M&A Navigator: Deal pipeline – 3 May

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

- US THE TORO CO TAKES HOME USPRAXIS TO EXPAND PORTFOLIO

US turf and landscape maintenance equipment provider The Toro Company (NYSE:TTC) said it had bought some assets of outdoor power equipment maker USPraxis, for an undisclosed sum, to boost its offering to the rental market.

Status: Closed

- US UNION BANK BUYS PARTS OF FRONTIER BANK TO EXPAND IN NORTHWESTERN US

San Francisco-based bank UnionBanCal Corporation announced that its main subsidiary Union Bank NA has bought some assets and assume certain liabilities of home Frontier Bank in Washington from receiver, the Federal Deposit Insurance Corporation, or FDIC, to grow in the Pacific northwest region of the US.

Status: Closed

- WARBURG PINCUS, SILVER LAKE PARTNERS SAID CLOSE TO USD3.1BN TAKEOVER OF US IDC

Investors Warburg Pincus and Silver Lake Partners are said to be near the acquisition of US financial market data provider Interactive Data Corp (NYSE:IDC) for some USD3.1bn (EUR2.3bn).

Status: Bidding

- GREEN MOUNTAIN AGAIN EXTENDS BID FOR DIEDRICH COFFEE

US coffee maker Green Mountain (NASDAQ:GMCR) has again extended its USD35 (EUR26) per share cash tender offer for peer Diedrich Coffee (NASDAQ:DDRX) until 10 May, the company said in a press release adding that all the other terms and conditions of the offer remained unchanged.

Status: Bidding

- EASTMAN FINALISES GENOVIQUE SPECIALTIES TAKEOVER

US chemicals group Eastman Chemical Co (NYSE:EMN) said it has closed the acquisition of Genovique Specialties Corp, a producer of specialty plasticizers, benzoic acid and sodium benzoate.

Status: Closed

- OAK HILL CAPITAL ON TRACK TO BUY US DAVE & BUSTER'S

Oak Hill Capital Partners is said to be before a takeover of US restaurant chain Dave & Buster's Inc for some USD570m (EUR431m).

Status: Exclusivity

- US AUDAX GROUP SELLS THERMON IND. TO CODE HENNESSY & SIMMONS

US buyout firm Audax Group said it had closed the disposal of local Thermon Industries, a heat tracing equipment manufacturer, to home investor Code Hennessy & Simmons, for an undisclosed sum.

Status: Closed

- US E-DIALOG ACQUIRES DATABASE MARKETING SYSTEMS PROVIDER MBS

US e-mail marketing solutions specialist e-Dialog, a unit of GSI Commerce (NASDAQ:GSIC), unveiled the acquisition of MBS, a database marketing solutions firm, from mail advertising company World Marketing.

Status: Agreed

- US DIGITAL ANGEL SELLS UK UNIT TO R.STAHL FOR GBP2.3M

US Digital Angel (NASDAQ:DIGA), a specialist in animal identification and security systems, announced it had disposed of its UK unit, Clifford & Snell, to R. Stahl Ltd, a unit of German R.Stahl AG (ETR:RSL1), for GBP2.3m (USD3.5m/EUR2.7m) in cash.

Status: Closed

- US PACE ANALYTICAL SERVICES BUYS LAB OPERATOR ALPHA OMEGA

US environmental testing company Pace Analytical Services said it has taken over Ohio-based laboratory operator Alpha Omega Environmental Laboratory LLC for an undisclosed sum.

Status: Closed

- RHEINMETALL, MAN TIE-UP GETS CLEARANCE

German vehicles and defense equipment firm Rheinmetall (ETR:RHM) and MAN Nutzfahrzeuge, unit of truck maker MAN (ETR:MAN), said their wheeled tactical vehicles joint venture has received an approval by the local antitrust watchdog and can start operations.

Status: Closed

- BRAZILIAN VALE BUYS 51% IN BSG RESOURCES GUINEA FOR USD2.5BN

Brazilian miner Vale (SAO:VALE3) said it acquired a 51% interest in BSG Resources (Guinea) Ltd, a subsidiary of UK-based BSG Resources Ltd, for a total of USD2.5bn (EUR1.9bn) in cash.

Status: Agreed

- US EQUINIX BUYS SWITCH AND DATA FACILITIES COMPANY FOR USD683M

US global data centre services provider Equinix (NASDAQ:EQIX) announced it has closed the acquisition of home peer Switch and Data Facilities Company (NASDAQ:SDXC) for an estimated USD683.4m (EUR516.34m) to grow in North America.

Status: Closed

- EXECUTIVES MULL OVER SELLING WASHINGTON TIMES

Washington Times' executives are considering a potential sale of the daily broadsheet newspaper.

Status: Speculation; Talks

- US ACCESS 360 MEDIA BUYS MARKETING CO ARENA MEDIA NETWORKS

US out-of-home media network Access 360 Media said it has taken over local Arena Media Networks (AMN), a company for direct marketing at sport and concert events, for an undisclosed sum.

