M&A Navigator: Deal pipeline – 21 July

The following is a list of deals covered in detail by M&A Navigator this week:

- AUSTRALIAN AMCOR SELLS SPANISH UNIT TO CONSTANTIA PACKAGING

Australian packaging company Amcor (ASX:AMC) has agreed to sell its Spanish Topebal operations to Austrian sector company Constantia Packaging (WBAG:COV) for EUR92m (USD118.6m).

Status: Agreed

- US SPX WRAPS UP BUY OF DANISH ANHYDRO

US engineered solutions manufacturer SPX Corporation (NYSE:SPW) said it had closed the purchase of Denmark-based Anhydro for an undisclosed sum.

Status: Closed

- JAPANESE FUJUREBIO TO BUY INNOGENETICS IN BELGIUM

Japanese Fujirebio Diagnostics, the diagnostic-drug arm of Miraca Holdings (TYO:4544), said it plans to acquire Belgian sector company Innogenetics (EBR:INNX) for JPY9.7bn (USD111.3m/EUR86.3m).

Status: Agreed

- THAI BERLI JUCKER EYES CARREFOUR'S STORES IN SOUTHEAST ASIA

Thai supply chain operator Berli Jucker (BAK:BJC) is ready to bid for Carrefour's (EPA:CA) Southeast Asian business on sale for some USD1bn (EUR778.2m).

Status: Bidding

- US DRUMMOND SAID TO DISPOSE OF COLOMBIAN OPERATIONS

US coal miner Drummond plans to sell its activities in Colombia.

Status: Auction; Speculation

- UK ALECTO ENERGY TAKES 20% IN BULGARIAN BMC

UK energy investor Alecto Energy (LON:ALO) said it had agreed to take 20% in Bulgarian Mining Corporation Ltd (BMC) in exchange for the GBP45,000 (USD69,000/EUR54,000) loan it had granted to the Bulgarian company.

Status: Agreed

- GERMAN MORPHOSYS SEEKS ACQUISITIONS

German biotech company Morphosys AG (ETR:MOR) is exploring potential acquisitions, chiefly in the field of diagnostics.

Status: Bidding

- DEUTSCHE BANK HOLDS 2.23% IN PORTUGAL TELECOM

Deutsche Bank AG (ETR:DBK) bought on 9 July 2.82m shares in Portugal Telecom (ELI:PTC), or PT, raising its stake in the telecom operator to 2.23%.

Status: Closed

- ITALIAN PROGRESSIO SGR BUYS FRENCH JALLATTE

Italian asset management company Progressio SGR has bought French safety shoes and professional footwear company Jallatte.

Status: Closed

- UK FIRESTONE DIAMONDS IN STOCK DEAL TO BUY KOPANE

UK-based diamond miner Firestone Diamonds (LON:FDI) said its board had agreed to buy peer Kopane (LON:KDD) in an all-stock deal, subject to approval by the companies' shareholders.

Status: Bidding

- SPANISH FERROVIAL TO SELL 50% OF AUTOPISTA TRADOS 45 TO AXA PRIVATE EQUITY

Spanish transport infrastructure group Ferrovial (MCE:FER) said its toll road unit Cintra had agreed to dispose of its 50% in Autopista Trados 45 SA to AXA Private Equity's investment vehicle Finavias for EUR67m (USD86m).

Status: Agreed

- BOSNIAN BOBAR IN TALKS TO BUY BUS OPERATOR AUTOPREVOZ

Drinatrans, the transport unit of Bosnian financial group Bobar (BANJ:BBRB-R-A), is in negotiations on the purchase of bus line operator Autoprevoz.

Status: Talks

- GERMAN SCA BUYS MEXICAN COPAMEX FOR USD50M

German hygiene and paper company SCA (ETR:PWA) said it had bought Mexican consumer paper products maker Copamex for some USD50m (EUR39m).

Status: Closed

- BROOKS MACDONALD CLOSES OFFER FOR BRAEMAR, OWNS 97.83%

UK wealth manager Brooks Macdonald (LON:BRK) said it had closed its offer to buy fund and property manager Braemar (LON:BRG), after securing acceptance for 97.83% in the company by 20 July.

