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M&A Navigator: Deal pipeline - 28 May.

MANews-(C)2009-2013

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

- FIDELITY NATIONAL AGREES TO BUY LENDER PROCESSING SERVICES

US title insurer Fidelity National Financial Inc (NYSE:FNF), or FNF, said it had inked a final accord to buy domestic Lender Processing Services Inc (NYSE:LPS), or LPS, in a cash-and-stock deal with a total equity value of some USD2.9bn (EUR2.2bn).

Status: Agreed

- PHARMSTANDARD RAISES BIOLEK STAKE TO MAJORITY

Russian pharmaceutical firm OJSC Pharmstandard (LON:PHST) said it had increased its stake in its Ukrainian unit PJSC Pharmstandard-Biolek by 41.93% to 96.93% in a move to expand production capacities and bolster its position in the Ukrainian market.

Status: Closed

- AXIA TO EXIT SPANISH VENTURE XARXA OBERTA

Canadian fibre optic network operator Axia NetMedia Corp (TSE:AXX) said it had inked a binding letter agreement to sell its 35% interest in Spanish joint venture Xarxa Oberta, held by a unit, to partner Imagina Media Audiovisual SL.

Status: Exclusivity

- ASSURA TURNS DOWN MEDICX ALL-SHARE BID

UK healthcare property investor Assura Group Ltd (LON:AGR) said that its board had decided to unanimously reject an all-stock offer by Guernsey-based closed-ended investment firm Medicx Fund Ltd (LON:MXF).

Status: Bidding

- VISTA EQUITY PARTNERS KICKS OFF TENDER BID FOR WEBSENSE

US private equity firm Vista Equity Partners has launched its USD24.75 (EUR19.13) a-share cash tender offer for the acquisition of domestic software and services provider Websense Inc (NASDAQ:WBSN), the parties said.

Status: Agreed, Bidding

- CREST CALLS ON CLEARWIRE'S "TRUE" MINORITY HOLDERS TO OPPOSE SPRINT'S NEW OFFER

Crest Financial Ltd, Clearwire Corp's (NASDAQ:CLWR) minority shareholder with a 3.9% stake, said it had sent a letter to the US wireless broadband operator, urging the company's "true" minority shareholders to oppose the increased USD3.40 (EUR2.63) per share buyout offer by majority owner Sprint Nextel Corp (NYSE:S),

Status: Agreed, Bidding

- INLAND REAL ESTATE CORP TO TAKE FULL CONTROL OF JV WITH NYSTRS

US real estate investment trust (REIT) Inland Real Estate Corp (NYSE:IRC) said it would buy the 50% in joint venture IN Retail Fund LLC held by JV partner New York State Teachers' Retirement System (NYSTRS) and take full control of the venture operating retail centres in the Midwest.

Status: Agreed

- DARTY HAS NO SALE PLANS

UK-based electrical retailer Darty Plc (LON:DRTY) is looking to reduce costs in France, but it has no plans to sell itself.

Status: Denied, Auction

- GETCO, KNIGHT CAPITAL SLATE STOCKHOLDER VOTES ON TIE-UP FOR 25 JUNE

US market-maker Getco LLC and financial services company Knight Capital Group Inc (NYSE:KCG) said they had scheduled shareholder votes on their agreed USD1.4bn (EUR1.1bn) merger for 25 June 2013.

Status: Agreed

- OVERLAND STORAGE TO ASSESS CYRUS CAPITAL'S MERGER PROPOSAL

US data management and protection solutions firm Overland Storage Inc (NASDAQ:OVRL) said that its board of directors would evaluate an offer for a business combination with sector firm Tandberg Data (Holdings) Sarl, an affiliate of hedge funds sponsor Cyrus Capital Partners LP.

Status: Talks, Bidding

- SHANKS SELLS FORONEX WOOD TRADING OPERATIONS IN BELGIUM TO ROYALSPAN BVBA

UK sustainable waste management firm Shanks Group plc (LON:SKS) said it had divested its Foronex wood trading business in Belgium to New Royalspan BVBA.

