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M&A Navigator: Deal pipeline - 5 November(M&A Navigator Via Acquire Media NewsEdge) The following is a list of deals covered in detail by M&A Navigator this week: - AXEL SPRINGER'S OFFER FOR SELOGER.COM GETS OK FROM FRENCH ANTITRUST AUTHORITY German media company Axel Springer (ETR:SPR) said it has received the green light from the French Antitrust Authority for its USD34 (EUR24.1) per share public offer to buy the outstanding 87.6% in real estate online portal SeLoger.com (EPA:SLG). Status: Bidding - SWEDISH HIQ BUYS FRENDS IN FINLAND FOR EUR3.5M Swedish IT firm Hiq International (STO:HIQ) said it has agreed to acquire Finnish IT consultancy Frends Technology for EUR3.5m (USD4.9m) in an effort to expand its activities in the region. Status: Agreed - DANISH NKT HOLDINGS UNIT BUYS OUTDOOR CLEANING EQUIPMENT MAKER EGHOLM Danish NKT Holdings (CPH:NKT) said its professional cleaning equipment unit Nilfisk-Advance has bought local sector player Egholm to boost its offerings in the outdoor cleaning market. Status: Closed - HSBC SELLS TRAIN LEASING ARM EVERSHOLT FOR GBP2.1BN UK bank HSBC Holdings (LON:HSBA) has reached a deal to sell its train leasing business, Eversholt, to a consortium of investors including 3i Infrastructure (LON:3IN), Star Capital Partners and Morgan Stanley (NYSE:MS) for GBP2.1bn (USD3.4bn/EUR2.4bn). Status: Agreed - US NRG ENERGY FINALISES USD350M TAKEOVER OF GREEN MOUNTAIN ENERGY US utility NRG Energy (NYSE:NRG) said it has closed its USD350m (EUR248.7m) cash acquisition of clean energy products and services firm Green Mountain Energy. Status: Closed - GE HEALTHCARE TODAY STARTS USD570M TENDER OFFER TO BUY CLARIENT GE Healthcare, the healthcare equipment manufacturing unit of US General Electric (NYSE:GE), said it will begin its USD570m (EUR403m) cash tender offer for the acquisition of local oncology diagnostic services firm Clarient (NASDAQ:CLRT), to run until 6 December 2010. Status: Agreed - FINNISH VALMET TO BUY INSOLVENT GERMAN KARMANN'S ROOF BUSINESS Finnish automotive engineering and manufacturing company Valmet Automotive Oy said it has agreed to buy the car roof business of bankrupt German car parts supplier Karmann. Status: Agreed - US WTP ADVISORS PURCHASES SPECIALISED TAX CONSULTANCY IPA US tax and business advisory WTP Advisors said it had taken over Utah-located specialised tax consultancy Interest and Penalty Advisors LLC, or IPA, without revealing the deal price. Status: Closed - UK FENNER TO BUY AUSTRALIAN MINING BUSINESSES BBV FOR AUD63.95M UK Fenner (LON:FENR), a producer and distributor of conveyor belts and precision polymer products, said it had agreed to buy Australian mining services firms Belle Banne (Victoria) Pty Ltd and Leading Edge Conveyor Solutions Pty Ltd, together BBV, for AUD63.95m (USD65m/EUR46m), subject to profit growth. Status: Agreed - UK LION CAPITAL TO TAKE OVER US SEAFOOD COMPANY BUMBLE BEE UK investor Lion Capital said it had agreed to buy US packaged seafood company Bumble Bee Foods, from US private equity firm Centre Partners, for an undisclosed sum. Status: Agreed - US BROADBAND HOME MANAGEMENT FIRMS ANNOUNCE MERGER US broadband home management companies iControl Networks and uControl said they had agreed to merge without providing details on the transaction volume. Status: Agreed - SPHERE REJECTS COUNTER BID FROM LARGEST SHAREHOLDER Australian iron ore miner Sphere Minerals (ASX:SPH) rejected a takeover bid from its biggest shareholder, Chinese Sin-Tang Development, which had submitted a counter offer to the bid of British miner Xstrata (LON:XTA). Status: Bidding - CIDRON SAYS SEK77 P/S TAKEOVER OFFER FOR MUNTERS COMPLETED, OWNS 97.6% Cidron Intressenter, a company owned by private equity fund Nordic Capital VII Limited, said it has completed its takeover offer for Swedish air treatment products maker Munters (STO:MTRS) at SEK77 (USD11.70/EUR8.30) per share, after securing 97.6% in the company and receiving remaining regulatory clearance by 4 November. Status: Agreed - US RENAL ADVANTAGE, LIBERTY DIALYSIS REVEAL MERGER US dialysis services providers Renal Advantage and Liberty Dialysis said they have agreed to merge, in a move to form the third biggest sector player in the country. Status: Agreed - GRIFOLS WINS SPANISH REGULATORY APPROVAL TO BUY US TALECRIS Spanish competition regulator CNC has cleared the takeover of US bio-pharmaceuticals producer Talecris Biotherapeutics (NASDAQ:TLCR) by Spanish sector player Grifols (MCE:GRF). Status: Agreed - US RAYTHEON TAKES OVER CYBERSECURITY SPECIALIST TCS US defence group Raytheon Company (NYSE:RTN) said it had taken over Trusted Computer Solutions (TCS), a provider of cross-domain, operating system and network security solutions, for an undisclosed sum. Status: Closed - EBRD SELLS 8.82% IN ESTONIAN TALLINNA VESI TO UK UNITED UTILITIES Estonian water utility Tallinna Vesi (TAL:TVEAT) said that the European Bank for Reconstruction and Development (EBRD) sold its 8.82% indirect stake in the company to UK United Utilities (LON:UU) and exited the company’s capital. Status: Closed - US AGCO SAYS IN GBP53M DEAL TO BUY UK TRACTOR PARTS DISTRIBUTOR SPAREX US agricultural equipment maker and distributor AGCO (NYSE:AGCO) said it had struck a GBP53m (USD86m/EUR61m) agreement to buy UK-based global accessories and tractor parts distributor Sparex and its trading subsidiaries, from UK investor Rubicon Partners. Status: Agreed - US CBIZ TAKES OVER KRMT'S NON-ATTEST BUSINESS US business services provider CBIZ Inc (NYSE:CBZ) said it had bought the non-attest operations of local accounting and financial services firm Kirkland, Russ, Murphy & Tapp PA (KRMT) effective from 1 November 2010 for an undisclosed sum. Status: Closed - ACQUIRED SALES SIGNS LOI FOR COGILITY SOFTWARE ACQUISITION US acquisition-shell Acquired Sales (PINK:AQSP) said it has signed a letter of intent (LoI) to buy, through one of its subsidiaries, Cogility Software, a software developer for the US defence and intelligence communities, in a stock-swap deal. Status: Exclusivity - US BUNGE ANNOUNCES TAKEOVER OF MORRISTOWN GRAIN Bunge North America, part of US agribusiness and food specialist Bunge Limited (NYSE:BG), said it had taken over local Morristown Grain Co in a move to boost its grain and oilseed facilities. Status: Closed - US GLOBAL DEFENSE TO BUY SGS FOR USD52.5M US Global Defense Technology & Systems (NASDAQ:GTEC) said it had agreed on the acquisition of Virginia-based Signature Government Solutions LLC, or SGS, from Signature Consultants LLC for USD52.5m (EUR37m) in cash. Status: Agreed - AIR FRANCE-KLM PLANS NO MERGER WITH ALITALIA Franco-Dutch airline group Air France-KLM (EPA:AF) has no plans to merge with Italy's air carrier Alitalia, in which it holds a 25% stake, Air France-KLM CEO Pierre-Henri Gourgeon told Reuters yesterday. Status: Denied - FINNISH ELISA ANNOUNCES EUR15M BUY OF APPELSIINI FINLAND Finland-based telecommunications company Elisa (HEL:ELI1V) said it was taking over Appelsiini Finland, an IT consulting, outsourcing services and software company, for some EUR15m (USD21.3m), as it plans to expand in the ICT sector. Status: Closed - GERMAN WILEX STRIKES EUR19.2M DEAL TO BUY HEIDELBERG PHARMA German biopharmaceutical