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M&A Navigator: Deal pipeline - 9 July.

MANews-(C)2009-2010

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

- US HIGHWINDS NETWORK BUYS INTERNET INFRASTRUCTURE SPECIALIST

US content delivery, network and IP services provider Highwinds Network Group Inc said it had bought California-based BandCon, an Internet infrastructure services specialist, for an undisclosed sum.

Status: Closed

- US HERTZ TAKES OVER MOVIE EQUIPMENT RENTAL FIRM 1STCALL STUDIO

US car rental company Hertz Global Holdings Inc (NYSE:HTZ) said it had acquired California-based 1stCall Studio Equipment, a rental company to the film and television industry, from RoadSafe Holdings.

Status: Closed

- US RAM POWER, CANADIAN SIERRA INK TAKEOVER AGREEMENT

US-based geothermal project developer Ram Power Corp (TSE:RPG) has signed a definite agreement for the takeover of Canadian sector company Sierra Geothermal Power Corp (CVE:SRA), the two companies said.

Status: Bidding; Agreed

- ROSTELECOM LIKELY TO SELL SVYAZINVEST STAKE

Russian telecom group Rostelecom (MCX:RTKM) could shed a 25% plus one share stake in its parent, state-owned telecom holding Svyazinvest, to Vnesheconombank (VEB) or the Depositary Insurance Agency (DIA), following the holding's restructuring.

Status: Speculation

- US MULTIPLAN REPORTEDLY TO BE SOLD IN USD3.1BN DEAL

Private equity firms BC Partners and Silver Lake Partners will buy US healthcare preferred provider organisation MultiPlan in a deal worth USD3.1bn (EUR2.5bn).

Status: Speculation; Agreed

- DUTCH SDU BUYS LEGAL PUBLISHER KSU UITGEVERIJ

Dutch publisher Sdu Uitgevers BV has bought legal publisher KSU Uitgeverij, the two companies said, without providing financial details.

Status: Closed

- TITAGARH WAGONS GETS COURT NOD TO BUY FRENCH AFR

India's railway wagon maker Titagarh Wagons (BOM:532966) has won the go-ahead of a commercial court in France for its planned acquisition of French sector player Arbel Fauvet Rail (AFR) for EUR4m (USD5.1m).

Status: Agreed

- GE LOOKING TO SELL GARANTI BANK STAKE IN PARTS

General Electric (NYSE:GE) may dispose of its 20.85% in Turkish Garanti Bank (IST:GARAN) in parts after it had failed to attract buyers for the entire stake.

Status: Auction

- US HUMANA ANNOUNCES HUMMINGBIRD COACHING BUY

Kentucky-based benefits solutions provider Humana (NYSE:HUM) said it has taken over health coaching services company Hummingbird Coaching Services in Cincinnati, for an undisclosed price.

Status: Closed

- INGLENOOK TRADING DISPOSES OF STAKE IN RUSSIAN UTK

Cyprus-based Inglenook Trading has unloaded its 6.16% holding in Russian fixed-line operator Southern Telecommunications Company (MCX:KUBN), or UTK, the latter said in a statement.

Status: Closed

- FRENCH LEGRAND BUYS INFORM IN TURKEY

French electrical and digital building infrastructures specialist Legrand (EPA:LR) said it had bought Turkish Inform, an uninterruptible power supply (UPS) and secured electrical equipment maker, for an undisclosed sum.

Status: Closed

- BANCO SABADELL TAKES STAKE IN EUROFRAGRANCE

Spanish lender Banco Sabadell (MCE:SAB) said it has acquired a 25% interest in fragrance, perfume and flavour maker Eurofragrance through its investment vehicle Aurica XXI.

Status: Closed

- BOEING STARTS TAKEOVER OFFER FOR ARGON

US aircraft manufacturer Boeing (NYSE:BA) launched its tender offer for the outstanding stock of US systems engineering specialist Argon ST (NASDAQ:STST) by offering USD34.50 (EUR27.22) per share in cash.

Status: Agreed

- HSBC DETERMINED TO GROW IN AFRICA--CEO

UK-based global bank HSBC (LON:HSBA) is set to boost its presence in Africa in line with its strategy to have global coverage, chief executive Michael Geoghegan said.

