acquisition | Sabin Piso

Novartis Agrees to Purchase Spinifex Pharmaceuticals for $200 Million Upfront

July 25, 2015 by Sabin Piso

Swiss drug maker Novartis AG greatly improved its presence in pain management on Monday by agreeing to purchase U.S.-Australian biotech firm Spinifex Pharmaceuticals This was according to separate statements made by the two companies on Monday. Spinifex representatives said Novartis was paying $200 million upfront. This will allow Spinifex shareholders to get further payments based on clinical development and regulatory milestones. This transaction is expected to close in the second half of this year, pending regulatory approval.

The acquisition will allow Novartis to use Spinifex’s experimental neuropathic pain drug EMA401, which showed positive mid-stage Phase II clinical trial results for post-herpetic neuralgia (PHN). This is a painful condition that develops after a patient had shingles. The results of the clinical trials for EMA401 were published in The Lancet medical journal last year and it mentioned that there were no central nervous system side effects or any serious adverse events after the drug was administered.

Chronic neuropathic pain, from nerve problems, is a relatively common condition. This affects up to 7-8 percent of the adult population. But even with the increased prevalence of this condition, current treatment options are limited and can be problematic.

EMA401 is an amazing pain medication that acts outside the blood-brain barrier and thus it can avoid common side effects such as dizziness or confusion which are very often experienced by patients taking painkillers affecting the central nervous system. Novartis plans to continue the development of EMA401. It also intends to start Phase IIb clinical trials in patients with PHN a condition called painful diabetic neuropathy which affects people with diabetes.

The acquisition highlights the Swiss group’s drive to expand its new medicines at a time of growing investor confidence across the drugs sector.

David Epstein, head of Novartis Pharmaceuticals mentioned in a statement, “Neuropathic pain is a chronic and debilitating condition with high unmet need. EMA401 could provide a novel, differentiated treatment approach.”

Established in 2005 and based in Stamford, Connecticut and Melbourne, Australia, Spinifex is backed by venture capital groups including Novo A/S, Canaan Partners, GBS Venture Partners, Brandon Capital Partners, Uniseed and the University of Queensland.

Novartis on the other hand is in a strong position when it comes to recent advances with new drugs, including the heart failure medicine LCZ696 and a psoriasis injection called Cosentyx.

About Novartis International AG

Novartis International AG is a Swiss multinational pharmaceutical company with headquarters located in Basel, Switzerland. Novartis ranks number one in drug sales (57.9 billion US$) among the world-wide industry in 2013. Novartis manufactures such drugs as clozapine (Clozaril), diclofenac (Voltaren), carbamazepine (Tegretol), valsartan (Diovan) and imatinib mesylate (Gleevec/Glivec). Additional agents include cyclosporin (Neoral/Sandimmun), letrozole (Femara), methylphenidate (Ritalin), terbinafine (Lamisil), and others.

In 1996, Ciba-Geigy merged with Sandoz, and the pharmaceutical and agrochemical divisions of both companies formed Novartis. Other Ciba-Geigy and Sandoz businesses were sold, or like Ciba Specialty Chemicals, spun off as independent companies. The Sandoz brand disappeared for 3 years, but was revived in 2003 when Novartis consolidated its generic drugs businesses into a single subsidiary and named it Sandoz. Novartis divested its agrochemical and genetically modified crops business in 2000 with the spinout of Syngenta in partnership with AstraZeneca, which also divested its agrochemical business. Novartis International AG stock market evolution: http://www.marketwatch.com/investing/stock/nvs

About David Epstein

David Epstein is the Division Head of Novartis Pharmaceuticals at Novartis AG since 2010. He holds a BS Degree in Pharmacy with high honors from Rutgers University College of Pharmacy in 1984 and an MBA in Finance and Marketing from the Columbia University Graduate School of Business in 1987.

