M&A Navigator: Deal pipeline – 25 Feb 2010

US-based Kaman Corporation (Nasdaq:KAMN), active on the aerospace and industrial distribution markets, said its unit KIT has agreed to buy the assets of Fawick de Mexico, a distributor of fluid power and lubrication products, equipment and systems.

Status: Agreed

PHILIP MORRIS PHILIPPINES, FORTUNE TOBACCO TEAM UP

The Philippines' arm of US tobacco giant Philip Morris International (NYSE:PM) and Fortune Tobacco Corp have agreed to join forces creating a new company.

Status: Agreed

- US OPTUMHEALTH BUYS WELLNESS

US OptumHealth, part of diversified health and well-being company UnitedHealth Group (NYSE:UNH), has bought sector player Wellness for an undisclosed price.

Status: Closed

- JPMORGAN EYEING STAKE IN BRAZILIAN GAVEA

US investment bank JPMorgan Chase (NYSE:JPM) is negotiating to purchase a stake in Brazilian private equity firm Gavea.

Status: Speculation; Talks

- ITALY'S BENETTONS SAY NO ATLANTIA/ABERTIS FOR NOW

Italian Edizione, the Benetton family holding, sees no need for now to merge its toll-road unit Atlantia (BIT:AUTS) with Spanish peer Abertis (MCE:ABE), but does not discard the possibility of such a deal in the future.

Status: Delayed

- PRGX TO EXPAND PROFIT DISCOVERY SERVICES WITH UK BUY

US recovery auditing service provider PRGX Global (NASDAQ:PRGX) has acquired UK-based privately-held provider of purchasing and payables technologies, Etesius, for an undisclosed sum.

Status: Closed

- RUSSIA'S KOMSTAR TAKES FULL CONTROL OF YEKATERINBURG UNITS

Russian telecommunications company Komstar (LON:CMST) announced it had completed the acquisition of the remaining 20% in cable TV provider EuroTel LLC and 25% of Management and Leasing LLC, owner of communication infrastructure in Yekaterinburg.

Status: Closed

- FRENCH ACCOR LOOKING TO SELL ASSETS TO REPAY DEBT

French hotel operator Accor (EPA:AC) said it planned to sell non-core assets, including a casino stake, to repay debt.

Status: Auction

- AIRBUS PUTS EQUIPMENT UNIT DASELL UP FOR SALE

French aircraft maker Airbus is seeking a buyer for Hamburg-based lavatory equipment maker Dasell in a move to focus on its core business.

Status: Auction

- SKYBRIDGE CAPITAL IN TALKS TO BUY CITIGROUP'S HEDGE FUND BUSINESS

New York-based investment firm SkyBridge Capital is in advanced talks to buy the USD4bn (EUR3bn) hedge fund business of Citigroup (NYSE:C).

Status: Talks

- SIEMENS GOES AHEAD WITH HEARING AID UNIT SALE

German electronics giant Siemens (ETR:SIE) is in the final stage of offloading its hearing aid unit after six bidders have placed offers.

Status: Auction

- PRIVATE EQUITY FIRMS STILL IN RACE FOR STYRON

A number of private equity firms, including TPG and Apollo, are still bidding for plastic synthetic resins maker Styron Corp, a unit of US chemicals giant Dow Chemical (NYSE:DOW).

Status: Bidding

- BOSKALIS OFFERS EUR60 P/S TO TAKE OVER SMIT

Dutch dredging company Boskalis (AMS:BOS) offered to pay EUR60 (USD81.33) for each share of maritime services provider Smit Internationale (AMS:SMIT).

Status: Bidding

- PHILIP MORRIS PHILIPPINES TO JOIN FORCES WITH FORTUNE TOBACCO

The Philippines' arm of US tobacco giant Philip Morris International (NYSE:PM) is planning to team up with Fortune Tobacco Corp.

Status: Speculation; Agreed

- CONSTANTIA TO START TAKEOVER BID FOR CROATIAN BELISCE

Austrian packaging maker Constantia Packaging (WBAG:COV) said it would initiate a mandatory takeover bid for Croatian corrugated board and cardboard producer Belisce (ZSE:BLSC-R-A) after it raised its interest in the group to over 25%.

Status: Bidding

- INTERCONTINENTAL WANTS TO BUY LUTETIA HOTEL TO EXPAND IN PARIS

UK's hotel operator InterContinental (LON:IHG) is looking to buy the Lutetia Hotel to expand in Paris, Kirk Kinsell.

Status: Talks

- SPAIN'S CAIXA PENEDES MOOTS INTRA-REGIONAL MERGER

Spanish savings bank Caixa Penedes, in Catalonia, does not rule out a merger with local peer Laietana, but, for now, it believes that a virtual tie-up with a sector player from another region would suit it better.

Status: Auction

- US AMICAS REJECTS OFFER OF MERGE HEALTHCARE

US radiology and medical image solutions provider Amicas (NASDAQ:AMCS) has rejected the takeover bid of sector player Merge Healthcare (NASDAQ:MRGE), and said it considers the offer as risky.

Status: Bidding

- IRISH KERRY GROUP EYES EUR1BN ACQUISITION 2011

Irish food group Kerry (ISE:0490656) plans to make a major acquisition worth EUR1bn (USD1.4bn) by the end of next year, as it will be in a good financial shape to carry it out.

Status: Bidding

- CANADIAN QUEENSLAND TO BUY DUNDEE PRECIOUS METALS' SERBIAN ASSETS

Canadian mineral exploration company, Queensland Minerals (CVE:QML) announced it has entered a non-binding letter of intent to buy metal miner Dundee Precious Metals' (TSE:DPM) assets in Serbia.

Status: Exclusivity

- SODEMO STILL WILLING TO BUY PEER VOXAN

French motorcycle maker Sodemo is still eyeing sector player Voxan-SCCM (EPA:MLVOX) despite the latter's rejection of its offer.

Status: Bidding

- CHINA SAID TO BE AGAINST TENGZHONG BUYING GM'S HUMMER

China ruled against a bid by local transportation heavy machinery maker, Sichuan Tengzhong, to acquire the Hummer brand of US carmaker General Motor.

Status: Speculation; Talks

- 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

- 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.

<p>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

- 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

- 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

- 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

- 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

- 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

- 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.1â'€šÂ¬Ã‚²S 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

- 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

- 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

- 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

- 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

- 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

- 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

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