Status: Agreed

- GERMAN SAP GETS EU NOD TO BUY US SYBASE

German software developer SAP (ETR:SAP) said it has received approval from the European Commission (EC) for its proposed acquisition of US enterprise and mobile software developer Sybase (NYSE:SY).

Status: Bidding

- GABLE HOLDINGS SAYS CEO BUYS MORE INTO THE COMPANY

Insurance investor Gable Holdings (LON:GAH) said it had been informed that its chief executive William Dewsall has taken additional 1.849m of company shares.

Status: Closed

- CONAGRA FOODS SHEDS DEHYDRATED, VEGETABLE PRODUCT BUSINESS

US food group ConAgra Foods (NYSE:CAG) said it has wrapped up the sale of its dehydrated and vegetable product business in a move to focus on its core operations.

Status: Closed

- UK RECKITT BENCKISER TO BUY SSL FOR GBP2.54BN

UK household and healthcare products company Reckitt Benckiser Group (LON:RB) said it had agreed to buy consumer brand firm SSL International (LON:SSL) for some GBP2.54bn (USD3.9bn/EUR3.01bn).

Status: Bidding; Agreed

- ELI LILLY WRAPS UP ALNARA TAKEOVER

US pharmaceuticals company Eli Lilly and Company (NYSE:LLY) said it has completed the acquisition of Massachusetts-based biotechnology firm Alnara Pharmaceuticals.

Status: Closed

- FRENCH SOCOTEC BUYS AREVA'S INSPECTION UNIT CTE NORDTEST

French Socotec, a provider of inspection, technical assistance and consulting services to the construction, real estate and healthcare sectors, had bought Areva's (EPA:CEI) CTE Nordtest unit.

Status: Closed

- RUSSIAN RAILWAYS TO SELL 50% OF TRANSTELECOM WITHOUT MAIN NETWORK

State-owned Russian Railways will sell 50% minus one share in its wholly-owned telecom unit TransTeleCom without including in the sale the main communications network used by the unit.

Status: Auction

- GENNX360 ACQUIRES US MAINE MACHINE PRODUCTS FROM FOUNDING FAMILY

US private equity company GenNx360 Capital Partners said it had bought local Maine Machine Products Company, a producer of precision components for the defence, semiconductor and oil sectors.

Status: Closed

- US FLIPBOARD BUYS WEB INTELLIGENCE FIRM ELLERDALE

US social magazine Flipboard said it has acquired real-time web intelligence company Ellerdale for an undisclosed sum.

Status: Closed

- US CYBERSOURCE SHAREHOLDERS OKAY TAKEOVER BY VISA

The shareholders of US electronic-pay and risk management firm Cybersource (NASDAQ:CYBS) gave a green-light to the takeover by electronic payment company Visa (NYSE:V).

Status: Closed

- US NEWPORT SELLS HILGER CRYSTALS TO DYNASIL

US advanced-technology company Newport Corporation (NASDAQ:NEWP) said it had finalised the divestment of its Hilger Crystals subsidiary to Dynasil Corporation (OTC:DYSL), a local provider of technology and products to the medical, industrial and security markets.

Status: Closed

- US SUCCESSFACTORS BUYS CUBETREE

US business execution software developer SuccessFactors Inc (NASDAQ:SFSF) said it had wrapped up the takeover of local social business software firm CubeTree Inc.

Status: Closed

- DIAGEO CHATEAU UNLOADS BARTON & GUESTIER BORDEAUX

US Diageo Chateau & Estate Wines said it had sold its Barton & Guestier Bordeaux operations to French wine group Castel Freres SAS for an undisclosed sum.

Status: Closed

- INDUSTRIAL ALLIANCE CLOSES US AMERICAN-AMICABLE BUY

Canada-based Industrial Alliance Insurance and Financial Services (TSE:IAG) announced it had closed the acquisition of US life insurer American-Amicable Holding for some USD145.3m (EUR112.8m).

