M&A Navigator: Deal pipeline - 6 July
(M&A Navigator Via Acquire Media NewsEdge) The following is a list of deals covered in detail by M&A Navigator this week:
- BOOZ & CO ENDS MERGER TALKS WITH AT KEARNEY
US business consultancy Booz & Company and management consulting firm AT Kearney on Tuesday said they have terminated negotiations over a potential merger.
- AXA PE OFFLOADS STAKE IN TRECOBAT TO MANAGERS
Axa Private Equity, the buyout arm of French insurer AXA (EPA:AXA), said it would sell its 46.5% interest in construction group Trecobat to the company's management.
- US WORLDVEST IN LOI TO BUY CHILE INVERSIONES DE MINERALES
US WorldVest (OTC:WOVT), doing business as WorldVest Hurricane Resources, said it had entered into a letter of intent to take over Chile Inversiones de Minerales (CIM), a mineral investor and miner in Chile.
- US BARD FINALISES SENORX DEAL
US medical technologies specialist C. R. Bard (NYSE:BCR), or Bard, said it had completed the acquisition of breast cancer technology company SenoRx (NASDAQ:SENO).
- US 3M ANNOUNCES UK DAILYS BUY
US diversified technology company 3M (NYSE:MMM) said it had bought UK Dailys, a provider of disposable protective clothing for industrial use, for an undisclosed sum.
- PORTUGUESE AUTO SUECO BUYS VOLVO OTOMOTIV TURK FOR EUR50M
Portuguese automotive group Auto-Sueco Coimbra said it had bought Volvo Otomotiv Turk, from Volvo Construction Equipment (Volvo CE), for EUR50m (USD63m) in a move to expand in Turkey.
- US DELTEK WRAPS UP OFFER FOR DENMARK-BASED MACONOMY
US Deltek (NASDAQ:PROJ), a provider of enterprise applications software and solutions for project-focused businesses, said it had closed its takeover offer for Danish business software specialist Maconomy (CPH:MACO).
- CTS EVENTIM IN EUR145M DEAL TO BUY SEE TICKETS GERMANY/TICKET ONLINE GROUP
German ticketing and live entertainment event manager CTS Eventim (ETR:EVD) said it had agreed to buy See Tickets Germany GmbH /Ticket Online Group for EUR145m (USD183m), to further grow in Europe and add new events to its portfolio.
- US CLIFFS NATURAL RESOURCES HOLDS 52.1% IN SPIDER, EXTENDS OFFER
US miner Cliffs Natural Resources (NYSE:CLF) said it had secured 52.1% in Canadian mineral explorer Spider Resources (CVE:SPQ) under its cash CAD0.19 (USD0.2/EUR0.14) per-share offer and extended its acceptance period until 16 July.
- US CLEAN ENERGY FUELS TO TAKE OVER CANADA-BASED IMW
US Clean Energy Fuels (NASDAQ:CLNE), a supplier of natural gas fuel for vehicle fleets in the US and Canada, said it had agreed to buy Canadian IMW, a maker of natural gas fuelling compressors, for USD125m (EUR99.3m) and an earn-out.
- RUSSIAN TVEL TO SELL ITS 51% IN CHEMICAL AND METALLURGICAL PLANT ON 23 AUG FOR RUB475.6M
Russian nuclear fuel company TVEL said it will sell its 51% in the Chemical and Metallurgical Plant (RTB:HMTZP) at an auction on 23 August 2010 for a starting price of RUB475.619m (USD15.3m/EUR12.14m).
- BOSCH ALLEGEDLY PLANS TO MAKE BID FOR CENTROSOLAR
German industrial group Robert Bosch is reportedly planning to make a takeover bid for solar energy systems maker Centrosolar (ETR:C3O), traders speculated pushing the company's shares up by over 12% to EUR4.99.
- PURESPECTRUM IN MERGER TALKS WITH ULTRA-TECH LIGHTING
US lighting technology maker PureSpectrum (OTCBB:PSRU) and New Jersey-based sector player Ultra-Tech Lighting announced on they were in talks over a potential combination of the two companies.
Status: Talks; Exclusivity
- SWATCH TO TAKE OVER ASSEMBLY FIRM TANZARELLA
Swiss-based watch maker Swatch VTX:UHR) said it had signed a deal to buy Tanzarella, a specialist in the assembly of watch movements, for an undisclosed sum.
- COSAN TO SELL 25% IN LOGISTICS UNIT TO US TPG, BRAZIL'S GAVEA
Brazilian sugar and ethanol producer Cosan SA Industria e Comercio (SAO:CSAN3) said it had agreed to divest from a 25% stake in its Rumo Logistica unit to private equity companies US Texas Pacific Group (TPG) and Brazilian Gavea Investimentos for BRL400m (USD225m/EUR179m).
- AIR BERLIN UPS STAKE IN LAUDA'S NIKI TO ALMOST 50%
Germany's second-biggest airline Air Berlin (ETR:AB1) said it had raised its shareholding in Austrian budget airline Niki Luftfahrt to 49.9% by acquiring 25.9% from the Lauda private foundation.
