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Deal Pipeline
Tuesday 21 June 2016
The following is a list of deals covered in detail by M and A Navigator this week:
-DA DAVIDSON ADVISES CAPSTONE TECHNOLOGY ON SALE TO SPECTRIS
US-based investment firm D.A. Davidson and Co. served as exclusive financial advisor to US-based software firm Capstone Technology Corp related to its acquisition by UK-based productivity-enhancing instrumentation and controls supplier Spectris plc, the firm said.
Capstone Technology provides software solutions for process control optimisation and decision support analytics. Spectris bought Capstone Technology for USD 22.5m.
Status: Closed
-CANADIAN BIOTECH FIRM QLT TO MERGE WITH AEGERION PHARMACEUTICALS
US-based drugmaker Aegerion Pharmaceuticals, Inc. (NASDAQ: AEGR) and Canadian biotechnology company QLT Inc. (NASDAQ: QLTI) (TSX: QLT) have entered into a definitive merger agreement under which Aegerion will be merged with a wholly owned indirect subsidiary of QLT, the companies said.
Upon completion of the proposed merger, each outstanding share of Aegerion common stock will be exchanged for 1.0256 shares of QLT common stock.
Status: Agreed
-DRUGMAKERS CARBYLAN THERAPEUTICS, KALVISTA PHARMACEUTICALS TO MERGE
US-based drugmaker Carbylan Therapeutics, Inc. (NASDAQ: CBYL) and UK-based KalVista Pharmaceuticals Ltd. have entered into a definitive share purchase agreement pursuant to which the shareholders of KalVista will become the majority owners of Carbylan, the companies said.
If approved, Carbylan will be renamed KalVista Pharmaceuticals, Inc. The transaction has been unanimously approved by the boards of directors of both companies.
Status: Agreed
-FERRELLGAS ACQUIRES COLORADO PROPANE RETAILER SELPH'S
US-based midstream services provider Ferrellgas Partners, L.P. (NYSE: FGP) has acquired Colorado, US-based propane retailer Selph's Propane, the company said.
Selph's Propane is the most recent of nearly 240 propane acquisitions Ferrellgas has completed during its more than 75-year history moves that have helped it grow from a single-location, independently owned propane provider to one of the largest publicly traded propane retailers in the United States.
Status: Closed
-IES HOLDINGS BUYS ELECTRICAL COMPONENTS MANUFACTURER TECHNIBUS IN USD 45M CASH DEAL
US-based industrial infrastructure services company IES Holdings, Inc.'s (NASDAQ: IESC) IES subsidiary has completed its acquisition of US-based electrical component manufacturer Technibus, Inc. in an all cash transaction valued at approximately USD 45m, the company said.
Canton, Ohio-based Technibus is a manufacturer of custom-engineered, metal enclosed bus duct solutions. Technibus will operate as a subsidiary in IES's Infrastructure Solutions segment and will continue to operate under the Technibus name.
Status: Closed
-LEED RESOURCES CONTINUES DUE DILIGENCE INTO ACQUISITION OF LIMESTONE, WALL PANEL MAKER BATTALION
UK-based investing company Leed Resources plc's directors have been continuing to conduct due diligence into the potential acquisition of Australian limestone and wall panel systems provider Battalion International Ltd, the company said.
In February, Leed announced a deal to acquire 100% of Battalion. Previously, in August 2015, the company said it had lined up AUD 1.68m (USD 1.26m) to invest in Battalion. This deal would result in Leed becoming the controlling shareholder of High Mannor Pty Ltd upon completion and would constitute a reverse takeover.
Status: Agreed
-ARBUTHNOT BANKING CLOSES SALE OF 33% STAKE IN SECURE TRUST BANK UNIT
UK-based financial services group Arbuthnot Banking Group plc has closed the sale of 6m ordinary shares of its UK-based Secure Trust Bank plc (LSE: STB) retail and commercial banking subsidiary at 40 pence, the company said.
This represents 33% of Secure Trust's existing issued share capital. USD 3.53m. With this move Arbuthnot, goes from being the majority owner of Secure Trust to a minority owner.
Status: Closed
-BLACKSTONE ACQUIRES DUBLIN RETAIL, LEISURE CENTRE FROM GREEN PROPERTY
US-based investment firm Blackstone's (NYSE: BX) Blackstone Real Estate Partners Europe IV platform has closed the acquisition of Irish retail and leisure destination Blanchardstown Centre from Green Property, the company said.
The price was EUR 950m (USD 1.078bn). Blanchardstown Centre is a dominant 1.2m square foot retail complex comprising over 180 stores, together with numerous restaurants and leisure facilities, including a nine-screen cinema.
Status: Closed
-WILLIAMS: "3 OUT OF 4" PROXY ADVISORS CAN'T BE WRONG
Three out of four of the leading proxy advisory firms Institutional Shareholder Services Egan-Jones Proxy Services and Pensions and Investment Research Consultants Ltd. Europe's largest independent corporate governance and shareholder advisory consultancy recommend that US-based gas pipeline operator The Williams Companies, Inc.'s (NYSE: WMB) stockholders vote "FOR" the proposed transaction with Energy Transfer Equity, L.P. (NYSE: ETE) at Williams' special meeting of stockholders scheduled for 27 June, Williams is pointing out in a new release.
Of course, that leaves Glass Lewis, who are recommending that Williams Shareholders reject the deal. Williams said that it believes Glass, Lewis and Co. reached the wrong conclusion in recommending against the proposed transaction.
