M&A Navigator: Deal pipeline - 12 October.
The following is a list of deals covered in detail by M&A Navigator this week:
- INDIA'S EID PARRY BUYS OUT VALENSA INTL
Indian Murugappa Group's company EID Parry (India) Limited (BOM:500125), spesialising in bioproducts and nutraceuticals, said that it had taken full control of sector player Nutraceuticals LLC, also known as Valensa International.
- CANDESCENT PARTNERS TAKES OVER SOFTBASE SYSTEMS
US buyout firm Candescent Partners unveiled it had taken over software company SoftBase Systems without disclosing any financial details, as part of its growth strategy.
- STEINER LEISURE AGREES TO BUY CORTIVA FOR USD33M
US spa services company Steiner Leisure Ltd (NASDAQ:STNR) has inked a deal to acquire massage therapy schools operator Cortiva Group Inc for USD33m (EUR24m) in cash.
- ASG BUYS DATA MANAGEMENT FIRM RIVERGLASS
US cloud computing specialist ASG Software Solutions, part of Allen Systems Group, said it had taken over Illinois-based data management and analysis solutions provider RiverGlass.
- US CAPITOL BANCORP CLOSES SALE OF EVANSVILLE COMMERCE BANK INTEREST
US community banking group Capitol Bancorp Ltd (PINK:CBCR) said it had completed the divestment of its stake in the Indiana-based Evansville Commerce Bank.
- PACIFIC RUBIALES, MAUREL & PROM AGREE ON PERU BLOCK JV
Canadian oil and gas producer Pacific Rubiales Energy Corp (TSE:PRE) will form a joint venture with French oil and gas explorer Les Etablissements Maurel & Prom SA (EPA:MAU) to acquire a 50% working interest in a Peruvian exploration block.
- WW GRAINGER EXITS JV IN SOUTH KOREA
US broad line supplier of maintenance, repair and operating products to businesses WW Grainger Inc (NYSE:GWW) announced that it had disposed of its 49% in the South Korean joint venture MRO Korea to subsidiaries of former partner SK Networks Co Ltd (SEO:001740) for USD12m (EUR8.69m).
- FRENCH PROPERTY GROUP FPF COULD CONSIDER TAKEOVER OFFERS
French property investor Fonciere Paris France (EPA:FPF) is open to looking at a takeover offer if it is backed by a strong industrial project and the price is close to its asset value.
- SWISHER HYGIENE ANNOUNCES ACQUISITION OF ACM SERVICES
US hygiene products and services firm Swisher Hygiene Inc (NASDAQ:SWSH) said in a press release it had taken over sector firm ACM Services Inc.
- SPORTINGBET TO BUY DANISH BOOKMAKERS DANBOOK, SCANDIC
British online betting firm Sportingbet (LON:SBT) said it had agreed to buy Danish bookmakers Danbook Ltd and Scandic Bookmakers Limited for a total cash and stock price of GBP8.5m (USD13.4m/EUR9.7m).
- JOINT JUICE ANNOUNCES BUY OF PREMIER NUTRITION
US nutrition specialist Joint Juice said it had bought sector player Premier Nutrition, including its brand and assets, for an undisclosed price.
- CANADA'S WESTPORT ACQUIRES AFV IN SWEDEN
Canadian engines maker Westport Innovations Inc (TSE:WPT) announced the takeover of natural gas fuel systems supplier Alternative Fuel Vehicle Sweden AB (AFV) for nearly SEK51m (USD7.7m/EUR5.6m).
- SYNERGY FLAVORS REVEALS BUY OF SETHNESS GREENLEAF
Flavours maker Synergy Flavors, part of Irish-based Carbery Group, said it had bought US sector player Sethness Greenleaf for an undisclosed price.
- CHINA'S WINSWAY, US PEABODY PLAN TO SET UP MARKETING JV
Chinaa[euro](tm)s Winsway Coking Coal Holdings Ltd (HKG:1733) has signed a non-legally binding memorandum of understanding (MoU) with US coal miner Peabody Energy Corp (NYSE:BTU) to form a marketing joint venture in China and the Asia-Pacific region.
- MORPHOSYS COULD SPEND EUR140M ON BUYS
German biotechnology firm Morphosys (ETR:MOR) has EUR140m (USD193.2m) cash available for acquisitions, with an eye on several potential targets.
- ERNST & YOUNG GETS FOUR OFFERS FOR DEXIA'S DENIZBANK
Accounting firm Ernst & Young has been approached by four European lenders potentially interested in taking over Denizbank AS (IST:DENIZ), the Turkish arm of struggling French-Belgian Dexia (EBR:DEXB).
