M&A Navigator: Deal pipeline – 9 Mar

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

- DENBURY, ENCORE SHAREHOLDERS GIVE NOD TO USD4.5BN TIE-UP

US oil and gas company Denbury Resources (NYSE:DNR) and sector player Encore Acquisition Company (NYSE:EAC) announced that their stockholders had given the go-ahead to the planned USD4.5bn (EUR3.3bn) acquisition of Encore.

Status: Agreed

- INVICTA INKS JV DEAL WITH CHICAGO AFFORDABLE CARS

US Internet media company Invicta Group (OTCBB:IVIT) has sealed a joint venture agreement with online car dealer Chicago Affordable Cars.

Status: Agreed

- GREEN MOUNTAIN EXTENDS TENDER OFFER FOR DIEDRICH UNTIL 5 APRIL

US coffee roaster Green Mountain (NASDAQ:GMCR) has extended its USD35 (EUR26) per share cash tender offer for peer Diedrich Coffee (NASDAQ:DDRX) until 5 April.

Status: Bidding

- STANDARD LIFE HIRES ADVISOR TO WEIGH SALE OF HEALTH INSURANCE UNIT

Scotland-based pensions and insurance group Standard Life (LON:SL) hired UK advisor Fenchurch Advisory Partners to evaluate options for its health insurance unit, Standard Life Healthcare, including a sale.

Status: Auction

- RUSSIA'S SBERBANK UNDECIDED ON BID FOR GE'S GARANTI STAKE

Russian state-owned bank Sberbank (RTC:SBER) has not yet decided whether to bid for the 20.85% stake in Turkish bank Garanti (IST:GARAN) put up for sale by US diversified group General Electric (NYSE:GE).

Status: Bidding

- SWISS MIGROS TAKES OVER UK'S HALLAM BEAUTY TO EXPAND IN THE INTL COSMETICS SECTOR

Swiss retailer Migros said that it was buying control of UK's cosmetics company Hallam Beauty for an undisclosed sum, to enhance its footprint in the international body care sector.

Status: Agreed

- RED KNIGHTS WANT JAPAN'S NOMURA TO ADVISE ON BID FOR MANCHESTER UNITED FC

Red Knights, the London group of financiers looking to take over UK's top premier league football club Manchester United, have talked to Japanese investment bank Nomura (TYO:8604) over the possibility of hiring it as corporate adviser on the bid.

Status: Bidding

- THREE BREWERIES INTERESTED IN SERBIA'S BIP

Three unnamed foreign breweries have expressed interest in the acquisition of a controlling stake in struggling Serbian brewer Beogradska Industrija Piva (BEL:BIPB), or BIP.

Status: Auction

- CHEVRON TO SELL DOWNSTREAM OPS, INCLUDING UK PEMBROKE REFINERY

US oil group Chevron (NYSE:CVX) plans to dispose of some of its downstream assets, including the Pembroke refinery in the UK, and cut some 2,000 jobs this year.

Status: Auction

- GERMAN AUGUSTA TO UNLOAD DLOG FOR EUR12.85M

German Augusta Technologie (ETR:ABE1) has agreed to sell its logistics automation unit DLoG for EUR12.85m (USD17.4m) to computer manufacturer Advantech (TPE:2395) in Taiwan.</p>

Status: Agreed

- US BROADRIDGE FINANCIAL ACQUIRES STOCKTRANS

US company Broadridge Financial Solutions (NYSE:BR) has bought privately held StockTrans, which specialises in registering and transferring stocks services.

Status: Closed

- FRENCH ELIVIA TO TAKE FOUR BIGARD PLANTS

Elivia, the beef processing unit of French food cooperative Terrena, is taking over four processing plants of local competitor Bigard, for an undisclosed sum.

Status: Agreed

- SWEDISH HEMTEX TO OFFLOAD NORWEGIAN BUSINESS

Swedish household textile goods retailer Hemtex (STO:HEMX) has decided to offload its business in Norway, comprising 10 stores.

Status: Auction

- EC EXTENDS TO 29 MARCH REVIEW OF CISCO/TANDBERG DEAL

The European Commission (EC) has decided to extend by 10 business days to 29 March its probe into the acquisition of Norwegian video-conferencing solutions provider Tandberg (OSL:TAA) by US networking specialist Cisco Systems (NASDAQ:CSCO).

Status: Exclusivity

- F&C TO OFFER EUR12.50 P/S TO AUSTRIAN C-QUADRAT

Britain's investor and asset manager F&C Asset Management (LON:FCAM) said it would offer to acquire Austria-based investment fund C-Quadrat (ETR:C8I) for EUR12.50 (USD16.98) per share after the Austrian Takeover Commission has lifted the ban on potential bids.