Status: Closed

- MECOM UNIT TO SELL DANISH FREESHEETS TO LOCAL FIRM

UK publisher Mecom Group Plc (LON:MEC) said its Danish unit Berlingske Media A/S had signed a deal to sell three free weekly publications along with two media houses to Sjaellandske Medier A/S for DKK37.5m (USD6.5m/EUR5m) on a debt- and cash-free basis.

Status: Agreed

- TECO ENERGY TO BUY NEW MEXICO GAS INTERMEDIATE FOR USD950M

US electric and gas utility holding company TECO Energy Inc (NYSE:TE) said that it had agreed to take over New Mexico Gas Intermediate Inc (NMGI) from natural gas services provider Continental Energy Systems LLC for USD950m (EUR735.4m), including USD200m of debt.

Status: Agreed

- FIAT'S TALKS OVER CHRYSLER BUYOUT ENTER DECISIVE STAGE - REPORT

Discussions between Fiat SpA (BIT:F) and US healthcare trust VEBA over the proposed buyout of US carmaker Chrysler Group LLC by the Italian sector company have entered their decisive phase.

Status: Talks

- BE GROUP AGREES TO SHED CHINESE BUSINESS

Swedish metal trader BE Group AB (STO:BEGR) said it had inked an accord to sell its Chinese arm, BE Group (Shanghai) Steel Trading, to Ovako, without providing financial details.

Status: Agreed

- KAZAKHMYS SELLS GERMAN MKM FOR EUR42M

UK copper miner Kazakhmys Plc (LON:KAZ) said that it had divested German semi-finished copper products manufacturer Mansfelder Kupfer und Messing GmbH, or MKM, to an unnamed European family office for EUR42m (USD54.3m).

Status: Closed

- S-PANKKI TO TAKE OVER FIM GROUP

Finnish lender S-Pankki Oy, part of retailer S-Group, said it had agreed to acquire domestic financial group FIM Group Oyj for an undisclosed amount.

Status: Agreed

- CROWN ESTATE, OXFORD PROPERTIES FORM JV IN LONDON

UK's The Crown Estate said that it had set up a 50/50 joint venture with Canadian real estate company Oxford Properties Group Inc for the development of the St James's Market area of London.

Status: Agreed

- ST-ERICSSON AGREES TO OFFLOAD GNSS BUSINESS

Geneva-based ST-Ericsson, a 50/50 joint venture between Swiss chip maker STMicroelectronics NV (EPA:STM) and Swedena[euro](tm)s Ericsson AB (STO:ERIC-A), said it had agreed to dispose of its mobile connectivity Global Navigation Satellite System (GNSS) business.

Status: Agreed

- SVYAZINVEST BUYS SHARES IN ROSTELECOM FOR USD54.8M

Russian state-run telecom major Rostelecom OJSC (MCX:RTKM) said its parent OJSC Svyazinvest had bought a stake in it worth some RUB1.72bn (USD54.8m/EUR42.4m) from Rostelecom unit LLC Mobitel.

Status: Closed

- SANTANDER'S POLISH ARM PLANS ACQUISITIONS IN NEXT TWO YEARS

Spanish lender Banco Santander SA's (MCE:SAN) Polish arm Bank Zachodni WBK SA intends to make acquisitions in the next two years as part of its plans to become one of the two largest lenders in the country.

Status: Bidding

- ORKLA BUYS 5.8M RIEBER & SON SHARES BY END OF MANDATORY BID

Norwegian diversified group Orkla ASA (OSL:ORK) has secured 5.8m shares in takeover target Rieber & Son ASA (OSL:RIE) by the end of its mandatory bid for the rest of the domestic food producer and supplier, the latter said.