- AREVA WEIGHS PARTNERSHIPS FOR MINING OPERATIONS
French state-run nuclear group Areva (EPA:AREVA) is exploring an option to allow industrial groups to acquire stakes in its mining operations under partnership agreements.
- HP COULD RECONSIDER PC UNIT SPIN-OFF PLAN
US IT giant Hewlett-Packard (NYSE:HPQ) could shelve its plan to hive off its personal computer business as this move could turn out to be more costly than beneficial.
- PSM HOLDINGS SIGNS LOI TO BUY LOANLEADERS OF AMERICA
US mortgage banking and brokerage services provider PSM Holdings Inc (OTCBB:PSMH) said it had entered into a letter of intent (LoI) to acquire sector player LoanLeaders of America Inc.
- ROMANIAN BOURSE BVB BUYS INTO MOLDOVA STOCK EXCHANGE
The Bucharest Stock Exchange (BSE:BVB) has bought 4.99% in Moldovaa[euro](tm)s bourse MSE and wants to contribute through its Arean trading system to a future capital hike at MSE to keep its stake in it.
Status: Bidding, Speculation, Closed
- DEUTSCHE BOERSE, NYSE TIE-UP GETS REGULATORY NOD IN LUXEMBOURG
Deutsche Boerse (ETR:DB1) said that Luxembourga[euro](tm)s financial regulator has cleared its USD9bn (EUR6.5bn) planned combination with NYSE Euronext (NYSE:NYX).
- BRITISH AMERICAN TOBACCO FINALISES PROTABACO TAKEOVER
British American Tobacco plc (LON:BATS) said it had closed its previously announced takeover of Colombian cigarette maker Productora Tabacalera de Colombia SAS, or Protabaco.
- FRESENIUS UNIT TO BUY HOSPITAL OPERATOR DAMP GROUP
German healthcare company Fresenius SE & Co (ETR:FREG) said its unit Helios Kliniken GmbH had agreed to buy 94.7% in hospital operator Damp Group to enhance its presence in the market.
- CR BARD DECLARES TAKEOVER OFFER FOR CLEARSTREAM UNCONDITIONAL
Irish medical devices maker ClearStream Technologies (LON:CTN) said that the GBP0.85 (USD1.3/EUR0.9) per share takeover offer made by US sector player CR Bard (NYSE:BCR) has been declared fully unconditional after securing an 85.87% acceptance by 11 October.
- COUPONS.COM BUYS REST OF UK COUPONSTAR
US digital coupons provider Coupons.com Inc said it had bought the 50% it did not already own in its London-based digital promotions and coupon joint venture Couponstar Ltd (UK).
- MAERSK TO SELL LNG UNIT TO TEEKAY, MARUBENI FOR USD1.4BN
Danish shipping group AP Moller-Maersk (CPH:MARSK B) said it had agreed to sell its liquefied natural gas (LNG) business Maersk LNG A/S to Teekay LNG Partners (NYSE:TGP) and Marubeni Corp (TYO:8002) for USD1.4bn (EUR1bn), free of cash and debt.
- BELGIUM'S ARSEUS GETS TAKEOVER APPROACH
Belgian health products company Arseus NV (EBR:RCUS) has been approached regarding a possible takeover of the company.
Status: Talks, Speculation
- PTT CHEMICAL TAKES 50% IN CARGILL'S NATUREWORKS
Thai chemicals maker PTT Chemical (BAK:PTTCH) said it had bought 50% in US bioplastic polylactic acid specialist NatureWorks, part of agribusiness group Cargill, under its long-term business strategy.
- OPTOS CLOSES BUY OF OPKO HEALTH'S INSTRUMENTATION BUSINESS
British medical retinal imaging firm Optos plc (LON:OPTS) announced it had finalised the takeover of the instrumentation division of US biopharmaceutical and diagnostics company Opko Health Inc (NYSE:OPK).
- PLASTIC OMNIUM TO TAKE OVER PLASTAL POLAND
French plastic processing group Compagnie Plastic Omnium (EPA:POM) said that its auto exterior parts unit Plastic Omnium Auto Exterior (POAE) had agreed to take over sector player Plastal Poland in a bid to expand in eastern Europe.
- PENICK, SOLARRUS FORM SOLAR SOLUTIONS JV
US construction management firm TB Penick & Sons and solar solutions provider Solarrus said they had set up a joint venture to provide solar power solutions to government and education organisations.
