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Deal Pipeline
Monday 13 June 2016
The following is a list of deals covered in detail by M and A Navigator this week:
-DR REDDY'S TO ACQUIRE TEVA US DRUG PORTFOLIO FOR USD 350M
Indian drugmaker Dr. Reddy's Laboratories (NYSE: RDY) has entered into a definitive agreement with Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) (TASE: TEVA) and an affiliate of Allergan plc (NYSE: AGN) to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for USD 350m in cash at closing, the company said.
The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan's generics business.
Status: Agreed
-ON SEMICONDUCTOR EXTENDS TENDER OFFER FOR FAIRCHILD SEMICONDUCTOR, AGAIN
US-based chipmaker ON Semiconductor Corp. (NASDAQ: ON) has again extended its tender offer to purchase all of the outstanding shares of common stock of US-based chipmaker Fairchild Semiconductor International Inc. (NASDAQ: FCS) for USD 20.00 per share in cash, from 9 June until 23 June, the company said.
The deadline has been extended before, most recently from 12 May to 9 June, and before that, from 12 May to 26 May. Before that it was extended from 28 April to 12 May, and before that from 14 April to 28 April. Previously, it was extended 31 March to 14 April.
Status: Agreed
-SYMANTEC TO ACQUIRE WEB SECURITY SPECIALIST BLUE COAT FOR AROUND USD 4.651BN IN CASH
US-based cybersecurity firm Symantec (NASDAQ: SYMC) has entered into a definitive agreement to acquire US-based web security firm Blue Coat, Inc. for approximately USD 4.651bn in cash, the company said.
The transaction has been approved by the boards of directors of both companies and is expected to close in 3Q16. Greg Clark, chief executive officer of Blue Coat, will be appointed chief executive officer of Symantec and join the Symantec Board upon closing of the transaction.
Status: Agreed
-PLATA RESOURCES/NEXUS BIOPHARMA TIE-UP COMPLETES
US-based Plata Resources, Inc. (OTCBB: PTAE) has completed a merger with life science company Nexus BioPharma, Inc. and taken on that company's name to become Nexus BioPharma, Inc. (OTCBB NEXS), the company said.
In connection with the transaction, the company received 100% of the issued and outstanding shares of common stock of Nexus, which became the wholly-owned operating subsidiary of the company.
Status: Closed
-INVESTOR GROUP BUYS 80% OF FRENCH FOOTBALL CLUB OGC NICE
A group of international investors has acquired 80% of French football club OGC Nice's parent, SASP Olympique Gymnaste Club Nice Côte d' Azur, the club said.
Jean-Pierre Rivère, president of the club, will retain a 20% shareholding and remain in his current leadership role. Representing the new ownership club on its supervisory board will be Chien Lee, Nanyan "Alex" Zheng, Paul Conway and Elliot Hayes.
Status: Closed
-ULTRAPAR TO ACQUIRE BRAZILIAN FUEL DISTRIBUTOR
Brazilian multi-business company Ultrapar Participações S.A.'s (NYSE: UGP) Ipiranga Produtos de Petróleo S.A. subsidiary has signed a sale and purchase agreement for the acquisition of 100% of Brazilian fuel distributor Alesat Combustíveis S.A. and the assets integrating its operations, under which Ultrapar is a guarantor, the company said.
According to the company, the total value of the acquisition is BRL 2.168bn (USD 630m).
Status: Agreed
-RPC GROUP, BRITISH POLYTHENE REACH TERMS ON GBP 261M OFFER
UK-based plastic packaging company RPC Group plc (LSE: RPC) and UK-based polythene films producer British Polythene Industries plc have reached agreement on the terms of a recommended cash and share offer to be made by RPC for the entire issued and to be issued ordinary share capital of BPI, the companies said.
Under the terms of the offer, each BPI Shareholder will be entitled to receive 470 pence in cash and 0.60141 of a new RPC share.
Status: Agreed
-TERN'S ACQUISITION OF UK CLOUD ORCHESTRATION SOFTWARE FIRM FLEXIANT WILL NOT PROCEED
UK-based investment company Tern Plc's (AIM: TERN) planned acquisition of UK-based cloud orchestration software firm Flexiant Ltd. from Flexiant Corp. Ltd. will not proceed, the company said.