Status: Agreed
-THREE GENERIC DRUG DISTRIBUTION VETERANS TEAM UP TO BUY KEYSOURCE MEDICAL
US generic drug distribution veterans Randolph Friedman, Jay Levine and Albert Paonessa III are teaming up to buy US-based generic pharmaceuticals distributor KeySource Medical Inc, the principals said.
Friedman's firm, Friedman Capital, in partnership with Jonathan Z. Cohen and Edward E. Cohen through New York-based Seal Rock Partners and Stephanie Ring, former co-founder and CEO of KeySource Medical have acquired the Ohio company.
Status: Agreed
-NASSAU REINSURANCE CLOSES ACQUISITION OF THE PHOENIX COMPANIES
US-based insurer and reinsurer Nassau Reinsurance Group Holdings L.P. has closed the acquisition of US-based insurer The Phoenix Companies, Inc. (NYSE: PNX) pursuant to an agreement and plan of merger entered into on 28 September 2015, the company said.
Together with the regulatory approval previously received from the Connecticut Insurance Department, Nassau Re now has the required regulatory approvals to close the merger. Subject to the satisfaction of customary closing conditions, Phoenix and Nassau Re intend to close the transaction on or about 20 June 2016.
Status: Closed
-TELIASONERA MAKES OFFER FOR FINNISH REGIONAL TELECOMMUNICATIONS OPERATOR ANVIA
Swedish telecommunications company TeliaSonera AB's (OSE: TEL) (STO: TLSN) (HEX: TLS1V) (LSE: TEE) (NASDAQ: TLSN) Sonera Finnish arm has made an indicative cash offer to acquire 100% of Finnish regional telecommunications operator Anvia for EUR 130m (USD 147.54m) on a cash and debt free basis, the company said.
Anvia's network is located in Western Finland and covers three cities, Vaasa, Seinäjoki and Kokkola, and smaller towns, reaching more than 100,000 households. In 2015 Anvia's net sales amounted to EUR 63.5m, EBITDA to EUR 15.2 m and EBITDA margin was 23.9%.
Status: Bidding
-VISA CLOSES ACQUISITION OF EUROPEAN ARM
US-based payments technology company Visa Inc. (NYSE: V) has closed the acquisition of its Visa Europe Ltd. London-based European arm, Visa said.
The transaction consists of upfront consideration of EUR 16.5bn with the potential for an additional earn-out of up to EUR 4.7bn payable following the fourth anniversary of closing, for a total value of up to EUR 21.2bn (USD 23.37bn). Visa said that the upfront consideration comprises EUR 11.5bn of cash and preferred stock convertible into Visa Inc. class A common stock valued at EUR 5bn.
Status: Closed
-BANKRATE CLOSES USD 79.3M ACQUISITION OF CREDIT CARD REVIEW SERVICE
US-based financial information publisher Bankrate, Inc. (NYSE: RATE) has closed the acquisition of the business of online financial content company NextAdvisor, Inc., Bankrate said. NextAdvisor is an online source of independent and research and reviews of credit cards, personal finance and Internet services.
Bankrate said the acquisition provides proprietary intellectual property, technological capability, analytics, and optimisation, particularly relating to the content marketing channel. The asset purchase includes upfront consideration of approximately USD 76.3m in cash and approximately USD 3m in time-based vesting restricted stock units.
Status: Closed
-SALESFORCE CLEARS US ANTITRUST HURDLE IN ACQUISITION OF DEMANDWARE
The deal under which US-based customer relationship platform Salesforce (NYSE: CRM) will acquire enterprise cloud commerce solutions provider Demandware (NYSE: DWRE) has been granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the companies said.
Salesforce recently launched a tender offer for all of the outstanding shares of common stock of Demandware at a price of USD 75.00 per share. Early in June, the companies entered into a definitive agreement under which Salesforce will acquire Demandware in a transaction worth approximately USD 2.8bn, the company said.
Status: Agreed
-BUILDING PRODUCTS MAKER PATRICK INDUSTRIES CLOSES USD 14M ACQUISITION OF MISHAWAKA SHEET METAL
US-based RV, manufactured component products maker Patrick Industries, Inc. (NASDAQ: PATK) has completed the acquisition of the business and certain assets of Elkhart, Indiana-based Mishawaka Sheet Metal, LLC, the company said.
MSM is a distributor and fabricator of a range of aluminium and steel products serving both the recreational vehicle and industrial markets. Patrick said that the company's 2015 revenues were approximately USD 28m and the company expects the acquisition to be immediately accretive to 2016 net income per share.
Status: Closed
-US ATM MAKER DIEBOLD WINS BRAZIL ANTITRUST CLEARANCE FOR USD 1.8BN WINCOR NIXDORF DEAL
US-based cash machine maker Diebold, Inc.'s (NYSE: DBD) planned acquisition of German banking software, hardware and services firm Wincor Nixdorf has recently obtained clearance from the Brazilian antitrust authority, the company said.
The deal recently cleared antitrust requirements from authorities in Portugal, Russia, Slovakia and Spain as well. As well as these latest clearances, Diebold has obtained antitrust clearance in the United States, China, Turkey and Austria.