About Spinifex Pharmaceuticals

Spinifex is a pioneer in the development of new treatments for chronic pain – a debilitating and often poorly treated condition that affects millions of patients all over the world. The demand for pain drugs continues to increase and this increases the growth of a market that is expected to be worth over US$35 billion by 2010. Spinifex’s lead programs are in neuropathic pain, due to nerve dysfunction. Spinifex is also targeting inflammatory pain such as that caused by osteoarthritis. A significant opportunity exists for new candidates that can deliver improved efficacy, side effect profiles, and time to onset and simplified dosing in chronic pain. EMA401, Spinifex’s lead clinical candidate, is being developed to address this unmet need and has successfully completed a Phase 2 clinical trial in post herpetic neuralgia (PHN), a neuropathic pain which follows herpes zoster (shingles) in some patients. In addition to PHN, EMA401 is being advanced as a potential treatment in other chronic pain indications and Spinifex has an active drug discovery program around its AT₂ receptor antagonist technology.

General Cable Corporation Sells Asia Pacific Operations to MM Logistics Co., Ltd.

July 25, 2015 by Sabin Piso

General Cable Corporation announced a definitive agreement to sell its Asia Pacific operations to MM Logistics Co., Ltd. for cash consideration of approximately $205 million. This transaction includes preliminary estimated net cash of $30 million available at the closing of the purchased businesses and is subject to customary working capital adjustments at the respective closing dates.

General Cable’s Asia Pacific operations consist of businesses in Thailand, China, New Zealand and Australia. The Company expects to close the sale of the operations in the third quarter, subject to customary closing conditions. Proceeds of the sale are expected to be used to reduce outstanding borrowings and pay related fees and expenses.

John E. Welsh, III, Chairman of the Board of General Cable, mentioned in a statement, “We are pleased with the continued execution and positive momentum we have achieved in our divestiture program that we originally announced last October.” He also said, “This agreement to sell our Asia Pacific operations represents another significant step to simplifying our geographic portfolio and reducing organizational complexity. We remain focused on the divestiture process for our businesses in Africa which are advancing according to plan. We are also optimizing our business, reducing costs and driving efficiencies in our core markets in North America, Latin America and Europe as we continue to execute our restructuring program.”

Brian J. Robinson, Executive Vice President and Chief Financial Officer said, “We previously completed the sale of our interests in Phelps Dodge International Philippines, Inc., Keystone Electric Wire and Cable (China), and Dominion Wire and Cables (Fiji) which together represented approximately $88 million of cash proceeds. Upon completion of the sale of our operations in Thailand, China, New Zealand and Australia for an estimated $205 million of cash consideration, the Company will have generated approximately $293 million of cash proceeds from its divestiture program which is consistent with our previously communicated expectations.”

HSBC is the financial adviser to General Cable on the sale of its Asia Pacific operations (which includes China, Thailand, Australia and New Zealand). Credit Agricole Corporate and Investment Bank acted as co-financial adviser on the sale of General Cable’s operations in China.

About General Cable

General Cable is a company based in Highland Heights, Kentucky. It has offices and manufacturing facilities in several countries, that manufactures and distributes copper, aluminum, and optical fiber cables used for energy, communications, and other industries. General Cable was incorporated in New Jersey in 1927, merging several older companies founded in the 19th century, including Phillips Wire and Safety Cable Company, Rome Wire Company, and Standard Underground Cable. In 2013, General Cable was ranked by Fortune Magazine as the 425th largest U.S. public company with $6,014.3 million in revenue

General Cable produces copper, aluminum, and fiber optic wire and cable products for the energy, construction, industrial, specialty and communications markets. The company’s energy cables include low-, medium- and high-voltage power distribution and power transmission products. General Cable’s application-specific industrial and specialty cables are used in electrical power generation — traditional and renewable — the oil, gas and petrochemical industries; mining; industrial automation; automotive, marine, and transit; and military, aerospace and OEM applications. General Cable sells its products under several brands including Anaconda; GenSPEED; BICC; Brand Rex; Carol; Gepco; NextGen; NSW; PDIC; Phelps Dodge International Corporation; and Silec. General Cable stock market revolution http://www.marketwatch.com/investing/stock/bgc

About John E. Welsh III

Mr. John E. Welsh III is Chairman of the Board for General Cable Corp. since 2001. He is also the President of Avalon Capital Partners, LLC and Managing Director of CIP Management LLC. He received a BS in Economics and Finance from Lehigh University and an MBA in Finance from the Wharton School of Business, University of Pennsylvania.