As the conditions have not been met the acquisition as outlined will not proceed. Tern said that discussions are continuing and further updates will be provided in the event of any new developments.
Tern had agreed, subject to contract and completion of satisfactory due diligence, to acquire Flexiant.
Status: Terminated
-FRONTLINE ACQUIRES VLCC NEWBUILDING CONTRACTS FOR USD 168M
Bermuda-based tanker shipping company Frontline Ltd. (NYSE: FRO) has acquired two VLCC newbuildings under construction at Hyundai Heavy Industries at a purchase price of USD 84m each, the company said. The vessels are due for delivery in September and November 2016.
Frontline said it has also secured options for two additional sister vessels with delivery in January and March 2017 at a purchase price of USD 85m each.
Status: Closed
-CLARIANT NIXES DEAL TO BUY EUROPEAN DE-ICING BUSINESS FROM KILFROST
Swiss specialty chemicals company Clariant and UK-based antifreeze company Kilfrost have terminated the acquisition agreement they entered into on 19 November 2015, relating to the sale and purchase of the European aircraft and rail de-/anti-icing businesses of Kilfrost, the companies said.
Both companies have agreed to withdraw from the proposed transaction due to commercial reasons and challenges in obtaining regulatory approval in the United Kingdom. In 2015, Clariant acquired the Kilfrost de-icing business in North America and Asia.
Status: Agreed
-3I INFRASTRUCTURE ACQUIRES 36% STAKE IN SCOTTISH COMMUNICATIONS INFRASTRUCTURE FIRM
Jersey-based investment company 3i Infrastructure plc has completed the acquisition of a 36% economic interest in Scottish communications infrastructure provider Wireless Infrastructure Group, the company said. The closing followis clearance from the European Commission under the EU Merger Regulation. 3i Infrastructure has invested GBP 75m (USD 106.47m) to acquire its interest.
Status: Closed
-BOND INTERNATIONAL SOFTWARE REJECTS GBP 44.2M CONSTELLATION OFFER
UK-based recruiting software company Bond International Software plc (LSE: BDI) has rejected a possible offer from Canada-based Constellation Software Inc. (TSX: CSU), the company said.
The offer was proposed on 3 June. It called for Bond to pay 105p per Bond ordinary share, in a deal worth GBP 44.2m. Constellation president Mark Leonard, and the firm's Trapeze ITS Luxembourg SARL subsidiary together hold a 29.6% stake in Bond.
Status: Bidding
-TESCO TO SELL KIPA BUSINESS IN TURKEY, GIRAFFE RESTAURANT CHAIN
UK-based grocery and general merchandise retailer Tesco plc (LSE: TSCO) has confirmed the proposed sale of its 95.5% controlling stake in the Kipa business in Turkey to Migros, the company said.
The disposal, which is subject to usual local regulatory approvals, will result in estimated cash proceeds of around GBP 30m, contributing to a reduction of around GBP 110m (USD 156.16m) in total indebtedness. In a separate transaction, Tesco also announced its intention to sell the Giraffe restaurant chain to Boparan Restaurants Holdings Ltd.
Status: Agreed
-ARBUTHNOT BANKING BUYS LONDON PROPERTY FOR GBP 50.2M
UK-based financial services group Arbuthnot Banking Group plc's Arbuthnot Latham and Co., Ltd. subsidiary has acquired premises in the West End of London, the bank said. The bank acquired 20 King Street/10 St James's Street, predominantly as an investment for its Arbuthnot Latham private banking business.
However, in due course these premises may allow Arbuthnot Latham to develop its presence in the West End, occupying part of the property for client purposes. The property comprises 22,450 square feet of office space and approximately 7,000 square feet of retail space.
Status: Closed
-SPECIALIST INVESTMENT PROPERTIES MAKES BIRMINGHAM, UK ACQUISITION
UK-based real estate investor Specialist Investment Properties plc's (LSE: SIPP) has acquired its fifth property since implementing its new investment policy in early 2016, the company said.
Secta Properties Ltd. a subsidiary of SIPP, has exchanged on a property in Birmingham which is to be leased to Meadows Care Ltd. as a children's home on a 25-year inflation linked full repair and insuring lease. Completion is due to occur on 8 July 2016.