Status: Bidding

- INTERCELL, VIVALIS FINALISE ALL-STOCK MERGER

Austrian vaccine maker Intercell AG (WBAG:ICLL) and French biopharmaceutical company Vivalis SA (EPA:VLS) announced the closing of their all-stock merger to form biotech firm Valneva SE.

Status: Closed

- JUBILEE TO SELL JSR, POWERALT TO GLOBAL RENEWAL ENERGY

UK mineral exploration group Jubilee Platinum Plc (LON:JLP) said that it had agreed to sell its South African units, ferroalloy smelting firm Jubilee Smelting and Refining (Pty) Ltd and power generation firm Power Alt (Pty) Ltd, or (PowerAlt), to Isle of Man-based Global Renewal Energy Limited for a total of USD14m (EUR10.8m) in cash, including debt.

Status: Delayed, Agreed

- RUSSIAN SINTEZ NOT TO BID FOR GREEK DEPA, ONLY FOR DESFA

Russian tycoon Leonid Lebedeva[euro](tm)s energy company Sintez Group JSC announced in a statement it may only submit a binding bid for Greek natural gas grid operator DESFA, but not for local gas provider DEPA.

Status: Bidding, Terminated

- ROYALTY PHARMA MEETS WITH ELAN STOCKHOLDERS TO PITCH BID

US investor RP Management LLC (Royalty Pharma) said it is meeting with certain shareholders in takeover target Elan Corp plc (NYSE:ELN) to pitch its bid of USD12.50 (EUR9.68) a share for the Irish biotechnology company.

Status: Bidding

- AXA PE, FOSUN PLAN TO BUY CLUB MED WITH MANAGEMENT FOR EUR541M

French private equity firm AXA Private Equity and Chinese conglomerate Fosun International Limited (HKG:0656), holding 9.4% and 9.96% in Club Mediterranee SA (EPA:CU) respectively, said they were in talks with the management to buy the French travel firm via a joint bid.

Status: Bidding, Talks

- ROSNEFT SAID TO TAKE FULL CONTROL OF ITERA

Russian energy company OAO Rosneft (MCX:ROSN; LON:ROSN) is paying some USD3bn (EUR2.3bn) to acquire the 49% interest not yet owned in domestic Itera Oil and Gas Company LLC.

Status: Speculation

- EBRD MAY ACQUIRE STAKES IN POLAND'S ENERGA, PIR

The European Bank for Reconstruction and Development (EBRD) may consider acquiring stakes in Polish state-run power producer Energa SA as well as in the countrya[euro](tm)s investment vehicle Polskie Inwestycje Rozwojowe SA (PIR).

Status: Bidding

- ASTRAZENECA AGREES TO PAY UP TO USD443M FOR OMTHERA PHARMACEUTICALS

UK drug maker AstraZeneca Plc (LON:AZN) said it had inked a final accord to buy US speciality pharmaceutical firm Omthera Pharmaceuticals Inc (NASDAQ:OMTH) for up to USD443m (EUR342.9m).

Status: Agreed

- GERMAN LINDE TO FORM AMMONIA JV WITH RUSSIA'S KUIBYSHEVAZOT

German gases and engineering firm Linde AG (ETR:LIN) said it had agreed to create a 50/50 joint venture with Russian chemical company KuibyshevAzot JSC for the construction and operation of an ammonia facility at the Togliatti site in Russia's Samara region.

Status: Agreed

- ALTIMO FAILS TO GET ENOUGH SUPPORT FOR ORASCOM TELECOM BID

The buyout bid for Egypta[euro](tm)s Orascom Telecom Holding SAE (CAI:ORTE) launched in April by Russian firm Altimo Holdings & Investments Ltd did not manage to secure enough stockholder support prior to its deadline.

Status: Bidding

- INDUSTRIVARDEN SELLS INDUTRADE STAKE TO L E LUNDBERGFORETAGEN

Swedish investor Industrivarden AB (STO:INDU-A) said it had divested 4m shares, or a 10% stake in domestic technology components seller Indutrade AB (STO:INDT) to investment firm L E Lundbergforetagen AB (STO:LUND-B) for SEK212.00 (USD31.92/EUR24.69) apiece, or SEK848m in total.