Status: Agreed
-OPENTEXT TO ACQUIRE HP'S CUSTOMER COMMUNICATIONS MANAGEMENT ASSETS
Canadian enterprise information management specialist Open Text Corp. (NASDAQ: OTEX) (TSX: OTC) has entered into a definitive agreement to acquire the customer communications management assets from US-based computer maker HP Inc. (NYSE: HPQ), the company said.
The transaction purchase price is approximately USD 315m. These Assets include HP Exstream, HP Output Management, HP TeleForm and HP LiquidOffice for customer communications management, process automation and document delivery solutions.
Status: Agreed
-TWITTER BUYS UK-BASED MACHINE LEARNING, VIDEO INTELLIGENCE SPECIALIST MAGIC PONY
US-based social media platform Twitter (NYSE: TWTR) has acquired UK-based machine learning and visual processing technology Magic Pony Technology, the company said.
Terms of the deal were not disclosed. Industry reports put it at around USD 150. Twitter said that the deal expands the machine learning capabilities in its video technology and adding valuable talent to the company's Cortex team.
Status: Closed
-VISION RIDGE PARTNERS CLOSES ACQUISITION OF US ELECTRIC VEHICLE FAST-CHARGING NETWORK EVGO
US-based investment firm Vision Ridge Partners has closed the acquisition of electric vehicles fast-charging network EVgo, the firm said.
EVgo will now launch as an independent company, focused on expanding its charging network and leading more drivers to purchase and use electric vehicles nationwide. Since its development, EVgo has worked with automakers like Nissan, BMW, and Ford to develop a vehicle-centric customer experience.
Status: Closed
-ZIPDISH RESTAURANT DELIVERY SERVICE LAUNCHES FOLLOWING MERGER OF FOUR COMPANIES
US-based ZipDish has launched through the merger of restaurant delivery and catering services Delivery Wow in Chicago and South Florida, Café Courier in Columbus, Ohio, Room Service in Paradise in Honolulu and Delicious Deliveries in Phoenix and Tucson, the company said.
Headquartered in Chicago, Illinois and co-founded by Jeff Spitzer and Larry Neibauer, ZipDish is now the largest owner-operated restaurant and catering delivery service in the country delivering for 1,000's of restaurants including national chains Chili's, Rubio's and California Pizza Kitchen to name a few.
Status: Closed
-FOUNDERS OF HUMANA-ACQUIRED HEALTHCARE COMPANIES BUY SHARES IN SWEDISH FIRM
The founders of the Norway-based KOA Group (Kvæfjord Opplevelse og Avlastning AS) and Finland-based Arjessa Oy recently acquired by Swedish health care company Humana AB (STO: HUM), are reinvesting part of the consideration in shares in Humana AB, the companies said.
According to Humana, the companies' founders are together investing a total of SEK 32.5m in shares of Humana.
Status: Agreed
-CANADIAN INDUSTRIAL, ENVIRONMENTAL SERVICES FIRM ENVIROSYSTEMS ACQUIRES VICTORIA TREATMENT FACILITY FROM TERVITA
Canadian industrial and environmental services company Envirosystems Inc. has acquired the Victoria Treatment Facility located in Victoria, British Columbia from Tervita Corp., the company said.
According to Envirosystems, the facility handles multiple waste streams generated by shipyards, cruise ships, freighters, tankers and other marine vessels. The facility is also supported by a field services operation that collects and manages household hazardous waste materials and performs lab-packing work for a variety of commercial and government customers on Vancouver Island.
Status: Closed
-CANADIAN MINER GOLDCORP TO BUY 19.9% OF INDEPENDENCE GOLD SHARES
Canadian gold miner Goldcorp (TSX: G) (NYSE: GG) has entered into an agreement to acquire 10,884,880 common shares of Independence Gold Corp. at a price of CDN 0.1333 per share for an aggregate purchase price of CDN 1,450,954.50 (around USD 1.13m), the company said.
These 10,884,880 shares represent approximately 19.9% of the current issued and outstanding Shares of Independence Gold. The shares trade on the TSX Venture Exchange under the symbol "IGO."
Status: Agreed
-CANADIAN AIRFRAMER VIKING AIR BUYS BOMBARDIER'S WATERBOMBER AIRCRAFT BUSINESS
Canadian utility aircraft maker Viking Air Ltd. has acquired worldwide amphibious aircraft programme from Canadian manufacturer Bombardier (TSX: BBD.A) (TSX: BBD.B) (OTCQX: BDRBF), the company said.
Viking Air is known for producing the Twin Otter aircraft. The acquired amphibious aircraft programme includes the Bombardier CL-415 waterbomber and its variants, as well as the earlier CL-215 and CL-215T versions.
Status: Closed
-CI CAPITAL PARTNERS ACQUIRES EPIPHANY DERMATOLOGY
An affiliate of US-based private equity firm CI Capital Partners has acquired a majority interest in Texas, US-based dermatology clinic operator Epiphany Dermatology, the firm said.
The management team of Epiphany Dermatology has retained a significant equity ownership in the company. Epiphany Dermatology is an operator of dermatology clinics that currently operates seven general dermatology and skin cancer clinics in Central Texas.
Status: Closed
-US UTILITY FLORIDA POWER AND LIGHT TO BUY, PHASE OUT A COAL-FIRED POWER PLANT
US-based utility operator Florida Power and Light Co has filed a petition with the Florida Public Service Commission to request approval to purchase a coal-fired power plant located in Indiantown, Florida with which FPL has an existing long-term contract, the company said.
