By Larry C. Paxton
In the fourth month of the year we saw a lot of surprise mergers and acquisitions announcements across many industries. It was also interesting to note how some companies are also looking at splitting up their companies into two entities. Some international mega deals are in the works that have to go through approvals of multiple countries and regulatory bodies. In general, it’s just a time consuming process, some adjustments are made, and the deals go through. It will be interesting to see if that’s true for some of the deals that were announced in April.
Following are the breaking news items for April from The PBR1000, starting with the most current items.
Wednesday, April 30, 2014:
The Bureau of Economic Analysis adjusts 4th quarter 2013 US real GDP to 2.6%, increased 0.1% in 1st quarter 2014. Click here for the BEA press release.
Exelon(PBR107) buying electric & gas utilities firm Pepco Holdings(PBR492) for $27.25/share, $6.83 billion cash. Click here for the Exelon press release.
ADT(PBR623) acquiring Canadian based security monitoring company Reliance Protectron for $500 million. Click here for the ADT press release.
Energizer(PBR513) plans to split into two public companies in 2015. Click here for the Energizer press release.
Red Hat(PBR1021) to acquire private open source storage solutions vendor Inktank for $175 million. Click here for the Red Hat press release.
Tuesday, April 29, 2014:
Alliant Techsystems(PBR522) spinning off outdoor sporting unit to separate public company, merging aerospace & defense unit with Orbital Sciences(PBR1005). Click here for the ATK press release.
General Electric(PBR9) makes positively received $13.5 billion bid for French based Alstom’s thermal, renewables, & grid business. Click here for the GE press release.
Bristol-Myers Squibb(PBR163) has acquired private biotech firm Iperian for $175 million. Click here for the Bristol-Myers press release.
Monday, April 28, 2014:
Forest Labs(PBR647) acquiring drug developer Furiex Pharmaceutical(NR) for $95/share, $1.1 billion cash. Click here for the Forest Labs press release.
Comcast(PBR44) agrees to give 3.9 million video subscribers to Charter Communications(PBR313). Click here for the Charter Communications press release.
Susser Holdings(PBR397) being acquired by Energy Transfer Partners(NR, NYSE: ETP) for $1.8 billion. Click here for the Susser Holdings press release.
Pfizer(PBR53) confirms discussion & continuing interest in UK based biopharmaceutical AstraZeneca. Click here for the Pfizer press release.
KKR(PBR270) reduces stake in Norwegian software company Visma from 76% to 31.3%. Click here for the KKR press release.
Friday, April 25, 2014:
The Bureau of Economic Analysis(BEA) reports GDP annual rate for 4th quarter 2013 was 2.6%, 1.9% for all of 2013. Click here for the BEA press release.
Kellogg’s(PBR188) President/CEO John Bryant to become Chairman on July 1, succeeding James Jenness, who remains on the board. Click here for the Kellogg’s press release.
Wednesday, April 23, 2014:
Hess Corp(PBR113) has sold Thailand assets for $1 billion. Click here for the Hess press release.
Apple(6) expands capital return program to $130 billion, increases dividend, announces 7 for 1 stock split. Click here for the Apple press release.
JetBlue(PBR439) statement regarding pilots approving unionizing under Air Lines Pilots Assn. Click here for the JetBlue press release.
Amazon(PBR36) to offer exclusive subscriptions to HBO Prime Instant Video and HBO GO streaming service. Click here for the Amazon press release.
Tuesday, April 22, 2014:
Allergan(PBR390) confirms receipt of unsolicited $48.30/share buy bid by Valeant Pharmaceuticals(NR). Click here for the Allergan press release.
Allergan(PBR390) adopts 1 yr stockholders rights ‘poison pill’ to avert takeover bid by Valeant Pharmaceuticals(NR). Click here for the Allergan press release.
Eli Lilly(PBR120) buying Novartis Animal Health(NR) for $5.4 billion. Click here for the Eli Lilly press release.
