M&A Navigator: Deal pipeline - 11 January.
The following is a list of deals covered in detail by M&A Navigator this week:
- RANDALL & QUILTER BUYS CAPTIVE INSURER HIL
UK non-life insurance investor Randall & Quilter Investment Holdings Plc (LON:RQIH) said it had bought Isle of Man-based captive insurer Hickson Insurance Limited (HIL) from Hickson Investments Limited for GBP525,000 (USD846,000/EUR634,000).
- ROMA RESTAURANT INVESTMENTS BUYS FAST FRESH ITALIAN
Roma Restaurant Investments LLC, owned by US venture capital firm DiNella Hospitality LLC, said it had acquired US Fast Fresh Italian LLC, the owner of the Go Roma group of fast casual Italian restaurants in the Chicago land area.
- VISTEON TO DIVEST MOST OF AUTOMOTIVE CLIMATE BUSINESS TO HCC
US car parts supplier Visteon Corp (NYSE:VC) unveiled a definitive deal to sell most of the company's automotive climate business to its majority-owned Korean unit Halla Climate Control Corp (KRX:018880), or HCC, for USD410m (EUR307.6m) in cash.
- ACRON TO TAKE FULL CONTROL OF VERKHNEKAMSK POTASH UNIT BY 2024
Russian mineral fertiliser producer Acron OAO (MCX:AKRN) said it will seek to buy out the minority interests in its unit Verkhnekamsk Potash Company CJSC between 2019 and 2024.
- CATALYST TO BUY REED ELSEVIER AUSTRALIAN UNIT
Australian private equity firm Catalyst Investment Managers Pty Ltd said it had agreed to buy media firm Reed Business Information Australia (RBIA) from Reed Business Information Ltd, part Anglo-Dutch publisher and professional information provider Reed Elsevier Group PLC (LON:REL, AMS:REN).
- STRATMIN POSTS CIRCULAR ABOUT GRAPHMADA BUYOUT
UK natural resources investor Stratmin Global Resources Plc (LON:STGR) said it had sent a circular to its shareholders about the planned GBP25.5m (USD41.2m/EUR30.8m) all-stock purchase of the remaining 85% not yet owned in Madagascar's graphite miner Graphmada Equity Pte Ltd.
- CONAGRA OBTAINS HSR CLEARANCE TO ACQUIRE RALCORP
US-based ConAgra Foods Inc (NYSE:CAG) and its food producing takeover target Ralcorp Holdings Inc (NYSE:RAH) announced the waiting period under the Hart-Scott-Rodino (HSR) act with regard to their tie-up had expired yesterday.
- NORDIC AMERICAN TANKERS CLOSES BUY OF US MANAGEMENT COMPANY
Bermuda-headquartered tanker company Nordic American Tankers Ltd (NYSE:NAT) said it had wrapped up the previously announced purchase of its management company Scandic American Shipping Ltd.
- JC FLOWERS TO TRIM INTEREST IN BTG PACTUAL - REPORT
US private equity firm JC Flowers & Company LLC is selling 40% of its interest in Brazilian investment bank BTG Pactual Group.
- TNT, UPS REAFFIRM COMMITMENT TO DEAL DESPITE EC CONCERNS
Dutch express delivery company TNT Express NV (AMS:TNT) said that it together with its suitor, US peer United Parcel Service Inc (NYSE:UPS), remained committed to their planned combination despite the concerns voiced by European Commissioner Joaquin Almunia.
- GREEK NBG'S ALL-STOCK OFFER FOR EUROBANK TO RUN UNTIL 15 FEB
The National Bank of Greece SA (ATH:ETE), or NBG, said its all-stock bid to take over Eurobank Ergasias SA (ATH:EUROB) will be launched today and will expire on 15 February.
- RUSSIAN REGULATOR CLEARS MAKFA OWNER TO BUY LION'S SHARE IN KALANCHAKSKY BREAD PLANT
11 January 2013 - Russia's antitrust watchdog has given the green light to domestic pasta maker Makfa OAO's main stockholder, Valery Yurevich, to acquire a 76.3% interest in Ukraine's Kalanchaksky bread baking facility.