Status: Closed
-MICRON TECHNOLOGY WILL NOT CLOSE ACQUISITION OF INOTERA JV ON SCHEDULE
US-based semiconductor systems company Micron Technology, Inc. (NASDAQ: MU) will not be closing its acquisition of the remaining interest in its Taiwan-based Inotera JV on schedule, the company said.
While the acquisition was initially expected to close in mid-July 2016, the parties have concluded that closing the transaction on this timeframe is not possible. Micron expects to provide an update toward the latter part of calendar 2016.
Status: Agreed
-MERITAGE ACQUIRES 8 WENDY'S RESTAURANTS IN OKLAHOMA CITY
US-based restaurant operator Meritage Hospitality Group Inc. (OTCQX: MHGU) has completed the acquisition of 8 Wendy's restaurants located in the Oklahoma City designated market area, the company said.
The company also reported it has signed a definitive agreement to acquire an additional ten Wendy's in the Oklahoma City designated market area, with the transaction closing planned for late summer. The company expects the eight restaurant acquisition to add approximately USD 11.5m in annual sales and be accretive to earnings.
Status: Closed
-ATRIA TO ACQUIRE MAJORITY SHARE OF FINNISH HAMBURGER SUPPLIER KAIVON LIHA
Finnish food company Atria Plc has agreed to acquire a 70% stake in Finnish hamburger supplier Kaivon Liha Kaunismaa Oy, the company said. Kaivon Liha focuses its business on the processing and wholesale of beef. The company's customers are mainly fast-food chains and food service customers.
The company has a strong market position in Finland as a manufacturer of hamburger and kebab products. Atrai said that the product range of Kaivon Liha complements its product range in beef products.
Status: Agreed
-EUROPEAN COMMISSION CLEARS SYSCO'S USD 3.1BN DEAL TO ACQUIRE BRAKES GROUP
The European Commission has unconditionally cleared US-based foodservice distributor Sysco Corp.'s (NYSE: SYY) definitive agreement to acquire European foodservice distributor Brakes Group, the company said.
Sysco announced in February that it had reached a definitive agreement to acquire the Brakes Group, a European foodservice distributor with operations in the United Kingdom, France, Sweden, Ireland, Spain, Belgium and Luxembourg, from Bain Capital Private Equity. The transaction is valued at approximately USD 3.1bn or approximately GBP 2.2bn British pounds.
Status: Agreed
-CPM ACQUISITION BUYS GRIDDLE MACHINERY MAKER
US-based mergers and acquisitions firm Woodbridge International's client TSA Griddle Systems, has been sold to CPM Acquisition Corp., the firm said.
Based in Carrollton, Texas, TSA Griddle Systems designs and manufactures high-output griddle machinery for large industrial users including some of the world's premier food companies. CPM, headquartered in Waterloo, Iowa, is a supplier of process equipment and systems to the oilseed, animal feed, bioenergy, food and engineered materials industries.
Status: Closed
-CANADIAN MINING FIRM MGX MINERALS ACQUIRES PILOT PLANT MILL FROM CMC METALS
Canadian mining company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) has acquired, on a trial basis with an option to purchase, a full-scale pilot plant mill from CMC Metals Ltd. (TSX Venture: CMB), the company said.
The Mill equipment includes a jaw crusher, ball mill, flotation cells, cyclone dewatering equipment and a tailings filtration and thickener system. The Mill is currently on care and maintenance in the Yukon.
Status: Closed
-CARLISLE ACQUIRES INDUSTRIAL WIRE AND CABLE FIRM MICRO-COAX
US-based industrial manufacturer Carlisle Companies Inc. (NYSE: CSL) has acquired US-based industrial wire and cable company Micro-Coax, Inc., the company said.
The business will operate as part of Carlisle Interconnect Technologies, a global provider of specialty wire and cable, and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment, communications systems and medical devices. With annual sales of approximately USD 45m and 235 employees, Micro-Coax has manufacturing facilities in Pottstown, Pennsylvania and a joint venture operation in Blackburn, UK.
