M&A Navigator: Deal pipeline – 23 Feb 2010
The following is a list a of deals covered in detail by M&A Navigator this week:
- CANADIAN CANAM TO FURTHER INCREASE STAKE IN US FABSOUTH
Canadian industrial company Canam Group (TSE:CAM) said it has inked a deal to further increase its stake in US steel fabricator FabSouth via the purchase of a 65% stake.
Status: Agreed
- CAIXA GALICIA IN TALKS TO SELL STAKE IN GALP
Spanish savings bank Caixa Galicia is in talks to sell its 4.5% indirect stake in Portuguese oil and natural gas firm Galp Energia (ELI:GALP).
Status: Talks
- DUTCH ROMPETROL GROUP UPS STAKE IN ROMANIAN ROMPETROL WELL SERVICES TO 73%
Dutch-based oil group Rompetrol Group NV has boosted its shareholding in Romanian Rompetrol Well Services (BSE:PTR) to 73% from 52.27%, after a buyout bid, the intermediary in charge of the procedure said.
Status: Closed
- DESCARTES SYSTEMS OFFERS TO BUY BELGIAN PORTHUS
Canada's Descaters Systems Group (TSE:DSG), a supplier of logistics software, announced it had launched a conditional cash tender offer of EUR12.50 (USD17) per share for Belgian provider of trade management solutions Porthus (EBR:ALPTH), currently known as Zemblaz NV.
Status: Bidding
- GERMANY'S COMMERZBANK WANTS 100% OF UKRAINIAN FORUM BANK
German Commerzbank (ETR:CBK) aims to buy the minority stake in Forum, its banking unit in Ukraine, and take full control of it.
Status: Speculation
- OLD MUTUAL EXPLORES SALE OF US OPS, HIRES JPM TO STUDY ALTERNATIVES
British insurer Old Mutual (LON:OML) has hired US investment bank JPMorgan (NYSE:JPM) to study the potential sale of its US life insurance unit.
Status: Speculation; Auction
- GLV TAKES 93% OF AUSTRIAN CWT, TO START SQUEEZE-OUT
Canadian technological solutions provider GLV (TSE:GLV.B) has purchased 92.6% of Austrian water technologies specialist Christ Water Technology (WBAG:CWT) as part of its voluntary takeover bid, which expired on 19 February.
Status: Closed
- NESTLE TO CLOSE ALCON STAKE SALE BY END-Q3
Swiss food giant Nestle (VTX:NESN) will close the sale of its stake in US-Swiss eye-care firm Alcon (NYSE:ACL) to Novartis (VTX:NOVN) by the end of the third quarter of 2010, according to Nestle presentation materials.
Status: Agreed
- NUEVA RUMASA BIDDING TO TAKE 28% OF SOS VOTING RIGHTS
Spanish holding company Nueva Rumasa is offering to pay EUR3 (USD4.068) for each share of food group SOS Corporacion Alimentaria (MCE:SOS) in a move to get 28.418% of its voting rights, Nueva Rumasa said in a filing with stock market regulator CNMV.
Status: Bidding
- THERMO FISHER OFFERS USD6BN TO BUY MILLIPORE
US laboratory equipment maker Thermo Fisher Scientific (NYSE:TMO) has made an unsolicited USD6bn (EUR4.4bn) takeover bid for home life-science company Millipore (NYSE:MIL).
Status: Bidding
- ITALY'S UTILITY A2A REBUFFS REPORT ON EDISON STAKE SALE TO EDF
Italian utility A2A (BIT:A2A) denied plans to sell its 31% stake in Italian Edison (BIT:EDN) to France's EDF (EPA:EDF).
Status: Denied
- US NGMOCO BUYS HOME GAME DEVELOPER FREEVERSE
San Francisco-based ngmoco, a developer and pusnlisher of iPhone and iPod touch games, announced it has bought New York-based peer Freeverse for an undisclosed sum.
Status: Closed
- LITHUANIA SAYS READY TO HELP POLISH PKN KEEP LOCAL REFINERY
Lithuania offered to provide logistics help to local Orlen Lietuva refinery, if its Polish owner, oil refiner PKN Orlen (WAR:PKN), promises not to sell it.
Status: Auction
- DUTCH UNIT4 TO BUY SWEDISH IBS' DUTCH ARM
Dutch software firm UNIT4 (AMS:U4AGR) announced an agreement to acquire IBS Consist, the Dutch unit of Swedish sector player International Business Systems (STO:IBS B), or IBS.