Status: Bidding

- US PLAYDOM BUYS METAPLACE

US social gaming company Playdom said it has bought San Diego-based sector player Metaplace for an undisclosed sum.

Status: Closed

- UK HUNTSWORTH BUYS SCOPEMEDICAL FOR GBP11M

UK public relations and healthcare communications company Huntsworth (LON:HNT) said it had bought medical communications firm ScopeMedical for up to GBP11m (USD17m/EUR13m).

Status: Closed

- US INTERCONTINENTALEXCHANGE COMPLETES CLIMATE EXCHANGE PURCHASE

US derivatives and over-the-counter (OTC) markets operator IntercontinentalExchange Inc (NYSE:ICE) said it had wrapped up the takeover of UK-based operator of global emissions markets Climate Exchange plc (LON:CLE) for GBP7.50 (USD11.4/EUR9) per share in cash.

Status: Closed

- COMCAST EXPECTS EC TO RULE IN FAVOUR OF NBC UNIVERSAL DEAL

US cable services provider Comcast (NASDAQ:CMCSA) expects the European Commission (EC) to clear by the 15 July deadline its acquisition of a controlling interest in NBC Universal from General Electric (NYSE:GE).

Status: Agreed

- MLM INFORMATION SERVICES REPORTEDLY TO BE SOLD

US software firm MLM Information Services is up for sale.

Status: Speculation; Auction

- EDP TO GAIN FULL CONTROL OF HYDROPOWER FIRM GREENVOUGA

Portuguese utility EDP (ELI:EDP) said it has inked a deal to take full control of home hydropower plant operator Greenvouga.

Status: Agreed

- RUSSIAN ALFA GROUP RECOVERS 13.22% IN TURKISH TURKCELL

Russian conglomerate Alfa Group spent some USD100m (EUR79m) to raise its indirect holding in Turkish mobile operator Turkcell (IST:TCELL) back to 13.22% from 4.99%, the group's unit Alfa Finance said.

Status: Closed

- ENEL REPORTEDLY TO SELL MARITSA EAST STAKE TO RUSSIAN INTER RAO

Italian power group Enel (BIT:ENEL) is to offload its 73% stake in Bulgarian Maritsa East 3 thermal power plant to Russian electricity trader Inter RAO (MCX:IRAO) for EUR800m (USD1bn).

Status: Speculation

- DUTCH PENSION FUNDS PGGM, APG TO SELL ALPINVEST PARTNERS

Dutch pension funds PGGM and APG are selling each their 50% stakes in Europe's largest private equity firm Alpinvest Partners.

Status: Speculation; Auction

- HELIX BIOMEDIX BUYS INTO NUGLOW COSMACEUTICALS

US biopharmaceutical company Helix BioMedix (OTC:HXBM) announced the acquisition of a 30% stake in speciality skincare company NuGlow Cosmaceuticals, without providing financial details.

Status: Closed

- AIR PRODUCTS SWEETENS AIRGAS OFFER

Air Products & Chemicals (NYSE:APD) revised up its hostile takeover bid for US industrial gas supplier Airgas (NYSE:ARG) to USD5.3bn (EUR4.2bn).

Status: Bidding

- SPANISH COPCISA SELLS 85% STAKE IN FACTOR ENERGIA

Spanish construction company Copcisa has sold an 85% stake in electricity distribution company Factor Energia, a spokesperson for Factor Energia said without providing financial details.

Status: Closed

- SALMAR BUYS NORWEGIAN RAUMAGRUPPEN FOR EUR38M

Norwegian farmed salmon producer SalMar (OSL:SALM) said it has agreed to buy the majority of agribusiness group RaumaGruppen AS for NOK304.9m (USD47.7m/EUR37.7m) in cash.

Status: Agreed

- UK AVIVA CUTS STAKE IN DUTCH INNOCONCEPTS TO 9.89%

UK insurer Aviva (LON:AV) has reduced its stake in Dutch innovation firm InnoConcepts NV (AMS:INNOC) to 9.89%, a filing with Dutch financial market regulator AFM showed.

