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M&A Navigator: Deal pipeline - 30 June(M&A Navigator Via Acquire Media NewsEdge) The following is a list a of deals covered in detail by M&A Navigator this week: - BCO HYDROCARBON TO TAKE OVER WIND TURBINE MAKER SAUER ENERGY US natural resource explorer BCO Hydrocarbon (OTCBB:BCOZ) said it has agreed to buy California-based wind turbine producer Sauer Energy. Status: Agreed - FAURECIA TO BOLSTER EUROPEAN PRESENCE WITH PLASTAL SPAIN BUY French automotive equipment supplier Faurecia (EPA:EO) said it has sealed a deal to acquire plastic exterior parts supplier Plastal Spain (Plastal SA) in a bid to further enhance its position in Europe. Status: Agreed - ODFJELL CHEMICAL TANKERS BUYS STOCK IN PARENT COMPANY Odfjell Chemical Tankers AS, part of Norwegian petrochemicals shipping company Odfjell SE (OSL:ODF), said it has purchased 500,000 shares in its owner at a price of NOK39,99 (USD6.17/EUR5.05) apiece. Status: Closed - UNIFY TO TAKE OVER DAEGIS IN USD38M CASH-AND-STOCK DEAL US development software and database provider Unify Corp (NASDAQ:UNFY) unveiled plans to acquire eDiscovery solutions specialist Daegis for USD38m (EUR31m) in cash, stock and debt to create an "industry leader". Status: Agreed - CISION ACQUIRES PRESS-RELEASE DISTRIBUTOR PIR Swedish PR software and media tools provider Cision (STO:CSN) said it has struck a deal to buy out local press release distributor Public and Investor Relations PIR Svenska AB, or PIR, for an undisclosed sum. Status: Agreed - SANOFI-AVENTIS SAID TO BE SELLING FRENCH R&D UNIT TO US COVANCE French drug maker Sanofi-Aventis (EPA:SAN) is expected to announce the divestment of its R&D arm in Porcheville, northern France, to US sector player Covance (NYSE:CVD). Status: Speculation - SANOFI-AVENTIS SAYS BUYING US TARGEGEN FOR UP TO USD560M French drugmaker Sanofi-Aventis (EPA:SAN) said it had agreed to buy US biopharmaceutical firm TargeGen for up to USD560m (EUR459m), to bolster its oncology offering. Status: Agreed - DELOITTE CHIEF EXECUTIVE SAYS ON THE HUNT FOR ACQUISITIONS The chief executive of Deloitte LLP, a unit of US accounting firm Deloitte Touche Tohmatsu, Barry Salzberg, said he is seeking to make buys to enhance the company's business. Status: Bidding - US EASTERN BANK TO TAKE OVER WAINWRIGHT FOR USD163M US Eastern Bank Corporation inked a definitive agreement to purchase local Wainwright Bank & Trust Company (NASDAQ:WAIN) for a total of USD163m (EUR133.5m) in cash. Status: Agreed - US JBT TO TAKE OVER TWO TWAILAND-BASED COMPANIES US food processing and air transportation technology company JBT Corporation (NYSE:JBT) said it had sealed an agreement to buy Thailand-based International Food Technology (IFT) and Food Audits International (FAI) for an undisclosed sum. Status: Agreed - BLACKROCK'S STAKE IN EDP FALLS BELOW 2% US investment management firm BlackRock (NYSE:BLK) has lowered its interest in EDP (ELI:EDP) to below 2%. Status: Closed - US MCCORMICK TO TAKE 26% IN INDIAN EASTERN CONDIMENTS US spices and specialty food producer McCormick & Company Incorporated (NYSE:MKC) said it had signed a deal to buy 26% in Indian sector company Eastern Condiments Private Limited for some USD35m (EUR28.7m). Status: Agreed - US HEALTHNOSTICS BUYS INTO MEDICAL PRODUCING FIRM US medical analytics firm Healthnostics Inc (PINK:HNSS) said it had started its acquisition strategy via investing in cash into an unnamed medical producing company. Status: Closed - VERSATEL OFFLOADS CABLE BUSINESS FOR EUR66M German telecom and IT firm Versatel (ETR:VTW) said it would offload its cable unit Versatel Kabel to French financial investor Chequers Capital for EUR66m (USD80.6m). Status: Agreed - INFOGROUP SHAREHOLDERS GIVE NOD TO BUYOUT BY CCMP The shareholders of US business and consumer database provider Infogroup (NASDAQ:IUSA) approved the planned USD460m (EUR375.3m) takeover by private equity firm CCMP Capital Advisors. Status: Agreed - UK HG CAPITAL TO BUY GERMAN TEUFEL FROM RIVERSIDE UK private equity firm HgCapital