About MM Logistics

MM Logistics’ mission is to provide real added value for its principals, customers and employees, MM Logistics & MML Transport concentrates on premium quality of services in the specific sector of logistic support in the oilfield business. MM Logistics & MML Transport believes strongly in the concept of global cooperation and in educating and stimulating Thai nationals to take part in this process and to give them the opportunity to equal, grow and prosper.

MM Logistics is one of MMSVS Group company. It was established in 1999. And most of its employee used to provide Customs Clearance and Transport Contract to support PTTEP Bongkot Operations from 1990 to mid-1998. MM Logistics was ISO9001:2000 certified since 2002. It has long experience in providing Customs Clearance, Ship Clearance, Transportation, Lifting Equipment Service, Warehouse Rental and Cargo Forwarding Service.

About Brian J. Robinson

Mr. Brian J. Robinson has been the Chief Financial Officer of General Cable Corp. He is also the Chief Financial Officer, Executive Vice President and Treasurer at Alcan Products Corporation. Mr. Robinson holds a Bachelor of Science degree in Accounting from the University of Dayton and received his Certified Public Accountant certification in 1993.

GigaMedia Has Acquired 70% Interest in Strawberry Cosmetics Holding Limited for US$93.1 Million

July 21, 2015 by Sabin Piso

GigaMedia announced that it has entered into a share purchase agreement to acquire a 70% equity interest in Strawberry Cosmetics Holding Limited. Strawberry Cosmetics is a global cosmetics e-commerce company. The total consideration payable by the Company for the acquisition is approximately US$93.1 million.

Strawberry Cosmetics is an established online distribution and retail platform of beauty products. The company owns and operates the website “StrawberryNET.com” and the site’s related mobile application. Strawberry Cosmetics has a comprehensive sales and distribution network with customers in all the major countries all over the world.

StrawberryNET.com is translated into 38 languages, and has a customer base of over 3 million customers worldwide. It also has also established a global sourcing network of a comprehensive range of beauty products with more than 700 brands and 30,000 stock keeping units.

Consolidated sales revenues of Strawberry Cosmetics as well as its subsidiaries in the recent four years have been over US$200 million per year. The revenue contribution is mainly from its sales in the Oceania, United States and European markets. The Asian market on the other hand is still in the process of growth. Strawberry Cosmetics will benefit from the Company’s existing marketing resources for further expanding its Asian market. It will also benefit from the GigaMedia’s technology expertise for enhancing its future product strategy.

Strawberry Cosmetics is an established and proven e-commerce platform with existing customer base. The transaction would help diversify the Company’s overall business risks and improve the Company’s business portfolio in the Internet and technology sector. This will also allow the Company to tap into the fast growing beauty and cosmetics e-commerce market.

GigaMedia sees potential significant synergies with Strawberry Cosmetics from leveraging the its expertise in information technology, online and offline marketing, as well as its local connections in various Asian countries including China, Japan and South Korea. The completion of the Transaction is subject to the Company’s shareholders’ approval at an extraordinary general meeting of shareholders to be held on August 5, 2015 and other customary conditions. The Transaction is expected to be completed in the third quarter of 2015.

About GigaMedia Limited

GigaMedia Limited is a major provider of online entertainment software and services. Headquartered in Taipei, GigaMedia is a holding company with a diversified portfolio of businesses providing online games and cloud computing services.

GigaMedia develop software for online entertainment services, including the global online gaming market. GigaMedia’s FunTown game portal is a leading Asian casual games portal and the world’s largest online Mahjong game site in terms of revenue. FunTown generates revenues through access fees and also through the sales of various in-game items. It was founded in 1998 by the Acer computer company. They are based in Greater China, with offices in Shanghai, Hong Kong, and Taiwan. GigaMedia also operate the EverestPoker.com poker site.

GigaMedia’s online games business develops and operates a suite of games in Taiwan and Hong Kong, with focus on extending Giga’s online games platform to Web/mobile games, the fastest growing segment of online games, and supporting cross-platform play with strong self-development capabilities. On the other hand, the company’s cloud computing business is focused on providing SMEs in Greater China with critical communications services and IT solutions that increase flexibility, efficiency and competitiveness.

GigaMedia was incorporated in September 1999 as a company limited by shares organized under the laws of the Republic of Singapore, and completed an initial public offering of its shares on NASDAQ on February 24, 2000. GigaMedia stock market evolution: http://www.marketwatch.com/investing/stock/gigm

About Strawberry Ltd.