In its filing with the PSC, FPL proposes to purchase the ownership interest in the Indiantown Cogeneration facility for USD 451m (including existing debt), making FPL the owner of the facility. FPL is requesting PSC approval of the purchase by December 2016, so that the purchase can be completed as soon as possible to maximize customer savings.
Status: Agreed
-CAPONE STRATEGIES AND THE K FACTOR ENTERPRISES BECOME VILLA DI STRATEGIES
Los Angeles-based digital marketing and software programming company Capone Strategies Inc. and The K Factor Enterprises have merged effective in 1Q16 resulting in full service digital, brand consulting, marketing and publicity company Villa di Strategies 214, Inc., the companies said.
Scott Arthur Capone formed Capone Strategies, Inc. in 2010 and is a graduate of University of Southern California Marshall School of Business Lloyd Greif Center for Entrepreneurial Studies. He has a technology background and is currently the executive chairman of the USC Marshall Alumni Association after sitting on the board for five years as the CTO.
Status: Closed
-DEAN FOODS CLOSES USD 155M ACQUISITION O FRIENDLY'S ICE CREAM RETAIL, MANUFACTURING BUSINESS
US-based food and beverage company Dean Foods Co. (NYSE: DF) has agreed closed the acquisition of the manufacturing and retail ice cream business from an affiliate of US-based ice cream and dining brand Friendly's Ice Cream, LLC for USD 155m in cash, the company said.
Friendly's Restaurants, a family-dining restaurant chain with over 260 locations in the US, will continue to be owned and operated by an affiliate of Sun Capital Partners, Inc. and will license use of the Friendly's trademark under a license agreement entered into as part of the transaction.
Status: Closed
-THE STERLING GROUP CLOSES ACQUISITIONS OF NORTH AMERICAN INDUSTRIAL SERVICES, EVERGREEN INDUSTRIAL SERVICES
US-based private equity firm The Sterling Group has closed the simultaneous acquisitions of North American Industrial Services and Evergreen Industrial Services, the firm said.
The combination of the two businesses will form a new firm in industrial cleaning and related specialty cleaning services. Headquartered in Ballston Spa, New York, North American serves a diverse set of end markets with a geographic presence in the Northeast, Midwest, and Rocky Mountain regions.
Status: Closed
-TARGET HEALTHCARE REIT BUYS CARE HOME NEAR FRINTON-ON-SEA, ESSEX, UK
UK-based healthcare property investor Target Healthcare REIT Ltd. has exchanged contracts to acquire a purpose-built care home located in the village of Kirby Cross near Frinton-on-Sea, Essex, UK.
The home will be acquired for approximately GBP 9.2m (USD 13.49m) including acquisition costs, once works have been undertaken to complete the home to the group's specification. Completion of the transaction is expected in January 2017. This transaction is in accordance with the company's investment policy.
Status: Agreed
-SKANSKA FORMS US JV TO EXPAND FLORIDA HOSPITAL
Swedish construction group Skanska has been contracted by US-based hospital operator Lee Memorial Health System to expand and renovate the Gulf Coast Medical Center in Fort Myers, Florida, USA, the company said on Monday.
The total contract value is 200m. Skanska, leading a joint venture with Gates Construction, will include its full 89% share of the contract, worth 178m, about SEK 1.5bn, in the order bookings for Skanska USA Building in 2Q16.
Status: Agreed
-ACCENTURE ACQUIRES ISRAELI CYBERSECURITY SERVICES FIRM MAGLAN
US-based professional services company Accenture (NYSE: ACN) has acquired Israeli cybersecurity company Maglan, the company said.
Privately-held Maglan specialises in offensive cyber simulation, vulnerability countermeasures, cyber forensics and malware defenses, and IT security research and development with a focus on threat intelligence. Accenture said that the acquisition brings to it a team of highly skilled cybersecurity professionals, who honed their skills fighting cyber crime and confronting cyber espionage around the globe.
Status: Closed
-OPENGATE CAPITAL TO ACQUIRE ITALIAN PVC FILMS MANUFACTURER
US-based private equity firm OpenGate Capital has signed a definitive agreement with Emerald and PM and Partners for the acquisition of Italian flexible PVC films manufacturer Alfatherm S.p.A., the firm said on Monday.
The acquisition is expected to be complete in late June. Alfatherm was established more than 50 years ago and is the fourth largest European PVC film manufacturer, focused on the production and sale of rigid, semi-rigid and flexible PVC foils that are used for various applications.
Status: Agreed
-MEDNAX BUYS NEW YORK ANESTHESIOLOGY PRACTICE
US-based medical group Mednax, Inc. (NYSE: MD) has acquired White Plains, New York-based private physician group Westchester Anesthesiologists, PC, the company said. The practice was acquired by one of the company's affiliated professional contractors in New York.
Westchester Anesthesiologists provides anesthesia care across a wide spectrum of subspecialty areas in Westchester County.
Status: Closed
-TPG GROWTH TO ACQUIRE 40% STAKE IN PHILIPPINES-BASED ONE NETWORK BANK FROM BDO
US-based private investment firm TPG Capital's TPG Growth middle market and growth equity investment platform has inked an agreement with Philippines-based bank BDO Unibank, Inc., to acquire a 40% stake in Philippines-based One Network Bank, the firm said.
Based in Davao, ONB is the rural bank subsidiary of BDO, with more than 100 branches and offices. Following the transaction, BDO will retain approximately 60% ownership in ONB.