- WPP'S JWT TO BUY MAJORITY STAKE IN CHINESE AGENCY A4A
Irish advertising group WPP (LON:WPP) said that its fully owned communications group JWT will take a majority stake in Chinese full service digital agency A4A as part of a strategy to expand in fast-growing markets and sectors.
- SWEDEN'S MEKONOMEN TO TAKE OVER SPARE-PARTS CHAIN MECA
Swedish car-parts retailer Mekonomen AB (STO:MEKO) said it had agreed to buy automotive spare-parts chain Meca Scandinavia AB from the Sixth AP Fund for SEK1.25bn (USD186.5m/EUR136.6m) in cash plus 3.1m new shares.
- IPSOS WRAPS UP SYNOVATE ACQUISITION
French research company Ipsos (EPA:IPS) said it had finalised the purchase of Synovate, the market research business of British marketing communications group Aegis (LON:AGS), for an enterprise value of GBP525m (USD818.4m/EUR600m).
- AEA INVESTORS BIDS FOR ASCO GROUP
US private equity firm AEA Investors has placed a second-round bid in the race for oil and gas logistics company Asco Group.
Status: Speculation, Bidding
- BAIN CAPITAL COULD REACH SKYLARK DEAL BY END-OCT
US private equity firm Bain Capital could strike a deal worth some JPY250bn (USD3.3bn/EUR2.4bn) by the end of October to buy Japanese restaurant operator Skylark Co from Nomura Holdings (TYO:8604).
- HANA STILL TO DECIDE ON RENEGOTIATION OF KEB BUY
South Korean Hana Financial (SEO:086790) is still waiting to see if Lone Star would appeal a court verdict against it, before deciding whether to renegotiate the agreement to buy the US funda[euro](tm)s 51% in Korea Exchange Bank (SEO:004940), or KEB.
- NEUSTAR AGREES TO BUY TARGUS FOR USD650M
US network addressing and routing services firm Neustar (NYSE:NSR) said it will take over caller identification services provider Targus Information Corp for some USD650m (EUR476m) in cash.
- GARDNER DENVER TO BUY ITALIAN PUMPS MAKER ROBUSCHI
US industrial compressors and vacuum products maker Gardner Denver (NYSE:GDI) said it will buy Italian blowers and pumps manufacturer Robuschi SpA for around EUR152m (USD207.3m), in a move to optimise its European manufacturing presence.
- US SPECIALTYCARE TAKES OVER SMA, RNP
US SpecialtyCare, a clinical services provider, said it had acquired Surgical Monitoring Associates (SMA) and Remote Neuromonitoring Physicians (RNP), in a move to widen its neuromonitoring services.
- DOLE FOOD BUYS BLUEBERRY SPECIALIST
US fresh fruit and vegetables producer Dole Food Company (NYSE:DOLE) said it had taken over the parent firm of fresh blueberry specialist SunnyRidge Farm for an undisclosed price.
- TRANSATLANTIC'S NEW SUITOR IS ENSTAR GROUP
US reinsurer Transatlantic Holdings' (NYSE:TRH) new suitor is Bermuda-based insurance and reinsurance management and consultancy services provider Enstar Group (NASDAQ:ESGR).
- ODOM-SOUTHERN UNVEILS TAKEOVER OF CAVATAPPI DISTRIBUZIONE
US wine and spirits distributor Odom-Southern of the Pacific Northwest said it had taken over Seattle-based fine wine wholesaler Cavatappi Distribuzione for an undisclosed price.
- CONCORDIS INKS LOI TO BUY ADVANCE UNDERWRITING MANAGERS
US financial holding firm Concordis Group (OTCBB:CNGI) said it had signed a letter of intent to buy Advance Underwriting Managers, or AUM, for an unrevealed price.
- CROATIAN TDR OFFERS TO TAKE OVER TOBACCO COMPANY HRVATSKI DUHANI
Croatian tobacco firm Hrvatski Duhani dd (ZSE:HRDH-R-A) announced it had received an offer for its ordinary stock from local sector player TDR, owned by Adris Grupa dd (ZSE:ADRS-R-A).
- VATTENFALL STARTS SALE OF FINNISH OPERATIONS
Swedish utility Vattenfall has launched the sale of its Finnish power and heat distribution operations, with bids of over EUR1bn (USD1.4bn) expected from infrastructure funds.
- JK WOHNBAU MAY SELL MAJORITY TO GRAND CITY PROPERTY
German residential real estate developer JK Wohnbau (ETR:JWB) said it had started negotiations over the possible sale of a controlling stake to Grand City Property Group.