Strawberry Ltd. Is a skin care company that provides skincare, makeup and fragrance products online. It also provides hair care products, women’s and men’s fragrances, cosmetics, perfumes and colognes worldwide. Strawberry Ltd. was founded in 1996 and is based in Shau Kei Wan, Hong Kong. With over 10 years in business and backed by a dedicated team devoted to improving your shopping experience, we’re proud to call ourselves “The Fresh Cosmetic Company” because we’re innovative and modern with a determination to become the leader in the future of ‘E’Tailing. The company is the first truly global offer of branded products at a discounted price and they believe in providing a hassle-free environment to purchase favorite skincare, makeup and fragrances at prices that customers can easily afford. With over 30,000 items from over 750 brands, it has the largest discount range available in the world of Make Up, Skincare and Fragrance, all at hugely discounted prices

All of Strawberry Cosmetics products are fresh and genuine brand items and their special offers are very irresistible. Strawberry Cosmetics is a totally international company that purchases all genuine products duty free and delivers anywhere in the world. It has hundreds of thousands of satisfied customers in over 200 countries worldwide.

Sabra Health Care REIT Purchases Four Transitional Care Facilities in Maryland

July 20, 2015 by Sabin Piso

Sabra Health Care REIT has agreed to purchase a portfolio of four transitional care facilities located in Maryland. Four skilled nursing facilities that specialize in transitional care and medically complex post-surgical, ventilator and dialysis patients are included in the transactions, collectively called “NMS Portfolio,” located in Maryland for $234 million.

Upon completion of the acquisition, Sabra and the current operator will have a triple-net master lease agreement on three of the facilities and a triple-net lease agreement on the fourth facility which is encumbered by a HUD loan. Each of the master lease and the lease for the fourth facility will have an initial term of 15 years with two 10-year renewal options and annual rent escalators equal to the greater of 2.50% or CPI, but not to exceed 2.75%.

The leases are collectively expected to create an annual lease revenue determined in accordance with GAAP of $24.5 million and an initial yield on cash rent of 8.75%. Closing on the acquisition of three of the facilities, with an allocated purchase price of $175.2 million, is expected to occur on or before June 30, 2015. The fourth facility is expected to close upon the assumption of an existing $10.8 million HUD loan having an interest rate of 5.60% per annum.

The closing of the acquisition of the NMS Portfolio is subject to customary conditions, including the satisfactory completion by Sabra of its due diligence and, as to the fourth facility, the HUD loan assumption. In addition to the HUD loan assumption, Sabra expects to fund the remainder of the acquisition with available cash and proceeds from their revolving credit facility.

Rick Matros, CEO and Chairman, mentioned in a statement, “The Canadian acquisition we recently announced reduced our skilled nursing exposure to approximately 50%, opening up the opportunity for us to look more seriously at skilled nursing acquisitions. The NMS Portfolio will only increase that exposure to 55.9%, and our intent is to maintain our skilled nursing exposure at or around 50%. We had first looked at this portfolio a few years ago and were very impressed with the team. Their focus was and is on short stay post-surgical patients and longer term complex medical patients requiring ventilator care and other complex conditions. They’ve continued to build on that capability since we were first introduced to them. The State of Maryland, like numerous other states, has specialized Medicaid rates for complex medical patients that approximate Medicare rates so the operating team can access Medicare, Managed Care and non-traditional Medicaid reimbursement sources for these services. Other operators in our portfolio do the same in select states.”

Mr. Matros also added, “Currently, there is a small percentage of operators in the skilled nursing sector that have strategically moved their model in this direction which we believe to be the future of the business. Over time that number will increase. We are fortunate to have quite a few operators in our portfolio whose business model reflects ‘the new world order’ including the Vision portfolio we acquired in the 4th quarter of 2014. Genesis is moving in that direction with their PowerBack model. Our focus is to populate our skilled nursing portfolio with more of this higher end model.”

3M Acquires Capital Safety from KKR for $2.5 Billion

July 20, 2015 by Sabin Piso

3M and Capital Safety from KKR have entered into a definitive agreement. 3M acquires Capital Safety and this acquisition has a total enterprise value of $2.5 billion, including the assumption of approximately $0.7 billion of debt.