firm Wilex AG (ETR:WL6) has agreed to buy drugmaker Heidelberg Pharma in an all-stock deal worth EUR19.2m (USD27.2m). Status: Agreed - DANISH J LAURITZEN CONSIDERS SELLING, LISTING OFFSHORE UNIT Danish shipping group J Lauritzen is seeking to partially dispose of its offshore shipping arm to investment partners to help share costs and could probably list the unit on the stock market. Status: Auction - JAPAN'S SHARP CLOSES US RECURRENT ENERGY TAKEOVER Japanese electronics company Sharp Corporation (TYO:6753) announced the completion of the acquisition of US power producer and solar project developer Recurrent Energy for USD305m (EUR214.9m) in cash. Status: Closed - CARLYLE GROUP, KELSO & CO TO BUY 40% IN SANDLER O'NEILL US private equity firms Carlyle Group and Kelso & Co will buy an about 40% stake in investment bank Sandler O'Neill for some USD250m (EUR176.1m). Status: Agreed - KONECRANES BOOSTS US MTS BUSINESS WITH KING TOOL CO BUY Finnish lifting machinery and services company Konecranes (HEL:KCR1V) said it had bought US machine tool services (MTS) firm King Tool Co, without disclosing the price of the deal, in a move to boost its MTS operations in the US. Status: Closed - SKYVIEW ANNOUNCES DUTCH 3PLE-MEDIA TAKEOVER US investor Skyview Capital LLC said it had purchased Dutch multimedia research and development company 3ple-Media BV, via its portfolio firm NewNet Communication Technologies LLC. Status: Closed - CANADIAN ROGERS BUYS FURTHER STAKES IN COGECO CABLE, COGECO Canadian communications and media company Rogers Communications (TSE:RCI.B; NYSE:RCI) said it had agreed to buy a further 2.7% voting stake in cable telecom firm Cogeco Cable (TSE:CCA) and an additional 6.3% voting stake in communications company Cogeco (TSE:CGO). Status: Agreed - GENEX AGREES TO BUY INTRACORP'S WORKERS' COMPENSATION UNIT US care management services provider Genex Holdings has agreed to buy the workers' compensation and disability case management business of International Rehabilitation Associates (Intracorp). Status: Agreed - VOTER ACTIVATION, NGP SOFTWARE UNVEIL MERGER OF EQUALS US software firms Voter Activation and NGP Software announced plans to merge with effect from 31 December, creating a leading player in campaign software and technology. Status: Agreed - PANASONIC UNVEILS USD30M INVESTMENT IN US TESLA MOTORS Japanese electronics giant Panasonic (TYO:6752) said it has invested USD30m (EUR21.1m) in Tesla Motors (NASDAQ:TSLA) acquiring a minority stake in the US electric vehicle maker. Status: Closed - UNIVERSAL ELECTRONICS BUYS CHINESE ENSON FOR USD110M US Universal Electronics (NASDAQ:UEIC), or UEI, a provider of wireless control technology for the connected home, said it had bought Chinese Enson, a maker and seller of remote controls for original equipment manufacturers (OEMs), for a net price of some USD110m (EUR78m), from CG International. Status: Closed - CANADIAN FRASER PAPERS AGREES TO SELL FRASER NH UNIT Insolvent Canadian paper maker Fraser Papers (PINK:FRPPF) said it has agreed to sell its unit Fraser NH to New Jersey-based MM Consulting and Contracting Co for an undisclosed amount. Status: Agreed - FINNISH VALMET SAID TO BUY INSOLVENT GERMAN KARMANN Bankrupt German car parts supplier Karmann is set to be acquired by Finnish automotive engineering and manufacturing company Valmet Automotive Oy. Status: Speculation - MCGRAW-HILL DIVISION BUYS STARTING OUT US information services provider McGraw-Hill Companies (NYSE:MHP) said it has acquired sector firm Starting Out to boost its print and digital capabilities in career and workforce development. Status: Closed - TREDJE AP-FONDEN BUYS