- CROATIAN T-HT MAY DROP BID FOR KOSOVO'S PTK
Croatian telecommunication firm T-HT (ZSE:HT-R-A) could abandon the bidding race to buy 75% in Kosovan state-run sector player PTK after corruption charges were recently brought against some of the lattera[euro](tm)s managers.
- JONES NEGOTIATES SALE OF JEANSWEAR UNIT TO ISRAELI DELTA GALIL
US apparel and footwear maker The Jones Group Inc (NYSE:JNY) said it was in talks to sell its jeanswear division to Israeli sector company Delta Galil Industries Ltd (TLV:DELT) for an estimated sum of between USD350m (EUR257.6m) and USD400m.
- VIRGIN ATLANTIC STILL LOOKING TO BUY BMI
British air carrier Virgin Atlantic is still interested in acquiring sector player BMI, despite a decline in the sectora[euro](tm)s growth.
- EURASIAN NATURAL RESOURCES OFFERS TO BUY OUT SHUBARKOL
British natural resources group Eurasian Natural Resources Corp (LON:ENRC), controlling some 25% in Shubarkol (KAS:SHUK), said its directors had cleared it to buy out the remaining up to 2.64m outstanding common shares of the Kazakhstan-based coal producer for up to USD600m (EUR440m) via a call option.
Status: Bidding, Exclusivity
- LABCORP EXTENDS TENDER OFFER FOR ORCHID TO 4 NOV
US clinical lab company Laboratory Corporation of America (NYSE:LH), or LabCorp, announced a new extension, to 4 November 2011, of its tender offer for DNA testing firm Orchid Cellmark (NASDAQ:ORCH).
- SAMSON INVESTMENT WEIGHS OPTIONS, INCLUDING SALE
US independent oil and gas company Samson Investment Co is reviewing strategic options for its business, including a sale which could bring up to USD10bn (EUR7.3bn).
- VIVENDI, TIME WARNER TO PLACE BINDING BIDS FOR TVN
Polish ITI Group is expected to get binding offers for its 56% in local broadcaster TVN (WAR:TVN) only from French media group Vivendi (EPA:VIV) and Time Warner (NYSE:TWX).
- CEZ TO EVALUATE BIDS FOR AKENERJI STAKE
Czech utility CEZ (PRG:BAACEZ) said in a statement it will make a closer evaluation of the offers it had received for its 37.4% stake in its Turkish power producing joint venture Akenerji (IST:AKENR).
Status: Bidding, Auction
- ICELAND FOODS SALE MAY BE AFFECTED BY DISPOSAL LEVEL
A sale of British frozen food retailer Iceland Foods to any of the countrya[euro](tm)s top four supermarket chains could be hindered by competition regulations which could imposeA the buyerA to sell more than 20% of Iceland Foods' stores.
- CHINESE FUNDS TARGET UP TO 20% IN AS ROMA
Chinese sovereign funds are interested in buying up to 20% in Italian football club AS Roma SpA (BIT:ASR) from UniCredit SpA (BIT:UCG).
- SPANISH BANCO POPULAR MAKES OFFER TO BUY BANCO PASTOR
Spanish lender Banco Popular (MCE:POP) said it had made an all-stock offer to buy smaller domestic peer Banco Pastor (MCE:PAS).
Status: Talks, Bidding
- HENKEL EYES ACQUISITIONS
German consumer goods giant Henkel (ETR:HEN3) would consider buying available targets at the right price if they provided strategic benefits.
- PENTA MAKES INDICATIVE OFFER FOR AUSTRIAN A-TEC
Czech-Slovak buyout firm Penta Investments said it had filed an indicative offer for the takeover of the three divisions of insolvent Austrian industrial group A-Tec (WBAG:ATEC) as well as a separate proposal for its ATB electrical motors subsidiary.
- S KOREAN KDB EYES HSBC'S LOCAL RETAIL BUSINESS
South Korean KDB Financial Group, a holding firm of state-run Korea Development Bank (KDB), is looking to buy the local retail banking unit of British HSBC Holdings (LON:HSBA).
Status: Speculation, Bidding
- STARBUCKS NEARS COFFEE SHOP JV DEAL WITH TATA COFFEE
US speciality coffee roaster and retailer Starbucks Corp (NASDAQ:SBUX) is nearing an equity joint venture deal with Indian coffee producer Tata Coffee Ltd (BOM:532301) to launch coffee shops in India.Status: Talks