said it had agreed to take control of German loudspeaker systems maker Teufel from US private equity firm Riverside on behalf of clients including HgCapital Trust (LON:HGT). Status: Agreed - GREEK NBG DENIES PLANS TO SELL STAKE TO STRATEGIC INVESTOR National Bank of Greece (ATH:ETE) rejected media reports claiming it was looking to get a new strategic investor through a capital increase. Status: Denied - UK JAMES FISHER & SON DISPOSES OF STE UNIT IN NORWAY UK marine services and management solutions provider James Fisher and Sons (LON:FSJ) said it had sold its fully-owned Norwegian unit ScanTech Eiendom (STE) to property investor Dusavika Eiendomsinvest (DE), for NOK172m (USD27m/EUR22m). Status: Closed - SPAIN VERTICE 360 CONFIRMS TIE-UP DISCUSSIONS WITH LAVINIA Spanish media group Vertice 360 (MCE:VER) confirmed it is in merger talks with sector player Lavinia TC, but no definitive agreement has been reached yet. Status: Talks - FRESENIUS MEDICAL BUYS RUSSIAN KNC Germany-based kidney dialysis care provider Fresenius Medical Care (ETR:FME) said it has bought Russian sector player Kraevoy Nefrologicheskiy Centr (KNC), based in the Krasnodar region. Status: Closed - NORTHBRIDGE INDUSTRIAL OFFERS AUD16.9M FOR AUSTRALIAN TASMAN OIL TOOLS UK industrial services and rental company Northbridge Industrial Services (LON:NBI) said it plans to buy Australian oilfield rental and service company Tasman Oil Tools for AUD16.9m (USD14.4m/EUR12m). Status: Bidding - UK STRONTIUM SELLS CONTROL OF LEARNING EYE INTL UK business services firm Strontium (LON:STTM) said its fully-owned unit The Learning Eye (LEL) had sold its interest in Australian subsidiary The Learning Eye International for GBP67,800 (USD102,000/EUR83,080) cash to its director and stockholder Ian Seggar. Status: Closed - UK VANTIS SELLS VANTIS BRS TO PARTNERS UK business advisor Vantis (LON:VTS), under administration, sold its Vantis Business Recovery Services (BRS) unit to Vantis BRS partners in a management buyout deal whose price has not been disclosed. Status: Closed - US JOES HITCH, TRAILER & TRUCK BUYS THREE FIRMS US truck and accessories dealer Joes Hitch, Trailer & Truck Accessories said it had acquired A Lifetime Auto Collision, Quest Rent a Car & Sales and AllStar Towing in a move to set up a new "one-stop shop concept". Status: Closed - DIAGEO TAKES MAJORITY IN NUVO-PRODUCING JV UK premium spirits producer Diageo (LON:DGE) said it had raised its stake in its US-based London Group LLC joint venture, the producer of the NUVO pink sparkling liqueur, to about 70%. Status: Closed - KAROLINSKA DEVELOPMENT SELLS SWEDISH COGMED TO PEARSON Sweden-based Karolinska Development AB said it had decided to sell local Cogmed, a provider of working memory training products, to UK education technologies provider Pearson plc (LON:PSON). Status: Closed - US MULTI-COLOR TO TAKE OVER ITALIAN SECTOR FIRM GUIDOTTI CENTROSTAMPA US label printing company Multi-Color Corporation (NASDAQ:LABL), or MCC, said it had agreed on the takeover of Italian Guidotti CentroStampa SPA, a provider of labels for the wine, spirit and olive oil sectors, for EUR50.5m (USD61.9m). Status: Agreed - SALE OF US OWENS LAWN AND GARDEN COMPLETED VR Mergers & Acquisitions Charlotte said it had closed the sale of US lawn and garden equipment distributor Owens Lawn and Garden to Jeff and Judy Dellinger. Status: Closed - SUNDARAM TO BUY OUT TWO JVS WITH BNP PARIBAS ASSET MANAGEMENT Indian financial services firm Sundaram Finance (BOM:590071) said that its board of directors had cleared the acquisition of BNP Paribas Asset Management Co's 49.9% stakes in their joint ventures Sundaram BNP Paribas Asset Management and Sundaram BNP Paribas Trustee Co Ltd. Status: Agreed - NORTEL NETWORKS CLOSES SALE OF LG-NORTEL STAKE TO ERICSSON Canadian Nortel Networks Corporation (OTC:NRTLQ) said it had closed the divestment of its 50% plus one share stake in South Korea-based LG-Nortel to Swedish telecom-equipment maker Ericsson (STO:ERIC) for USD242m (EUR197.4m) in cash. Status: Closed - CEZ SAYS