Status: Agreed
-DA DAVIDSON ADVISES CAPSTONE TECHNOLOGY ON SALE TO SPECTRIS
US-based investment firm D.A. Davidson and Co. served as exclusive financial advisor to US-based software firm Capstone Technology Corp related to its acquisition by UK-based productivity-enhancing instrumentation and controls supplier Spectris plc, the firm said.
Capstone Technology provides software solutions for process control optimisation and decision support analytics. Spectris bought Capstone Technology for USD 22.5m.
Status: Closed
-CANADIAN BIOTECH FIRM QLT TO MERGE WITH AEGERION PHARMACEUTICALS
US-based drugmaker Aegerion Pharmaceuticals, Inc. (NASDAQ: AEGR) and Canadian biotechnology company QLT Inc. (NASDAQ: QLTI) (TSX: QLT) have entered into a definitive merger agreement under which Aegerion will be merged with a wholly owned indirect subsidiary of QLT, the companies said.
Upon completion of the proposed merger, each outstanding share of Aegerion common stock will be exchanged for 1.0256 shares of QLT common stock.
Status: Agreed
-DRUGMAKERS CARBYLAN THERAPEUTICS, KALVISTA PHARMACEUTICALS TO MERGE
US-based drugmaker Carbylan Therapeutics, Inc. (NASDAQ: CBYL) and UK-based KalVista Pharmaceuticals Ltd. have entered into a definitive share purchase agreement pursuant to which the shareholders of KalVista will become the majority owners of Carbylan, the companies said.
If approved, Carbylan will be renamed KalVista Pharmaceuticals, Inc. The transaction has been unanimously approved by the boards of directors of both companies.
Status: Agreed
-FERRELLGAS ACQUIRES COLORADO PROPANE RETAILER SELPH'S
US-based midstream services provider Ferrellgas Partners, L.P. (NYSE: FGP) has acquired Colorado, US-based propane retailer Selph's Propane, the company said.
Selph's Propane is the most recent of nearly 240 propane acquisitions Ferrellgas has completed during its more than 75-year history moves that have helped it grow from a single-location, independently owned propane provider to one of the largest publicly traded propane retailers in the United States.
Status: Closed
-IES HOLDINGS BUYS ELECTRICAL COMPONENTS MANUFACTURER TECHNIBUS IN USD 45M CASH DEAL
US-based industrial infrastructure services company IES Holdings, Inc.'s (NASDAQ: IESC) IES subsidiary has completed its acquisition of US-based electrical component manufacturer Technibus, Inc. in an all cash transaction valued at approximately USD 45m, the company said.
Canton, Ohio-based Technibus is a manufacturer of custom-engineered, metal enclosed bus duct solutions. Technibus will operate as a subsidiary in IES's Infrastructure Solutions segment and will continue to operate under the Technibus name.
Status: Closed
-LEED RESOURCES CONTINUES DUE DILIGENCE INTO ACQUISITION OF LIMESTONE, WALL PANEL MAKER BATTALION
UK-based investing company Leed Resources plc's directors have been continuing to conduct due diligence into the potential acquisition of Australian limestone and wall panel systems provider Battalion International Ltd, the company said.
In February, Leed announced a deal to acquire 100% of Battalion. Previously, in August 2015, the company said it had lined up AUD 1.68m (USD 1.26m) to invest in Battalion. This deal would result in Leed becoming the controlling shareholder of High Mannor Pty Ltd upon completion and would constitute a reverse takeover.
Status: Agreed
-ARBUTHNOT BANKING CLOSES SALE OF 33% STAKE IN SECURE TRUST BANK UNIT
UK-based financial services group Arbuthnot Banking Group plc has closed the sale of 6m ordinary shares of its UK-based Secure Trust Bank plc (LSE: STB) retail and commercial banking subsidiary at 40 pence, the company said.
This represents 33% of Secure Trust's existing issued share capital. USD 3.53m. With this move Arbuthnot, goes from being the majority owner of Secure Trust to a minority owner.
Status: Closed
-BLACKSTONE ACQUIRES DUBLIN RETAIL, LEISURE CENTRE FROM GREEN PROPERTY
US-based investment firm Blackstone's (NYSE: BX) Blackstone Real Estate Partners Europe IV platform has closed the acquisition of Irish retail and leisure destination Blanchardstown Centre from Green Property, the company said.
The price was EUR 950m (USD 1.078bn). Blanchardstown Centre is a dominant 1.2m square foot retail complex comprising over 180 stores, together with numerous restaurants and leisure facilities, including a nine-screen cinema.
Status: Closed
-WILLIAMS: "3 OUT OF 4" PROXY ADVISORS CAN'T BE WRONG
Three out of four of the leading proxy advisory firms Institutional Shareholder Services Egan-Jones Proxy Services and Pensions and Investment Research Consultants Ltd. Europe's largest independent corporate governance and shareholder advisory consultancy recommend that US-based gas pipeline operator The Williams Companies, Inc.'s (NYSE: WMB) stockholders vote "FOR" the proposed transaction with Energy Transfer Equity, L.P. (NYSE: ETE) at Williams' special meeting of stockholders scheduled for 27 June, Williams is pointing out in a new release.
Of course, that leaves Glass Lewis, who are recommending that Williams Shareholders reject the deal. Williams said that it believes Glass, Lewis and Co. reached the wrong conclusion in recommending against the proposed transaction.
