A spokesman for Chicago-based energy company Exelon Corp. would not confirm the company’s interest in acquiring Northern Indiana Public Service Co. gas utility from NiSource Inc., but wouldn’t rule it out. Platts Energy Week reported Wednesday that Exelon CEO John Rowe told investors Dec. 14 that Exelon is considering pursuing a natural gas utility. Get the full story>>
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Sara Lee said to be moving ahead on break-up plan
Sara Lee Corp. is moving ahead with plans to split up its meats and coffee businesses into two separate companies after it rejected Brazilian beef processor JBS SA’s takeover offer last month, people familiar with the matter said.
JBS hasn’t ruled out its interest in buying the company, which has a market capitalization of about $11 billion, and could yet come back with a higher offer, these people said. But they cautioned that JBS, which has a market cap of about $10 billion, could have trouble securing financing for a deal. Get the full story »
Lakeshore Athletic Club in Lincoln Park sold
LHC Investments announced said it has acquire Lakeshore Athletic Club in Lincoln Park, located at 1320 W. Fullerton. Terms of the deal were not disclosed. Get the full story »
Fortune hires Morgan Stanley to auction golf unit
Fortune Brands has hired Morgan Stanley to auction its golf division, a sale that may fetch as much as $1.5 billion, Bloomberg reported, citing four people with knowledge of the matter. Get the full story »
Buyout firms circle Fortune Brands’ home unit
A Moen Single Handle Bath Faucet at a Home Depot in New York, July 27, 2007. Fortune Brands Inc. is the holding company for Moen faucets, among other products. (Andrew Burton/Bloomberg News)
Several major private equity firms are considering buying Fortune Brands’ home products unit after the company announced plans to spin off the $3 billion division, five people familiar with the matter said.
Some of the large buyout firms, including Blackstone Group and Bain Capital, are studying the potential of either making offers for the entire unit or acquiring a stake in the business as part of the planned spin-off, the people said.
Such considerations are at a preliminary stage and it is unclear if Fortune would be interested in selling to buyout firms, which would incur heavy taxes, as opposed to a tax-free spinoff, the people said. Get the full story »
Sears considering bid for J. Crew
Sears Holdings Corp. and Urban Outfitters Inc. are examining the financial books of J. Crew Group Inc. in consideration of possible bids for the clothing retailer, a source familiar with the situation said Wednesday.
J. Crew, which also operates a website and catalog, has already agreed to be acquired by TPG Capital LP and Leonard Green & Partners LP for $2.86 billion. It can solicit other bids until Jan. 15.
Neither Sears nor Urban Outfitters has indicated whether it would submit a bid to compete with TPG and Leonard Green’s $43.50 per share offer, the source said. Get the full story »
Water Street buys oral health drug maker from J&J
Chicago private equity firm Water Street Healthcare Partners this morning said it has purchased a subsidiary of developer of oral health products for an undisclosed sum.
Water Street said its purchase of OraPharma Inc. from New Jersey health and drug product giant Johnson & Johnson will “expand its group of companies specializing in life sciences, medical devices, distribution and health care services.” Get the full story »
Mamaloot acquired by FamilyFinds
Santa Monica-based FamilyFinds.com has acquired Mamaloot, a Chicago-based online deal site. The terms of the deal were not disclosed. Get the full story »
Dell expands tech services with latest purchase
Dell Inc. has agreed to buy SecureWorks, a closely held computer security company, to expand its technology services business.
Dell, which did not disclose terms, said on Tuesday that it does not plan to buy any more security firms. Get the full story »
R.R. Donnelley buys 8touches, terms not given
Printing services company R. R. Donnelley & Sons has bought 8-touches, a provider of online tools that help real estate brokers and other marketers create direct mail, flyers and brochures.
ADM buys remaining stake in peanut company
Archer Daniels Midland Co., the world’s largest corn processor and one of the largest U.S. ethanol producers, said in a statement Tuesday that it had acquired the outstanding capital stock of Alimenta (USA) Inc. to control 100 percent of Golden Peanut Co. LLC. Golden Peanut, which processes and exports peanuts, peanut oil and peanut-derived ingredients, is based in Alpharetta, Ga. Get the full story »
Hub International buys Los Angeles brokerage
Chicago-based Hub International Ltd. is expanding its California operations with the Tuesday acquisition of Sander A. Kessler & Associates, Inc., a Santa Monica, California-based insurance brokerage firm.
Terms of the deal were not disclosed.
Founded in 1956, Kessler is one of the largest, independent full-service insurance agencies in California.
The transaction will significantly expand Hub California’s presence in the Los Angeles area. Kessler currently arranges insurance programs for a wide range of industries, including manufacturing, seafood, meat processing, security guards, recycling, and the solar industry. Get the full story »
Great Lakes Dredge acquires L.W. Matteson
Great Lakes Dredge & Dock Corp., the largest U.S. provider of dredging services, said it has acquired the assets of L.W. Matteson Inc., a maintenance dredging, environmental dredging and levee construction company based in Burlington, Iowa for $45 million. Get the full story »
India investigating Kraft for tax evasion
From The New York Times’ DealBook | India’s Ministry of Finance is investigating whether Kraft Foods evaded taxes in its $19 billion takeover of Cadbury last year.
Blistex buys Odor-Eaters brand
Oak Brook-based Blistex Inc. said it has completed the acquisition of the Odor-Eaters line of foot care products from Combe Inc. The value of the deal was not disclosed. Get the full story »