NOT BIDDING FOR POLISH PAK Czech power utility CEZ (PRG:BAACEZ) said in a statement it had not made an offer for the Polish government's 50% in utility PAK. Status: Terminated - UK RSM TENON TAKES VANTIS ADVISORY UNITS FOR GBP6.8M UK accountancy and business advisory firm RSM Tenon (LON:TNO) said it had bought certain advisory units of business services company Vantis (LON:VTS), under administration, for a total of up to GBP6.8m (USD10.2m/EUR8.3m) in cash. Status: Closed - US EL CAPITAN PRECIOUS METALS SAYS TO MERGE WITH GOLD AND MINERALS US precious metals and minerals miner El Capitan Precious Metals (OTC:ECPN) said it had agreed to tie up with peer Gold and Minerals. Status: Agreed - RUSSIAN KOPEIKA IN TAKEOVER TALKS, MULLS IPO Russian discount grocery chain Kopeika (RTC:KOPK) is working on an initial public offering (IPO) and is simultaneously holding talks with sector companies and strategic investors willing to take over the business. Status: Talks - WANHUA INDUSTRIAL GROUP TAKES STAKE IN HUNGARIAN BORSODCHEM Chinese strategic investor Wanhua Industrial Group said it has struck a deal to invest EUR140m (USD172m) in Hungarian plastic raw materials maker BorsodChem in exchange for a stake in the Hungarian firm's holding company, First Chemical Holding (FCH). Status: Agreed - SONOCO CLOSES USD120M BUY OF ASSOCIATED PACKAGING TECHNOLOGIES US packaging group Sonoco (NYSE:SON) said it has closed the acquisition of Associated Packaging Technologies (APT), a producer of crystallized polyethylene terepthalate (CPET) containers for the frozen food industry, in a USD120m (EUR98m) all-cash deal, including debt assumption. Status: Closed - US CELGENE STRIKES USD2.9BN DEAL TO BUY ABRAXIS BIOSCIENCE US biopharmaceutical company Celgene (NASDAQ:CELG) said it has signed a definitive agreement to buy biotechnology firm Abraxis BioScience (NASDAQ:ABII) for USD2.9bn (EUR), in an effort to become a top global oncology player. Status: Agreed - NEW SOUND MEDIA BUYS SOUNDTRACK CHANNEL US multimedia publisher New Sound Media announced the acquisition of Soundtrack Channel, which broadcasts music from Hollywood movies. Status: Closed - DYNCORP INTL SHAREHOLDERS OKAY BUYOUT BY CERBERUS US defence contractor DynCorp International (NYSE:DCP) said that its shareholders have given the go-ahead to the proposed takeover by New York-based private equity firm Cerberus Capital for USD1bn (EUR817m) in cash. Status: Agreed - US ARGON AGREES TO USD775M TAKEOVER OFFER FROM BOEING US systems engineering specialist Argon ST (NASDAQ:STST) said it had agreed to be taken over by Boeing (NYSE:BA) for USD34.50 (EUR632.25m) per share in cash, or a total of USD775m. Status: Agreed; Bidding - US IMAGE METRICS ANNOUNCES ACQUISITION OF CHARACTER-FX US Image Metrics (OTC:IMGX), a specialist in facial animation technology for the entertainment sector, said it had bought avatar technology firm Character-FX, for an undisclosed amount. Status: Closed - UMB TAKES OVER PRAIRIE CAPITAL MANAGEMENT US bank holding company UMB Financial Corp (NASDAQ:UMBF) said it has agreed to acquire Kansas City-based asset manager Prairie Capital Management. Status: Agreed - US COVENTRY HEALTH CARE TO BUY MHP US Coventry Health Care (NYSE:CVH) said it had entered into a definitive deal to take over MHP and its subsidiaries entirely owned by healthcare and social services provider Sisters of Mercy Health System. Status: Agreed - FRENCH HUBAU TAKING OVER SCORA French grain trader Hubau, a fully-owned unit of sugar and agricultural group Tereos, is buying local grain collector Scora, effective 1 July 2010. Status: Closed - US VERDE MEDIA IN LOI TO TAKE STAKE IN ASTRABLU MEDIA US Verde Media (OTCPK:HMIT), producing, financing and distributing films, said it had signed a letter of intent to buy a stake in film producer and distributor Astrablu Media, without giving details on the price or the stake size. Status: Exclusivity - US PUBLIC MEDIA INKS DEAL TO TAKE OVER VIDEOMATICCANADA US Public Media Works Inc (OTC:PUBM), a specialist in the production and distribution