Status: Closed

- HERMES SHARES ON THE RISE ON SALE TALK AFTER DUMAS DEATH

French luxury products maker Hermes (EPA:RMS) saw its shares up after traders speculated that the company's majority shareholder could unload its stake after the death of former CEO Jean-Louis Dumas.

Status: Speculation

- GLENCORE INTL REPORTEDLY EYEING DEAL WITH UK XSTRATA

Swiss commodity trader Glencore International is said to be considering a tie-up agreement with UK mining company Xstrata (LON:XTA), which may crate a company valued at GBP55bn (USD84bn/EUR63bn).

Status: Talks; Speculation

- AVNET BUYS ITAUTEC'S SUBSIDIARY TALLARD

US enterprise computer and storage products distributor Avnet (NYSE:AVT) has agreed to buy Miami-based value-added distributor Tallard, part of Brazilian IT products specialist Itautec (SAO:ITEC3), for an undisclosed sum, Avnet said in a statement.

Status: Agreed

- BELGIAN EVADIX TO SELL ETIBEL UNIT

Belgian printing services group Evadix (EBR:ALEVA) said it has agreed to sell its troubled Etibel unit to local sector firm Dender Print.

Status: Agreed

- UNISYS WRAPS UP SALE OF HIM BIZ TO MOLINA HEALTHCARE

US IT group Unisys Corporation (NYSE:UIS) has finalised the divestment of its health information management (HIM) business to healthcare service provider Molina Healthcare (NYSE:MOH) for USD135m (EUR102m) in cash, the company said in a statement.

Status: Closed

- S AFRICA'S BJM TO SELL BJM SECURITIES TO RUSSIAN RECAP FOR ZAR207M

South African stockbroker and asset manager Barnard Jacobs Mellet Holdings (JNB:BJM) said that it had agreed to sell its BJM Securities unit to Renaissance Securities, a fully-owned unit of Russian investment bank Renaissance Capital, or Rencap, for ZAR207m (USD28m/EUR21.2m) in cash.

Status: Agreed

- US SOLUTIA TAKES OVER SUPPLIER OF WINDOW FILMS NOVOMATRIX

US producer of chemical materials Solutia (NYSE:SOA) said it has bought Singapore-based Novomatrix, a supplier of window films, from MAFLP Investments Limited and Globamatrix Holdings for some USD73m (EUR55m).

Status: Closed

- INDIAN S KUMARS IN JV DEAL WITH DONNA KARAN

India's fabrics and textile maker S Kumars Nationwide (BOM:514304) said it has sealed a joint venture agreement with US fashion house Donna Karan International.

Status: Agreed

- ELICA INKS JV DEAL IN INDIA

Italian cooker-hood maker Elica (BIT:ELC) said it has inked a deal with Indian businessman Pralhad Bhutada to form a joint venture operating on the Indian market.

Status: Agreed

- USFALCON COMPLETES ACQUISITION OF DURANGO GROUP

US IT solutions and engineering company USfalcon said it has wrapped up the takeover of home Durango Group LLC, a consultant in the field of aerospace, defence and national security, from Galen Capital Corporation.

Status: Closed

- PRESIDENT BOOSTS STAKE IN SPANISH ACS TO 12.55%

Florentino Perez, the president of Spanish construction group ACS (MCE:ACS), has bought an additional 0.185% in the company increasing his interest to 12.55% from 12.335%, the company told the market regulator CNMV.

Status: Closed

- US WELLS FARGO INSURANCE BUYS AIM ADMINISTRATION AGENCY IN UTAH

Wells Fargo Insurance Services, part of US financial giant Wells Fargo (NYSE:WFC), said that on 1 April it bought Utah-based insurance broker AIM Administration Agency, without revealing the financial terms.

Status: Closed

- UNITED, CONTINENTAL ANNOUNCE MERGER AGREEMENT

Continental Airlines (NYSE:CAL) and United Airlines, wholly-owned by UAL Corporation (NASDAQ:UAUA), announced a definitive merger agreement to create the world's largest airline, in an all-stock deal.

Status: Agreed

- CAPITOL BANCORP FINALISES NAPA COMMUNITY BANK SALE

US financial services company Capitol Bancorp (NYSE:CBC) said it has completed the previously announced sale of California-based Napa Community Bank to Rabobank NA, the US subsidiary of Dutch Rabobank Group, for an initial cash price of some USD25m (EUR18.9m).

Status: Closed

- NORWAY'S RISH, GCR STOP MERGER TALKS

Norway's shipping company GC Rieber Shipping (OSL:RISH) announced it had ceased merger talks with GC Rieber, or GCR, after being notified by GCR that it wanted to put the discussions on hold. GCR said it will look again into the deal after it cleared the uncertainty regarding its subsidiary GC Rieber Oils, created by the recent public attention.