Status: Closed
-RIVERVIEW BANK ACQUIRES PENNSYLVANIA FINANCIAL ADVISORY
US-based financial services firm Riverview Financial Corp.'s (OTCQX: RIVE) Riverview Bank subsidiary has acquired Palmyra, Pennsylvania-based independent financial advisory firm Your Vision Financial Services, the firm said.
The acquired firm will continue to operate from its current Palmyra office location under the name Riverview Wealth Management.
Status: Closed
-BRENNAN INDUSTRIES ACQUIRES UK-BASED TRUFLOW HYDRAULIC COMPONENTS
Cleveland, Ohio-based fittings manufacturer Brennan Industries Inc. has agreed to acquire West Midlands, UK-based Truflow Hydraulic Components Ltd, the company said.
Established in 1986, Truflow is a privately owned ISO certified company focused on the supply and manufacture of quality hydraulic products. Brennan has been in business for over 60 years supplying customers worldwide with more than 40,000 standard and special hydraulic fittings and adapters.
Status: Closed
-NOVIK ACQUIRES HOME EXTERIOR SPECIALIST EXTERIA BUILDING PRODUCTS
Canada-based shake and stone manufacturer and distributor Novik has acquired Miami, Florida-based home exterior covering provider Exteria Building Products, the company said.
US-based investment fund Clearview Capital Fund III, LP, principals of Novik since 2014, completed the purchase from an affiliate of US-based private equity firm Graham Partners, owner of Exteria Building Products and its co-investors. Novik makes NovikShake, NovikStone and accents that replicate the natural beauty and texture of wood and stone materials. The company offers attainable luxury that is attractive and easy to install.
Status: Closed
-GREEN CROSS SERVICES ACQUIRES HALO BIOSYNTHESIS LABORATORIES, ROYAL TRADE
US-based B2B medical marijuana service Green Cross Services, Inc. has acquired Washington-based makers of health products and formulations HALO BioSynthesis Laboratories, Inc. and Royal Trade Corp., the company said.
HALO Labs, Royal Trade Corp and Green Gross Services have begun developing naturally grown and refined pure Cannabidiol Isolate (99.8% purity) formulations and medicinal grade products for use in the US and most countries.
Status: Closed
-ERP SUITES ACQUIRES SYSTEMS INTEGRATION SERVICES FIRM TRUE CLARITY
US-based consultant services company ERP Suites has completed acquisition of JD Edwards applications services partner US-based integration services organisation True Clarity, the company said. True Clarity provides systems integration services.
Status: Closed
-ADCOMM ACQUIRES DIRECTV INTEGRATOR MEDIAWORKS
US-based satellite entertainment industry installation and customer support company Adcomm has acquired US-based DirecTV integrator MediaWorks, the company said.
Adcomm works within the hospitality and healthcare industries. The agreement merges Adcomm's nationwide installation and operational capabilities with MediaWorks' sales expertise to grow Adcomm's foothold in the DirecTV hospitality and healthcare markets.
Status: Closed
-COMMERCIAL PROGRESSION MERGES WITH DIGITAL AGENCY SYMMETRI MARKETING
US-based Drupal website design and development company Commercial Progression has merged with Chicago, Illinois-based brand and digital agency Symmetri Marketing Group, the company said.
Founded in 2008, Commercial Progression was led by Alex Fisher, who now joins Symmetri as the general manager of web design and development.
Status: Closed
-NEXUSTEK ACQUIRES DENVER-BASED BUSINESS SOLUTIONS FIRM IPREMISE
Denver-based managed IT services and business software consulting services firm NexusTek has acquired Colorado-based small business solutions provider iPremise, the company said.
iPremise president Rob Bosch joins the management team as executive vice president. NexusTek will now offer VoIP services that include conference calling, find-me/follow-me, and call queues with real-time reporting.
Status: Closed
-APTEAN ACQUIRES AUTOMATED MOBILE SOLUTIONS FIRM ADVANCED PUBLIC SAFETY
US-based mission critical enterprise software solutions provider Aptean has acquired US-based automated mobile solutions provider Advanced Public Safety Inc. (APS), the company said.
APS is a business of US-based technology provider Trimble (NASDAQ: TRMB), which provides software solutions for law enforcement and public safety agencies across the United States. The firm provides automated mobile solutions to public safety agencies to address the administrative challenges of issuing traffic citations and crash/accident reports.