INTO SWEDISH CELLAVISION Swedish CellaVision (STO:CEVI), a specialist in image analysis based systems for analysis of blood and other body fluids, said that local institutional investor Tredje AP-Fonden has bought 5.9% in the company. Status: Closed - PORTUGUESE MOTA-ENGIL NEARING DEAL TO BUY 50% IN BRAZILIAN BUILDER Portuguese builder Mota-Engil (ELI:EGL) will strike soon a deal to acquire a 50% stake in a sector player based in Brazil, CEO Antonio Mota said , without revealing any name or financial details. Status: Talks - SWISS KUONI BUYS UAE-BASED GULF DUNES, REEM TOURS AND TRAVEL Swiss travel firm Kuoni Reisen (SWF:KUNN) unveiled the acquisition of Gulf Dunes, a provider of meeting, incentive, congress and event services, and Reem Tours And Travel, both based in the United Arab Emirates. Status: Agreed - AMERICAN EXPRESS TO BUY FRAUD PREVENTION SOLUTIONS FIRM ACCERTIFY FOR USD150M US American Express (NYSE:AXP), a credit payment cards and travel-related services provider, said it had agreed to buy Accertify, a provider of fraud prevention software, tools and strategies to e-commerce companies, for some USD150m (EUR106m). Status: Agreed - ENDO PHARMA WRAPS UP PENWEST TAKEOVER Endo Pharmaceuticals (NASDAQ:ENDP) has successfully completed its previously announced acquisition of Penwest Pharmaceuticals (NASDAQ:PPCO) for USD144m (EUR101.4m), Penwest said. Status: Closed - KANA SOFTWARE COMPLETES LAGAN TECHNOLOGIES TAKEOVER US Kana Software, a provider of software solutions for service experience management (SEM), said it has completed the acquisition of UK-based government-to-citizen technology firm Lagan Technologies without providing financial details. Status: Closed - BLACKSTONE MOOTS TO BUY EGG, SAV CREDIT, TO FORM UK’S TOP CREDIT CARD FIRM US private equity firm The Blackstone group (NYSE:BX) is considering to acquire UK internet bank Egg Banking, owned by US Citibank, and credit card lender SAV Credit in a bid to set up one of the largest credit card firms in the UK. Status: Bidding - POLAND’S TREASURY EXPECTED TO GREENLIGHT KULCZYK’S BID FOR ENEA The PLN11bn (USD4bn/EUR2.8bn) takeover bid of Polish tycoon Jan Kulczyk for state-run utility Enea (WAR:ENA) is expected to get the go-ahead by the country’s treasury. Status: Bidding - RUSSIA’S TRACTOR PLANTS SEEKS TO CREATE MACHINERY JV IN UZBEKISTAN Russian industrial consortium Tractor Plants (ETR:M0IG) is planning to form a joint venture in Uzbekistan to assemble agricultural and construction machinery. Status: Talks - NESTLE REPORTEDLY CONSIDERS JOINT BID FOR YOPLAIT WITH LACTALIS Swiss food group Nestle (VTX:NESN) mulls over submitting a bid for French yoghurt maker Yoplait jointly with French dairy products maker Lactalis. Status: Bidding - WAL-MART IN RACE FOR INDONESIAN HYPERMARKET BUSINESS US retailer Wal-Mart Stores (NYSE:WMT) is interested in buying the hypermarket business of Indonesian retailer Matahari (JAK:LPPF). Status: Auction, Bidding - PHOENIX GETS HIGHER TAKEOVER OFFER FROM MARLIN EQUITY PARTNERS US core systems software (CSS) provider Phoenix Technologies (NASDAQ:PTEC) said Los Angeles-based private investment firm Marlin Equity Partners had raised its takeover offer for the company to USD4.20 (EUR3) per share, or a total of USD152m. Status: Bidding - US ENSIM ANNOUNCES DEAL WITH NETCONNECT US Ensim Corporation, a specialist in user provisioning and access management software, has signed a letter of intent to be taken over by sector player Netconnect without disclosing terms of the deal. Status: Exclusivity - US BULLION MONARCH MINING IN LOI TO TAKE OVER DOURAVE US-based gold exploration company Bullion