ING Bank Switzerland has merged into Swiss private bank Julius Baer (SWF:BAER).
Status: Closed
- MEYER BERGMAN BUYS 50% OF LONDON MALL FROM AVIVA FOR GBP130M
UK real estate investor Meyer Bergman has taken 50% of The Bentall Centre, a mall in south-west London, for GBP130m (USD196m/EUR143.5m) from insurer Aviva's (LON:AV) asset manager arm.
Status: Closed
- FRENCH RENAULT TO SELL SOME NON-CORE ASSETS TO REPAY DEBT
French carmaker Renault (EPA:RNO) plans to dispose of some non-core assets to pay down debt, chief executive Carlos Ghosn said, adding that no decision on the specific assets to be sold has been made yet.
Status: Auction
- DOW TO SELL STYRON TO BAIN CAPITAL FOR USD1.63BN
US diversified chemical company Dow Chemical (NYSE:DOW) has signed a final agreement to sell its Styron division to an affiliate of private equity firm Bain Capital for USD1.63bn (EUR1.188).
Status: Agreed
- FRENCH GEODIS BUYS ITALIAN BERTOLA
French transport and logistics company Geodis has bought Italian logistics company Bertola.
Status: Closed
- RBS SETS 7 APRIL DEADLINE FOR WORLDPAY, BRANCHES BIDS
Royal Bank of Scotland (LON:RBS) has set 7 April as deadline for bids for its payment processing unit, WorldPay, and some 300 bank branches.
Status: Bidding
- SLOVENIAN NKBM TO BUY SERBIAN CREDY BANKA ON 5 MAR
Slovenian bank Nova Kreditna Banka Maribor (LJE:KBMR) will buy on Friday Serbia-based commercial bank Credy Banka (BEL:CYBN).
Status: Talks
- GERMAN LANXESS WANTS TO TAKE OVER FRENCH ELIOKEM
German rubber and plastics producer Lanxess (ETR:LXSG) is negotiating the acquisition of Eliokem, a synthetic rubber producer, to strengthen its top global position in the sector.
Status: Speculation
- DUTCH HEEREMA TAKES OVER 28.6% OF SPYKER
Dutch enterpreneur Pieter Heerema controls 28.6% in home sports-car maker Spyker Cars (AMS: SPYKR).
Status: Closed
- THREE FOREIGN INVESTORS EYE BUY OF FRENCH CHRISTIAN LACROIX
US company Falic, the current owner of French Christian Lacroix, has been contacted by three foreign companies, which are interested in buying the troubled fashion house.
Status: Bidding
- L'OREAL HEIRESS DENIES PLANS TO SELL STAKE
Francoise Bettencourt Meyers, heiress of a 31% stake in French cosmetics group L'Oreal (EPA:OR), has denied a report that she was looking to sell the family stake to Swiss Nestle (VTX:NESN).
Status: Denied
- BA EXPECTS TO INK MERGER DEAL WITH SPAIN'S IBERIA BY MARCH-END
British Airways (LON:BAY) plans to ink its merger agreement with Spain's airline Iberia (MCE:IBLA) by the end of the first quarter of 2010.
Status: Talks
- SKY DEUTSCHLAND BUYS BACK LOXXESS MEDIENLOGISTIK
German media group Sky Deutschland (ETR:SKYD) announced the buyback of home logistics company Loxxess Medienlogistik from sector firm Loxxess.
Status: Closed
- VMHY GROUP OFFERS TO BUY PART OF LATVIAN BANK PAREX
VMHY Group, a pool of international investors led by UK's banker Peter Hambro, said it has made an offer to the Latvian privatisation agency for acquiring part of troubled bank Parex.
Status: Bidding
- FRENCH GECINA TO SELL SPANISH ASSETS BY END-2010
French real estate investor Gecina (EPA:GFC) plans to dispose of most of its assets in Spain by the end of 2010 and will continue to sell French assets to repay some of its debt and increase cash flow.
Status: Auction
- VOLGA RESOURCES AGREES TO BUY 25% OF GEOTECH
Luxembourg-based investment fund Volga Resources has agreed to buy 25% of Geotech Oil Services, a top onshore seismic services provider in Russia and the ex-Soviet states, for an undisclosed sum.
Status: Agreed
- INDIAN HERO MOTORS, GERMAN ZF GROUP SET UP JV IN INDIA
Indian moped and scooter manufacturer Hero Motors and German car parts maker ZF-Lemforder, part of the ZF Group, announced they have set up a joint venture in India, called ZF Hero Chassis Systems Pvt Ltd.