Status: Agreed
-THREE GENERIC DRUG DISTRIBUTION VETERANS TEAM UP TO BUY KEYSOURCE MEDICAL
US generic drug distribution veterans Randolph Friedman, Jay Levine and Albert Paonessa III are teaming up to buy US-based generic pharmaceuticals distributor KeySource Medical Inc, the principals said.
Friedman's firm, Friedman Capital, in partnership with Jonathan Z. Cohen and Edward E. Cohen through New York-based Seal Rock Partners and Stephanie Ring, former co-founder and CEO of KeySource Medical have acquired the Ohio company.
Status: Agreed
-NASSAU REINSURANCE CLOSES ACQUISITION OF THE PHOENIX COMPANIES
US-based insurer and reinsurer Nassau Reinsurance Group Holdings L.P. has closed the acquisition of US-based insurer The Phoenix Companies, Inc. (NYSE: PNX) pursuant to an agreement and plan of merger entered into on 28 September 2015, the company said.
Together with the regulatory approval previously received from the Connecticut Insurance Department, Nassau Re now has the required regulatory approvals to close the merger. Subject to the satisfaction of customary closing conditions, Phoenix and Nassau Re intend to close the transaction on or about 20 June 2016.
Status: Closed
-TELIASONERA MAKES OFFER FOR FINNISH REGIONAL TELECOMMUNICATIONS OPERATOR ANVIA
Swedish telecommunications company TeliaSonera AB's (OSE: TEL) (STO: TLSN) (HEX: TLS1V) (LSE: TEE) (NASDAQ: TLSN) Sonera Finnish arm has made an indicative cash offer to acquire 100% of Finnish regional telecommunications operator Anvia for EUR 130m (USD 147.54m) on a cash and debt free basis, the company said.
Anvia's network is located in Western Finland and covers three cities, Vaasa, Seinäjoki and Kokkola, and smaller towns, reaching more than 100,000 households. In 2015 Anvia's net sales amounted to EUR 63.5m, EBITDA to EUR 15.2 m and EBITDA margin was 23.9%.
Status: Bidding
-VISA CLOSES ACQUISITION OF EUROPEAN ARM
US-based payments technology company Visa Inc. (NYSE: V) has closed the acquisition of its Visa Europe Ltd. London-based European arm, Visa said.
The transaction consists of upfront consideration of EUR 16.5bn with the potential for an additional earn-out of up to EUR 4.7bn payable following the fourth anniversary of closing, for a total value of up to EUR 21.2bn (USD 23.37bn). Visa said that the upfront consideration comprises EUR 11.5bn of cash and preferred stock convertible into Visa Inc. class A common stock valued at EUR 5bn.
Status: Closed
-BANKRATE CLOSES USD 79.3M ACQUISITION OF CREDIT CARD REVIEW SERVICE
US-based financial information publisher Bankrate, Inc. (NYSE: RATE) has closed the acquisition of the business of online financial content company NextAdvisor, Inc., Bankrate said. NextAdvisor is an online source of independent and research and reviews of credit cards, personal finance and Internet services.
Bankrate said the acquisition provides proprietary intellectual property, technological capability, analytics, and optimisation, particularly relating to the content marketing channel. The asset purchase includes upfront consideration of approximately USD 76.3m in cash and approximately USD 3m in time-based vesting restricted stock units.
Status: Closed
-SALESFORCE CLEARS US ANTITRUST HURDLE IN ACQUISITION OF DEMANDWARE
The deal under which US-based customer relationship platform Salesforce (NYSE: CRM) will acquire enterprise cloud commerce solutions provider Demandware (NYSE: DWRE) has been granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the companies said.
Salesforce recently launched a tender offer for all of the outstanding shares of common stock of Demandware at a price of USD 75.00 per share. Early in June, the companies entered into a definitive agreement under which Salesforce will acquire Demandware in a transaction worth approximately USD 2.8bn, the company said.
Status: Agreed
-BUILDING PRODUCTS MAKER PATRICK INDUSTRIES CLOSES USD 14M ACQUISITION OF MISHAWAKA SHEET METAL
US-based RV, manufactured component products maker Patrick Industries, Inc. (NASDAQ: PATK) has completed the acquisition of the business and certain assets of Elkhart, Indiana-based Mishawaka Sheet Metal, LLC, the company said.
MSM is a distributor and fabricator of a range of aluminium and steel products serving both the recreational vehicle and industrial markets. Patrick said that the company's 2015 revenues were approximately USD 28m and the company expects the acquisition to be immediately accretive to 2016 net income per share.
Status: Closed
-US ATM MAKER DIEBOLD WINS BRAZIL ANTITRUST CLEARANCE FOR USD 1.8BN WINCOR NIXDORF DEAL
US-based cash machine maker Diebold, Inc.'s (NYSE: DBD) planned acquisition of German banking software, hardware and services firm Wincor Nixdorf has recently obtained clearance from the Brazilian antitrust authority, the company said.
The deal recently cleared antitrust requirements from authorities in Portugal, Russia, Slovakia and Spain as well. As well as these latest clearances, Diebold has obtained antitrust clearance in the United States, China, Turkey and Austria.
Status: Agreed
-OPENTEXT TO ACQUIRE HP'S CUSTOMER COMMUNICATIONS MANAGEMENT ASSETS
Canadian enterprise information management specialist Open Text Corp. (NASDAQ: OTEX) (TSX: OTC) has entered into a definitive agreement to acquire the customer communications management assets from US-based computer maker HP Inc. (NYSE: HPQ), the company said.
The transaction purchase price is approximately USD 315m. These Assets include HP Exstream, HP Output Management, HP TeleForm and HP LiquidOffice for customer communications management, process automation and document delivery solutions.
Status: Agreed
-TWITTER BUYS UK-BASED MACHINE LEARNING, VIDEO INTELLIGENCE SPECIALIST MAGIC PONY
US-based social media platform Twitter (NYSE: TWTR) has acquired UK-based machine learning and visual processing technology Magic Pony Technology, the company said.
Terms of the deal were not disclosed. Industry reports put it at around USD 150. Twitter said that the deal expands the machine learning capabilities in its video technology and adding valuable talent to the company's Cortex team.
Status: Closed
-VISION RIDGE PARTNERS CLOSES ACQUISITION OF US ELECTRIC VEHICLE FAST-CHARGING NETWORK EVGO
US-based investment firm Vision Ridge Partners has closed the acquisition of electric vehicles fast-charging network EVgo, the firm said.
EVgo will now launch as an independent company, focused on expanding its charging network and leading more drivers to purchase and use electric vehicles nationwide. Since its development, EVgo has worked with automakers like Nissan, BMW, and Ford to develop a vehicle-centric customer experience.
Status: Closed
-ZIPDISH RESTAURANT DELIVERY SERVICE LAUNCHES FOLLOWING MERGER OF FOUR COMPANIES
US-based ZipDish has launched through the merger of restaurant delivery and catering services Delivery Wow in Chicago and South Florida, Café Courier in Columbus, Ohio, Room Service in Paradise in Honolulu and Delicious Deliveries in Phoenix and Tucson, the company said.
Headquartered in Chicago, Illinois and co-founded by Jeff Spitzer and Larry Neibauer, ZipDish is now the largest owner-operated restaurant and catering delivery service in the country delivering for 1,000's of restaurants including national chains Chili's, Rubio's and California Pizza Kitchen to name a few.
Status: Closed
-FOUNDERS OF HUMANA-ACQUIRED HEALTHCARE COMPANIES BUY SHARES IN SWEDISH FIRM
The founders of the Norway-based KOA Group (Kvæfjord Opplevelse og Avlastning AS) and Finland-based Arjessa Oy recently acquired by Swedish health care company Humana AB (STO: HUM), are reinvesting part of the consideration in shares in Humana AB, the companies said.
According to Humana, the companies' founders are together investing a total of SEK 32.5m in shares of Humana.
Status: Agreed
-CANADIAN INDUSTRIAL, ENVIRONMENTAL SERVICES FIRM ENVIROSYSTEMS ACQUIRES VICTORIA TREATMENT FACILITY FROM TERVITA
Canadian industrial and environmental services company Envirosystems Inc. has acquired the Victoria Treatment Facility located in Victoria, British Columbia from Tervita Corp., the company said.
According to Envirosystems, the facility handles multiple waste streams generated by shipyards, cruise ships, freighters, tankers and other marine vessels. The facility is also supported by a field services operation that collects and manages household hazardous waste materials and performs lab-packing work for a variety of commercial and government customers on Vancouver Island.
Status: Closed
-CANADIAN MINER GOLDCORP TO BUY 19.9% OF INDEPENDENCE GOLD SHARES
Canadian gold miner Goldcorp (TSX: G) (NYSE: GG) has entered into an agreement to acquire 10,884,880 common shares of Independence Gold Corp. at a price of CDN 0.1333 per share for an aggregate purchase price of CDN 1,450,954.50 (around USD 1.13m), the company said.
These 10,884,880 shares represent approximately 19.9% of the current issued and outstanding Shares of Independence Gold. The shares trade on the TSX Venture Exchange under the symbol "IGO."
Status: Agreed
-CANADIAN AIRFRAMER VIKING AIR BUYS BOMBARDIER'S WATERBOMBER AIRCRAFT BUSINESS
Canadian utility aircraft maker Viking Air Ltd. has acquired worldwide amphibious aircraft programme from Canadian manufacturer Bombardier (TSX: BBD.A) (TSX: BBD.B) (OTCQX: BDRBF), the company said.
Viking Air is known for producing the Twin Otter aircraft. The acquired amphibious aircraft programme includes the Bombardier CL-415 waterbomber and its variants, as well as the earlier CL-215 and CL-215T versions.
Status: Closed
-CI CAPITAL PARTNERS ACQUIRES EPIPHANY DERMATOLOGY
An affiliate of US-based private equity firm CI Capital Partners has acquired a majority interest in Texas, US-based dermatology clinic operator Epiphany Dermatology, the firm said.
The management team of Epiphany Dermatology has retained a significant equity ownership in the company. Epiphany Dermatology is an operator of dermatology clinics that currently operates seven general dermatology and skin cancer clinics in Central Texas.
Status: Closed
-US UTILITY FLORIDA POWER AND LIGHT TO BUY, PHASE OUT A COAL-FIRED POWER PLANT
US-based utility operator Florida Power and Light Co has filed a petition with the Florida Public Service Commission to request approval to purchase a coal-fired power plant located in Indiantown, Florida with which FPL has an existing long-term contract, the company said.
In its filing with the PSC, FPL proposes to purchase the ownership interest in the Indiantown Cogeneration facility for USD 451m (including existing debt), making FPL the owner of the facility. FPL is requesting PSC approval of the purchase by December 2016, so that the purchase can be completed as soon as possible to maximize customer savings.
Status: Agreed
-CAPONE STRATEGIES AND THE K FACTOR ENTERPRISES BECOME VILLA DI STRATEGIES
Los Angeles-based digital marketing and software programming company Capone Strategies Inc. and The K Factor Enterprises have merged effective in 1Q16 resulting in full service digital, brand consulting, marketing and publicity company Villa di Strategies 214, Inc., the companies said.
Scott Arthur Capone formed Capone Strategies, Inc. in 2010 and is a graduate of University of Southern California Marshall School of Business Lloyd Greif Center for Entrepreneurial Studies. He has a technology background and is currently the executive chairman of the USC Marshall Alumni Association after sitting on the board for five years as the CTO.
Status: Closed
-DEAN FOODS CLOSES USD 155M ACQUISITION O FRIENDLY'S ICE CREAM RETAIL, MANUFACTURING BUSINESS
US-based food and beverage company Dean Foods Co. (NYSE: DF) has agreed closed the acquisition of the manufacturing and retail ice cream business from an affiliate of US-based ice cream and dining brand Friendly's Ice Cream, LLC for USD 155m in cash, the company said.
Friendly's Restaurants, a family-dining restaurant chain with over 260 locations in the US, will continue to be owned and operated by an affiliate of Sun Capital Partners, Inc. and will license use of the Friendly's trademark under a license agreement entered into as part of the transaction.
Status: Closed
-THE STERLING GROUP CLOSES ACQUISITIONS OF NORTH AMERICAN INDUSTRIAL SERVICES, EVERGREEN INDUSTRIAL SERVICES
US-based private equity firm The Sterling Group has closed the simultaneous acquisitions of North American Industrial Services and Evergreen Industrial Services, the firm said.
The combination of the two businesses will form a new firm in industrial cleaning and related specialty cleaning services. Headquartered in Ballston Spa, New York, North American serves a diverse set of end markets with a geographic presence in the Northeast, Midwest, and Rocky Mountain regions.
Status: Closed
-TARGET HEALTHCARE REIT BUYS CARE HOME NEAR FRINTON-ON-SEA, ESSEX, UK
UK-based healthcare property investor Target Healthcare REIT Ltd. has exchanged contracts to acquire a purpose-built care home located in the village of Kirby Cross near Frinton-on-Sea, Essex, UK.
The home will be acquired for approximately GBP 9.2m (USD 13.49m) including acquisition costs, once works have been undertaken to complete the home to the group's specification. Completion of the transaction is expected in January 2017. This transaction is in accordance with the company's investment policy.
Status: Agreed
-SKANSKA FORMS US JV TO EXPAND FLORIDA HOSPITAL
Swedish construction group Skanska has been contracted by US-based hospital operator Lee Memorial Health System to expand and renovate the Gulf Coast Medical Center in Fort Myers, Florida, USA, the company said on Monday.
The total contract value is 200m. Skanska, leading a joint venture with Gates Construction, will include its full 89% share of the contract, worth 178m, about SEK 1.5bn, in the order bookings for Skanska USA Building in 2Q16.
Status: Agreed
-ACCENTURE ACQUIRES ISRAELI CYBERSECURITY SERVICES FIRM MAGLAN
US-based professional services company Accenture (NYSE: ACN) has acquired Israeli cybersecurity company Maglan, the company said.
Privately-held Maglan specialises in offensive cyber simulation, vulnerability countermeasures, cyber forensics and malware defenses, and IT security research and development with a focus on threat intelligence. Accenture said that the acquisition brings to it a team of highly skilled cybersecurity professionals, who honed their skills fighting cyber crime and confronting cyber espionage around the globe.
Status: Closed
-OPENGATE CAPITAL TO ACQUIRE ITALIAN PVC FILMS MANUFACTURER
US-based private equity firm OpenGate Capital has signed a definitive agreement with Emerald and PM and Partners for the acquisition of Italian flexible PVC films manufacturer Alfatherm S.p.A., the firm said on Monday.
The acquisition is expected to be complete in late June. Alfatherm was established more than 50 years ago and is the fourth largest European PVC film manufacturer, focused on the production and sale of rigid, semi-rigid and flexible PVC foils that are used for various applications.
Status: Agreed
-MEDNAX BUYS NEW YORK ANESTHESIOLOGY PRACTICE
US-based medical group Mednax, Inc. (NYSE: MD) has acquired White Plains, New York-based private physician group Westchester Anesthesiologists, PC, the company said. The practice was acquired by one of the company's affiliated professional contractors in New York.
Westchester Anesthesiologists provides anesthesia care across a wide spectrum of subspecialty areas in Westchester County.
Status: Closed
-TPG GROWTH TO ACQUIRE 40% STAKE IN PHILIPPINES-BASED ONE NETWORK BANK FROM BDO
US-based private investment firm TPG Capital's TPG Growth middle market and growth equity investment platform has inked an agreement with Philippines-based bank BDO Unibank, Inc., to acquire a 40% stake in Philippines-based One Network Bank, the firm said.
Based in Davao, ONB is the rural bank subsidiary of BDO, with more than 100 branches and offices. Following the transaction, BDO will retain approximately 60% ownership in ONB.
Status: Agreed
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