Status: Closed

- ARYZTA GETS REGULATORY GO-AHEAD TO BUY US FRESH START BAKERIES

Swiss bakery group Aryzta (SWF:ARYN) said it has obtained a regulatory approval for its USD900m (EUR710m) acquisition of US sector player Fresh Start Bakeries (FSB).

Status: Agreed

- US ZAP TAKES MAJORITY IN CHINESE JONWAY AUTO

US loss-making electric car maker ZAP (OTCBB:ZAAP) said it would acquire a majority 51% stake in Zhejiang Jonway Automobile Co as it aims to focus on the commercial and government fleet market in China.

Status: Agreed

- GAZPROM DEPUTY CEO SAYS NOT WILLING TO ACQUIRE LATVIJAS GAZE

Russia's gas major Gazprom (MCX:GAZP) has no plans to buy Latvia's gas monopoly Latvijas Gaze (RSE:GZE1R), company's deputy CEO Valery Golubev said.

Status: Denied

- CONSTANTIA PACKAGING MINORITY HOLDERS TO GET EUR38.83 P/S IN SQUEEZE-OUT

Minority shareholders of Austrian packaging group Constantia Packaging (WBAG:COV) will receive EUR38.83 (USD49.16) per share from US private equity firm One Equity Partners (OEP) as part of its takeover of the Austrian company, it said in a statement.

Status: Bidding; Closed

- DUTCH KPN BUYS YES TELECOM

Dutch telecom operator KPN (AMS:KPN) said it has acquired mobile phone operator Yes Telecom, without providing financial details.

Status: Closed

- CHANGAN AUTOMOBILE, PEUGEOT CITROEN INK JV DEAL IN CHINA

China Changan Automobile Group and French car maker PSA Peugeot Citroen (EPA:UG) said they have struck a deal to form a 50/50 joint venture to produce and market light commercial vehicles and passenger cars in China.

Status: Agreed

- RUSSIAN FETISOV'S USD350M FUND LOOKING FOR TELECOM BUYS

MDC, an investment company owned by Russian businessman Gleb Fetisov, plans to buy telecoms assets in Russia and other CIS countries through its newly created USD350m (EUR276.4m) fund, MDC's executive Alexei Semyonov said.

Status: Bidding

- BELGIAN RESILUX, DUTCH-SWISS IPS JOIN FORCES IN PLASTIC PACKAGING

Belgian polyethylene terephthalate (PET) packaging producer Resilux NV (EBR:RES) said it has established a 50/50 joint venture with Dutch-Swiss group Innovative Packaging Solutions, or IPS.

Status: Closed

- GERMAN BASF, HENKEL TO SET UP CORROSION PROTECTION SOLUTIONS JV

German BASF Coatings, part of chemicals group BASF SE (ETR:BAS), and consumer goods maker Henkel (ETR:HEN3) have agreed on the set-up of a joint venture for the development of innovative corrosion protection solutions for the automotive sector, the companies said.

Status: Agreed

- MORGAN STANLEY GETS STAKE IN VOUCHERS FIRM EDENRED

US investment bank Morgan Stanley (NYSE:MS) has purchased a 6.24% interest in French vouchers firm Edenred, the French stock market regulator AMF said in a statement.

Status: Closed

- US APPLETON SIGNS DEAL TO DIVEST PERFORMANCE PACKAGING BUSINESS

US Appleton Papers Inc said it had agreed to divest its performance packaging operations to newly-established NEX Performance Films Inc, part of private equity company Mason Wells, for around USD58m (EUR45.8m).

Status: Agreed

- US RWD TECHNOLOGIES OFFLOADS SOFTWARE DIVISION TO COURT SQUARE

US provider of performance improvement solutions RWD Technologies LLC said it had closed the divestment of its software products unit to private equity investor Court Square Capital Partners for an undisclosed sum.

Status: Closed

- MTV NETWORKS BUYS GAMING FIRM SOCIAL EXPRESS

US media entertainment company MTV Networks, part of Viacom Inc (NYSE:VIA), said it had taken over San Francisco-based social gaming developer Social Express Inc for an undisclosed sum.