Status: Closed
- US OWNERS NOT TO SELL UK'S FC MAN UNT BEFORE 2017
The US Glazer family, owners of UK's top premier league football club Manchester United, said that they planned to keep hold of the club until 2017, after the Red Knights group of financiers revealed a plan to take it over.
Status: Bidding
- THE ADVISORY BOARD COMPANY INKS DEAL TO BUY CONCUITY
The Advisory Board Company (Nasdaq:ABCO) has agreed to buy US Concuity, the healthcare division of Irish e-commerce vendor Trintech Group (NASDAQ:TTPA) for USD34.5m (EUR25.3m) in cash.
Status: Agreed
- GENUINE PARTS CLOSES BC BEARING PURCHASE
US car parts distributor Genuine Parts (NYSE:GPC) said its industrial parts unit, Motion Industries, has finalised the acquisition of Canadian bearing and power transmission provider BC Bearing.
Status: Closed
- FIRST KEYSTONE'S STOCKHOLDERS OKAY DEAL WITH BRYN MAWR BANK
US First Keystone Financial (NASDAQ:FKFS), the holding company of First Keystone Bank, said its shareholders have approved the merger agreement with local Bryn Mawr Bank (NASDAQ:BMTC).
Status: Agreed
- US TIX BUYS ALL ACCESS ENTERTAINMENT
US entertainment company Tix Corporation (NASDAQ:TIXC) has bought the assets of discount ticket service provider All Access Entertainment for an undisclosed price.
Status: Closed
- CF INDUSTRIES SWEETENS BID FOR TERRA TO USD47.40 P/S
US fertiliser maker CF Industries Holdings (NYSE:CF) has raised its offer to buy sector firm Terra Industries (NYSE:TRA) to USD4.7bn (EUR3.4bn), or USD47.40 per share, in an effort to top Yara International's (OSL:YAR) recent bid.
Status: Bidding
- ONE MAIN STREET INKS DEAL TO BUY LIBERTY BANK
US investment fund One Main Street announced an agreement to buy Liberty Bank of Salt Lake City, Utah.
Status: Agreed
- UK'S ASSURA SELLS 75% IN MEDICAL UNIT TO VIRGIN
UK healthcare company Assura (LON:AGR) announced it sold 75.1% in its Assura Medical unit to Virgin Healthcare, part of the Virgin Group, for GBP4m (USD6m/EUR4.4m).
Status: Closed
- THOR INDUSTRIES BUYS SJC FOR USD20M
US recreation vehicles manufacturer Thor Industries (NYSE:THO) said it acquired local privately-held ambulance maker SJC Industries for some USD20m (EUR14.7m) in cash.
Status: Closed
- WARBURG PINCUS PLANS TO BUY PRIMERICA SHARES FOR USD230M
US private equity firm Warburg Pincus intends to buy ordinary shares in Citigroup's life insurance unit Primerica for USD230m (EUR168.7m) as part of the unit's initial public offering (IPO).
Status: Bidding
- ELLIOTT ASSOCIATES MAKES BUYOUT BID FOR NOVELL
New York-based private-equity firm Elliott Associates has made an offer to buy the remaining 91.5% it does not already own in home enterprise software company Novell (NASDAQ:NOVL) at a price of USD5.75 (EUR4.22) per share in cash.
Status: Bidding
- FRENCH GROUPE GLON TAKES OVER PORCGROS
French diversified holding Groupe Glon SA has bought home pork meat company Porcgros.
Status: Closed
- AUSTRALIAN COFFEY BUYS GJS, LIBRA ADVISORY
Australian consulting service provider Coffey International (ASX:COF) has bought sector players Global Justice Systems (GJS), based in Australia and the UK, and British Libra Advisory Group.
Status: Closed
- NORWEGIAN NERGARD PUT UP FOR SALE
Norwegian family-owned seafood group Nergard AS is on the look-out for buyers.
Status: Auction
- AUSTRALIAN WESTERN AREAS LOOKING FOR JV PARTNER IN FINLAND
Australian miner Western Areas NL (ASX:WSA) said it is on the look-out for a joint venture partner in Finland for six exploration projects in the central part of the country.
Status: Talks
- SPANISH CAIXA PENEDES INCREASES MIQUEL Y COSTAS STAKE TO 17.94%
Spanish savings bank Caixa Penedes has boosted its shareholding in paper company Miquel y Costas (MCE:MCM) to 17.94% from 14.31%.