Status: Delayed

- ASSA ABLOY AGREES TO BUY KOREAN KING DOOR CLOSERS TO EXPAND IN EMERGING MARKETS

Swedish door opening solution specialist Assa Abloy (STO:ASSA B) said it had entered an agreement to buy King Door Closers, a top Korean maker of door closers and floor springs, for an undisclosed sum, to grow in emerging markets.

Status: Agreed

- DRAEGERWERK CLOSES REPURCHASE OF STAKE IN DRAEGER MEDICAL

German medical and safety technology group Draegerwerk (ETR:DRW3) announced it has wrapped up the buyback of a 25% stake in its subsidiary Draeger Medical from industrial and electronics giant Siemens (ETR:SIE).

Status: Closed

- UK FREIGHTLINER, FRENCH SNCF, EUROTUNNEL SAID TO BE BIDDING FOR FIRSTGROUP'S RAIL FREIGHT UNIT

UK rail freight operator Freightliner, French national railway SNCF, and Eurotunnel (EPA:GET), operating the Channel Tunnel, are said to be potential buyers for GB Railfreight, the rail freight unit of UK passenger transport company FirstGroup (LON:FGP).

Status: Bidding

- FRENCH PERNOD RICARD WRAPS UP SALE OF SOME NORDIC ASSETS TO ALTIA

French spirits and wines maker Pernod Ricard (EPA:RI) announced it has closed the disposal of certain assets in Sweden and Denmark to Finnish state-owned peer Altia for SEK835m (USD115m/EUR87m) cash.

Status: Closed

- DUTCH CORIO TO TAKE 50% OF PORTA DI ROMA SHOPPING MALL IN ROME FOR EUR220M

Dutch property investor Corio (AMS:CORA) said it had entered a preliminary agreement to acquire the companies controlling 50% of the largest part of Porta di Roma shopping centre in Rome, for some EUR220m (USD291m). The shopping centre will be owned by a 50/50 joint venture of Corio and German insurer Allianz (ETR:ALV).

Status: Agreed

- BILLIONAIRE ICAHN EXTENDS TENDER OFFER FOR LIONS GATE

The Icahn Group, owned by activist shareholder Carl Icahn, announced a ten-day extension of its tender offer for Canada-based movie production studio Lions Gate Entertainment (NYSE:LGF).

Status: Bidding

- US LAW FIRMS HOGAN & HARTSON, LOVELLS UNVEIL TIE-UP

US law firms Hogan & Hartson LLP and Lovells LLP announced the combination of their operations, creating a major player in the global legal sector, called Hogan Lovells.

Status: Agreed

- GALP, MORGAN STANLEY BUY SOME SUPPLY, DISTRIBUTION OPS OF GAS NATURAL

Portuguese oil and gas group Galp Energia (ELI:GALP) and the infrastructure fund of US investment bank Morgan Stanley (NYSE:MS) said they have closed the purchase of gas supply and distribution operations in the region of Madrid from Spanish energy group Gas Natural (MCE:GAS) for EUR800m (USD1.06bn).

Status: Closed

- UNIVERSAL PROTECTION SERVICE BUYS PROGUARD SECURITY SERVICES

Security services firm Universal Protection Service, part of Universal Services of America, announced the acquisition of ProGuard Security Services, with operations in Arizona and Texas.

Status: Closed

- OPERA BUYS WEB-BASED EMAIL PROVIDER FASTMAIL.FM

Norwegian browser firm Opera Software (OSL:OPERA) said it has acquired Australian web-based email provider FastMail.FM for an undisclosed sum, in a bid to boost its messaging portfolio.

Status: Closed

- NORSK HYDRO TO BUY VALE'S ALUMINIUM OPS FOR USD1.1BN AND 22% STAKE

Norwegian aluminium producer Norsk Hydro (OSL:NHY) announced it has signed a deal to buy the aluminium business of Brazilian metals and mining group Vale (SAO:VALE5) in a move to become a fully-integrated aluminium company.

Status: Agreed

- US IMARKETING BUYS SOFTWARE FIRM TRACKINGSOFT

US full-service online marketing agency iMarketing announced the acquisition of Chicago-based software firm TrackingSoft for an undisclosed sum.

Status: Closed

- SCHULMAN COMPLETES ICO BUY

US chemicals maker A. Schulman (NASDAQ:SHLM) said it has completed the previously announced acquisition of home speciality chemicals maker ICO (NASDAQ:ICOC) for USD191m (EUR144.4m) in cash and stock.

Status: Closed

- SWISS FORBO'S SHAREHOLDER ARTEMIS UNLOADS PART OF STAKE

Swiss investment firm Artemis said it has lowered its shareholding in Forbo (SWF:FORN), a producer of floor coverings, adhesives and conveyor belts, to 25.1% from the previous 31.4% through an accelerated bookbuilding.

Status: Closed

((Comments on this story may be sent to [email protected]))