Status: Agreed
- MICROCHIP IMPROVES BID FOR SILICON STORAGE
US chip maker Microchip Technology (NASDAQ:MCHP) said it has sweetened its bid for smaller competitor Silicon Storage Technology (NASDAQ:SSTI) by 5.3% to about USD287m (EUR212m) after the latter received a rival bid from an unnamed private equity firm.
Status: Agreed
- CARREFOUR, GREEK MARINOPOULOS ESTABLISH JV TO GROW IN THE BALKANS
French retailer Carrefour (EPA:CA) and Greece's Marinopoulos Group have created a joint venture to develop hypermarkets and supermarkets under the Carrefour franchise in the Balkan region, Marinopoulos Group said.
Status: Closed
- SPANISH PRISA IN TALKS TO SELL STAKE TO INTL INVESTORS
Spanish media group Prisa (MCE:PRS) said it was talking with a group of international investors over a deal which would fetch capital injection of between EUR450m (USD610.2m) and EUR600m to help it repay some of its EUR5bn debt.
Status: Talks
- INDIAN RELIGARE TO BUY MAJORITY IN US NORTHGATE CAPITAL
Indian financial services group Religare Enterprises (BOM:532915) announced an agreement to buy a stake of over 60% in US private-equity firm Northgate Capital, without providing financial details.
Status: Agreed
- FRANCE'S EDF CONSIDERS BUYING MORE OF ITALIAN EDISON
French power utility EDF (EPA:EDF), controlling 50% of Italian Edison (BIT:EDN), may take a further 31% in the Italian utility, worth EUR1.6bn (USD2.2bn), from utility A2A (BIT:A2A) and its partners, in exchange for power assets and cash.
Status: Speculation
- BRAZILIAN CSN'S OFFER FOR 33.3% OF PORTUGAL'S CIMPOR FAILS
Brazil's steel producer CSN's (SAO:CSNA3) has failed in its plan to take 33.3% of Portuguese cement maker Cimpor (ELI:CPRAM), as only shareholders controlling 8.5% of Cimpor agreed to tender their stock to its bid, data from the Portuguese stock market showed.
Status: Terminated
- WEATHERLY WINS NAMIBIA OKAY TO SELL TSUMEB SMELTER OPS
UK-based copper miner and smelter Weatherly International (LON:WTI) said it has won the go-ahead of the Namibian competition regulator to sell its Tsumeb smelter operations to Canadian precious metals miner Dundee Precious Metals (TSE:DPM) for USD33m (EUR23m).
Status: Exclusivity
- NEWS CORP CONFIRMS ACQUIRING STAKE IN ROTANA GROUP
Rupert Murdoch's media conglomerate News Corp (NASDAQ:NWSA) confirmed it has struck a deal to buy a 9.09% stake in Saudi Arabian Rotana Media and said it would pay USD70m (EUR51.4m) for the newly-issued Rotana shares.
Status: Agreed
- WIENER BOERSE IN TALKS TO BUY SOFIA, ZAGREB STOCK MARKETS
Austrian stock exchange operator Wiener Boerse is in talks over the potential acquisition of the stock markets in Bulgaria and Croatia.
Status: Talks
- DUTCH RABOBANK TO LOWER EUREKO HOLDING
Dutch bank Rabobank NV may cut its holding in home insurer Eureko to 30% from the current 39%, thus reducing the possibility of a merger between them.
Status: Auction
- FEW INVESTORS WANT TO BUY GERMAN PROSIEBENSAT.1'S N24
The chief executive of German media group ProsiebenSat.1 (ETR:PSM), Thomas Ebeling, said that there are a few investors, which have expressed interest to buy its news broadcaster N24, which has been put up for sale.
Status: Auction
- AEDES, CORDEA TERMINATE HOUSING JV, SPLIT UNITS
Italian real estate group Aedes (BIT:AE) and property fund manager Cordea Savills said they have inked a final agreement to end their 50/50 housing joint venture as part of a plan, initially announced in December.
Status: Agreed
- ECKERT & ZIEGLER, SMI OFFER FOR IBT TO RUN UNTIL 9 MARCH
Belgian cancer treatment provider International Brachytherapy (EBR:IBT) said that the all-cash takeover bid placed by German medical equipment makers Eckert & Ziegler (ETR:EUZ) and SMI Steglitz Medinvest for all IBT shares will run until 9 March.