Status: Closed
- US EXACTTARGET BUYS COTWEET
US email and one-to-one marketing provider ExactTarget said it has bought San Francisco-based company CoTweet for an undisclosed price.
Status: Closed
- US TELEDYNE BUYS MINORITY INTEREST IN OPTICAL ALCHEMY
US electronic components provider Teledyne Technologies Incorporated (NYSE:TDY) has bought a minority interest in ultra-light electro optical gimbal system maker Optical Alchemy.
Status: Closed
- CARE UK RECEIVES GBP281M CASH OFFER FROM BRIDGEPOINT
UK social and healthcare solutions provider Care UK (LON:CUK) announced that it has received a takeover offer of some GBP281m (USD422.3m/EUR310.14m) in cash from private equity firm Bridgepoint.
Status: Bidding
- US BLACKROCK UPS STAKE IN FINNISH METSO TO 5.03%
US investment manager BlackRock (NYSE:BLK) has raised its stake in Finnish engineering and technology company Metso (HEL:MEO1V) to 5.03%.
Status: Closed
- I'M SGPS UPS PORTUGUESE MARTIFER STAKE TO 41.62%
Portuguese investment firm I'M SGPS has increased its stake in diversified holding group Martifer (ELI:MAR) to 41.62% of the share capital and voting rights.
Status: Closed
- US PFIZER SAID TO UNVEIL SOON USD4BN BID FOR GERMAN RATIOPHARM
US biopharmaceutical company Pfizer (NYSE:PFE) is said to announce this week an about USD4bn (EUR2.9bn) offer for German generic drug maker Ratiopharm, re-joining the battle with Israel's drug maker Teva (TLV:TEVA) and Iceland's Actavis.
Status: Speculation; Bidding
- TATA STEEL'S CORUS SELLS CINDU CHEMICALS STAKE TO US KOPPERS
UK-based steel maker Corus Group, the European unit of Indian steel group Tata Steel (BOM:500470), has sold its interest in Cindu Chemicals BV, a joint venture running a Dutch tar distillation site, for an unrevealed amount.
Status: Closed
- TREEHOUSE FOODS WRAPS UP STURM FOODS TAKEOVER
US specialty food maker TreeHouse Foods (NYSE:THS) announced the completion of the takeover of health food products maker Sturm Foods from private equity firm HM Capital Partners for USD660m (EUR484m).
Status: Closed
- NUCOR STRIKES JV DEAL WITH MITSUI
US steel company Nucor Corporation (NYSE:NUE) has signed an agreement with Mitsui & Co (U.S.A.) to create a 50/50 joint venture that will operate as NuMit LLC.
Status: Agreed
- INTER RAO ASKS REGULATOR TO OKAY TGK-11 BUYOUT
Russian utility Inter RAO UES (MCX:IRAO) said it has filed a request with the Federal Service for Financial Markets to approve its planned buyout of regional power producer TGK-11 (RTD:TGKK).
Status: Bidding
- RELIANCE MAY SEEK CANADIAN ACQUISITION IF LYONDELLBASELL DEAL FAILS
Indian energy giant Reliance Industries (BOM:500325) may be interested in buying Canada's Value Creation, which holds oil sands assets, for USD2bn (EUR1.5bn) if the planned takeover of bankrupt Dutch petrochemicals company LyondellBasel fails.
Status: Speculation
- CHANGI AIRPORT WANTS TO FURTHER INCREASE STAKE IN ITALIAN GEMINA
Singapore's Changi Airport Group wants to boost further its shareholding in Rome airports operator Gemina (BIT:GEM).
Status: Speculation; Bidding
- TELEKOM AUSTRIA EYEING VELCOM BUYOUT BY YEAR'S END
Telekom Austria (WBAG:TKA) plans to acquire the residual 30% of its Belarussian subsidiary Velcom by the end of the year.
Status: Speculation
- GERMAN E.ON MULLS OVER SELLING US UTILITY UNIT
German power and gas company E.ON (ETR:EOAN) is seeking to sell its US regulated utility unit E.ON U.S.
Status: Auction; Speculation
- CANON HOLDS OVER 71% IN DUTCH OCE
Japan's imaging equipment maker Canon (TYO:7751) holds over 71% of the ordinary shares in Dutch photocopier and printer maker Oce (AMS:OCE).