- TRINITY MIRROR RECEIVES INVESTMENT APPROACH FOR SUNDAY PEOPLE
UK newspaper publisher Trinity Mirror Plc (LON:TNI) said it had received an approach from an unidentified group of investors interested in investing in and developing its Sunday People tabloid business.
- CITIC TELECOM SECURES LOAN FOR CTM ACQUISITION - REPORT
Seven lenders have backed a syndicated loan of more than USD1bn (EUR753m) to Hong Kong-based telecommunications service provider CITIC Telecom International Holdings Ltd (HKG:1883) for a takeover of Macau broadband operator Companhia de Telecomunicacoes de Macau SARL (CTM).
- PE FIRMS NEGOTIATE USD400M BUY OF MAJORITY IN ALLIANCE TIRE - REPORT
A number of private equity firms are separately holding advanced discussions to acquire a majority interest in Alliance Tire Group (ATG) from Warburg Pincus LLC for some USD400m (EUR301.6m).
- ZURICH, ALLIANZ, JAPANESE FIRMS TARGET TURKEY'S YAPI KREDI - REPORT
The auction for the insurance arm of Turkish lender Yapi ve Kredi Bankasi AS (IST:YKBNK) has lured Dai-ichi Life Insurance Co Ltd (TYO:8750), Sompo Japan Insurance Inc, Zurich Insurance Group Ltd (VTX:ZURN) and Allianz SE (ETR:ALV).
Status: Bidding, Speculation
- STADA EXPECTS TAKEOVER INTEREST DUE TO STRONG RUSSIAN UNIT
German pharmaceutical company Stada Arzneimittel AG (ETR:SAZ) said it expects to attract takeover interest due to the strength of its Russian unit.
- TRAKYA CAM SANAYII TO BUY INTO HNG FLOAT GLASS UNDER JV ACCORD
Indian container glass producer Hindusthan National Glass & Industries Ltd (HNGIL) and other promoters of domestic float glass maker HNG Float Glass Ltd have inked a joint venture accord with Trakya Cam Sanayii AS, pursuant to which the Turkish sector player will buy into HNG Float Glass, according to a filing with the Bombay stock exchange.
- THAI CP GROUP DENIES INVOLVEMENT OF THIRD PARTY IN PING AN DEAL
Thailand's Charoen Pokphand Group Co Ltd (CP Group) today denied recent reports that the units of the industrial conglomerate which are purchasing HSBC Holdings Plc's (LON:HSBA) stake in Ping An Insurance (Group) Co of China Ltd (HKG:2318) are actually acting on behalf of a third party.
- GRANAROLO TO BUY FRANCE'S CIPF CODIPAL
Italian dairy producer Granarolo SpA said it had agreed to acquire French cheese maker CIPF Codipal SAS from holding group Compagnie du Forum SAS.
- PRAKTIKER IS NOT NEGOTIATING AMALGAMATION WITH BAUMAX - REPORT
German do-it-yourself (DIY) supplies retailer Praktiker AG (ETR:PRA) is not in discussions with Austrian peer Baumax AG over a merger or tie-up.
Status: Speculation, Denied
- MITSUBISHI UFJ DRAWS UP US ACQUISITION LIST - REPORT
Japanese financial major Mitsubishi UFJ Financial Group Inc (TYO:8306) has pinpointed potential takeover targets in the United States in a bid to beef up its network and commercial banking operations.
- IGC LEADS USD30M FINANCING TO GUAVUS
Investor Growth Capital (IGC) has led a USD30m (EUR22.6m) round of funding to Guavus Inc, the US big data analytics solutions provider said.
- TELETECH UNVEILS TSG BUY
US business process outsourcing (BPO) solutions provider TeleTech Holdings Inc (NASDAQ:TTEC) said it had taken over domestic sector firm Technology Solutions Group Inc (TSG) for an unspecified amount.
- COVIDIEN FINALISES CV INGENUITY BUY
Irish healthcare products manufacturer Covidien plc (NYSE: COV) said it had wrapped up its takeover of CV Ingenuity Corp.