- ABERTIS BUYOUT TO REPORTEDLY COST EUR10BN
A possible takeover of Spanish infrastructure manager Abertis (MCE:ABE) by its core owners, Criteria CaixaCorp (MCE:CRI) and builder ACS (MCE:ACS), may need EUR10bn (USD12.6bn) in financing.
- GERMANY TO START HYPO REAL PRIVATISATION IN 2013-14
Germany will kick off the privatisation of property lender Hypo Real Estate Bank (HRE) in 2013 or 2014.
- ZUMTOBEL'S FAMILY SYNDICATE RAISES STAKE IN FIRM TO ABOVE 35%
Austrian lighting products maker Zumtobel AG (WBAG:ZAG) said the Zumtobel family syndicate had raised its stake in the firm to 35.3% from 34%.
- TWO TRUST COMPANIES BUY INTO AUSTRIAN WOLFORD
Austrian luxury lingerie maker Wolford AG (WBAG:WOL) said Gibraltar-based Bartel 2006 Trust and Bartel Family Trust had purchased a total of 400,000 of the company's shares, securing an 8% stake in the voting rights.
- AF ACQUIRES ENGINEERING CONSULTANCY VPC MECHANICAL DESIGN
Swedish engineering consultant AF (STO:AF B) said it has signed a deal to buy peer VPC Mechanical Design from state-controlled utility Vattenfall for an undisclosed amount.
- RIO TINTO COMPLETES DIVESTMENT OF ALCAN PACKAGING BUSINESS
Anglo-Australian miner Rio Tinto (LON:RIO; ASX:RIO) said it has finalised the sale of its Alcan packaging business after disposing of the remaining assets, including Medical Flexibles and Alcan Beauty Packaging.
- RAIFFEISEN CAPITAL MANAGEMENT SAID INTERESTED IN SIEMENS' INNOVEST
Raiffeisen Capital Management (RCM) is said to be interested in the takeover of Innovest, the asset management subsidiary of Siemens Austria, part of German Siemens AG (ETR:SIE).
- DANISH ROCKWOOL TO BUY CSR'S ASIAN STONE WOOL INSULATION BUSINESS
Danish mineral and stone wool group Rockwool (CPH:ROCK B) announced an agreement to buy the Asian stone wool insulation activities of Australian CSR Limited (ASX:CSR) for AUD128m (USD107.6m/EUR85.7m).
- GERMAN RHEINMETALL CLOSES PURCHASE OF NORWEGIAN SIMRAD
German automotive and defence group Rheinmetall (ETR:RHM) said it has closed the purchase of 100% in Norwegian electro-optical equipment maker Simrad Optronics (OSL:SIT).
- ORIENT EXPRESS BANK SHAREHOLDERS OKAY ROSTPROMSTROYBANK BUY
The shareholders of Russian lender Orient Express Bank gave the go-ahead to the planned incorporation of sector player Rostpromstroybank, Orient Express Bank said.
- PARTYGAMING SEEKS ACQUISITION DEALS - CEO
UK online gaming company PartyGaming (LON:PRTY) is looking for takeover opportunities as it wants to play an active role in the consolidation of the sector, chief executive Jim Ryan said.
Status: Talks; Bidding
- BELGIAN REALDOLMEN BUYS T-SYSTEMS IN FRANCE
Belgian ICT solutions provider RealDolmen (EBR:REA) said it has bought French software firm T-Systems for an undisclosed sum.
- NORWAY-BASED SCANA INDUSTRIER TAKES 9.9% OF TTS GROUP FOR NOK6.3 P/S
Norwegian equipment supplier TTS Group (OSL:TTS) said it had agreed to issue 6.722 million own shares, or 9.9% of its equity, to industrial Scana Industrier (OSL:SCI) at NOK6.30 (USD0.98/EUR0.78) per share.
- RENESAS ELECTRONICS TO BUYS NOKIA'S WIRELESS MODEM BUSINESS
Japanese electronics group Renesas Electronics (TYO:6723) said it has struck a deal to acquire the wireless modem business of Finnish mobile phone maker Nokia (HEL:NOK1V) for USD200m (EUR159m).
- SPAIN PLANETA WINS EU NOD TO BUY HALF OF BOOK CLUB CIRCULO
Spain-based publishing group Planeta has won regulatory clearance from the European Union to acquire a 50% stake in book club Circulo de Lectores from German media group Bertelsmann (FRA:BTG4), the European Commission said in a statement.
- BELGIAN RECTICEL SELLS LEBED UNIT IN FRANCE
Belgian industrial foam maker Recticel SA (EBR:REC) said it has sold its French unit LeBed SAS, which makes slatted frames for beds, to French group Alsace Meubles.