Status: Bidding
- UK BP, US LEWIS ENERGY TO ENTER SHALE GAS JV DEAL
UK oil giant BP (LON:BP) and US sector player Lewis Energy will soon sign a USD200m (EUR147.8m) joint venture deal in Texas.
Status: Talks
- CYPROTEX SAYS RECEIVES UNSOLICITED OFFER APPROACH
British drug research services company Cyprotex (LON:CRX) said it has received a preliminary and unsolicited offer approach.
Status: Bidding
- GERMAN AAREAL BANK CONSIDERS BUYING WESTLB MORTGAGE UNIT
German mortgage bank Aareal Bank (ETR:ARL) is planning to buy the mortgage banking unit of wholesale bank WestLB, Westdeutsche Immobilienbank (Westimmo).
Status: Bidding; Speculation
- BELGIAN ARSEUS PURSUES ACQUISITIONS
Belgian health products wholesaler Arseus (EBR:RCUS) said it expects to make a number of further acquisitions this year.
Status: Bidding
- CONSORT MEDICAL SAYS COULD MAKE OFFER FOR AMS
British healthcare company Consort Medical (LON:CSRT) said it could make a takeover offer for woundcare specialist Advanced Medical Solutions Group (LON:AMS) as part of its corporate development strategy.
Status: Bidding
- CEO SAYS SAS WILL PREPARE FOR SALE TO RIVAL
Swedish airline SAS (STO:SAS) will be sold to a competitor after it recovers from the current crisis.
Status: Auction
- ING MAY EXTEND INSURANCE OPS DIVESTMENT BEYOND 2013
Dutch bancassurer ING (AMS:INGA) said it may be able to get an extension from the European Union (EU) on its 2013 deadline for disposing of its global insurance operations if it agreed to sell at least 30% of the assets via an initial public offering.
Status: Auction
- UK SPORTS DIRECT CONFIRMS POTENTIAL CASH OFFER FOR BLACKS LEISURE
UK sports and leisure clothing retailer Sports Direct (LON:SPD) confirmed that it was considering a potential cash offer for home rival Blacks Leisure (LON:BSLA), but gave no guarantees that a bid will be ultimately placed.
Status: Bidding
- IRISH KINGSPAN EYES ACQUISITIONS IN EUROPE, NORTH AMERICA
Irish insulation solutions specialist Kingspan (ISE:KSP) plans to make a large-scale sector acquisition or a few small ones in the next 12 months.
Status: Bidding
- GERMAN CELESIO MAY BE TARGETED BY HEALTHCARE COS
German drug distributor Celesio (ETR:CLS1) may become a takeover target of US pharmaceuticals traders and healthcare companies, Reuters reported on Tuesday, citing analysts.
Status: Speculation
- SPANISH FCC TO SELL VEHICLE INSPECTION OPS
Spanish builder and environmental services provider FCC (MCE:FCC) is looking to sell its vehicle inspection unit to concentrate on core operations.
Status: Speculation; Auction
- LONDON FINANCIERS PLAN GBP1BN BID FOR FC MANCHESTER UNITED A group of London-based financial investors, calling themselves the Red Knights, are preparing a GBP1bn (USD1.5bn/EUR1.1bn) takeover bid for UK's top premier league football club Manchester United.
Status: Bidding; Speculation
- NEW ZEALAND'S VICTOR CATTERMOLE STILL INTERESTED IN BUYING UK'S FC PORTSMOUTH
Victor Cattermole, a New Zealand businessman, said he was still looking to buy indebted UK football club Portsmouth, which entered administration last week.
Status: Bidding
- SWEDISH AUTOLIV TO MAKE USD50M BUY OUT BID FOR ESTONIAN UNIT
Swedish airbags and seat-belt maker Autoliv (NYSE:ALV, STO:ALIV SDB) said it will launch a USD50m (EUR36.9m) takeover cash bid for all outstanding shares of Estonian subsidiary AS Norma (TAL:NRM1T) it does not own.
Status: Bidding
- UK INSURER AMLIN PLANS BIG ACQUISITIONS IN H2 - CEO
UK insurer Amlin (LON:AML) will seek larger buys in the second half of 2010 in continental Europe, the UK and USA, chief executive, Charles Philipps, said.
Status: Bidding
- GREECE APPROVES ADM'S PLAN TO TAKE CONTROL OF HELLENIC SHIPYARDS
The Greek government approved a plan by shipbuilding group Abu Dhabi Mar (ADM) to buy a controlling stake in Hellenic Shipyards (HSY) in Skaramangas.