- GEORGIA GULF HOLDERS APPROVE SHARE ISSUE RELATED WITH PPG DEAL
US chlorovinyl and aromatic chemicals maker Georgia Gulf Corp (NYSE:GGC) said its shareholders had cleared the stock issuance that is part of the company's planned tie-up with the commodity chemicals business of PPG Industries Inc (NYSE:PPG).
- MECOM GETS TAKEOVER APPROACHES FOR DUTCH, POLISH, DANISH UNITS
UK publisher Mecom Group Plc (LON:MEC) said that a number of parties had expressed interest in taking over its Dutch, Polish and Danish operations.
Status: Talks, Exclusivity
- DIGITAL RIVER WRAPS UP LML PAYMENT SYSTEMS BUY
US cloud-commerce and marketing solutions specialist Digital River Inc (NASDAQ: DRIV) said it had closed its cash takeover of Canadian financial payment processing solutions provider LML Payment Systems Inc (NASDAQ:LMLP).
- IMPREGILO SELLS REST OF ECORODOVIAS TO BTG PACTUAL
Italian builder Impregilo SpA (BIT:IPG) unveiled a deal for the sale of its remaining 6.5% in Brazilian logistics group Ecorodovias Infraestrutura e Logistica SA (SAO:ECOR3) to local investment bank BTG Pactual.
- TELEFONICA SELLS 7.2% HISPASAT STAKE TO ABERTIS
Spanish telecom major Telefonica SA (MCE:TEF) said that it, via its Telefonica de Contenidos SAU unit, had sold a 7.2% stake in satellite operator Hispasat SA to infrastructure manager Abertis Infraestructuras SA (MCE:ABE) for EUR68m (USD90.2m) in cash.
Status: Agreed, Closed
- EDF GETS US470M FROM SALE OF EXELON STAKE
French power utility Electricite de France SA (EPA:EDF) said it had existed its non-strategic investment in US energy group Exelon Corp (NYSE:EXC) for a gross consideration of some USD470m (EUR355m).
- MERIT CAPITAL'S US MINERALS BUYS ATI BLACK DIAMOND GRANULES
US private equity firm Merit Capital Partners' portfolio company US Minerals Inc has taken over domestic roofing shingle granules and sandblasting abrasives maker ATI Black Diamond Granules Inc for an undisclosed sum, the acquired company said.
- 3I GROUP PLANS FOUR MORE EXITS AFTER NORMA - REPORT
UK private equity investor 3i Group plc (LON:III) is looking to dispose of four more firms after exiting German engineered joining technology solutions provider NormaGroup AG (ETR:NOEJ).
- BEXIL AMERICAN MORTGAGE TAKES CONTROL OF CASTLE MORTGAGE CORP
US mortgage bank Bexil American Mortgage Inc, part of Bexil Corp (PINK:BXLC), said it had taken over regional mortgage lender Castle Mortgage Corp, without disclosing the value of the transaction.
- MOHAWK INDUSTRIES CLOSES USD150M PURCHASE OF PERGO
US floor covering products supplier Mohawk Industries Inc (NYSE: MHK) said it had completed the acquisition of Swedish sector player Pergo AB for USD150m (EUR113.1m) in cash.
- MORPHOSYS WRAPS UP SALE OF ABD SEROTEC TO BIO-RAD
German biotech company Morphosys AG (ETR:MOR) said it had finalised the sale of antibody unit AbD Serotec Inc to US life science research and clinical diagnostic products firm Bio-Rad Laboratories Inc (NYSE:BIO).
- TOTAL TO REMAIN OPEN FOR FIRM BIDS FOR TIGF BY 4 FEB - REPORT
French oil and gas firm Total SA (EPA:FP) expects firm bids for its TIGF gas network and storage business, which is valuated at some EUR2.5bn (USD3.3bn), by 4 February 2013.