Status: Bidding
- WAL-MART INKS DEAL TO BUY VUDU
US retailer Wal-Mart (NYSE:WMT) said it has agreed to buy home digital technologies and services provider Vudu, without disclosing financial details.
Status: Agreed
- BROOKFIELD KEEN ON BUYING BIG STAKE IN GENERAL GROWTH
Canadian Brookfield Asset Management (TSE:BAM.A) is seeking to bid for a big stake in US mall operator General Growth Properties (OTC:GGWPQ) in a move to outbid Simon Property Group (NYSE:SPG).
Status: Bidding
- US APOLLO MANAGEMENT WANTS TO BUY STAKE IN ZALE
US private equity group Apollo Management wants to buy a stake in troubled fine jewelry retailer Zale (NYSE:ZLC).
Status: Speculation; Bidding
- US UNITRIN TO OFFLOAD HEALTH INSURANCE UNIT
US diversified insurance holding company Unitrin (NYSE:UTR) said it has agreed to sell its health insurance unit Reserve National Insurance Company to home insurer Physicians Mutual.
Status: Agreed
- SICHUAN TENGZHONG WEIGHING OPTIONS TO GET REGULATORY NOD FOR HUMMER
Chinese heavy machinery maker Sichuan Tengzhong Heavy Industrial Machinery is exploring various options for its planned acquisition of Hummer, a unit of General Motors (GM), in case it fails to win regulatory clearance from local authorities.
Status: Delayed
- WAL-MART JAPANESE ARM SAYS PURSUING M&A OPPORTUNITIES
The Japanese unit of US retailer major Wal-Mart Stores (NYSE:WMT) said it plans to boost its growth through mergers and acquisitions (M&As).
Status: Bidding
- WARNER BROS TAKES MAJORITY OF BATMAN GAME MAKER ROCKSTEADY
Warner Bros. Home Entertainment Group, the distribution unit of US movie maker Warner Bros. Entertainment, said it has acquired a majority stake in UK-based privately-held developer of interactive entertainment Rocksteady Studios, in a bid to further strengthen its position in the fast-growing games market.
Status: Closed
- IMPERIAL SUGAR TO ESTABLISH JV WITH PURECIRCLE
US refined sugar group Imperial Sugar Company (NASDAQ:IPSU) announced it has entered an agreement with Malaysia-based natural sweetener producer PureCircle Ltd (LON:PURE) to set up a joint venture.
Status: Agreed
- IRELAND'S DENIS O'BRIEN TO SELL CONTROL OF DIGICEL PACIFIC TO DIGICEL GROUP FOR EUR500M
Irish businessman Denis O'Brien wants to sell a majority stake in telecom Digicel Pacific to sister company Digicel Group for over EUR500m (USD681.3m).
Status: Speculation
- GIOVANNI VERZOLETTO ENTERS CAPITAL OF ITALIAN IKF AFTER BUYING 5.7%
Italian entrepreneur Giovanni Verzoletto has entered the capital of investment group IKF SpA (BIT:IKF), after buying a stake of 5.7%.
Status: Closed
- FRENCH BNP PARIBAS, CREDIT AGRICOLE BOOST OWNERSHIP IN VALADE
Idia, the private equity unit of French bank Credit Agricole (EPA:ACA), and BNP Paribas Developpement, the capital investment arm of BNP Paribas (EPA:BNP), have raised their stakes in home canned fruit and jam producer Valade, via a leveraged buyout (LBO).
Status: Closed
- UBM BUYS GAME ADVERTISING ONLINE
UBM TechWeb Game Network, a division of UK business media company United Business Media (LON:UBM), said it has bought banner advertising agency Game Advertising Online (GAO).
Status: Closed
- RAIFFEISEN INTL'S PARENT MULLS MERGER WITH UNIT
Austrian commercial and investment bank Raiffeisen Zentralbank (RZB) said it is studying the possibility to merge with its listed unit Raiffeisen International Bank (WBAG:RIBH) in an effort to boost its capital and repay state aid.
Status: Talks
- SPANISH SANTANDER TO DIVEST FROM 2.5% STAKE IN BME
Spain's banking group Santander (MCE:SAN) said it will dispose of a 2.5% stake in Spanish Stock Exchange Association BME.
Status: Auction
- KKR TAKES UK DOUGHTY HANSON'S STAKE IN GERMAN ATU
UK private equity investor, Doughty Hanson, had disposed of its 18.5% in German auto parts retailer Auto-Teile Unger, or ATU, to majority holder, US buyout firm KKR.