Status: Closed

- BC PARTNERS, SILVER LAKE EYE USD3.1BN DEAL TO BUY US MULTIPLAN

Private equity firms BC Partners and Silver Lake intend to acquire US healthcare services provider Multiplan for USD3.1bn (EUR2.45bn).

Status: Bidding; Speculation

- SPANISH FERROVIAL TAKES RAILWAY CONSULTANCY FROM UK WYG

Spanish transport infrastructure group Ferrovial (MCE:FER) said it had bought the railway consultancy unit of UK WYG engineering, part of WIG Plc (LON:WHY), to reinforce its UK business.

Status: Closed

- UK CYRIL SWEETT GROUP ANNOUNCES GBP5.4M WIDNELL BUY

UK construction and property consultants Cyril Sweett Group (LON:CSG) said it had agreed to take over Hong Kong-based Widnell, an international quantity surveying firm, for GBP5.4m (USD8.2m/EUR6.45m).

Status: Agreed

- EU COURT RULES AGAINST PORTUGAL'S VETO RIGHTS AT PT

The European Court of Justice rejected Portugal's request to keep its veto rights at Portugal Telecom (ELI:PTCA), or PT, a decision which may facilitate the bid by Spanish Telefonica (MCE:TEF) for PT's stake in Brazilian mobile operator Vivo (SAO:VIVO3).

Status: Bidding

- CITIGROUP REPORTEDLY DISPOSES OF PRIVATE EQUITY ARM

US financial services giant Citigroup (NYSE:C) has inked a deal to divest from its private equity arm to Lexington Partners for over USD900m (EUR711m).

Status: Speculation; Agreed

- SISTEMA TO SELL REMAINDER OF PROPERTY UNIT TO VTB

Russian conglomerate Sistema (MCX:AFKC) is to shed its residual 27.6% stake in its property arm Sistema-Hals (MCX:HALS) to state-owned lender VTB (MCX:HALS).

Status: Agreed; Speculation

- TATA'S AEROSPACE UNIT IN JV DEAL WITH LOCKHEED MARTIN

Tata Advanced Systems, the aerospace and defence unit of Indian diversified group Tata has formed a joint venture with US sector player Lockheed Martin Corp (NYSE:LMT) for the production of defence equipment and aircraft parts.

Status: Speculation; Agreed

- UNICAJA, CAJASOL SAY WILL PLACE SEPARATE BIDS FOR CAJASUR

Spanish savings banks Unicaja and Cajasol said their boards of directors decided to place separate bids for struggling peer CajaSur.

Status: Bidding

- HSBC SAID TO MULL OVER BID FOR S AFRICAN NEDBANK

British banking group HSBC Holdings (LON:HSBA) is studying a potential bid for South African lender Nedbank (JNB:NED).

Status: Speculation; Bidding

- PORTUGAL TELECOM SAYS READY TO RESUME TALKS WITH TELEFONICA ON VIVO DEAL

Portugal Telecom (ELI:PTCA), or PT, said in a statement to stock market regulator CMVN that it was willing to resume negotiations with Spanish Telefonica (MCE:TEF) over its bid for Brazilian mobile operator Vivo (SAO:VIVO3).

Status: Bidding; Talks

- SWISS PRIME SITE AUCTIONS JELMOLI'S HOTEL BUSINESS

Property firm Swiss Prime Site (SWF:SPSN), or SPS, has put the Geneva-based hotel business of its subsidiary Jelmoli (SWF:JELN) up for sale.

Status: Auction

- UK PEARSON HOLDS 99.3% OF MELORIO, ANNOUNCES COMPULSORY BID

UK media company Pearson (LON:PSON) said it will launch a compulsory bid for the residual stock of training and assessment services provider Melorio (LON:MLO), after having secured 99.3% of its shares by 6 July.

Status: Bidding

- DUTCH WESSANEN EYES ACQUISITIONS TO BOOST MARKET SHARE

Dutch food group Wessanen (AMS:WES) is exploring potential acquisitions in a move to gain a bigger market share in organic food.

Status: Bidding

- INVESTEC TO STUDY SALE OF RENSBURG FUND MANAGEMENT

British financial group Investec (LON:INVP) said it could offload the fund management business of Rensburg Sheppards (LON:RBG), which it recently acquired, as it has received expressions of interest from potential buyers.

Status: Auction

- DEEPDALE OWNS 81.15% OF PRESTON NORTH END, EXTENDS OFFER

Preston North End (LON:PNE), managing UK football club Preson North End FC, said that Deepdale received acceptance for 187,803 of the company shares by 6 July and owns now 81.15% in the company.

Status: Bidding

- AUSTRIAN UNIQA CONSIDERS DIVESTING ROMANIAN ASTRA STAKE

Austrian insurer Uniqa (WBAG:UQA) considers to sell its 27% stake in Romanian sector company Astra to major shareholder Dan Adamescu.

Status: Auction

- AUSTRALIAN COMPETITION BODY DELAYS RULING ON BHP-RIO JVAustralia's competition regulator (ACCC) said it would again extend the deadline for its decision on the proposed iron ore joint venture between Anglo-Australian miners BHP Billiton (LON:BLT; ASX:BHP) and Rio Tinto (LON:RIO; ASX:RIO), but has set no date.

Status: Delayed; Agreed

- SPANISH CAJA DE CATALUNYA, TARRAGONA Y MANRESA COULD JOIN BUYOUT BID FOR ABERTIS

Spanish savings bank Caja de Catalunya, Tarragona y Manresa may take part in the takeover of infrastructure manager Abertis (MCE:ABE), led by Abertis' main holders.

Status: Bidding

- SWISS FEDERAL RAILWAYS, DEUTSCHE BAHN PLAN CROSSBORDER JV

The Swiss Federal Railways (SBB) and its German peer Deutsche Bahn unveiled plans to establish a joint venture in a move to boost railway transportation between Switzerland and Germany.

Status: Talks

- MUTUA MADRILENA TO SELL 4% IN SPANISH BUILDER SYV

Spanish insurer Mutua Madrilena will sell 4% of its 5% interest in builder Sacyr Vallehermoso (MCE:SYV), or SyV.

Status: Auction

- US WORLDVEST IN LOI TO BUY CHILE INVERSIONES DE MINERALES

US WorldVest (OTC:WOVT), doing business as WorldVest Hurricane Resources, said it had entered into a letter of intent to take over Chile Inversiones de Minerales (CIM), a mineral investor and miner in Chile.

Status: Exclusivity

- US CLIFFS NATURAL RESOURCES HOLDS 52.1% IN SPIDER, EXTENDS OFFER

US miner Cliffs Natural Resources (NYSE:CLF) said it had secured 52.1% in Canadian mineral explorer Spider Resources (CVE:SPQ) under its cash CAD0.19 (USD0.2/EUR0.14) per-share offer and extended its acceptance period until 16 July.

Status: Bidding

- RUSSIAN TVEL TO SELL ITS 51% IN CHEMICAL AND METALLURGICAL PLANT ON 23 AUG FOR RUB475.6M

Russian nuclear fuel company TVEL said it will sell its 51% in the Chemical and Metallurgical Plant (RTB:HMTZP) at an auction on 23 August 2010 for a starting price of RUB475.619m (USD15.3m/EUR12.14m).

Status: Auction

- BOSCH ALLEGEDLY PLANS TO MAKE BID FOR CENTROSOLAR

German industrial group Robert Bosch is reportedly planning to make a takeover bid for solar energy systems maker Centrosolar (ETR:C3O), traders speculated pushing the company's shares up by over 12% to EUR4.99.

Status: Speculation

- PURESPECTRUM IN MERGER TALKS WITH ULTRA-TECH LIGHTING

US lighting technology maker PureSpectrum (OTCBB:PSRU) and New Jersey-based sector player Ultra-Tech Lighting announced on they were in talks over a potential combination of the two companies.

Status: Talks; Exclusivity

- ABERTIS BUYOUT TO REPORTEDLY COST EUR10BN

A possible takeover of Spanish infrastructure manager Abertis (MCE:ABE) by its core owners, Criteria CaixaCorp (MCE:CRI) and builder ACS (MCE:ACS), may need EUR10bn (USD12.6bn) in financing.