Status: Exclusivity
- KGHM'S CHIEF SAYS LOCAL POLKOMTEL HOLDERS UNLIKELY TO SELL STAKES IN 2010
The CEO of Polish copper producer KGHM (WAR:KGHM), Herbert Wirth, told reporters that he does not expect local owners of mobile operator Polkomtel to sell their interests in the company this year.
Status: Delayed
- ASTELLAS PHARMA TO LAUNCH BID FOR OSI PHARMACEUTICALS
Japanese pharmaceutical company Astellas Pharma (TYO:4503) will start on 2 March 2010 a tender offer to buy all outstanding shares of US sector firm OSI Pharmaceuticals (NASDAQ:OSIP) for USD52.00 (EUR38.40) a piece in cash, or total USD3.5bn.
Status: Bidding
- SPAIN'S CESAR LOSADA BUYS EUR50M HOTEL IN MADRID FROM METROVACESA
Spanish businessman Cesar Losada is buying the four-star hotel Husa Paseo del Arte in Madrid from real estate firm Metrovacesa (MCE:MVC) for EUR50m (USD68m).
Status: Speculation
- GERMAN MANROLAND WANTS TO BUY SWISS WIFAG
Manroland Druckmaschinen, a German printing machines maker, said it was in talks over the acquisition of troubled Swiss newspaper printing solutions specialist Wifag.
Status: Talks
- PEET'S COFFEE EXTENDS OFFER FOR DIEDRICH UNTIL 2 APRIL
US coffee roaster Peet's Coffee & Tea (NASDAQ:PEET) said it has extended the deadline of its bid to acquire peer Diedrich Coffee (NASDAQ:DDRX) for USD26 (EUR19.09) per share in cash and stock until 2 April.
Status: Bidding
- SHELL TO SELL NON-CORE ASSETS
Oil and gas giant Royal Dutch Shell (LON:RDSA) has launched a divestment campaign, under which it plans to sell non-core assets, hoping to generate between USD2bn (EUR1.47bn) and USD3bn.
Status: Auction
- DUTCH CAMPINA CONSIDERS BUY OF EBRO PULEVA'S DAIRY ARM
Dutch dairy firm FrieslandCampina is considering the buy of Puleva Food, the dairy unit of Spanish food group Ebro Puleva (MCE:EVA).
Status: Speculation
- NORWEGIAN GC RIEBER SHIPPING MAY MERGE WITH MAJORITY OWNER
Norwegian company GC Rieber Shipping AS (OSL:RISH) said that its majority shareholder GC Rieber has proposed to tie up the two companies.
Status: Talks
- ITALIAN COSMO SAYS HAS 98.96% OF BIOXELL
Italy-based drug maker Cosmo Pharmaceuticals (SWF:COPN) said it holds 98.96% of peer Bioxell (SWF:BXLN), following the expiration of the additional acceptance period on 26 February.
Status: Bidding
- HUNGARIAN MAGYAR TELEKOM IN TALKS TO BUY SIVECO ROMANIA
Hungarian company Magyar Telekom (BDP:MTELEKOM), majority controlled by Deutsche Telekom (FRA:DTE), is in discussions to acquire IT firm Siveco Romania, in a move to broaden its service portfolio.
Status: Talks; Speculation
- TPG SAID TO BE FRONT-RUNNER IN STYRON'S AUCTION
US private-equity firm TPG is said to head the race for the acquisition of plastic synthetic resins maker Styron Corp, a unit of US chemicals giant Dow Chemical (NYSE:DOW).
Status: Bidding; Auction
- GDF SUEZ TO INK DEAL ON NORD STREAM STAKE TODAY
French power and gas utility GDF Suez (EPA:GSZ) will ink a deal with Russian gas group Gazprom (MCX:GAZP) today to join the Nord Stream pipeline project through the acquisition of a 9% stake.
Status: Agreed; Speculation
- EDF EXPECTS FIRST-ROUND OFFERS FOR UK POWER DISTRIBUTION OPS BY MID-MARCH
French power utility Electricite de France (EPA:EDF) expects first-round bids for its UK power distribution unit by mid-March.
Status: Speculation
- KGHM NEARS DEAL TO BUY STAKE IN CANADIAN CO
Polish copper producer KGHM (WAR:KGHM) is nearing a deal to acquire a stake in a Canadian company which operates copper deposits, KGHM's chief executive Herbert Wirth said.
Status: Talks
((Comments on this story may be sent to tww.feedback@m2.com))
(c) 2010 M2 COMMUNICATIONS
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