Status: Closed

- US NTELOS AGREES TO BUY ONE'S FIBERNET FOR USD170M

US communications services provider Ntelos Holdings Corp (NASDAQ:NTLS) said it had agreed to take over the FiberNet operations of sector firm One Communications Corp for USD170m (EUR132m) in cash.

Status: Agreed

- US IA GLOBAL TO TAKE OVER JAPANESE ZEST

US global services and outsourcing company IA Global Inc (PINK:IAGI) said it had inked a letter of intent to fully acquire Japanese construction firms Zest Corporation Co Ltd and Zest Home Co Ltd from Kansai Trust Co Ltd.

Status: Exclusivity

- ITALIAN BEST UNION BUYS TICKETING COMPANY AMIT

Italian ticketing system operator Best Union Company (BIT:BEST) announced the completion of the acquisition of sector player Amit Srl for EUR1.5m (USD1.9m) paid in cash and debt.

Status: Closed

- AUSTRIAN STRABAG BUYS 70% IN GERMAN RIMEX

Austrian construction group Strabag SE (WBAG:STR) unveiled the acquisition of a 70% stake in German facility management provider Rimex.

Status: Closed

- FRENCH MILLIMAGES TO SELL 65.1% IN GEDEON PROGRAMMES

French animation production and distribution group Millimages (EPA:MIL) announced a deal to sell its 65.1% stake in documentary production company Gedeon Programmes to Gedeon's holding company SM Participations.

Status: Agreed

- AGFEED TO BUY US HOG PRODUCER M2P2 FOR USD16M

China-based pork and animal feed producer AgFeed Industries (NASDAQ:FEED) announced an agreement in principle to buy US sector player M2P2 LLC for USD16m (EUR12.4m) in cash and stock.

Status: Agreed

- IBM BUYS SECURITY SOFTWARE FIRM BIGFIX

US IT giant IBM (NYSE:IBM) said it has acquired security software firm BigFix without providing financial details.

Status: Closed

- FINMECCANICA, DCNS, THALES MAY TIE UP TORPEDO, SONAR ASSETS

Italian aerospace and defence group Finmeccanica (BIT:FNC) and French defence groups DCNS and Thales (EPA:HO) are discussing a combination of their torpedo and sonar operations.

Status: Talks

- RBS GETS THREE BIDS FOR WORLDPAY FROM PRIVATE EQUITY FIRMS

Royal Bank of Scotland (LON:RBS) received three offers for its payment processing unit WorldPay by the deadline on July 20 from private equity firms.

Status: Bidding; Speculation

- TROIKA DIALOG SHAREHOLDER MAY SELL STAKE OVER NEXT 2 YEARS

Ruben Vardanyan, a major shareholder of Russian private investment bank Troika Dialog, could dispose of his holding in the bank within the next two years.

Status: Speculation; Auction

- AUSTRIAN CPAG MANAGERS AGREE TO EUR47 P/S SQUEEZE-OUT

Sulipo, the majority owner of Austrian Constantia Packaging (WBAG:COV), or CPAG, agreed with CPAG's management on cash EUR47 (USD61) per share squeeze-out price for the minority shareholders.

Status: Bidding

- BARCLAYS SAYS OFFER FOR SWEDISH TRICORONA UNCONDITIONAL

UK financial group Barclays (LON:BARC) said the SEK8.00 (USD1.09/EUR0.84) recommended cash offer by its unit TAV AB to buy Swedish Tricorona (STO:TRIC) is now unconditional.

Status: Bidding

- US TACTICAL AIR IN MOU TO TAKE OVER COLOMBIAN SUDAMIN

US Tactical Air Defense Services Inc (OTC:TADF), a contractor to the aerospace and defence industries, has inked a memorandum of understanding to purchase Colombian defence services contractor Sudamin A&D SA.

Status: Exclusivity

- CYPRESS BIOSCIENCE SAYS TO REVIEW RAMIUS' UNSOLICITED OFFER

US Cypress Bioscience (NASDAQ:CYPB), a provider of therapeutics and personalised medical services, said it would review the unsolicited USD4 (EUR3.08) per-share cash offer from investment advisor Ramius.