Status: Closed
-DR REDDY'S TO ACQUIRE TEVA US DRUG PORTFOLIO FOR USD 350M
Indian drugmaker Dr. Reddy's Laboratories (NYSE: RDY) has entered into a definitive agreement with Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) (TASE: TEVA) and an affiliate of Allergan plc (NYSE: AGN) to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for USD 350m in cash at closing, the company said.
The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan's generics business.
Status: Agreed
-ON SEMICONDUCTOR EXTENDS TENDER OFFER FOR FAIRCHILD SEMICONDUCTOR, AGAIN
US-based chipmaker ON Semiconductor Corp. (NASDAQ: ON) has again extended its tender offer to purchase all of the outstanding shares of common stock of US-based chipmaker Fairchild Semiconductor International Inc. (NASDAQ: FCS) for USD 20.00 per share in cash, from 9 June until 23 June, the company said.
The deadline has been extended before, most recently from 12 May to 9 June, and before that, from 12 May to 26 May. Before that it was extended from 28 April to 12 May, and before that from 14 April to 28 April. Previously, it was extended 31 March to 14 April.
Status: Agreed
-SYMANTEC TO ACQUIRE WEB SECURITY SPECIALIST BLUE COAT FOR AROUND USD 4.651BN IN CASH
US-based cybersecurity firm Symantec (NASDAQ: SYMC) has entered into a definitive agreement to acquire US-based web security firm Blue Coat, Inc. for approximately USD 4.651bn in cash, the company said.
The transaction has been approved by the boards of directors of both companies and is expected to close in 3Q16. Greg Clark, chief executive officer of Blue Coat, will be appointed chief executive officer of Symantec and join the Symantec Board upon closing of the transaction.
Status: Agreed
-PLATA RESOURCES/NEXUS BIOPHARMA TIE-UP COMPLETES
US-based Plata Resources, Inc. (OTCBB: PTAE) has completed a merger with life science company Nexus BioPharma, Inc. and taken on that company's name to become Nexus BioPharma, Inc. (OTCBB NEXS), the company said.
In connection with the transaction, the company received 100% of the issued and outstanding shares of common stock of Nexus, which became the wholly-owned operating subsidiary of the company.
Status: Closed
-INVESTOR GROUP BUYS 80% OF FRENCH FOOTBALL CLUB OGC NICE
A group of international investors has acquired 80% of French football club OGC Nice's parent, SASP Olympique Gymnaste Club Nice Côte d' Azur, the club said.
Jean-Pierre Rivère, president of the club, will retain a 20% shareholding and remain in his current leadership role. Representing the new ownership club on its supervisory board will be Chien Lee, Nanyan "Alex" Zheng, Paul Conway and Elliot Hayes.
Status: Closed
-ULTRAPAR TO ACQUIRE BRAZILIAN FUEL DISTRIBUTOR
Brazilian multi-business company Ultrapar Participações S.A.'s (NYSE: UGP) Ipiranga Produtos de Petróleo S.A. subsidiary has signed a sale and purchase agreement for the acquisition of 100% of Brazilian fuel distributor Alesat Combustíveis S.A. and the assets integrating its operations, under which Ultrapar is a guarantor, the company said.
According to the company, the total value of the acquisition is BRL 2.168bn (USD 630m).
Status: Agreed
-RPC GROUP, BRITISH POLYTHENE REACH TERMS ON GBP 261M OFFER
UK-based plastic packaging company RPC Group plc (LSE: RPC) and UK-based polythene films producer British Polythene Industries plc have reached agreement on the terms of a recommended cash and share offer to be made by RPC for the entire issued and to be issued ordinary share capital of BPI, the companies said.
Under the terms of the offer, each BPI Shareholder will be entitled to receive 470 pence in cash and 0.60141 of a new RPC share.
Status: Agreed
-TERN'S ACQUISITION OF UK CLOUD ORCHESTRATION SOFTWARE FIRM FLEXIANT WILL NOT PROCEED
UK-based investment company Tern Plc's (AIM: TERN) planned acquisition of UK-based cloud orchestration software firm Flexiant Ltd. from Flexiant Corp. Ltd. will not proceed, the company said.