Status: Closed

- BERTELSMANN MAY EMBARK ON ACQUISITIONS TO STRENGTHEN BUSINESSES

German media major Bertelsmann SE & Co KGaA is poised to use EUR3bn (USD3.9bn) to beef up its online education and services business and could make investments and carry out takeovers to also enhance other units.

Status: Bidding

- AHLSTROM REGISTERS LP EUROPE SPIN-OFF

Finnish speciality paper group Ahlstrom Corp (HEL:AHL1V) said it had registered the spin-off of its Label and Processing business in Europe, called LP Europe, with the Finnish Trade Register.

Status: Delayed, Agreed, Closed

- AGASTI AGREES TO ACQUIRE MAJORITY STAKE IN WUNDERLICH

Norwegian financial services firm Agasti Holding ASA said it had agreed to buy a 70.8% stake in US sector player Wunderlich Investment Company Inc (Wunderlich) from Coil Investment Group AS (Coil) and other vendors in an all-stock transaction.

Status: Agreed

- MARINE HARVEST TO PROCEED WITH HOSTILE BID FOR CERMAQ IF TALKS FAIL

Norwegian farmed salmon producer Marine Harvest ASA (OSL:MHG) said it would launch its original cash-and-stock offer valued at NOK104.00 (USD17.80/EUR13.77) per share for Cermaq ASA (OSL:CEQ), if the current talks with the management and selected shareholders fail to make progress.

Status: Talks, Bidding

- OMV TO SELL 9% IN NABUCCO PIPELINE TO GDF SUEZ

Austrian energy group OMV AG (WBAG:OMV) said it would sell some 9% in Nabucco Gas Pipeline International GmbH to French sector player GDF Suez SA (EPA:GSZ), for an undisclosed price.

Status: Agreed

- CORPORACION FINANCIERA ALBA RAISES EUR69M FROM SALE OF 1% IN ACS

Spanish real estate investor and property manager Corporacion Financiera Alba SA (MCE:ALB) said it had sold 1% in domestic builder ACS Actividades de Construccion y Servicios SA (MCE:ACS) for a total of EUR69.2m (USD89.5m).

Status: Closed

- BILFINGER UNVEILS PLAN TO SELL CONCESSIONS BUSINESS

German builder Bilfinger SE (ETR:GBF) said it would start negotiations with parties potentially interested in buying its concessions unit.

Status: Auction, Talks

- RUSSIA TO DIVEST STAKES IN RUSSIAN RAILWAYS, VTB

The Russian government intends to shed 5% in fully-controlled JSC Russian Railways by end-2014 and 20% by end-2016, as well as 11% in lender VTB Bank OAO (MCX:VTBR) in 2015.

Status: Auction

- VALEANT TO SEEK SMALL BUYS AFTER BAUSCH & LOMB, BUT FOCUS ON INTEGRATION THIS YEAR

Canadaa[euro](tm)s Valeant Pharmaceuticals International Inc (TSE:VRX; NYSE:VRX) will seek small buys that would add to its dermatology and opthalmology operations, but its main focus this year will be on integrating its latest purchases, mainly Bausch & Lomb.

Status: Bidding, Agreed

- DEUTSCHE TELEKOM REPORTEDLY EYES GTS CENTRAL EUROPE

Deutsche Telekom AG (ETR:DTE) is negotiating a potential deal worth some EUR600m (USD776m) to acquire Warsaw-based GTS Central Europe, an infrastructure-based provider of telecommunications services for businesses.

Status: Speculation, Talks, Bidding
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Publication:M & A Navigator
Geographic Code:4EXRU
Date:May 28, 2013
Words:2068
Previous Article:Fidelity National agrees to buy Lender Processing Services.
Next Article:Valeant could make another major deal, but not soon.
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