Status: Bidding

- BLACKSTONE REPORTEDLY NOT TO BID FOR ALPINVEST PARTNERS

US private equity firm Blackstone (NYSE:BX) has no plans to submit an offer for Europe's largest private equity firm Alpinvest Partners.

Status: Denied

- BLACKSTONE, TPG SAID TO WITHDRAW FROM BIDDING FOR RADIOSHACK

US private equity firms Blackstone (NYSE:BX) and TPG Capital will probably call off a planned bid for electronics retailer RadioShack (NYSE:RSH).

Status: Speculation; Talks

- GERMAN SAP EXTENDS TENDER OFFER FOR US SYBASE

German software developer SAP (ETR:SAP) has extended the tender offer for all outstanding shares in US enterprise and mobile software developer Sybase (NYSE:SY) to 26 July.

Status: Bidding

- ITALIAN ENI MULLS OVER SELLING GALP ENERGIA STAKE

Italian oil and natural gas group Eni (BIT:ENI) is negotiating the sale of its 33.34% stake in Portuguese peer Galp Energia (ELI:GALP).

Status: Talks

- INDIAN RELIANCE REPORTEDLY IN TALKS WITH US QUICKSILVER

Indian refiner Reliance Industries (BOM: 500325) is negotiating a partial or entire acquisition of US independent energy company Quicksilver Resources (NYSE:KWK).

Status: Talks; Speculation

- RAMIUS MAKES USD4 P/S CASH APPROACH FOR CYPRESS

US investment advisor Ramius said it had approached the board of Cypress Bioscience (NASDAQ:CYPB), a provider of therapeutics and personalised medical services, with a USD4 (EUR3.09) per-share all-cash offer to buy the rest of the company.

Status: Bidding

- US CLIFFS NATURAL RESOURCES EXTENDS BID FOR SPIDER, OWNS 81.8%

US miner Cliffs Natural Resources (NYSE:CLF) said it had extended to 26 July its CAD0.19 (USD0.18/EUR0.14) per share offer for Canadian mineral exploration firm Spider (CVE:SPQ) after securing 81.8% acceptance by 16 July.

Status: Bidding

- BELGIAN DELHAIZE SHOWS INTEREST IN ALDI'S GREEK STORES

Belgian food retailer Delhaize (EBR:DELB) has expressed interest in German discount retailer Aldi's Greek business.

Status: Bidding; Speculation

- GDF SUEZ CONFIRMS MERGER TALKS WITH INTERNATIONAL POWER

French utility GDF Suez (EPA:GSZ) said it was in preliminary merger talks with British sector player International Power (LON:IPR).

Status: Talks

- CANADIAN CONSORTIUM BIDS GBP3.25 P/S FOR UK TOMKINS

The board of UK engineering and manufacturing company Tomkins (LON:TOMK) said it had been approached by a consortium with a proposal to buy it for GBP3.25 (USD4.9/EUR3.9) per share in cash.

Status: Bidding

- NATIONAL BANK OF GREECE SAID TO PLAN MERGER

National Bank of Greece (NYSE:NBG) plans to merge with either another leading Greek bank or a foreign lender.

Status: Speculation

- GERMAN ARQUES PLANS TO EXIT GIGASET CAPITAL IN 2010

German venture capital group Arques (ETR:AQU) intends to offload its telephone unit Gigaset Communications later this year after fully acquiring it.

Status: Auction

- UK KEWILL SAYS STILL IN TALKS TO BE TAKEN OVER

The board of UK software and services company Kewill (LON:KWL) said it was still in talks with an unnamed party over a possible offer for Kewill, without giving any further details.

Status: Talks; Bidding

- UK INTERNATIONAL POWER SAYS IN TALKS TO TIE UP WITH GDF SUEZ UNITS

The board of UK power generation company International Power (LON:IPR) said it was in preliminary discussions with French utility GDF Suez (EPA:GSZ) over a proposal to merge with GDF Suez's Energy International Business Areas and some operations in the UK and Turkey.

Status: Talks

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