Capital Safety is a leading provider of fall protection equipment in the world. This is one of the fastest-growing safety categories in global personal protective equipment industry. The personal protective equipment industry is very important to 3M simply because the demand for personal protective equipment is rapidly growing.

Some of the personal safety products and solutions that are developed by Capital Safety include harnesses, lanyards, self-retracting lifelines and engineered systems sold under well-known global brands DBI-SALA and PROTECTA.

On the other hand, 3M’s Personal Safety business which is a part of 3M’s Safety and Graphics Business Group is provider of respiratory and hearing protection solutions that help improve the safety and security of workers. Aside from these there are also reflective materials for high-visibility apparel, protective clothing and eyewear.

Inge G. Thulin, 3M chairman, president and chief executive officer, mentioned in a statement “Personal safety is a large and strategically important growth business in the 3M portfolio.” He said. “The acquisition of Capital Safety bolsters our personal safety platform and will build on our fundamental strengths in technology, manufacturing, global capabilities and brand.”

Pete Stavros, member of KKR and head of the Industrials team, mentioned in a statement “We have had an absolutely fantastic partnership with the management and employees of Capital Safety. Over the past three years, the company has driven impressive top-line growth, broadened its geographic presence and further optimized its operations. Today, Capital Safety is a clear global leader in fall protection.” He said, “3M is a perfect home for a company and team that is so deeply committed to safety.”

Stephen Oswald, chief executive officer, Capital Safety, said “This is a great strategic fit and provides Capital Safety and its employees with a strong platform for future growth. Each company also highly values innovation and this will enable us to drive further product development and provide a broader array of solutions to both Capital Safety and 3M customers.”

3M estimates the acquisition to be $0.04 dilutive to earnings in the first 12 months following completion of the transaction. This excludes purchase accounting adjustments and anticipated one-time expenses related to the transaction and integration, 3M estimates the acquisition to be $0.12 accretive to earnings over the same period. The effective enterprise value multiple is approximately 14 times annual adjusted EBITDA for the first 12 months following the completion of the transaction.

The transaction is expected to close in the third quarter, subject to customary closing conditions and regulatory approvals. 3M will finance the transaction with existing cash, a portion of which will come from outside the U.S.

About 3M

The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation with headquarters in St. Paul, Minnesota. 3M employs 88,000 people worldwide and produces more than 55,000 products, including: adhesives, abrasives, laminates, passive fire protection, dental and orthodontic products, electronic materials, medical products, car-care products, electronic circuits, and optical films. 3M has operations in more than 65 countries including 29 international companies with manufacturing operations and 35 companies with laboratories. 3M stock market evolution: http://www.marketwatch.com/investing/stock/mmm

About Capital Safety

Capital Safety is a manufacturer of fall protection, confined space, and rescue equipment for oil and gas, construction, utilities, wind energy, transportation, telecommunication, mining, and general industries. Capital Safety also provides in-house and on-site fall protection and rescue training services. It partners with insurance providers to hold 4-hour to 5-day safety training classes. Capital Safety is based in Bloomington, Minnesota. Capital Safety stock market evolution http://finance.yahoo.com/q?s=KKR

About Inge Thulin

Mr. Inge Thulin is the Executive Vice President and Chief Operating Officer of 3M Company. He holds an MBA in Economics and Marketing from Gothenburg University / IHM Business School, Gothenburg, Sweden School of Economics and Commercial Law in 1978. He received a DHIM degree in Marketing and Strategy from Gothenburg University’s IHM Business School in Gothenburg, Sweden.

About Stephen G. Oswald

Mr. Stephen G. Oswald has been Chief Executive Officer of Capital Safety, Inc. Since March 201, Mr. Oswald oversees Capital Safety’s global operations, which includes 20 manufacturing, distribution and training facilities worldwide. Mr. Oswald holds an MBA from the University of Chicago. He also holds a Master’s degree in Industrial Engineering from the University of Cincinnati and a Bachelor’s Degree in Industrial Engineering from Polytechnic University in Brooklyn, New York. He is a graduate of GE’s Manufacturing Management Program.