Status: Bidding, Speculation
- LEUCADIA TO BACK FIRST QUANTUM'S HOSTILE OFFER FOR INMET
US diversified holding group Leucadia National Corporation (NYSE: LUK) announced plans to tender its stake in Canadian miner Inmet Mining Corp (TSE:IMN) to the CAD5.1bn (USD5.2bn/EUR3.9bn) hostile bid by Vancouver-based First Quantum Minerals Ltd (TSE:FM) for Inmet.
- ICE COULD REPORTEDLY CONSIDER SALE INSTEAD OF IPO FOR EURONEXT
US futures exchange operator IntercontinentalExchange Inc (NYSE:ICE), which announced last month it would float Euronext after completing its USD8.2bn (EUR6.2bn) deal for the European stock market's parent NYSE Euronext (NYSE: NYX), could also decide to sell the business should it receive good offers for it.
- ATLANTIA SAID TO BUY GEMINA VIA EUR1.1BN CASH-AND-STOCK DEAL
Italian motorway builder and operator Atlantia SpA (BIT:ATL) will acquire domestic holding company Gemina SpA (BIT:GEM) via a cash-and-stock deal, valued at some EUR1.1bn (USD1.5bn).
- ROCKBRIDGE BUYS TRIAD RETAIL MEDIA
US private equity group Rockbridge Growth Equity LLC announced the acquisition of Triad Retail Media LLC, a Florida-based digital marketing agency serving the retail sector.
- WAVE FINALISES PURCHASE OF BLACK ROCK CABLE
US broadband and telephone services company WaveDivision Holdings LLC announced the closure of its deal to acquire Washington-based fibre optic connectivity provider Black Rock Cable Inc.
- VERISAE BECOMES MARLIN EQUITY PARTNERS PORTFOLIO COMPANY
US cloud-based services provider Verisae Inc said it had come under new ownership through its sale to Los Angeles-based private equity group Marlin Equity Partners LLC.
- SUPERVALU UNVEILS DEAL FOR SALE OF FIVE STORE CHAINS TO CERBERUS-LED GROUP
US grocery retailer Supervalu Inc (NYSE:SVU) said it had agreed to sell five store chains plus related pharmacies to a consortium led by private equity firm Cerberus Capital Management LP in a transaction worth some USD3.3bn (EUR2.5bn), including debt.
Status: Agreed, Bidding
- TELENET'S HIGHER RESULTS MAY PROMPT LIBERTY TO RAISE BID
US cable TV company Liberty Global Inc (NASDAQ:LBTYA) might need to sweeten its EUR1.96bn (USD2.6bn) bid for Belgian peer Telenet Group Holding NV (EBR:TNET) after its takeover target posted higher-than-expected revenues for 2012.
- BUNZL TO CONTINUE WITH ACQUISITIONS IN 2013
UK distribution and outsourcing group Bunzl Plc (LON:BNZL) has enough resources to continue purchasing businesses this year.
- FISHER COMMUNICATIONS SAYS MAY CONSIDER SALE
US integrated media firm Fisher Communications Inc (NASDAQ:FSCI) said it had picked Moelis & Company financial advisor and White & Case LLP and Perkins Coie LLP legal advisors to help it study potential strategic alternatives, which may include a sale.
- BOSKALIS SHAREHOLDERS BACK SHARE ISSUE TO PARTLY FUND DOCKWISE DEAL
Royal Boskalis Westminster NV (AMS:BOS) said its shareholders had approved a proposal concerning the issue of new shares, the proceeds of which would help the Dutch dredger finance its all-cash takeover bid for marine contractor Dockwise Ltd (AMS:DOCKW).
- SCHNEIDER ELECTRIC TO MAKE N AMERICAN, EUROPEAN BUYS IN 2013
The CEO of French power equipment maker Schneider Electric SA (EPA:SU), Jean-Pascal Tricoire, could mainly seek this year to acquire operations in North America and Europe, in a drive to beef up the company's capabilities in energy-management software.
- UPM-KYMMENE PUTS RUSSIA'S PESTOVO SAWMILL ON BLOCK
Finnish paper group UPM-Kymmene Oyj (HEL:UPM1V) said it had put up for sale its Pestovo sawmill business in Russia.
