By Larry C. Paxton
September was a busy month for The PBR1000. Here are the summaries with links to the the official press releases:
September 30, 2013:
Cooper Tire & Rubber Company(PBR517) stockholders today approved its merger with a wholly owned subsidiary of India’s Apollo Tyres Ltd(NSE: ApolloTYRE), will create the seventh largest tire company in the world. It is a $2.5 billion deal, $35.00/share, and is expected to close by 2013 year end. Click here for the Cooper press release.
September 26, 2013:
eBay Inc(PBR183) to acquire startup mobile payments system and Chicago based Braintree for $800 million, will operate under PayPal. Click here for the eBay press release.
September 26, 2013:
Air Products and Chemicals, Inc.(PBR263) announced that Chairman/CEO John McGlade will retire in 2014 and a new CEO search will commence immediately. Also, the board will be adding three new independent directors. Click here for the Air Products press release.
September 26, 2013:
The acquisition of Smithfield Foods(PBR199) by Chinese company Shuanghui International Holdings Limited is completed. Smithfield shareholders will receive<$34.00/share, and will be de-listed from the NYSE. Click here for the Smithfield press release.
September 25, 2013:
Stryker Corporation(PBR287) is acquiring MAKO Surgical Corporation, the pioneer in robotic assisted orthopedics surgery, for $30/share, $1.65 billion. Click here for the Stryker press release.
September 24, 2013:
Applied Materials, Inc(PBR284) and Tokyo Electron Limited(TSE: 8035) announced an agreement to merge to form a global company involved in semiconductor and display manufacturing technology. The transaction will be an all stock combination with the market capitalization valued at $29 billion. The deal is expected to close mid to second half of 2014. Click here for the Applied Materials announcement.
September 20, 2013:
David Dillon, Chairman/CEO of The Kroger Company(PBR26) to retire in January, 2014, will be succeeded by COO Rodney McMullen.
September 19, 2013:
Agilent Technologies, Inc(PBR350) announces that it will split into two publicly owned companies. Agilent will keep its name for its life sciences, diagnostics, and applied markets business, and a new company, to be named later, for its electronic measurements business. The split should be accomplished by the end of 2014. Click here for the Agilent press release.
September 18, 2013:
EnerSys(PBR786) has entered into an agreement to purchase privately held Purcell Systems, Inc., of Spokane, WA, for $115 million. Purcell has annual revenues of over $100 million. Click here for the EnerSys press release.
September 17, 2013:
Huntsman Corporation(PBR224) is acquiring the Performance Additives and Titanium Oxides businesses of Rockwood Holdings, Inc(PBR592) for $1.1 billion. The deal is expected to close during the first half of 2014. Click here for the Huntsman announcement.
September 16, 2013:
Kennametal Inc(PBR699) has entered into an agreement to acquire the the $340 million/year Tungsten Materials Business unit of Allegheny Technologies Inc.(PBR457) for $605 million. The transaction is expected to close before the end of 2013. Click here for the Kennametal press release.
September 16, 2013:
Packaging Corporation of America(PBR677) will be acquiring Boise Inc(PBR733) for $12.55/share, total deal value of $1.995 billion, inclusive of $714 million of Boise debt. The transaction is expected to close during the 4th quarter of 2013. Click here for the PCA agreement.
September 12, 2013:
Shareholders of computer maker and IT services Dell Inc(PBR45) voted to approve the privatization plan proposed by Chairman/CEO and founder Michael Dell and Silver Lake Partners. The deal is valued at $24.9 billion and is expected to close during the 3rd quarter FY2014. Click here for the Dell announcement.
September 10, 2013:
American Express(PBR85) announced today that it is selling its publishing unit to the Time, Inc. division of Time Warner(PBR95). No terms were announced, the deal is expected to close by year end. Click here for the American Express press release.
September 10, 2013:
Cisco Systems, Inc.(PBR60) announced that it has entered into an agreement to purchase for $415 million the startup WHIPTAIL, a developer of high performance, scalable solid state memory systems. Click here for the Cisco notice.
September 9, 2013:
Molex Inc(PBR594) has agreed to be acquired by the Koch brothers’ private company Koch Industries for $38.50/share, $7.2 billion deal, expected to close by the end of 2013. Click here for the Molex press release.
September 6, 2013:
American Tower Corporation(PBR674) announced it is acquiring MIP Tower Holdings LLC, a private real estate investment trust, and parent of Global Tower Partners, a major owner/operator of communications towers. The deal is valued at $4.8 billion($3.3 billion in cash, $1.5 billion in debt assumption) and is expected to close by the end of 2013. Click here for the American Tower press release.
September 3, 2013:
Microsoft Corporation(PBR34) announced today that it has entered into an agreement to acquire the devices and services business, license patents, and license and use the mapping services of Finland based Nokia Corporation. The deal is valued at $7.2 billion, with the transaction expected to close during the 1st quarter of 2014. Click here for the Microsoft announcement.
September 2, 2013:
Verizon Communications Inc(PBR16) has entered into an agreement with Vodafone Group Plc(London, NASDAQ: VOD) to purchase Vodafone’s US group with the principal asset of 45 percent of Verizon Wireless for $130 billion, consisting primarily of cash and stock. The transaction is expected to close during the 1st quarter of 2014. Click here for the Verizon press release.
September 1, 2013:
Effective today Mario Longhi moves from President/COO to CEO of United States Steel Corporation(PBR136). John Surma moves from Chairman/CEO to Executive Chairman, will retire at the end of the year.
Larry C. Paxton is the President/CEO of Pax Business Resources. PBRMarketTools is the marketing research division. The PBR1000 is a compilation of key demographic, industry, financial, and personnel data, and news summaries, on 1000 of the largest US publicly traded companies. This list is updated four times a year and published in Microsoft Excel format as The PBR1000 Quarterly Progress Reports.