About Pete Stavros

Pete Stavros is a Partner, Head of the Industrials investment team, and member of the Investment Committee within KKR’s Private Equity platform in the Americas. He holds an A.B. and B.S., magna cum laude, from Duke University and an M.B.A. with high distinction, Baker Scholar, from Harvard Business School. Mr. Stavros is a member of the Board of Visitors at the Fuqua School of Business at Duke University.

Home Properties To Be Acquired by Affiliate of Lone Star Funds for $7.6 Billion

July 14, 2015 by Sabin Piso

Home Properties announced that it has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds. This transaction was valued at approximately $7.6 billion and this includes Home Properties existing debt. Upon completion of the transaction, Home Properties will become a privately held company.

Lone Star Funds will purchase all of the outstanding common stock of Home Properties for $75.23 per share in an all-cash transaction. The offer price represents a premium of approximately 9% over Home Properties’ unaffected closing stock price on April 24, 2015, the last trading day prior to media reports on a potential transaction, and a premium of approximately 11% over the average closing price of Home Properties’ common stock for the 60 days ended April 24, 2015.

Edward J. Pettinella, President and Chief Executive Officer of Home Properties, mentioned in an interview: “The Home Properties team has built a great company, as reflected by our strong platform, unique assets, and differentiated business strategy.” He added, “We believe this transaction with Lone Star Funds provides our stockholders with compelling value for their investment, consistent with our long-term strategy.”

Hugh J. Ward III, Co-Head of Real Estate Investments at Lone Star Funds, added, “We are pleased to enter into an agreement to acquire Home Properties and look forward to working with their talented team to complete this transaction and integrate the Company’s portfolio into Lone Star Funds’ existing multifamily portfolio. This is Lone Star Funds’ second large, recent apartment purchase following the 2014 acquisition of a 64 property, 20,439 unit portfolio, and is consistent with our strategy of buying primarily Class B apartments, including workforce housing, located in in-fill markets with strong underlying fundamentals.”

Before the Home Properties Merger will be enacted and pursuant to the Merger Agreement, Lone Star Funds will acquire all of the Home Properties OP Units that are not owned by Home Properties and have not been exchanged as described above pursuant to a merger of Home Properties OP with a wholly owned subsidiary of Lone Star Funds. In connection with the OP Merger, holders of Home Properties OP Units that have not exchanged OP Units as described above will receive $75.23 per unit in cash upon the closing of the OP Merger.

Tom Toomey, President and Chief Executive Officer of UDR, also mentioned, “We appreciate Home Properties and Lone Star Funds reaching out to create an opportunity for UDR to offer the Home Properties OP Unitholders an alternative that will allow them to continue to participate in the strong multifamily space and continued growth in UDR.”

Approvals, Anticipated Closing The Board of Directors of Home Properties have unanimously approved the merger agreement and have recommended approval of the Home Properties Merger by the Home Properties stockholders and of the Home Properties OP Merger by the Home Properties OP unitholders.

The transaction is expected to close during the fourth quarter of 2015, subject to the approval of the Home Properties Merger by the Home Properties stockholders and the approval of the Home Properties OP Merger by the Home Properties OP unitholders.

About Home Properties

Home Properties, Inc. is a publicly traded apartment real estate investment trust that owns, operates, develops, acquires and rehabilitates apartment communities primarily in selected Northeast and Mid-Atlantic markets. It operates over 38,000 apartment units. The company is headquartered in Rochester, New York. Home Properties, Inc. stock market evolution http://www.marketwatch.com/investing/stock/hme

About Edward Pettinella

Mr. Edward J. Pettinella is President, Chief Executive Officer, Director of Home Properties Inc., since January 1, 2004. He is also a Director. He joined the Company in 2001 as an Executive Vice President and Director. He is also a Board member of Rochester Business Alliance, National Multi Housing Council and Syracuse University, as well as a member of ULI and NAREIT. Mr. Pettinella is a graduate of the State University of New York at Geneseo and holds a Masters in Business Administration degree in Finance from Syracuse University.

About Lone Star Funds

Lone Star Funds is a private equity firm that invests in distressed assets both in the United States and internationally. The founder established its first fund in 1995 (under a different name) and Lone Star has to date organized fifteen private equity funds with total capital commitments since inception of over $59 billion (as of June 2015). Lone Star’s investors include corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds and high-net-worth individuals. Lone Star Funds has affiliate offices in North America, Europe and Japan.