As the conditions have not been met the acquisition as outlined will not proceed. Tern said that discussions are continuing and further updates will be provided in the event of any new developments.
Tern had agreed, subject to contract and completion of satisfactory due diligence, to acquire Flexiant.
Status: Terminated
-FRONTLINE ACQUIRES VLCC NEWBUILDING CONTRACTS FOR USD 168M
Bermuda-based tanker shipping company Frontline Ltd. (NYSE: FRO) has acquired two VLCC newbuildings under construction at Hyundai Heavy Industries at a purchase price of USD 84m each, the company said. The vessels are due for delivery in September and November 2016.
Frontline said it has also secured options for two additional sister vessels with delivery in January and March 2017 at a purchase price of USD 85m each.
Status: Closed
-CLARIANT NIXES DEAL TO BUY EUROPEAN DE-ICING BUSINESS FROM KILFROST
Swiss specialty chemicals company Clariant and UK-based antifreeze company Kilfrost have terminated the acquisition agreement they entered into on 19 November 2015, relating to the sale and purchase of the European aircraft and rail de-/anti-icing businesses of Kilfrost, the companies said.
Both companies have agreed to withdraw from the proposed transaction due to commercial reasons and challenges in obtaining regulatory approval in the United Kingdom. In 2015, Clariant acquired the Kilfrost de-icing business in North America and Asia.
Status: Agreed
-3I INFRASTRUCTURE ACQUIRES 36% STAKE IN SCOTTISH COMMUNICATIONS INFRASTRUCTURE FIRM
Jersey-based investment company 3i Infrastructure plc has completed the acquisition of a 36% economic interest in Scottish communications infrastructure provider Wireless Infrastructure Group, the company said. The closing followis clearance from the European Commission under the EU Merger Regulation. 3i Infrastructure has invested GBP 75m (USD 106.47m) to acquire its interest.
Status: Closed
-BOND INTERNATIONAL SOFTWARE REJECTS GBP 44.2M CONSTELLATION OFFER
UK-based recruiting software company Bond International Software plc (LSE: BDI) has rejected a possible offer from Canada-based Constellation Software Inc. (TSX: CSU), the company said.
The offer was proposed on 3 June. It called for Bond to pay 105p per Bond ordinary share, in a deal worth GBP 44.2m. Constellation president Mark Leonard, and the firm's Trapeze ITS Luxembourg SARL subsidiary together hold a 29.6% stake in Bond.
Status: Bidding
-TESCO TO SELL KIPA BUSINESS IN TURKEY, GIRAFFE RESTAURANT CHAIN
UK-based grocery and general merchandise retailer Tesco plc (LSE: TSCO) has confirmed the proposed sale of its 95.5% controlling stake in the Kipa business in Turkey to Migros, the company said.
The disposal, which is subject to usual local regulatory approvals, will result in estimated cash proceeds of around GBP 30m, contributing to a reduction of around GBP 110m (USD 156.16m) in total indebtedness. In a separate transaction, Tesco also announced its intention to sell the Giraffe restaurant chain to Boparan Restaurants Holdings Ltd.
Status: Agreed
-ARBUTHNOT BANKING BUYS LONDON PROPERTY FOR GBP 50.2M
UK-based financial services group Arbuthnot Banking Group plc's Arbuthnot Latham and Co., Ltd. subsidiary has acquired premises in the West End of London, the bank said. The bank acquired 20 King Street/10 St James's Street, predominantly as an investment for its Arbuthnot Latham private banking business.
However, in due course these premises may allow Arbuthnot Latham to develop its presence in the West End, occupying part of the property for client purposes. The property comprises 22,450 square feet of office space and approximately 7,000 square feet of retail space.
Status: Closed
-SPECIALIST INVESTMENT PROPERTIES MAKES BIRMINGHAM, UK ACQUISITION
UK-based real estate investor Specialist Investment Properties plc's (LSE: SIPP) has acquired its fifth property since implementing its new investment policy in early 2016, the company said.
Secta Properties Ltd. a subsidiary of SIPP, has exchanged on a property in Birmingham which is to be leased to Meadows Care Ltd. as a children's home on a 25-year inflation linked full repair and insuring lease. Completion is due to occur on 8 July 2016.