Blackstone(PBR372) completes equity acquisition of Accuvant. Click here for the Blackstone press release.
Monday, April 21, 2014:
In 1st quarter report Kimberly-Clark(PBR129) updates status of a public health care $1.6 billion/yr spin-off in May. Click here for the Kimberly-Clark press release.
Hillshire Brands(PBR566) to acquire Van’s Natural Foods from Catterton Partners(NR) for $165 million. Click here for the Hillshire Brands press release.
Treehouse Foods(PBR809) to acquire food/beverage company Protenergy Natural Foods(NR) for $150 million. Click here for the Treehouse Foods press release.
Friday, April 18, 2014:
LinkedIn(PBR979) announces that it now has 300 million members worldwide. Click here for the LinkedIn press release.
Calpine(PBR389) to sell 6 southeast power plants for $1.57 billion. Click here for the Calpine press release.
Thursday, April 17, 2014:
Chemtura(PBR717) selling its AgroSolutions unit to Platform Specialty Products(NR) for $1 billion. Click here for the Chemtura press release.
Walmart(PBR2) to offer low cost Walmart-2-Walmart money transfer service. Click here for the Walmart press release.
Live Nation Entertainment(PBR382) assumes sole ownership of Live Nation Japan. Click here for the Live Nation Entertainment press release.
Wednesday, April 16, 2014:
Johnson Controls(PBR65) acquiring Air Distribution Technologies for $1.6 billion. Click here for the Johnson Controls press release.
MasterCard(PBR326) acquiring Australia based loyalty/rewards service Pinpoint. Click here for the MasterCard press release.
Vornado Realty Trust(PBR690) realizes $145 million net proceeds from $350 million refinancing of 1.3Msf Manhattan office building 909 Third Ave. Click here for the Vornado press release.
Tuesday, April 15, 2014:
Mosaic Co(PBR225) acquiring Archer-Daniels-Midland(PBR27) Brazil & Paraguay fertilizer units for $350 million. Click here for the Mosaic press release.
Motorola Solutions(PBR285) selling its enterprise business to Zebra Technologies(NR) for $3.45 billion. Click here for the Motorola Solutions press release.
Aaron’s(PBR794) rejects $2.3 billion buyout bid, acquires virtual payments Progressive Finance Holdings for $700 million cash. Click here for the Aaron’s press release.
MGM Resorts(PBR274) & Hakkasan Group(NR) form joint global hotel management company. Click here for the MGM press release.
Monday, April 14, 2014:
Safeway(PBR60) completes its Blawkhawk Network Holdings spin-off. Click here for the Safeway press release.
KKR(PBR257) selling its Ipreo unit to Blackstone Group(PBR539) & Goldman Sachs(PBR66) Merchant Banking. Click here for the KKR press release.
Boston Properties(PBR895) leasing 714,000 sq ft in 61 story San Francisco building to Salesforce.com(PBR784). Click here for the Boston Properties press release.
Google(PBR55) is buying solar powered drone maker Titan Aerospace, terms not disclosed.
Friday, April 11, 2014:
Ametek(PBR606) acquiring optical instrument maker Zygo for $280 million. Click here for the Ametek press release.
Vornado Realty Trust(PBR690) spinning off shopping center business into publicly held SpinCo. Click here for the Vornado press release.
Thursday, April 10, 2014:
Blackstone(PBR539) units providing $650 million for Ventika, to become largest onshore wind farm development in Mexico. Click here for the Blackstone press release.
H&R Block(PBR668) selling its banking unit to BofI Federal Bank. Click here for the H&R Block press release.
ADP(PBR234) announces plan to spin off automobile Dealer Services unit as separate public company. Click here for the ADP press release.
Wednesday, April 9, 2014:
Procter & Gamble(PBR29) selling 3 petfood brands to Mars, Inc(NR) for $2.9 billion. Click here for the P&G press release.
Hewlett-Packard(PBR15) announces $108 million settlement with the DOJ & SEC over Foreign Corrupt Practices Act charges. Click here for the HP press release.
Bank of America(PBR21) agrees to fines & refunds totaling $783 million regarding past credit card debt cancellation & identity theft products. Click here for the BofA press release.
Tuesday, April 8, 2014:
The Time Inc unit of Time Warner(PBR94) to raise $1.4 billion in debt as it prepares to be a spin-off(Bloomberg). Click here for the Bloomberg News article.
Eli Lilly(PBR119) responds to its $3 billion share of punitive damages in lawsuit with Takeda regarding drug Actos. Click here for the Eli Lilly press release.
Monday, April 7, 2014:
AGL Resources(PBR551) is selling its Tropical Shipping unit to Seattle based Saltchuk Resources(NR) for $220 million after taxes. Click here for the AGL Resources press release.
The Jones Group(PBR562) shareholders approve $15/share, $2.2 billion merger with private equity firm Sycamore Partners(prnewswire). Click here for the prnewswire press release.
CitiGroup(PBR25) agrees to pay $1.125 billion to mortgage trusts. Click here for the CitiGroup press release.
Cincinnati Bell selling its wireless spectrum licenses to Verizon(PBR16) for $210 million. Click here for the Cincinnati Bell press release.
Laclede Group(PBR1050) to buy Alabama Gas Company from Energen(PBR951) for $1.6 billion. Click here for the Laclede press release.
Sunday, April 6, 2014:
Arthur J Gallagher(PBR734) buying Australian based Wesfarmer Insurance Brokerage for $933 million. Click here for the AJG press release.
Friday, April 4, 2014:
Blackstone(PBR539) acquiring precision automotive parts manufacturer Gates Corp for $5.4 billion. Click here for the Blackstone press release.
Thursday, April 3, 2014:
Anadarko(PBR192) settles Tronox(PBR909) environmental liabilities suit against subsidiary Kerr-McGee for $5.15 billion. Click here for the Anadarko press release.
Liberty Media(PBR863) reducing financial stake & losing 2 board members at Barnes & Noble(PBR339). Click here for the Liberty Media press release.
Wednesday, April 2, 2014:
Cardinal Health(PBR19) acquiring extravascular closure devices firm AccessClosure for $320 million. Click here for the Cardinal Health press release.
Tuesday, April 1, 2014:
3M Company(PBR91) completes acquisition of healthcare data analytics & business intelligence firm Treo Solutions(NR). Click here for the 3M press release.
Allstate(PBR85) completes sale of Lincoln Benefit Life Co to Resolutions Life Holdings(NR) for $796 million. Click here for the Allstate press release.
KKR(PBR257) to acquire Brazil based data center solutions provider Aceco IT. Click here for the KKR press release.
Pinnacle Entertainment(PBR1037) sells its St. Louis property Lumiere Place Casino to Tropicana Entertainment for $260 million. Click here for the Pinnacle press release.
STERIS Corp(PBR993) acquiring privately held Integrated Medical Systems International for $165 million. Click here for the STERIS press release.
Actavis(PBR400) has acquired Thailand’s privately held generic pharmaceutical Silom Medical Co for $100 million. Click here for the Actavis press release.
Actavis(PBR400) completes sale of its Western European generics pharma operations to India based Aurobinda Pharma Ltd. Click here for the Actavis press release.
(The purpose of The PBR1000 is to provide a wide range of interested people with the premier key demographic, industry, financial, personnel, and comments/news briefs on over 1,000 of the largest publicly traded companies with principal offices in the US, companies that have a huge impact on the US and world economies. This information is updated monthly and published in MS Excel format as The PBR1000 Monthly Update Report. During a month several supplementary reports are published as well.
Larry C. Paxton is the President/CEO of Pax Business Resources, LLC. PBRMarketTools is the marketing research unit. For several years Larry has worked for and provided products and services to The PBR1000 companies.)
(Graphic courtesy of Kookai_nak/FreeDigitalPhotos.net)