Monarch Mining (OTC:BULM) said it had inked a letter of intent (LoI) to take over gold mining and exploration firm Dourave Canada, together with its Dourave Brazil unit. Status: Exclusivity - RENAULT-NISSAN MAY CONTROL RUSSIAN AVTOVAZ WITHIN 3 YEARS The car-making alliance of French Renault (EPA:RNO) and Japanese Nissan Motor (TYO:7201) may hold a controlling stake in Russian car producer Avtovaz (MCX:AVAZ) within three years. Status: Bidding - DUTCH DSM NOT IN A HURRY WITH ACQUISITIONS Dutch chemical group Royal DSM (AMS:DSM) does not feel time pressure to quickly make acquisitions. Status: Bidding - EXEC SAYS US QUALCOMM TARGETS BUYS IN EUROPE US fabless chip supplier Qualcomm (NASDAQ:QCOM) would look into acquisition opportunities in Europe as part of its growth strategy in the region. Status: Bidding - RAMIUS EXTENDS TENDER OFFER FOR CYPRESS BIOSCIENCE Ramius Value and Opportunity Advisors, part of Ramius, unveiled an extension of its tender offer for all outstanding shares in US drug maker Cypress Bioscience (NASDAQ:CYPB) due to a tepid response from shareholders. Status: Bidding - RUSSIAN PHOSAGRO SAID TO BE PREPARING COUNTER BID FOR POTASH CORP Russian fertiliser maker Phosagro is interested in acquiring Canadian larger rival Potash (TSE:POT), currently a takeover target of Anglo-Australian BHP Billiton (ASX:BHP, LON:BLT). Status: Bidding - CITIGROUP SAID TO CONSIDER DISPOSAL OF USD570M IN INVESTMENTS US banking group Citigroup (NYSE:C) will probably dispose of some interests, worth USD570m (EUR407.1m), held in partnership with UK private equity firm CVC Capital Partners. Status: Speculation, Auction - MITSUBISHI UFJ KEEN TO BUY RBS PROJECT FINANCE BUSINESS Japan’s holding company Mitsubishi UFJ Financial Group (TYO:8306) is negotiating the acquisition of Royal Bank of Scotland’s (LON:RBS) project financing unit, aimed at further expanding the bank’s overseas operations. Status: Talks - XSTRATA SWEETENS CASH OFFER FOR AUSTRALIAN SPHERE British miner Xstrata (LON:XTA) revised up its takeover bid for Australian Sphere Minerals (ASX:SPH) to AUD3 per share from AUD2.50 per share, valuing the iron ore explorer at AUD514m (USD512.5m/EUR366m). Status: Bidding - DUTCH IMTECH SAYS TO SEEK RAPIDLY ACQUISITIONS NEXT 5 YEARS Dutch engineering group Imtech (AMS:IM) said it will actively look for small- and mid-sized acquisitions in the coming five years, in a move to add some EUR1.5bn (USD2.1bn) in revenues. Status: Bidding - CASCADE TECHNOLOGIES SIGNS LOI TO ACQUIRE US ACUNETX Canadian medical imaging device firm Cascade Technologies Corp (PINK:CSDT) said it would take control of Acunetx (PINK:ANTX) in a bid to expand its line of proprietary products under development. Status: Exclusivity -INTESA SANPAOLO SAID TO BE CONSIDERING BID FOR POLBANK Italian banking group Intesa Sanpaolo (BIT:ISP) is studying a bid for Polish lender Polbank as it aims to boost its business in eastern Europe. Status: Speculation; Bidding - CEO SAYS LLOYDS NOT LIKELY TO SELL UK RETAIL BRANCHES IN 2010 Eric Daniels, chief executive of UK banking group Lloyds (LON:LLOY), said that his bank may not be able to dispose of its local retail bank branches this year, as there is not enough time left to carry out a deal. Status: Auction - AIB STILL REVIEWING UK BUSINESS DIVESTMENT Allied Irish Banks (ISE:ALBK) said it was still studying the divestment of its UK business despite tough market conditions that had made the sale rather difficult. Status: Auction - DUTCH IHC MERWEDE SEEKS FRESH CAPITAL FOR ACQUISITIONS Dutch shipbuilder IHC Merwede is seeking fresh capital for possible acquisitions. Status: Bidding - US TRINITY