Status: Talks

- GERMANY TO START HYPO REAL PRIVATISATION IN 2013-14

Germany will kick off the privatisation of property lender Hypo Real Estate Bank (HRE) in 2013 or 2014.

Status: Auction

- RAIFFEISEN CAPITAL MANAGEMENT SAID INTERESTED IN SIEMENS' INNOVEST

Raiffeisen Capital Management (RCM) is said to be interested in the takeover of Innovest, the asset management subsidiary of Siemens Austria, part of German Siemens AG (ETR:SIE).

Status: Bidding

- PARTYGAMING SEEKS ACQUISITION DEALS - CEO

UK online gaming company PartyGaming (LON:PRTY) is looking for takeover opportunities as it wants to play an active role in the consolidation of the sector, chief executive Jim Ryan said.

Status: Talks; Bidding

- UNIT4 MANAGES TO WOO TETA SHAREHOLDERS WITH RAISED BID

Dutch software firm Unit4 (AMS:U4AGR) said over 90% of the shares in Polish sector firm Teta SA (WAR:TET) had been tendered under Unit4's sweetened takeover bid of PLN14 (USD4.26/EUR3.4) apiece.

Status: Bidding

- UK SPICE SAYS REVISED APPROACH BY CINVEN STILL TOO LOW

The board of UK utility services provider Spice (LON:SPI) said the new higher conditional proposal of between GBP0.62 (USD0.94/EUR0.75) and GBP0.65 per share received from investor Cinven still undervalues the company.

Status: Bidding

- PUBLICIS CEO SAYS SEEKS ACQUISITIONS IN DIGITAL AD SECTOR

French advertising group Publicis (EPA:PUB) is eyeing acquisitions in the digital advertising sector, the company's chief executive, Maurice Levy said.

Status: Bidding

- IT HOLDING EXTENDS DEADLINE FOR BIDS FOR FERRE UNTIL 2 AUG

The administrators of Italian luxury goods group IT Holding (BIT:ITH) said they have extended the deadline for collecting bids for IT Holding's fashion house Gianfranco Ferre until 2 August.

Status: Auction

- CARREFOUR SAID TO SELL ASIAN UNITS

French retailer Carrefour (EPA:CA) has put up for sale its units in Malaysia, Singapore and Thailand.

Status: Speculation; Auction

- TPG, GOLDMAN SACHS NEGOTIATE ONTEX BUYOUT

US private equity firm TPG and the private equity arm of investment bank Goldman Sachs (NYSE:GS) are in talks to acquire Belgium-based diaper maker Ontex from UK investment firm Candover (LON:CDI) for over EUR1.2bn (USD1.5bn).

Status: Talks

- RUSSIAN VTB IN TALKS TO BUY TRANSCREDITBANK

Russian lender VTB (MCX:VTBR) is negotiating to buy local competitor TransCreditBank (MCX:TCBN), the banking arm of state-run railway monopoly Russian Railways.

Status: Talks

- CAIXANOVA TO SHED HOLDING IN BANCO GALLEGO

Spain-based savings bank Caixanova will be forced to offload its 50% stake in local Banco Gallego following its merger with peer Caixa Galicia.

Status: Auction

- US ENDO PHARMA SECURES 93% IN HEALTHTRONICS

US Endo Pharmaceuticals (NASDAQ:ENDP) said it had completed its takeover offer for local urology company HealthTronics Inc (NASDAQ:HTRN) securing 93.38% in the company's stock by the expiry of the initial deadline.

Status: Bidding

- UK NCC GROUP WANTS TO MAKE FURTHER BUYS IN THE US, UK

UK IT assurance services provider NCC Group (LON:NCC) is looking to make more buys in the US and the UK in the next 12 months.

Status: Bidding

- LA CAIXA, ACS LOOKING TO TAKE FULL CONTROL OF ABERTIS

Spanish bank La Caixa and builder ACS (MCE:ACS), holding together nearly 55% of infrastructure manager Abertis (MCE:ABE), are working on a deal to take the residual Abertis stock.

Status: Talks
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Publication:M & A Navigator
Date:Jul 9, 2010
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