of entertainment media, said it inked a letter of intent to take over Canadian Mediamatic Ventures Inc, for an undisclosed sum. Status: Exclusivity - CHLORIDE SAYS TO DISCUSS SWEETENED BID WITH EMERSON The board of directors of British power solutions maker Chloride (LON:CHLD) said it would start talks with US technology and engineering services group Emerson Electric (NYSE:EMR) over the latter's improved USD1.5bn (EUR1.2bn) takeover offer. Status: Bidding - EMERSON HIKES BID FOR CHLORIDE TO TRUMP RIVAL SWISS OFFER US technology and engineering services group Emerson Electric (NYSE:EMR) said it has sweetened its cash offer for UK power solutions maker Chloride (LON:CHLD) to USD1.5bn (EUR1.2bn) in an effort to outbid the rival USD1.25bn offer of Swiss ABB (VTX:ABBN). Status: Bidding - ABBOTT MULLS OVER SELLING FLU VACCINE BUSINESS US drugmaker Abbott Laboratories (NYSE:ABT) is seeking to sell its flu vaccine business, which it recently bought from Belgian peer Solvay (EBR:SOLB). Status: Auction - DEXIA CEO SAYS IN NO RUSH TO SHED TURKISH INSURANCE ARM Belgium-based financial services group Dexia (EBR:DEXB) is in no hurry to dispose of its insurance unit in Turkey. Status: Auction - SUEZ ENVIRONNEMENT BIDS FOR SPANISH UTILITY AIGUES DE SABADELL French water and environmental utility Suez Environnement (EPA:SEV) said it would offer to buy 68% of Spanish sector firm Aigues de Sabadell for EUR71 (USD87.78) per share to enhance its position in the region of Catalonia. Status: Bidding - BILLIONAIRE ICAHN DECLINES TO EXTEND LIONS GATE TENDER OFFER Billionaire investor Carl Icahn said he will not extend again the tender period for Canada-based movie production studio Lions Gate Entertainment (NYSE:LGF). Status: Bidding - DEXIA IN TALKS TO SELL MAJORITY STAKE IN ISRAELI UNIT Franco-Belgian bank Dexia (EBR:DEXB) is in talks with two banks to sell its 65% stake in Dexia Israel (TLV:DXIL). Status: Speculation; Talks - RUSSIAN AKADO SHAREHOLDERS DISAGREE ON PRICE WITH POTENTIAL BUYERS Russian Renova Group and Yury Pripachkin, owners of cable TV operator Akado, have failed to reach an agreement on the price with investors looking to buy Akado. Status: Talks - SPANISH MERCAPITAL OFFERS EUR135M FOR BC PARTNERS' TEKNON Spanish investor Mercapital has offered EUR135m (USD167m) to buy private healthcare services provider Teknon from UK private equity firm BC Partners. Status: Talks - LE MONDE JOURNALISTS REJECT PRISA BID, BACK BUSINESSMEN OFFER Journalists at troubled French daily Le Monde on Friday rejected the takeover bid of Spanish media group Prisa (MCE:PRS) and voted in favour of the joint offer of French businessmen Matthieu Pigasse, Xavier Niel and Pierre Berge. Status: Auction - PRIVATE EQUITY FIRMS INTERESTED IN REED EXHIBITIONS Private equity firms have expressed interest in buying Reed Exhibitions, the events organising unit of Anglo-Dutch publisher Reed Elsevier (AMS:REN, LON:REL). Status: Talks; Speculation - MTS SHAREHOLDERS TO CONSIDER MERGING EUROTEL, DAGTELECOM UNITS The stockholders of Russian mobile operator MTS (MCX:MTSS) are planning to discuss the potential merger of the company's telecom subsidiaries, Eurotel and Dagtelecom, into the group, at their extraordinary general meeting (EGM), MTS said in a statement. Status: Talks - E.ON SAID TO PLAN SALE OF GAZPROM STAKE German power utility E.ON (ETR:EOAN) could unload its 3.5% stake valued at USD4bn (EUR3.2bn) in Russian gas giant Gazprom (MCE:GAZP). Status: Auction; Speculation - NEXT DISCUSSES SALE OF CALL CENTRE UNIT TO TELEFONICA British clothing retailer Next (LON:NXT) is negotiating to divest from its call centre unit Ventura to Spanish telecom group Telefonica (MCE:TEF) for over GBP50m (USD74m/EUR60m). Status: Talks - MA INDUSTRIES PLANS TO BUY US ALBAUGH Israeli agrochemical company MA Industries (TLV:MAIN) said it has signed a letter of intent to buy US privately-held herbicide maker Albaugh for some USD1bn (EUR809m), as part of its growth strategy. Status: Exclusivity ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |