News

        M&A Navigator: Deal pipeline - 29 May

        Source:M&A Navigator Date:2014-06-02 11:51:59

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

        - FARMLAND PARTNERS TO PAY USD24.5M FOR HUDYE FARMS US

        US row crop farmland owner Farmland Partners Inc (NYSEMKT:FPI) said it had struck a deal to take over sector player Hudye Farms US Inc for USD24.5m (EUR18m).

        Status: Agreed

        - TYSON FOODS OFFERS USD6.8BN FOR HILLSHIRE BRANDS

        US food producer Tyson Foods Inc (NYSE:TSN) said it offered to buy domestic peer The Hillshire Brands Company (NYSE:HSH) for USD50.00 (EUR36.77) a share in cash, or an aggregate USD6.8bn.

        Status: Bidding

        - IPC BUYS HOSPITALIST SERVICES PROVIDER IN KANSAS

        US hospitalist services provider IPC The Hospitalist Company Inc (NASDAQ:IPCM) said it had taken over Wichita, Kansas-based sector player Eastside Medical Consultants LLC (EMC).

        Status: Closed

        - SEAGATE TO BUY FLASH OPERATIONS FROM AVAGO FOR USD450M

        Irish Seagate Technology plc (NASDAQ:STX) will buy US-basedLSI Corp’sAccelerated Solutions Division (ASD) and Flash Components Division (FCD) from Singaporean semiconductor device firm Avago Technologies Ltd (NASDAQ:AVGO) for USD450m (EUR330.5m) in cash, the pair said.

        Status: Agreed

        - MRC GLOBAL BUYS VALVE, VALVE AUTOMATION SPECIALIST IN SINGAPORE

        US pipe, valves and fittings distributor MRC Global Inc (NYSE:MRC) said its Singapore unit, MRC Transmark Pte Ltd, had bought Singapore-based valve and valve automation solutions provider MSD Engineering Pte Ltd.

        Status: Closed

        - RAKUTEN MARKETING BUYS UK TECHNOLOGY COMPANY DC STORM

        US digital marketing technology and services company Rakuten Marketing said it had taken over UK-based technology company DC Storm.

        Status: Closed

        - MARCATO CALLS ON IHG BOARD TO CONSIDER COMBINATION WITH SECTOR PLAYER

        US Marcato Capital Management LP, which owns some 3.8% of UK hospitality firm InterContinental Hotels Group Plc (LON:IHG), urged IHG's board to explore an amalgamation with a bigger sector player, irrespective of the accuracy of recent media speculation that IHG rebuffed an unsolicited takeover bid.

        Status: Speculation, Bidding

        - GRANT HILL GROUP REPORTEDLY MAKES USD1.2BN OFFER FOR LA CLIPPERS

        A group including retired basketball player Grant Hill offered USD1.2bn (EUR881.4m) for the Los Angeles Clippers, competing with Steve Ballmer and other bidders.

        Status: Speculation, Bidding

        - PIVOVARY LOBKOWICZ TALKS FOR MESTANSKY BUY BREAK DOWN - REPORT

        Czech beer producer Pivovary Lobkowicz was keen on acquiring domestic sector player Mestansky Pivovar Havlickuv Brod but an agreement with the target’s principal investor could not be reached.

        Status: Talks, Speculation

        - AMSURG TO BUY SHERIDAN HEALTHCARE FOR USD2.35BN

        US ambulatory surgery centres operator Amsurg Corp (NASDAQ:AMSG) has agreed to take over domestic outsourced physician services provider Sheridan Healthcare Inc from buyout firm Hellman & Friedman LLC via a cash-and-stock deal worth USD2.35bn (EUR1.7bn).

        Status: Agreed

        - PAVILION FINANCIAL REVEALS DEAL FOR US LP CAPITAL ADVISORS

        Global investment services firm Pavilion Financial Corporation announced the acquisition of US investment consultancy LP Capital Advisors (LPCA) for an undisclosed amount.

        Status: Agreed

        - AEP SAYS MAY DECIDE ON UNREGULATED ACTIVITIES OFFLOAD BY EARLY 2015

        US power utility American Electric Power Company Inc (NYSE:AEP) may decide on a sale of unregulated generation arm AEP Generation Resources by early 2015, if the unit’s stability does not increase.

        Status: Auction

        - BAKKEN UNVEILS LOI ON JV WITH INDIGO RESOURCES

        US Nations Oil and Gas, a fully-controlled unit of Bakken Energy Corp (OTCMKTS:ORFG), has inked a letter of intent (LoI) with domestic Indigo Resources Ltd to establish a joint venture for the purpose of accessing assets in oil and gas related properties in the Uinta Basin, Bakken said.

        Status: Exclusivity

        - RBS REPORTEDLY TO SELL STAKE IN PE UNIT FOR GBP100M

        UK Royal Bank of Scotland Group Plc (LON:RBS), or RBS, has struck a GBP100m (USD167.2m/EUR122.8m) deal to divest its minority stake in private equity unit RBS Special Opportunities Fund to an investor group led by US private equity firm Adams Street Partners LLC.

        Status: Speculation

        - WILLIS CLOSES BUY OF CHARLES MONAT

        UK global risk adviser and insurance and reinsurance broker Willis Group Holdings Plc (NYSE:WSH) said it had closed its acquisition of Asian life insurance solutions provider Charles Monat Ltd, after the Monetary Authority of Singapore greenlighted the deal.

        Status: Closed

        - PINKSTON GROUP BUYS WEB DESIGN COMPANY BURST CREATIVE

        US public relations firm The Pinkston Group said it had taken over domestic web design company Burst Creative, without disclosing financial details.

        Status: Closed

        - APG TO INJECT UP TO USD650M INTO WAREHOUSING DEVELOPER E-SHANG

        Dutch pension fund asset manager APG Asset Management NV said it would invest as much as USD650m (EUR477.7m) to buy some 20% in Chinese warehousing developer and operator e-Shang and set up a strategic joint venture for logistics real estate in China.

        Status: Agreed

        - LACHINA ANNOUNCES BUY OF PRECISION GRAPHICS

        US educational content, technology and services company Lachina said it had taken over domestic Precision Graphics, which develops and illustrates visual content for learning products.

        Status: Closed

        - POPOLARE VICENZA PRESENTS TAKEOVER BID FOR BANCA ETRURIA

        Italian lender Banca Popolare di Vicenza SCpA said it proposed to acquire local sector player Banca Popolare dell'Etruria e del Lazio Sc (BIT:PEL), or Banca Etruria, via a public tender offer of EUR1.00 (USD1.36) a share in cash.

        Status: Bidding

        - MAPEI AMERICAS BUYS GENERAL RESOURCE TECHNOLOGY

        MAPEI Americas, part of Italy-based chemical products, admixtures and coatings specialist MAPEI Group, said it had bought US concrete admixtures and auxiliary products firm General Resource Technology Inc (GRT), making its entrance into the US concrete admixture market.

        Status: Closed

        - 3I GROUP ANNOUNCES SALE OF HILITE INTL TO CHINA'S AVIC

        UK private equity investor 3i Group Plc (LON:III) unveiled the sale of US high-tech auto components and systems supplier Hilite International Inc to AVIC Electromechanical Systems Co Ltd (SHE:002013), or AVICEM, a unit of Chinese conglomerate Aviation Industry Corporation of China (AVIC), in a deal with an enterprise value of some EUR473m (USD644m).

        Status: Agreed

        - MITCHELLS & BUTLERS HOLDS EXCLUSIVE TALKS TO BUY MAJORITY OF ORCHID

        UK pub company Mitchells & Butlers plc (LON:MAB) said it had entered into exclusive talks to acquire the majority of the Orchid Group's estate, thus confirming recent press speculation.

        Status: Talks, Exclusivity

        - KING WORLDWIDE INVESTOR RELATIONS BECOMES PART OF ORIENT CAPITAL

        Australian investor relations firm Orient Capital Pty Ltd said it had taken over UK specialist capital markets intelligence company King Worldwide Investor Relations, without disclosing the value of the deal.

        Status: Closed

        - HML BUYS AF&A BLOCK PROPERTY MANAGEMENT BUSINESS

        UK property management solutions provider HML Holdings plc (LON:HMLH) said it had bought the block property management business of domestic sector player Alan Foster & Associates for up to GBP434,000 (USD726,000/EUR534,000).

        Status: Closed

        - FUTURE TO SELL SPORT AND CRAFT TITLES PORTFOLIO TO IMMEDIATE MEDIA COMPANY BRISTOL

        UK media and digital group Future plc (LON:FUTR) said it had inked a deal to divest a portfolio of sport and craft titles to Immediate Media Company Bristol Ltd for up to GBP24m (USD40.1m/EUR29.5m).

        Status: Agreed

        - MAN GROUP SAYS DISCUSSING POTENTIAL DEAL FOR NUMERIC

        UK alternative investment manager Man Group plc (LON:EMG) said it is negotiating a potential deal to buy US money manager Numeric Holdings LLC.

        Status: Talks

        - SHAREHOLDERS OF TORTOISE CAPITAL'S MLP CLOSED-END FUNDS BACK MERGER

        US investment manager Tortoise Capital Advisors LLC said that the shareholders of Tortoise Energy Infrastructure Corp (NYSE:TYG), Tortoise Energy Capital Corp (NYSE:TYY) and Tortoise North American Energy Corp (NYSE:TYN) had supported the proposed merger of the three master limited partnership (MLP) closed-end funds.

        Status: Agreed

        - AUDAX PRIVATE EQUITY’S WINCHESTER ELECTRONICS WRAPS UP TRU BUY

        US connectivity solutions maker Winchester Electronics Corporation, a portfolio company of Audax Private Equity, said it had closed its acquisition of domestic sector player TRU Corporation, without providing financial details.

        Status: Closed

        - UPC INSURANCE TERMINATES LOI TO PURCHASE SUNSHINE STATE INSURANCE

        US United Insurance Holdings Corp (NASDAQ:UIHC), or UPC Insurance, said it had terminated its non-binding letter of intent (LoI) to take over local property and casualty insurer Sunshine State Insurance Company (SSIC).

        Status: Terminated

        - CHART INDUSTRIES CLOSES BUY OF HEAT EXCHANGER BUSINESS IN CHINA

        US Chart Industries Inc (NASDAQ:GTLS), a supplier of equipment for the production of industrial gases, said it had closed its acquisition of the brazed aluminum heat exchanger (BAHX) activities of Chinese firm Wuxi City Zhongbo Heat Exchanger Co Ltd for an undisclosed sum.

        Status: Closed

        - REDEEM HOLDINGS BUYS SPAIN'S MOBILEPOINT, INSITU MOVILES

        UK mobile recycling company Redeem Holdings Limited said it had bought Spanish mobile recommerce services providers Eco Mobile Green Centre SL, operating as Mobilepoint, and Insitu Moviles SL from owner Alfonso Gil, expanding its European footprint.

        Status: Closed

        - SHETTY TEAMS UP WITH CENTURION TO BUY TRAVELEX

        Entrepreneur B R Shetty and UAE-based private equity firm Centurion Investments said they had agreed to purchase UK retail foreign exchange company Travelex Holdings Ltd from shareholders including buyout firm Apax Partners and founder and chairman Lloyd Dorfman for an undisclosed amount.

        Status: Agreed

        - APEX RESTAURANT MANAGEMENT CLOSES MORGAN'S FOODS BUY

        US Apex Restaurant Management Inc has closed its USD5.00 (EUR3.68) per share cash acquisition of domestic restaurant operator Morgan's Foods Inc (OTCMKTS:MRFD), the companies said in a joint statement.

        Status: Closed

        - APPLE AGREES USD3BN DEAL FOR BEATS

        Apple Inc (NASDAQ:AAPL) unveiled a USD3bn (EUR2.2bn) deal to buy subscription streaming music service Beats Music and the popular Beats headphones, speakers and audio software maker Beats Electronics from co-founders Jimmy Iovine and Dr Dre, who will join Apple.

        Status: Agreed

        - TESCO COMPLETES CHINESE JV WITH CRE

        UK retailer Tesco Plc (LON:TSCO) said it completed its joint venture deal with Chinese peer China Resources Enterprise Ltd (HKG:0291), or CRE, to create a top multi-format retailer in China, after having secured clearance in China earlier this month.

        Status: Closed

        - AUTOMIC CLOSES ORSYP PURCHASE

        Business automation solutions provider Automic said it had finalised the acquisition of French IT operations software specialist ORSYP SAS for an unspecified amount.

        Status: Closed

        - LIVE BETTER BRANDS BUYS BIOESSENTIAL BOTANICALS

        US all-natural snacks maker Live Better Brands LLC said it had taken over Canadian sprouted food manufacturer BioEssential Botanicals Inc from founders Dennis and Gail Barker, as part of efforts to further grow its sprouted foods category.

        Status: Closed

        - CARIGE FOUNDATION STILL PURSUES SALE OF BANCA CARIGE STAKE - REPORT

        Banca Carige SpA’s (BIT:CRG) top shareholder, the Carige banking foundation is still trying to sell a portion of its interest in the Italian lender.

        Status: Auction, Speculation

        - ILC DOVER TAKES OVER SWISS JETSOLUTIONS

        US ILC Dover LP, a provider of disposable processing and powder containment systems serving the pharmaceutical segment, said it had bought Swiss powder and liquid mixing and processing specialist JetSolutions SA for an undisclosed amount.

        Status: Closed

        - TRANSCOM EXITS CZECH CMS BUSINESS

        Luxembourg-based business process outsourcing (BPO) provider Transcom Worldwide SA (STO:TWW-SDB-A) said it had sold its credit management services (CMS) business in the Czech Republic to Express Group for EUR2.1m (USD2.9m).

        Status: Closed

        - HENRY SCHEIN BUYS 50% IN BRAZILIAN DENTAL SPEED GRAPH

        US healthcare group Henry Schein Inc (NASDAQ:HSIC) said it had bought 50% in Brazilian dental consumable merchandise provider Dental Speed Graph, making its entrance into South America.

        Status: Closed

        - GLASS LEWIS ADVISES DFC SHAREHOLDERS TO VOTE FOR DEAL WITH LONE STAR

        US DFC Global Corp (NASDAQ:DLLR), a non-bank provider of alternative financial services, said the independent proxy voting and corporate governance advisor Glass Lewis recommended DFC shareholders to vote in favour of the agreed deal to be taken private by an affiliate of Lone Star Funds, at their meeting on 6 June.

        Status: Agreed

        - ALLERGAN SAYS TO REVIEW VALEANT'S REVISED OFFER

        US multispeciality healthcare company Allergan Inc (NYSE:AGN) said its board would consider the revised, unsolicited offer received from Canadian suitor Valeant Pharmaceuticals International Inc (TSE:VRX; NYSE:VRX) and make a decision that best serves the interest of its shareholders.

        Status: Bidding

        - ST JUDE MEDICAL TO BUY OUT CARDIOMEMS FOR USD375M

        US medical device company St Jude Medical Inc (NYSE:STJ) said it would immediately exercise an exclusive option to buy out the remaining 81% stake it did not already own in local sector player CardioMEMS Inc for USD375m (EUR275.6m).

        Status: Agreed

        - ELLOMAY TO PAY EUR9.5M FOR SPANISH PHOTOVOLTAIC OPERATIONS

        Israeli solar power producer Ellomay Capital Ltd (NYSEMKT:ELLO) said it signed a binding letter of intent (LoI) to acquire photovoltaic operations in Spain for some EUR9.5m (USD12.9m) from an unnamed Spanish company.

        Status: Exclusivity

        - POTENTIAL SIEMENS, ALSTOM DEAL SEEN AS CASE FOR EC PROBE

        A potential deal between German technology company Siemens AG (ETR:SIE) and French trains and power plant maker Alstom SA (EPA:ALO) would be examined by the European Commission (EC).

        Status: Bidding

        - GOLDMAN REPORTEDLY HELPING SELL MYTHERESA

        Goldman Sachs Group Inc (NYSE:GS) has been hired to scout for a buyer for German high-end women’s fashion online retailer Mytheresa.

        Status: Auction, Speculation

        - GE IMPROVES TERMS OF ALSTOM BID

        US conglomerate General Electric Company (NYSE:GE) has offered more favourable terms under its USD16.9bn (EUR12.4bn) binding bid for French trains and power plant maker Alstom SA’s (EPA:ALO) grid unit and power business.

        Status: Delayed, Bidding

        - PILGRIM’S PRIDE OFFERS TO BUY HILLSHIRE BRANDS FOR USD6.4BN

        US chicken producer Pilgrim’s Pride Corporation (NASDAQ:PPC) unveiled a proposal to buy domestic food products maker The Hillshire Brands Company (NYSE:HSH) at USD45.00 (EUR32.98) per share in cash, or USD6.4bn in total.

        Status: Bidding

        - INTERCONTINENTAL REPORTEDLY REBUFFS USD10BN TAKEOVER OFFER FROM US

        The board of UK hospitality specialist InterContinental Hotels Group Plc (LON:IHG) has rejected a takeover offer for some GBP6bn (USD10.1bn/EUR7.4bn) from a US company as too low.

        Status: Speculation

        - FCC REPORTEDLY VYING FOR PORTUGAL’S EMPRESA GERAL DO FOMENTO

        Spanish construction and environmental services firm Fomento de Construcciones y Contratas SA (BME:FCC) has put in a non-binding offer for Portuguese state-run Empresa Geral do Fomento (EGF), engaged in the management of waste removal and treatment operations, alongside six other bidders.

        Status: Bidding, Speculation

        - UNISHIPPING SAYS UNIT BAJA FERRIES NEGOTIATING BUY OF TRANSDEV’S 66% IN SNCM

        Ferry operator Baja Ferries, part of French shipping group Unishipping, is conducting discussions to buy the 66% interest in French sector player Societe Nationale Maritime Corse Mediterranee (SNCM) held by transporter Transdev and its proposal seems well accepted by the latter.

        Status: Talks

        - TAMEDIA RAISES PUBLIGROUPE OFFER

        Swiss media company Tamedia AG (SWX:TAMN) said it had sweetened its buyout offer for local marketing group Publigroupe SA (SWF:PUBN) to CHF190.00 (USD212.36/EUR155.53) per share from CHF150.00.

        Status: Bidding

        TypeInfo: Media Reports

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