Status: Closed
-MICRON TECHNOLOGY WILL NOT CLOSE ACQUISITION OF INOTERA JV ON SCHEDULE
US-based semiconductor systems company Micron Technology, Inc. (NASDAQ: MU) will not be closing its acquisition of the remaining interest in its Taiwan-based Inotera JV on schedule, the company said.
While the acquisition was initially expected to close in mid-July 2016, the parties have concluded that closing the transaction on this timeframe is not possible. Micron expects to provide an update toward the latter part of calendar 2016.
Status: Agreed
-MERITAGE ACQUIRES 8 WENDY'S RESTAURANTS IN OKLAHOMA CITY
US-based restaurant operator Meritage Hospitality Group Inc. (OTCQX: MHGU) has completed the acquisition of 8 Wendy's restaurants located in the Oklahoma City designated market area, the company said.
The company also reported it has signed a definitive agreement to acquire an additional ten Wendy's in the Oklahoma City designated market area, with the transaction closing planned for late summer. The company expects the eight restaurant acquisition to add approximately USD 11.5m in annual sales and be accretive to earnings.
Status: Closed
-ATRIA TO ACQUIRE MAJORITY SHARE OF FINNISH HAMBURGER SUPPLIER KAIVON LIHA
Finnish food company Atria Plc has agreed to acquire a 70% stake in Finnish hamburger supplier Kaivon Liha Kaunismaa Oy, the company said. Kaivon Liha focuses its business on the processing and wholesale of beef. The company's customers are mainly fast-food chains and food service customers.
The company has a strong market position in Finland as a manufacturer of hamburger and kebab products. Atrai said that the product range of Kaivon Liha complements its product range in beef products.
Status: Agreed
-EUROPEAN COMMISSION CLEARS SYSCO'S USD 3.1BN DEAL TO ACQUIRE BRAKES GROUP
The European Commission has unconditionally cleared US-based foodservice distributor Sysco Corp.'s (NYSE: SYY) definitive agreement to acquire European foodservice distributor Brakes Group, the company said.
Sysco announced in February that it had reached a definitive agreement to acquire the Brakes Group, a European foodservice distributor with operations in the United Kingdom, France, Sweden, Ireland, Spain, Belgium and Luxembourg, from Bain Capital Private Equity. The transaction is valued at approximately USD 3.1bn or approximately GBP 2.2bn British pounds.
Status: Agreed
-CPM ACQUISITION BUYS GRIDDLE MACHINERY MAKER
US-based mergers and acquisitions firm Woodbridge International's client TSA Griddle Systems, has been sold to CPM Acquisition Corp., the firm said.
Based in Carrollton, Texas, TSA Griddle Systems designs and manufactures high-output griddle machinery for large industrial users including some of the world's premier food companies. CPM, headquartered in Waterloo, Iowa, is a supplier of process equipment and systems to the oilseed, animal feed, bioenergy, food and engineered materials industries.
Status: Closed
-CANADIAN MINING FIRM MGX MINERALS ACQUIRES PILOT PLANT MILL FROM CMC METALS
Canadian mining company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) has acquired, on a trial basis with an option to purchase, a full-scale pilot plant mill from CMC Metals Ltd. (TSX Venture: CMB), the company said.
The Mill equipment includes a jaw crusher, ball mill, flotation cells, cyclone dewatering equipment and a tailings filtration and thickener system. The Mill is currently on care and maintenance in the Yukon.
Status: Closed
-CARLISLE ACQUIRES INDUSTRIAL WIRE AND CABLE FIRM MICRO-COAX
US-based industrial manufacturer Carlisle Companies Inc. (NYSE: CSL) has acquired US-based industrial wire and cable company Micro-Coax, Inc., the company said.
The business will operate as part of Carlisle Interconnect Technologies, a global provider of specialty wire and cable, and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment, communications systems and medical devices. With annual sales of approximately USD 45m and 235 employees, Micro-Coax has manufacturing facilities in Pottstown, Pennsylvania and a joint venture operation in Blackburn, UK.
Status: Closed
-RIVERVIEW BANK ACQUIRES PENNSYLVANIA FINANCIAL ADVISORY
US-based financial services firm Riverview Financial Corp.'s (OTCQX: RIVE) Riverview Bank subsidiary has acquired Palmyra, Pennsylvania-based independent financial advisory firm Your Vision Financial Services, the firm said.