Status: Talks; Bidding

- FRENCH FERALCO ENVIRONNEMENT CREATES JV WITH NOVACID

French Feralco Environnement, a subsidiary of Swedish chemical group Feralco, has established a joint venture with French chemical company Novacid.

Status: Closed

- TURKISH BUSINESSMAN ALPHAN MANAS TO UNVEIL ON FRIDAY PLANS FOR FRENCH HEULIEZ

Turkish businessman Alphan Manas will announce its decision regarding the acquisition of French struggling motor-vehicle equipment maker Heuliez on Friday.

Status: Talks

- HILL & SMITH INTERESTED IN RENEWABLES, UTILITIES ACQUISITIONS

UK infrastructure group Hill & Smith (LON:HILS) is planning to invest in acquisitions in the renewable energy and utilities sectors as it succeeded in boosting cash flow and cutting debt in 2009.

Status: Bidding

- DEUTSCHE TELEKOM NEGOTIATES CLICKANDBUY TAKEOVER

Germany's telecom major Deutsche Telekom (ETR:DTE) is in talks over the acquisition of Internet payment services provider Clickandbuy.

Status: Talks

- RUSSIAN TNK-BP TO SELL GAS FIELD STAKE TO GAZPROM

Russian oil company TNK-BP (RTB:TNBP) wants to sell its interest in Kovykta natural gas field to gas major Gazprom (MCX:GAZP).

Status: Auction

- DUTCH WESSANEN RIGHTS ISSUE TO BACK POTENTIAL ACQUISITIONS

The successfully completed share issue of Dutch food firm Royal Wessanen (AMS:WES) will help the company make acquisitions.

Status: Bidding

- US OPTIMAL SOLUTIONS BUYS BUDGETEC

US Optimal Solutions Integration, a specialist in SAP-based business transformation, has bought SAP consulting firm Budgetec.

Status: Closed

- US CME BUYS 1.9% OF MEXCAN BOLSA FOR USD17M

US derivatives exchange CME Group (NASDAQ:CME) will acquire a stake of 1.9% of Mexican exchange operator Bolsa Mexicana de Valores (MXK:BOLSAA) for USD17m (EUR12.5m), as part of a strategic partnership between the two firms.

Status: Agreed

- SPANISH TECNICAS REUNIDAS TAKES OVER 40% OF MASTER

Spanish engineering and industrial construction company Tecnicas Reunidas (MCE:TRE) has bought a 40% stake in design and construction company Master de Ingenieria y Arquitectura.

Status: Closed

- BAYER UNIT BUYS ARTIFICIAL MUSCLE OF CALIFORNIA

Bayer MaterialScience LLC, a unit of German drug and chemicals maker Bayer (ETR:BAYN), has acquired electroactive polymers maker Artificial Muscle (AMI) of California for an undisclosed amount.

Status: Agreed

- US MARSH & MCLENNAN PUTS UP KROLL FOR SALE

US insurance broker Marsh & McLennan (NYSE:MMC) has offered for sale its security consulting unit Kroll for USD1.3bn (EUR955m).

Status: Auction; Speculation

- UK'S DFS EXPECTS FINAL BIDS BY 17 MARCH

Graham Kirkham may strike a deal to sell his UK sofa retailer DFS for more than GBP500m (USD751.3m/EUR552m) next week, as final bids are expected by 17 March.

Status: Bidding

- INDEPENDENT NEWS & MEDIA TRIMS STAKE IN JAGRAN PRAKASHAN

Dublin-based newspaper publisher Independent News & Media (ISE:IPD) has sold 23.5 million shares or 7.8% in Indian sector player Jagran Prakashan (BOM:532705), thus cutting its stake to 5.7% from the previous 13.5%.

Status: Closed

- DAIMLER CONFIRMS DIVESTMENT OF TATA MOTORS STAKE

German car maker Daimler (ETR:DAI) has confirmed it has sold its 5.34% stake in India's automotive group Tata Motors (BOM:500570) to various investors for EUR300m (USD407.6m) in cash.

Status: Closed

- UK PARVUS CUTS SWEDISH MATCH STAKE TO 6.6%

London-based company Parvus Asset Management has decreased its shareholding in tobacco products maker Swedish Match (STO:SWMA) to 6.6% from 7.9%.

Status: Closed

- US CORETECH BUYS STAFFING SERVICES CO

US private mergers and acquisitions advisory firm The March Group (TMG) said that CoreTech Consulting Group has bought the assets of an unnamed consulting and staffing service provider which is a client of TMG.

Status: Closed

- GOLF TRUST SHAREHOLDERS OKAY MERGER WITH PERNIX THERAPEUTICS

Golf Trust of America (AMEX:GTA), a former golf course investor, said its shareholders have approved the proposed merger with US specialty pharmaceutical maker Pernix Therapeutics.

Status: Agreed

- LYONDELLBASELL REJECTS INDIAN RELIANCE'S TAKEOVER BID

Bankrupt Dutch petrochemicals company LyondellBasel has rejected the takeover bid of Indian energy giant Reliance Industries (BOM:500325) and filed a restructuring plan instead.

Status: Terminated

- POLAND'S TREASURY SELLS 46.7% OF COAL MINER BOGDANKA TO FUNDS

The Polish treasury ministry has disposed of 46.7% in coal miner Bogdanka (WAR:LWBA) to open-end pension funds for PLN70.5 (USD25/EUR18.2) per share, or a total PLN1.1bn.

Status: Closed

- 44 DUTCH COS MAKE ACQUISITIONS IN EMERGING COUNTRIES IN 2009

A total of 44 Dutch companies made acquisitions in emerging countries in 2009.

Status: Closed

- US CARRIER TO OFFLOAD AUSTRALIAN BRIVIS

US HVAC equipment and refrigeration systems maker Carrier, part of United Technologies Corp (NYSE:UTX), will sell its Australian heating and air-conditioning business Brivis to fixtures and fittings supplier GWA International (ASX:GWT) in Australia.

Status: Agreed

- PHILIPS WRAPS UP STAKE REDUCTION IN TPV TECHNOLOGY

Dutch Royal Philips Electronics (AMS:PHIA) has completed the sale of a stake of some 9.5% in Hong Kong-based TPV Technology (HKG:0903), reducing its participation in the company to below 3%.

Status: Closed

- UK'S ARK THERAPEUTICS CONSIDERS TAKEOVER OFFERS, WITHDRAWS CEREPRO APPLICATION

The board of UK drug maker Ark Therapeutics (LON:AKT) announced it had abandoned plans to sell brain cancer treatment Cerepro in Europe, and was reviewing options for the company, including a sale.

Status: Talks

- UK SHANKS REJECTS CARLYLE BID, ENDS TALKS

UK waste management company Shanks (LON:SKS) has abandoned talks on its sale to investment firm Carlyle, after dismissing Carlyle's GBP1.20 (USD1.8/EUR1.3) per-share offer as too low.

Status: Terminated

- INFOGROUP CONFIRMS BUYOUT DEAL WITH CCMP CAPITAL

US data and marketing service provider Infogroup (NASDAQ:IUSA) confirmed it has agreed to be acquired by private equity firm CCMP Capital Advisors in a USD-635-million (EUR466m) deal including refinancing of the company's debt.

Status: Agreed

- FRENCH SANOFI-AVENTIS, US MERCK AGREE ON ANIMAL HEALTHCARE JV

French pharmaceuticals group Sanofi-Aventis (EPA:SAN) and US peer Merck & Co (NYSE:MRK) announced an agreement to set up a 50/50 animal care joint venture, to be one of the global sector leaders.

Status: Agreed

- DUTCH ARCADIS TO KEEP FOCUS ON ACQUISITIONS

Dutch engineering consultancy Arcadis (AMS:ARCAD) said it would continue exploring takeover opportunities after the acquisition of US sector firm Malcolm Pirnie in 2009.

Status: Bidding

- SWISS SGS BUYS VERILAB IN CHILE

Swiss inspection, verification, testing and certification company SGS (VTX:SGSN) has acquired privately owned Verilab in Chile for an undisclosed price.

Status: Closed

- BROADCOM WRAPS UP ACQUISITION OF TEKNOVUS FOR USD123M

US chip maker Broadcom (NASDAQ:BRCM) has wrapped up the purchase of local chipset and software provider Teknovus for USD123m (EUR90.2m) in cash.

Status: Closed

- AIG EXPECTED TO ANNOUNCE USD15.5BN SALE OF ALICO TO METLIFE

US insurer AIG (NYSE:AIG) is expected to announce a USD-15.5-billion (EUR11.3bn) deal to sell its foreign life insurance unit to sector player MetLife (NYSE:MET).

Status: Agreed; Speculation

- BELGIAN NPM/CNP TO OFFLOAD ICE CREAM UNIT

Belgian holding company NPM/CNP will put up for sale its unit Belgian Icecream Group (BIG).

Status: Auction

- HBOS INTEGRATED FINANCE MAY BE SOLD THIS WEEK TO COLLER CAPITAL

Global private equity firm Coller Capital is leading the race for HBOS Integrated Finance, the last investment asset of UK bank HBOS, and a deal may be struck this week.

