March 9, 2010 at 4:05 p.m.
Filed under:
M&A
By Bruce Japsen
| Abbott Laboratories, hoping to boost its cancer and immunology drug development franchises, said it would pay $450 million for Facet Biotech Corp.
The Redwood City, Calif.-based company does not yet have a product on the market but Abbott believes its drug development pipeline has potential. The drugs furthest along in Facet’s development pipeline include daclizumab, an experimental treatment for multiple sclerosis that is expected to move into the final stage of human clinical trials later this year, North Chicago-based Abbott said. In addition, Facet has several oncology compounds in “early to mid-stage development.”
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March 9, 2010 at 2:19 p.m.
Filed under:
Autos,
M&A,
Manufacturing
Associated Press | Danfoss A/S has raised its offer to buy the
rest of Sauer-Danfoss Inc. it doesn’t already own to $13.25 per share
from an initial offer of $10.10 per share.
Danfoss, a Denmark-based manufacturer of valves and fluid handling
components for air conditioning, heating and industrial applications,
made its initial bid in December. Danfoss and its subsidiaries
currently own a stake of about 75.7 percent in Sauer-Danfoss.
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March 9, 2010 at 6:32 a.m.
Filed under:
M&A,
Real estate
Associated Press | Two major investors in General Growth
Properties are joining Brookfield Asset Management in offering to
inject a combined $6.5 billion in fresh funds into the shopping mall
operator to help it emerge from bankruptcy protection.
General Growth said in a statement late Monday that its board is
weighing an offer from Fairholme Capital Management, one of its largest
unsecured creditors, and Pershing Square Capital Management, one of its
largest shareholders, to invest $3.93 billion. It said the new equity
capital investment is valued at $15 a share.
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March 8, 2010 at 4:25 p.m.
Filed under:
M&A,
Retail
By Mary Ellen
Podmolik | The Lyden Co., an Ohio-based company, announced that its retail gas joint venture, Truenorth Energy LLC, purchased 109 Shell-branded stations in the Chicago area from partner Shell Oil Products.
Terms of the transaction were not disclosed. The stations will continue to operate under the Shell brand name.
March 8, 2010 at 12:25 a.m.
Filed under:
Food,
Investigations,
M&A
Dow Jones Newswires-Wall Street Journal | U.K. regulators are
investigating whether Kraft Foods Inc. misled employees and investors
during its battle to acquire Cadbury PLC, people familiar with the
matter said, as ill feeling generated by the deal continues to
reverberate in Britain.
The Panel on Takeovers and Mergers is looking into comments Kraft
executives made during the contentious takeover battle about Cadbury’s
Somerdale candy factory in Keynshaw. Beginning with its initial
takeover letter, Kraft officials repeatedly said they believed the
factory could be kept open. That was a contrast to Cadbury, which had
said it would close the plant and move Somerdale’s 500 jobs to Poland.
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March 5, 2010 at 9:55 a.m.
Filed under:
Education,
M&A
By Sandra M. Jones | Human
resources firm Hewitt Associates said it bought Senior Educators Ltd.,
a web-based Medicare insurance exchange in a move to expand its
services into the retiree health market.
Senior Educators, a five-year-old firm, operates an online service that
helps retirees select private Medicare insurance plans as they
transition from their employer’s plans to individual plans.
Financial terms weren’t disclosed.
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March 5, 2010 at 7:47 a.m.
Filed under:
M&A
From Reuters | Britain’s competition watchdog the Office of Fair Trading said may ask European authorities to investigate Procter & Gamble’s December acquisition of Sara Lee’s Ambi Pur air freshener unit.
Get the full story: reuters.com
March 5, 2010 at 7:25 a.m.
Filed under:
Agriculture/Farming,
M&A
Associated Press | CF Industries Holdings Inc. said Friday it
has begun its unsolicited $4.7 billion offer for fertilizer company
Terra Industries Inc., which has already accepted a buyout offer from a
Norwegian company.
Chemical maker CF, based in Deerfield, on Tuesday offered $37.15 in
cash and nearly one-tenth of a share of common stock for each Terra
share. The exchange offer for all of Terra’s outstanding shares will
expire at 5 p.m. Eastern time on April 2.
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March 4, 2010 at 8:58 p.m.
Filed under:
Bankruptcy,
Litigation,
M&A
From Bloomberg News | A group of Tribune Co. creditors sued the banks behind the Chicago-based
publisher’s 2007 leveraged buyout, saying the $8 billion in loans they arranged
for the deal doomed it to bankruptcy.
Get the full story: chicagotribune.com/business
March 2, 2010 at 8:12 a.m.
Filed under:
Bankruptcy,
M&A,
Real estate,
Stock activity
By Sandra M. Jones | General Growth Properties Inc. said it filed an application to list its common stock on the New York Stock Exchange.
The Chicago-based mall operator expects the shares to begin trading
Friday under the symbol GGP. General Growth shares have been trading
over-the-counter under the symbol GGWPQ since it enter Chapter 11
bankruptcy last April.
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March 2, 2010 at 6:49 a.m.
Filed under:
Agriculture/Farming,
Food,
M&A
| Tribune staff report | Deerfield-based CF Industries Holdings, Inc.said it has offered to acquire fertilizer rival Terra Industries Inc. for $47.40 a share, valuing the bid at approximately $4.7 billion.
Iowa-based Terra, the former object of a hostile takeover offer from CF, agreed earlier this month to be bought by Norway’s Yara for $4.1 billion cash.
“It is clear that CF Industries is the best acquirer for Terra given the compelling strategic benefits of the combination, including the substantial synergies only we can achieve together,” said Stephen R. Wilson, chairman, president and chief executive officer of CF Industries.
|
|
See also
• Greg Burns: Fertilizer wars back on
|
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March 2, 2010 at 1:43 a.m.
Filed under:
Food,
M&A
From Business Week | Nestle SA said it has completed its $3.7 billion purchase of Northbrook-based Kraft Foods Inc.’s pizza business. Kraft will out the proceeds toward its bid to buy British candy maker Cadbury PLC.
Get the full story: businessweek.com
March 1, 2010 at 8:39 a.m.
Filed under:
Health care,
M&A,
Pharmaceuticals
By Bruce Japsen | Providing a boost to Baxter International Inc.’s fast-growing
regenerative medicine business, the medical product giant said it would
buy a London developer of next-generation bone graft material for up to
$330 million.
The Deerfield-based maker of blood therapies and
medical devices, said privately held ApaTech will bring a new business
that makes “synthetic bone repair materials for orthopedic and dental
applications,” as part of its business researching and developing bone
graft technologies, the companies said in a joint press release.
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March 1, 2010 at 7:52 a.m.
Filed under:
Banking,
M&A
By Wailin Wong | Next
Step Technology Inc., a Lisle-based company that provides information
technology to community banks, has been acquired by its competitor,
California-based Compushare Inc. Financial terms of the deal were not disclosed.
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March 1, 2010 at 6:06 a.m.
Filed under:
Insurance,
M&A
Associated Press | British insurer Prudential PLC said Monday it
will buy the Asian unit of American International Group Inc. in a deal
worth $35.5 billion that will allow AIG to pay back some of the money
it owes U.S. taxpayers.
AIG, which was rescued in a $182.5 billion bailout by the U.S.
government in September 2008, will get $25 billion in cash — $20
billion of that from a Prudential rights issue — and $10.5 billion in
new shares and securities for the sale of AIA Group Ltd.
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