Status: Closed
- DUTCH TNT MAY PUT UP MAIL UNITS FOR SALE
Dutch mail and express deliveries company TNT (AMS:TNT) will review during the next months all possible options for its Italian, UK and German mail units, including also divestment, CEO PeterBakker said.
Status: Auction
- HOCHTIEF PENSION TRUST MAY EXIT HOCHTIEF CAPITAL
The Hochtief Pension Trust said it plans to offload up to 2,100,950 shares, or a stake of 3% of the total voting rights, in German construction group Hochtief (ETR:HOT) on the stock market.
Status: Auction
- OGER TELECOM WILLING TO BOOST STAKE IN TURK TELEKOM
Oger Telecom, which holds an indirect 55% stake in Turk Telekom (IST:TTKOM.E), said it is keen on raising its interest in the Turkish integrated telecom provider by a minimum 10%.
Status: Bidding
- CARLYLE'S GERMAN CO OFFERS EUR17.73 P/S TO P&I
Munich-based Argon GmbH & Co, a subsidiary of US private equity firm Carlyle Group, said it would offer to EUR17.73 for each share of German software developer P&I Personal & Informatik AG (ETR:PUI).
Status: Bidding
- FRENCH BPCE PLANS TO OFFLOAD FONCIA
French bank BPCE has intentions to dispose of its real estate management unit Foncia as it is no longer considered a strategic asset.
Status: Auction; Speculation
- GERMAN TUI MAY TAKE FULL CONTROL OF UK TUI TRAVEL
German tourism group Tui (ETR:TUI1) is considering to fully acquire its UK subsidiary Tui Tavel (LON:TT).
Status: Speculation
- GERMAN ARQUES CONSIDERS SALE OF GIGASET BACK TO SIEMENS
German venture capital group Arques Industries (ETR:AQU) is mulling over the sale of Gigaset Communications back to electronics giant Siemens (ETR:SIE).
Status: Talks
- CVC TO TAKE 73% OF INDONESIAN MATAHARI
British private equity firm CVC Capital Partners is aiming to buy a 73% stake in Indonesian department store operator Matahari for IDR5.76trn (USD619.7m/EUR455.4m).
Status: Speculation
- TELECOM ITALIA POSTPONES MERGER WITH SPAIN'S TELEFONICA
A potential merger between Telecom Italia (BIT:TIT) and Spain's Telefonica (MCE:TFE) may be delayed more than the market expected.
Status: Speculation: Delayed
- ROYAL LONDON RESUMES TALKS TO BUY ROYAL LIVER
UK mutual life and pensions company Royal London has resumed talks to buy home life insurer Royal Liver.
Status: Talks
- INDIAN RELIANCE SWEETENS LYONDELLBASEL OFFER TO USD14.5BN
Indian energy giant Reliance Industries (BOM:500325) has increased its takeover bid for troubled Dutch petrochemicals company LyondellBasel to some USD14.5bn (EUR10.6bn).
Status: Bidding
- GLENCORE WANTS TO BUY PRODECO MINE FROM XSTRATA
Swiss commodities trader, Glencore, is talking to potential partners in a bid to buy the Colombian coal mine Prodeco, from Swiss miner Xstrata (LON:XTA).
Status: Speculation
- UK RETAILER CATH KIDSTON GETS BIDS FROM SEVERAL BUYOUT FIRMS
UK clothing and homewares retailer Cath Kidston, up for sale for at least GBP75m (USD116m/EUR85m), attracted interest from several private equity firms.
Status: Bidding
- HOLOWENT LAUNCHES TAKEOVER OFFER FOR NR NORDIC
Cyprus-based investor Holowent Limited and UK real estate investor NR Nordic & Russia Properties (AMS:NRP) announced the launch of Holowent's EUR0.24 (USD0.33) per share public takeover offer for NR Nordic.
Status: Bidding
- AIRGAS PUSHES SHAREHOLDERS TO TURN DOWN AIR PRODUCTS OFFER The management board of US industrial gas supplier Airgas' (NYSE:ARG) is urging shareholders to rebuff the unsolicited USD5.1bn (EUR3.7bn) offer from sector player Air Products and Chemicals (NYSE:APD), the board said, dubbing the bid too low.
Status: Bidding
((Comments on this story may be sent to [email protected]))
Bethel school board defends request for 2.56% increase [Connecticut Post, Bridgeport]
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