From Forbes | Old Republic International Corp. completed its $228 million all-stock acquisition of PMA Capital Corp., the insurers said Friday.
Filed under: M&A
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BHP says it’s close to lodging Potash legal challenge
BHP Billiton said on Friday it expected to lodge a motion within the next few days to challenge a lawsuit filed by Potash Corp. to fend off the miner’s $39 billion hostile takeover bid. Get the full story »
Most Hewitt holders want Aon stock in buyout
From BusinessWeek | Most of the stockholders of Hewitt Associates Inc. have decided to receive shares of Aon Corp. as part of the $4.9 billion sale of the human resources specialist.
Moody’s raises its ratings on UAL Corp.
Moody’s Investors Service raised its ratings on UAL Corp. a notch, finishing the review of the airline it begun when the parent of United unveiled its deal to merge with Continental Airlines Inc. Get the full story »
Stericycle to pay $245M for healthcare waste firm
Medical waste disposal firm Stericycle, Inc said it has agreed to buy Healthcare Waste Solutions, Inc. for $245 million in cash.
Lake Forest-based Stericycle said Healthcare Waste “provides a resource management assessment and consulting program for all waste streams to healthcare providers.” Get the full story »
Judge denies antitrust injunction in United merger
Bloomberg News | A federal judge in California denied a request that he enjoin the merger of UAL Corp. with Continental Airlines Inc. on antitrust grounds, according to a ruling in San Francisco late yesterday.
Aon, Hewitt deal wins EU regulatory approval
U.S. insurance brokerage Aon Corp. won European Union regulatory approval on Tuesday to purchase Hewitt Associates, creating the world’s largest human resources services company. Aon, the world’s largest insurance brokerage, launched the $4.9 billion bid for Hewitt in July. The transaction was referred to the European Commission, the EU’s competition authority, in August. Get the full story »
Alberto Culver deal may draw interest from rivals
Bloomberg News | L’Oreal SA and Henkel AG could be interested in Alberto Culver Co., which Unilever yesterday agreed to buy for $3.7 billion, JPMorgan Chase & Co. analysts said.
Alberto Culver shares rose 20 percent to $37.64 yesterday after the deal was announced, above the $37.50 a share Unilever agreed to pay for the maker of VO5 and TRESemme hair-care products. Unilever said there is a $125 million breakup fee if the deal is terminated. Get the full story »
Southwest Airlines to buy AirTran
An AirTran plane takes off. (AP Photo/Michael Dwyer, file
The proposed consolidation between Southwest and AirTran could lead to higher airfares at Midway Airport, especially to vacation destinations, according to one industry analyst.
“A lot of the rock-bottom fares from Midway to Florida were often initiated by AirTran,” said Joseph Schwieterman, a transportation expert at DePaul University, Chicago.
The merger would increase the pace at which Midway is becoming what Schwieterman called “a one-airline act.” Get the full story »
Unilever to buy Alberto Culver for $3.7B
Gina Boswell, president of global brands, stands in an Alberto Culver lab in 2008. (Chicago Tribune/Alex Garcia)
Consumer goods group Unilever will buy U.S. hair and skin care company Alberto Culver for $3.7 billion in the latest move to rebalance its portfolio toward higher growth lines.
The news sent Alberto Culver stock up 20 percent to $37.73, near its 52-week high of $32.08, in midday trading.
Unilever’s biggest acquisition in a decade will add brands such as V05, TRESemme and Nexxus to Unilever’s existing Dove and Sunsilk, and make it the world’s leading company in hair conditioning and the second largest in shampoo. Get the full story »
Sep. 27, 2010 at 11:51 a.m.
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Filed under: Airlines, Airplanes, Airports, Consumer news, M&A How AirTran-Southwest merger affects customers
By Sara K. Clarke, Orlando Sentinel | Orlando-based AirTran Airways said today it has agreed to be bought by Dallas-based Southwest Airlines, which is the busiest carrier at Orlando International Airport. What does this mean for customers and shareholders? Read on to see: Get the full story »
Potash Corp. suit vs BHP allowed to proceed
A U.S. federal judge said Monday he would allow the discovery process to proceed in a lawsuit filed by Potash Corp to fend off BHP Billiton’s $39 billion hostile takeover bid.
The lawsuit, filed last week in a U.S. District Court in Chicago, alleges that BHP misrepresented material facts related to its bid for the world’s largest producer of potash — a key crop nutrient.
As part of the discovery process, Potash Corp have asked that BHP produce a long list of documents that include BHP’s statements regarding investments in the potash industry and the minutes of BHP’s board meetings that relate to the potash sector and its plans to develop its Jansen potash project in Saskatchewan. Get the full story »
Wal-Mart offers $4 billion for S. Africa’s Massmart
Wal-Mart is in talks to buy South Africa’s Massmart, a $4 billion deal that would give the U.S. retailer a big presence in fast-growing Africa and boost its emerging markets strategy. Get the full story »
Hewitt’s $4.9B sale to Aon to close around Oct. 1
The $4.9 billion sale of human resources specialist Hewitt Associates Inc. to Aon Corp. is expected to be completed on or around Oct. 1, the two companies said Friday.
NBC’s Zucker to leave once Comcast deal complete
From The New York Times | Jeff Zucker, the chief executive of NBC Universal, announced Friday that he plans to leave the network after Comcast’s deal to take over NBC is complete.