- EMERSON COULD MAKE SECOND APPROACH FOR INVENSYS - REPORT
US industrial group Emerson Electric Co (NYSE:EMR) could make another effort to acquire Invensys Plc (LON:ISYS), as the UK technology firm's stock could be interesting this year.
Status: Bidding, Speculation
- TURKISH GLOBAL YATIRIM TO CONSIDER OPTIONS FOR PORT UNIT
Turkish investment holding company Global Yatirim Holding AS (IST:GLYHO) said it had hired US investment bank JPMorgan Chase & Co (NYSE:JPM) to help it evaluate a potential divestment of its port subsidiary.
- COSALT DISCUSSES SALE OF OFFSHORE, WORKWEAR UNITS
Debt-laden UK safety equipment provider Cosalt plc (LON:CSLT) said it was in discussions to sell its offshore and workwear units to unnamed parties.
- SUN LIFE, KHAZANAH GET CLOSE TO CIMB AVIVA ASSURANCE TAKEOVER DEAL - REPORT
Canada's Sun Life Financial Inc (TSE:SLF) and Malaysian sovereign wealth fund Khazanah Nasional Bhd are in final discussions to take over CIMB Aviva Assurance Berhad, the insurance joint venture of Malaysian lender CIMB Group Holdings Bhd (PINK:CIMDF) and UK insurer Aviva Plc (LON:AV).
- GREEK PRIVATISATION AGENCY BACKS INITIAL DRAFT FOR OPAP'S STAKE SALE
The Hellenic Republic Asset Development Fund (HRADF), Greece's privatisation agency, said it had approved the initial draft agreement for the sale of a 33% stake in betting group Hellenic Football Prognostics Organisation SA (OPAP).
- CVC NEGOTIATES TAKING CONTROL OF PLDT'S SPI GLOBAL - REPORT
UK buyout firm CVC Capital Partners Ltd is holding exclusive discussions to acquire an 80% interest in business process outsourcing (BPO) company SPi Global Holdings Inc from Philippine Long Distance Telephone Co (NYSE:PHI).
Status: Exclusivity, Speculation
- FRANCE REPORTEDLY SET TO BUY PART OF ALCATEL-LUCENT'S CABLE BUSINESS
The French government wants to buy into the submarine cable business of loss-making telecommunications equipment specialist Alcatel-Lucent SA (EPA:ALU), which could sell for between EUR600m (USD783m) and EUR700m.
- GREENBRIER REMAINS OPEN TO NEGOTIATIONS ON TIE-UP WITH AMERICAN RAILCAR
US railroad freight car equipment maker Greenbrier Companies Inc (NYSE:GBX) is still open to discussions an amalgamation with Carl Icahn's American Railcar Industries Inc (NASDAQ:ARII), after turning down two bids over the past month.
- BASF GETS REGULATORY CLEARANCE IN GERMANY FOR PRONOVA OFFER
German chemical major BASF AG (ETR:BAS) said its voluntary share bid to buy Norwegian omega-3 fatty acids producer Pronova BioPharma ASA (PINK:PVNAY) for an enterprise value of NOK4.845bn (USD866m/EUR662m) had been greenlighted by the German antitrust watchdog.
- APOLLO, METROPOULOS TO MAKE JOINT BID FOR HOSTESS' SNACKS UNIT - REPORT
US private equity firm Apollo Global Management LLC (NYSE:APO) will collaborate with investor C Dean Metropoulos to make a joint takeover offer for the snacks operations of bankrupt wholesale baker Hostess Brands Inc.
Status: Bidding, Speculation
- FCC'S ALPINE SAID TO SELL ENERGY UNIT
Spanish infrastructure builder Fomento de Construcciones y Contratas SA's (MCE:FCC) Austrian unit Alpine Holding GmbH will start offloading its energy equipment unit Alpine Energie Holding AG in February.
Status: Auction, Speculation
- QATAR AIRWAYS MULLS CZECH AIRLINES STAKE BUY
Qatar Airways is looking into the possibility of acquiring a minority stake in Czech Airlines jsc (CSA).