SPRINGS SAYS UP FOR SALE US geothermal water bottler Trinity Springs said it would offer itself for sale in a stock, or asset sale deal. Status: Auction - INDIAN HCL, US INGRAM MICRO IN TALKS TO BUY 44% IN SONATA SOFTWARE Indian HCL and US IT products distributor Ingram Micro (NYSE:IM) are negotiating the acquisition of an about 44% stake in Indian IT firm Sonata Software (BOM:532221). Status: Talks - ALGERIA SAYS ORASCOM MUST REPAY DEBTS BEFORE DJEZZY NATIONALISATION Algeria said it would not proceed with the nationalisation of Orascom Telecom’s (CAI:ORTE) local unit Djezzy until the Egyptian telecom firm repays its liabilities to the Algerian government, casting new shadow over Orascom’s deal with Vimpelcom (NYSE:VIP). Status: Bidding - CNA FINANCIAL OFFERS TO PAY USD375M FOR REMAINING STAKE IN CNA SURETY US insurer CNA Financial Corp (NYSE:CNA) said it has offered to buy the remaining stock in CNA Surety (NYSE:SUR) it does not currently hold for nearly USD375m (EUR268.7m) in a drive to expand its specialty franchise. Status: Bidding - US EXCO RESOURCES’S CEO OFFERS TO BUY COMPANY FOR USD20.50 P/S US oil and gas firm Exco Resources (NYSE:XCO) said its chairman and chief executive, Douglas Miller, has offered to buy the remaining shares in the company that are currently not under his ownership for USD20.50 (EUR14.69) per share in cash. Status: Bidding - BOARD OF UK CHRYSALIS SAYS IN EARLY DISCUSSIONS WITH POTENTIAL BUYERS The board of UK music publisher Chrysalis (LON:CHS) said it was in early-stage talks with a number of parties potentially interested in buying the company, but there were no guarantee of an offer at this time. Status: Talks - CEO SAYS CANAL PLUS STILL INTERESTED IN PRISA’S DIGITAL PLUS French pay-TV provider Canal Plus (EPA:AN) is ready to resume negotiations with Spanish media company Prisa (MCE:PRS) over the acquisition of a controlling stake in satellite-TV operator Digital Plus, Canal Plus’s chief executive, Bertrand Meheut, said. Status: Bidding - COSALT GETS APPROACH FOR MARINE BUSINESS British safety equipment specialist Cosalt (LON:CSLT) said it had received a takeover approach for its marine operations, but did not disclose the name of the potential buyer. Status: Bidding - SOLVAY PHARMA BOARD TO EXAMINE MERGER WITH ABBOTT INDIA ON 24 NOV Indian drug maker Solvay Pharma India (BOM:532447) announced that its board of directors would meet on 24 November to study a potential merger with Abbott India (BOM:500488), part of US Abbott Laboratories (NYSE:ABT). Status: Exclusivity - ARRIVA’S GERMAN UNIT DRAWS INTEREST FROM FOUR BIDDERS Four potential buyers have reportedly showed interest in buying the German operations of British transport operator Arriva (LON:ARI). Status: Bidding - PHOENIX SAYS GORES GROUP RAISES TAKEOVER OFFER US core systems software (CSS) provider Phoenix Technologies (NASDAQ:PTEC) said US private equity firm The Gores Group has raised its takeover offer for the company to USD4.20 (EUR3.0) per share in cash, or about USD152m as a total. Status: Bidding - POLAND STARTS AUCTION FOR ENTIRE GRUPA LOTOS STAKE Poland is selling its entire 53.2% stake in local oil and gas company Grupa Lotos (WAR:LTS). Status: Auction - IBM SAID TO BUY IT SECURITY FIRM FORTINET US IT company IBM (NYSE:IBM) has offered to buy network security firm Fortinet (NASDAQ:FTNT). Status: Talks - J&J TO PROCEED WITH CRUCELL OFFER Johnson & Johnson (NYSE:JNJ) expects to make a definitive takeover bid for Dutch biotechnology company Crucell (AMS:CRXL) by end-November, the companies said in a joint statement. Status: Bidding ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |