Activity during the 2nd quarter for The PBR1000 was pretty typical with deals in the media, healthcare, telecom, food processing, and high tech arenas. One of the more intriguing acquisitions is China’s Shuanghui trying to get the US’ Smithfield Foods. It will be interesting to see how the US government impacts this. Of course, Berkshire Hathaway was busy and perhaps we can take some comfort in knowing that when we buy Heinz Ketchup we are now helping support Warren Buffett.
Here’s a recap of the 2nd Quarter activity for The PBR1000, in reverse date order, and all PBR rankings are for the 2nd quarter only:
June 28, 2013: News Corporation(PBR87) completes split into two companies. The successor organizations are 21st Century Fox and News Corp.
June 24, 2013: Tenet Healthcare(PBR258) is acquiring Vanguard Health(PBR402) for $21/share, $1.73 billion, to create the 2nd largest hospital system in the US, behind HCA Holdings(PBR79). Expected to close by the end of 2013.
June 7, 2013: The H J Heinz Co(PBR221) is acquired by Berkshire Hathaway(PBR5) & 3G Capital, $72.50/share, transaction valued at $28 billion.
May 31, 2013: Freeport-McMoran(PBR147) completes the acquisition of Plains Exploration & Production Co(PBR735).
May 29, 2013: China meat producer Shuanghui International offers $34/share, $4.7 billion, to acquire Smithfield Foods(PBR202), the largest pork processor and hog producer in the world.. Expected to close 2nd half of 2013.
May 29, 2013: MidAmerican Energy Holdings, a subsidiary of Berkshire Hathaway(PBR5), signs a definitive agreement to acquire NV Energy(PBR658) for $23.75/share, $10 billion transaction. Expected to close during the 1st quarter of 2014.
May 28, 2013: Fidelity National Financials(PBR341) to acquire Lender Processing Services(PBR872) for $33.25/share, $2.9 billion. Expected to close 4th quarter, 2013.
May 24, 2013: EnergySolutions(PBR926) merges with private equity firm Energy Capital Partners, no longer listed on the NYSE.
May 13, 2013: McGraw-Hill Companies(PBR498) changes name to McGraw Hill Financial after the sale of its McGraw-Hill Education division to Apollo Global Management(PBR682).
May 6, 2013: BMC Software(PBR820) to be acquired by private investment group that includes Bain Capital and Golden Gate Capital and others, for $46.25/share, $6.9 billion. Expected to close by 2013 year end.
May 1, 2013: The merger between Deutsche Telekom/T-Mobile’s T-Mobile USA and MetroPCS Communications(PBR450) is completed, $4.05/share, $1.5 billion transaction value, new unit known as T-Mobile US Inc(NYSE: TMUS).
April 12, 2013: The Metals USA(PBR875) acquisition by Reliance Steel & Aluminum Co(PBR298) is completed.
The PBR1000 3rd Quarter Progress Report should be ready sometime the week of July 22, and there is already a lot of activity just in July already.