- NESTLE SAID TO DIVEST LATIN AMERICAN UNITS OVER PFIZER DEAL
Swiss food group Nestle SA (VTX:NESN) plans to sell certain Latin American units in order to secure regulatory approval for the USD11.85bn (EUR9.1bn) acquisition of US Pfizer Inc's (NYSE:PFE) infant nutrition business.
- NBG REQUESTS DELAYED DECISION ON POSTBANK'S BUYER
The National Bank of Greece SA (ATH:ETE) said it had asked authorities to postpone the selection of a buyer for state-controlled Hellenic Postbank SA (ATH:TT) until after it closed the planned acquisition of local peer EFG Eurobank Ergasias SA.
- FEDEX REBUFFS UPS APPROACH TO SELL TNT ASSETS - REPORT
US delivery firm FedEx Corp (NYSE:FDX) has rejected domestic sector player United Parcel Service Inc's (NYSE:UPS) proposal to sell it certain assets of TNT Express NV (AMS:TNTE) as UPS tries to win clearance for its acquisition of the Dutch courier.
- VERIZON CEO SEES BUYOUT OF JV WITH VODAFONE "FEASIBLE"
US Verizon Communications Inc (NYSE:VZ) believes that a deal to acquire UK peer Vodafone Group Plc's (LON:VOD) 45% stake in their US joint venture would be "feasible".
- HEINEKEN PROLONGS BID FOR REST OF SINGAPORE'S APB
Dutch brewer Heineken NV (AMS:HEIA) announced it had extended to 18 January 2013 its mandatory unconditional cash offer for all of the shares not already owned by it in Singapore-based beer maker Asia Pacific Breweries Ltd (SGX:A46), or APB.
- DIAGEO POSTPONES TENDER BID FOR ADDITIONAL USL SHARES - REPORT
UK alcoholic beverages producer Diageo Plc (LON:DGE) has postponed its mandatory tender bid to acquire a stake of up to 26% in Indian peer United Spirits Ltd (BOM:532432), or USL, as the parties still need to obtain certain regulatory nods.
Status: Speculation, Delayed, Bidding
- REGENERON URGES STOCKHOLDERS TO REJECT HOSTILE OFFER BY TRC CAPITAL
US biopharmaceutical company Regeneron Pharmaceuticals Inc (NASDAQ:REGN) said it had recommended that its stockholders do not accept an unsolicited tender offer launched by private investment firm TRC Capital Corp, targeting up to 1.06% of its stock.
- CERBERUS TO OFFLOAD MOST OF AOZORA BANK INTEREST
US buyout firm Cerberus Capital Management LP intends to shed up to 632.5m shares in Japan's Aozora Bank Ltd (TYO:8304), a move that would lower its voting stake to 7.7% from 57.8%, the lender said in a statement.
- CIC REPORTEDLY CONSIDERS BUYING INTO DAIMLER
Chinese sovereign wealth fund China Investment Corporation (CIC) is pondering the acquisition of an interest in German premium motor vehicles manufacturer Daimler AG (ETR:DAI).
- LADBROKES CONFIRMS ACQUISITION DISCUSSIONS WITH BETDAQ
UK online betting and gaming company Ladbrokes plc (LON:LAD) confirmed it was in talks to potentially take over Irish online sports betting exchange Betdaq.
- SONY, BMG SAID TO LAUNCH JOINT BID FOR EMI LABELS
Japan's Sony Corporation (TYO:6758) and Germany's BMG Rights Management GmbH plan to make a joint bid for Parlophone and other labels of UK music group EMI Music.
Status: Bidding, Speculation
- TERRA FIRMA PUTS ODEON & UCI OFFLOAD BACK ON THE AGENDA - REPORT
UK private equity group Terra Firma Capital Partners Ltd plans to shed cinemas operator Odeon & UCI group this year after it put sale talks on ice two years ago in favour of a refinancing.
- PASSPORT HEALTH REPORTEDLY GETS CLOSE TO BUYING DATA SYSTEMS
US healthcare software firm Passport Health Communications Inc is nearing a deal to acquire sector player Data Systems Group.
Status: Talks, Speculation
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 11, 2013|
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