About Hugh J. Ward III

Hugh J. Ward III is the Senior Managing Director and Co-Head of Real Estate Investments at Lone Star Funds

Sequential Brands Acquires All Outstanding Shares of Martha Stewart Living Omnimedia, Inc.

July 14, 2015 by Sabin Piso

Sequential Brands has signed a definitive merger agreement to acquire 100% of the outstanding shares of Martha Stewart Living Omnimedia, Inc. The Merger improves Sequential’s platform, which is expected to generate nearly $3.75 billion in annual global retail sales from a combined categories of consumer brands.

The terms of the merger agreement have been approved by the boards of directors of both companies. It states that Martha Stewart will continue to be an integral part of the brand that she founded and will serve as Chief Creative Officer. Ms. Stewart will become a significant stockholder of the new public holding company of Sequential and MSLO and will be nominated to serve on its board of directors as of the closing.

Founder Martha Stewart mentioned in a statement “This is a transformational merger for Martha Stewart Living Omnimedia, the company I founded in 1997. This merger is positioned to further the growth and expansion of the unique Martha home and lifestyle brand. In 1991, I started a magazine, Martha Stewart Living, which was the first of its kind. Out of our groundbreaking editorial content grew an influential brand which quickly evolved into other media, merchandising and digital platforms and products which have helped consumers, worldwide, live better, more fulfilling lives.” She also said, “With our media business operations now successfully transitioned to Meredith, we now have the opportunity to tap into Sequential’s expertise and resources to expand our merchandising business both domestically and abroad. The Sequential team is smart, hardworking, and understands the power and limitless opportunity of the Martha Stewart brand and its formidable design, editorial and marketing teams. I’m looking forward to working with them.”

Yehuda Shmidman, CEO of Sequential, commented, “Martha Stewart’s impact around the world is staggering, and the empire she founded is unmatched in its industry. In fact, research shows that the Martha Stewart brand has 96% awareness among women in the U.S. and 7 out of 10 women say that Martha has and does influence the way they think about, organize, and manage their homes. Looking ahead, we believe that we can leverage our global activation platform at Sequential in partnership with Martha and her team to develop the next chapter of growth for the Martha Stewart brand. We are honored to have this opportunity and thrilled to be working together with Martha Stewart.”

Martha Stewart Living Omnimedia is a leading provider of the earliest versions of “how-to” information. The company has also inspired consumers with unique lifestyle content and high-quality products. MSLO has approximately 100 million consumers across all media platforms each month and has a growing retail presence in thousands of locations with leading retailers such as Macy’s, The Home Depot, PetSmart, Michaels and Staples. It has earned multiple national magazine awards, 19 Emmys, 4 James Beard Awards, several Webby Awards and more.

William Sweedler, Chairman of Sequential, stated, “This transformational acquisition marks an incredible milestone for Sequential as it not only delivers on the vision we put in place when we founded Sequential, but also sets the stage for the Company’s next phase of growth. Once we close, our run rate will surpass our published three year financial plan, and we will be set up to publish a new three year financial plan that is more than double our current goals for both revenue and adjusted EBITDA.” Mr. Sweedler added, “I look forward to Martha Stewart joining our Board of Directors and I’m excited for our future.”

Dan Dienst, Chief Executive Officer of MSLO also mentioned, “I am truly proud of the hard work that has been done by the team at MSLO, particularly over the past 18 months, to take our iconic, peerless American brand that Martha Stewart has built into its next phase of growth.” He also said, “Against the backdrop of Martha’s vision, an invigorated, strong and competitive MSLO and the new partnership with Sequential and its leadership team, I am excited to help execute on this next chapter of shareholder wealth creation.”

The acquisition, which is expected to close in the second half of 2015 is subject to customary closing conditions and approval by the holders of a majority of the MSLO outstanding common stock not owned directly or indirectly by Martha Stewart or her affiliates. The Company will provide further details on plans for the newly acquired family of brands and financial impact associated with today’s announcement when the transaction is completed.

About Sequential Brands Group, Inc.