The acquired firm will continue to operate from its current Palmyra office location under the name Riverview Wealth Management.
Status: Closed
-BRENNAN INDUSTRIES ACQUIRES UK-BASED TRUFLOW HYDRAULIC COMPONENTS
Cleveland, Ohio-based fittings manufacturer Brennan Industries Inc. has agreed to acquire West Midlands, UK-based Truflow Hydraulic Components Ltd, the company said.
Established in 1986, Truflow is a privately owned ISO certified company focused on the supply and manufacture of quality hydraulic products. Brennan has been in business for over 60 years supplying customers worldwide with more than 40,000 standard and special hydraulic fittings and adapters.
Status: Closed
-NOVIK ACQUIRES HOME EXTERIOR SPECIALIST EXTERIA BUILDING PRODUCTS
Canada-based shake and stone manufacturer and distributor Novik has acquired Miami, Florida-based home exterior covering provider Exteria Building Products, the company said.
US-based investment fund Clearview Capital Fund III, LP, principals of Novik since 2014, completed the purchase from an affiliate of US-based private equity firm Graham Partners, owner of Exteria Building Products and its co-investors. Novik makes NovikShake, NovikStone and accents that replicate the natural beauty and texture of wood and stone materials. The company offers attainable luxury that is attractive and easy to install.
Status: Closed
-GREEN CROSS SERVICES ACQUIRES HALO BIOSYNTHESIS LABORATORIES, ROYAL TRADE
US-based B2B medical marijuana service Green Cross Services, Inc. has acquired Washington-based makers of health products and formulations HALO BioSynthesis Laboratories, Inc. and Royal Trade Corp., the company said.
HALO Labs, Royal Trade Corp and Green Gross Services have begun developing naturally grown and refined pure Cannabidiol Isolate (99.8% purity) formulations and medicinal grade products for use in the US and most countries.
Status: Closed
-ERP SUITES ACQUIRES SYSTEMS INTEGRATION SERVICES FIRM TRUE CLARITY
US-based consultant services company ERP Suites has completed acquisition of JD Edwards applications services partner US-based integration services organisation True Clarity, the company said. True Clarity provides systems integration services.
Status: Closed
-ADCOMM ACQUIRES DIRECTV INTEGRATOR MEDIAWORKS
US-based satellite entertainment industry installation and customer support company Adcomm has acquired US-based DirecTV integrator MediaWorks, the company said.
Adcomm works within the hospitality and healthcare industries. The agreement merges Adcomm's nationwide installation and operational capabilities with MediaWorks' sales expertise to grow Adcomm's foothold in the DirecTV hospitality and healthcare markets.
Status: Closed
-COMMERCIAL PROGRESSION MERGES WITH DIGITAL AGENCY SYMMETRI MARKETING
US-based Drupal website design and development company Commercial Progression has merged with Chicago, Illinois-based brand and digital agency Symmetri Marketing Group, the company said.
Founded in 2008, Commercial Progression was led by Alex Fisher, who now joins Symmetri as the general manager of web design and development.
Status: Closed
-NEXUSTEK ACQUIRES DENVER-BASED BUSINESS SOLUTIONS FIRM IPREMISE
Denver-based managed IT services and business software consulting services firm NexusTek has acquired Colorado-based small business solutions provider iPremise, the company said.
iPremise president Rob Bosch joins the management team as executive vice president. NexusTek will now offer VoIP services that include conference calling, find-me/follow-me, and call queues with real-time reporting.
Status: Closed
-APTEAN ACQUIRES AUTOMATED MOBILE SOLUTIONS FIRM ADVANCED PUBLIC SAFETY
US-based mission critical enterprise software solutions provider Aptean has acquired US-based automated mobile solutions provider Advanced Public Safety Inc. (APS), the company said.
APS is a business of US-based technology provider Trimble (NASDAQ: TRMB), which provides software solutions for law enforcement and public safety agencies across the United States. The firm provides automated mobile solutions to public safety agencies to address the administrative challenges of issuing traffic citations and crash/accident reports.
Status: Closed
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