- INTEGRA FORMS SEISMIC JV WITH SCHLUMBERGER
Russia-based drilling tools and equipment maker Integra Group (LON:INTE) and WesternGeco, the seismic business unit of Schlumberger (NYSE:SLB, EPA:SLB), said they have agreed to form a seismic joint venture, IG Seismic Services Limited.
- UNIT4 MANAGES TO WOO TETA SHAREHOLDERS WITH RAISED BID
Dutch software firm Unit4 (AMS:U4AGR) said over 90% of the shares in Polish sector firm Teta SA (WAR:TET) had been tendered under Unit4's sweetened takeover bid of PLN14 (USD4.26/EUR3.4) apiece.
- OPTICAL RETAILERS PEARLE EUROPE, GRANDVISION TO MERGE
Optical retailers Pearle Europe and GrandVision, owned by Dutch investment company HAL, will merge under the name GrandVision, HAL said.
- UK EXPANSYS TO BUY DSNS, PJ MEDIA FOR GBP38M
UK eXpansys (LON:XPS), a retailer of wireless devices, said it had agreed to buy Data Select Network Solutions (DSNS) and PJ Media for GBP38m (USD58m/EUR46m) in cash and stock.
- UK SPICE SAYS REVISED APPROACH BY CINVEN STILL TOO LOW
The board of UK utility services provider Spice (LON:SPI) said the new higher conditional proposal of between GBP0.62 (USD0.94/EUR0.75) and GBP0.65 per share received from investor Cinven still undervalues the company.
- PUBLICIS CEO SAYS SEEKS ACQUISITIONS IN DIGITAL AD SECTOR
French advertising group Publicis (EPA:PUB) is eyeing acquisitions in the digital advertising sector, the company's chief executive, Maurice Levy said.
- INAPA COMPLETES BUY OF BURGO'S PAPER DISTRIBUTION UNIT IN SPAIN
Portuguese paper distributor Inapa (ELI:INA) said it has closed the acquisition of the paper distribution business in Spain of Italian peer Burgo Group.
- HUNGARIAN FHB TO FINALISE ACQUISITION OF ALLIANZ UNIT BY END-SEP
Hungarian mortgage bank FHB Jelzalogbank (BDP:FHB) said it would close the acquisition Allianz Hungary, the local arm of German insurer Allianz (ETR:ALV), by the end of September.
- IT HOLDING EXTENDS DEADLINE FOR BIDS FOR FERRE UNTIL 2 AUG
The administrators of Italian luxury goods group IT Holding (BIT:ITH) said they have extended the deadline for collecting bids for IT Holding's fashion house Gianfranco Ferre until 2 August.
- DUTCH DELTA LLOYD, BINCKBANK JOIN FORCES ON PENSION MARKET
Dutch insurer Delta Lloyd (AMS:DL) and online broker BinckBank (AMS:BINCK) said they will form a joint venture in the field of collective pensions with available premium schemes.
- CARREFOUR SAID TO SELL ASIAN UNITS
French retailer Carrefour (EPA:CA) has put up for sale its units in Malaysia, Singapore and Thailand.
Status: Speculation; Auction
- ALITALIA JOINS AIR FRANCE-KLM, DELTA AIRLINES IN TRANSATLANTIC JV
Italian flag carrier Alitalia has joined forces with Franco-Dutch airline Air France-KLM (EPA:AF) and US peer Delta Air Lines (NYSE:DAL) in transatlantic flights, the airlines said.
- TPG, GOLDMAN SACHS NEGOTIATE ONTEX BUYOUT
US private equity firm TPG and the private equity arm of investment bank Goldman Sachs (NYSE:GS) are in talks to acquire Belgium-based diaper maker Ontex from UK investment firm Candover (LON:CDI) for over EUR1.2bn (USD1.5bn).
- RUSSIAN VTB IN TALKS TO BUY TRANSCREDITBANK
Russian lender VTB (MCX:VTBR) is negotiating to buy local competitor TransCreditBank (MCX:TCBN), the banking arm of state-run railway monopoly Russian Railways.
- CAIXANOVA TO SHED HOLDING IN BANCO GALLEGO
Spain-based savings bank Caixanova will be forced to offload its 50% stake in local Banco Gallego following its merger with peer Caixa Galicia.
- US ENDO PHARMA SECURES 93% IN HEALTHTRONICS
US Endo Pharmaceuticals (NASDAQ:ENDP) said it had completed its takeover offer for local urology company HealthTronics Inc (NASDAQ:HTRN) securing 93.38% in the company's stock by the expiry of the initial deadline.
- UK NCC GROUP WANTS TO MAKE FURTHER BUYS IN THE US, UK
UK IT assurance services provider NCC Group (LON:NCC) is looking to make more buys in the US and the UK in the next 12 months.
- LA CAIXA, ACS LOOKING TO TAKE FULL CONTROL OF ABERTIS
Spanish bank La Caixa and builder ACS (MCE:ACS), holding together nearly 55% of infrastructure manager Abertis (MCE:ABE), are working on a deal to take the residual Abertis stock.
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