Status: Speculation; Bidding

- UK'S PEEL IN TALKS TO SELL AIRPORTS UNIT TO FUND BID FOR FORTH PORTS

UK diversified group Peel wants to sell a stake in its airports unit, Peel Airports, to finance a joint-offer for home ports operator Forth Ports (LON:FPT).

Status: Talks; Bidding

- GERMANY'S MERCK EYES FURTHER BUYS - CEO

German pharmaceuticals and chemicals company Merck (ETR:MRK) is looking to make further buys after agreeing in February to acquire US life science researcher Millipore (NYSE:MIL).

Status: Bidding

- BANK OF SHARJAH, BNP IN TALKS ON PRIVATE BANKING JV

UAE's Bank of Sharjah (ABD:BOS) is negotiating to team up with French lender BNP Paribas (EPA:BNP) in a joint venture which would offer private banking services in the Middle East.

Status: Talks

- SHELL, PETROCHINA PLACE JOINT BID FOR ARROW ENERGY

Royal Dutch Shell (AMS:RDSA, LON:RDSA) and PetroChina (SHA:601857) have made a joint bid, worth at least USD3bn (EUR2.2bn), to buy Australian Arrow Energy (ASX:AOE).

Status: Bidding; Talks

- INDIAN ESSAR SAID TO BUY TRINITY COAL

Indian steel maker Essar is in talks to buy US coal producer Trinity Coal from private equity firm Denham Capital for between USD550m (EUR402.2m) and USD600m, seeking to further expand its diversified business.

Status: Talks

- DUTCH VASTNED RETAIL CLOSE TO BUY TWO PROPERTIES IN TURKEY

Dutch real-estate firm VastNed Retail (AMS:VASTN) is nearing a deal to buy two retail properties in Turkey.

Status: Talks

- UK BIFFA PLANS SALE OF LANDFILL GAS OPS

UK waste management company Biffa has intentions to sell its landfill gas operations for a targeted price of some GBP350m (USD530.5m/EUR387.9m).

Status: Auction; Speculation

- SANTANDER, BBVA KEEN ON BUYING GE'S 20.8% STAKE IN TURKISH GARANTI

Spanish commercial banks Santander (MCE:SAN) and BBVA (MCE:BBVA) are among the bidders for the 20.8% stake of General Electric (NYSE:GE) in Turkish Garanti Bank (IST:GARAN).

Status: Bidding

- FIDELITY TO DISPOSE OF 2% IN MULTI COMMODITY EXCHANGE OF INDIA

Fund manager Fidelity International will offload a 2% stake in commodity bourse Multi Commodity Exchange of India to meet the threshold of 5% for foreign shareholders.

Status: Speculation; Agreed

- FARKAS PLANS TO BUY CENTERLINE HOLDING

US property investor Andrew Farkas is preparing to acquire real estate financial and asset management services provider Centerline Holding Co (OTCBB:CLNH) for USD100m (EUR73.3m).

Status: Agreed; Speculation

- FINMECCANICA TO PICK A BUYER FOR MINORITY IN ANSALDO ENERGIA SOON

Italian aerospace and defence group Finmeccanica (BIT:FNC) will announce the name of the buyer of a minority stake in Ansaldo Energia in a month and a half at the latest.

Status: Talks

- DAIMLER OFFERS FOR SALE 5.34% OF TATA MOTORS FOR USD429M

German carmaker Daimler (ETR:DAI) is selling 5.34% in Indian sector company Tata Motors (BOM:500570) at a discount of 4% to 7% to the Monday price.

Status: Auction

- SCOTLAND'S RANGERS FC CONFIRMS TAKEOVER OFFER TALKS

Scotland's premier league football club the Rangers (LON:RFC) confirmed that its main shareholder Murray International Holdings is in talks to sell its stake in the club and that the discussions may lead to an offer for the entire club.

Status: Talks

- UK COVENTRY, STROUD & SWINDON CONFIRM MERGER TALKS

The boards of UK building societies Coventry (LON:CVB) and Stroud & Swindon confirmed media reports that they were in merger talks, adding that there was no guarantee at this point that a deal would be sealed.

Status: Talks

- ANGLO AMERICAN GETS STRONG INTEREST FOR ZINC OPS

UK-based miner Anglo American (LON:AAL) said its zinc operations attracted strong interest, but declined to confirm home rival Vedanta Resources (LON:VED) and Canadian miner HudBay Minerals (TSE:HBM) as the two bidders leading the race.

Status: Bidding

- GREECE'S MARFIN INVESTMENT NEGOTIATES SALE OF BAKERY, SNACK OPS

Greek investment holding Marfin Investment Group (ATH:MIG) confirmed it was in talks on the sale of its bakery and snack unit with Saudi Arabia's Olayan Group in partnership with Greek businessman Spyros Theodoropoulos.

Status: Talks

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