Sequential Brands Group, Inc. owns, promotes, markets, and licenses a portfolio of consumer brands to retailers, wholesalers, and distributors in the United States and internationally. It licenses brands in the apparel, footwear, eyewear, and fashion accessories, including Avia, AND1, Ellen Tracy, Revo, Caribbean Joe, DVS, and The Franklin Mint. Sequential Brands Group, Inc. was incorporated in 1982 and is headquartered in New York, New York. Sequential Brands Group stock market evolution: https://finance.yahoo.com/q/pr?s=SQBG+Profile

About Yehuda R. Shmidman

Yehuda R. Shmidman is the President at SBG Universe Brands, LLC. He has been the Chief Executive Officer of Sequential Brands Group, Inc. since November 2012. He has been named in the “40 Under 40” list by Crain’s New York. He has a Bachelor’s Degree in Political Science from Yeshiva University.

About William Sweedler

Mr. William Sweedler serves as the Chairman of the Board of Sequential Brands Group, Inc. Mr. Sweedler was appointed to the Board of Directors in connection with financing transaction

About Martha Stewart Living Omnimedia Inc.

Martha Stewart Living Omnimedia Inc. is a diversified media and merchandising company founded by Martha Stewart. It is organized into four business segments: Publishing, Internet, Broadcasting media platforms, and Merchandising product lines. MSLO’s business holdings include a variety of print publications, television and radio programming, and e-commerce websites. MSLO stock market evolution http://www.marketwatch.com/investing/stock/mso

About Martha Stewart

Martha Helen Stewart is an American businesswoman, writer, and television personality. As founder of Martha Stewart Living Omnimedia, she has gained success through a variety of business ventures, encompassing publishing, broadcasting, merchandising, and electronic commerce. She has written numerous bestselling books and hosted two long-running syndicated television shows, Martha, which ran from 2005 to 2012, and Martha Stewart Living, which ran from 1993 to 2005.

About Daniel W. Dienst

Daniel Dienst has been the Chief Executive Officer of Martha Stewart Living Omnimedia Inc. since October 2013. He is a graduate of Washington University and received a J.D. from The Brooklyn Law School.

Medtronic Acquires CardioInsight Technologies, Inc. to Become Part of Medtronic Atrial Fibrillation Solutions

July 13, 2015 by Sabin Piso

Medtronic announced that it has acquired CardioInsight Technologies, Inc., a privately-held, medical device company based in Cleveland that has developed a unique strategy to improve the mapping of electrical disorders of the heart. CardioInsight will now become a part of the Medtronic Atrial Fibrillation Solutions business in the Cardiac Rhythm and Heart Failure division.

Medtronic has finished its acquisition of CardioInsight on a debt-free basis in a transaction worth approximately $93 million, net of CardioInsight’s cash of $7 million, plus performance-based contingent consideration completed post-closing. The transaction includes an initial cash payment of $75 million and retirement of a Medtronic loan outstanding to CardioInsight in the amount of $25 million. Other details about the acquisition were not disclosed

Reggie Groves, vice president and general manager of the AF Solutions business, mentioned in a statement: “This investment aligns with our goal to deliver breakthrough technologies for patients who have atrial fibrillation and other arrhythmias.” He said “CardioInsight will broaden and enhance the existing AF Solutions program at Medtronic, and will provide meaningful clinical and economic solutions for patients, hospitals, physicians and payers.”

The CardioInsight ECVUE(TM) system is the company’s latest technology that non-invasively generates images of the electrical activity of the heart through the use of body surface electrical data with 3-dimensional (3-D) anatomical data. The 3-D maps gathered are reconstructed along with other useful measures of cardiac electrical activity. The ECVUE system has been used with more than 1,400 patients in Europe and the U.S. It has been widely acclaimed and in fact it was also featured in more than 120 peer reviewed journals and presentations.

Medtronic will include revenue from the CardioInsight product line as part of the Cardiac Rhythm and Heart Failure division within the Cardiac and Vascular Group. This acquisition is deemed to meet Medtronic’s long-term financial metrics, and the annualized earnings impact of this acquisition is not expected to be material. Along with leading clinicians, researchers and scientists worldwide, Medtronic offers the broadest range of innovative medical technology for the treatment of cardiovascular disease and cardiac arrhythmias.

About Medtronic

Medtronic plc is an Irish company with its principal executive office located in Ireland and its operational headquarters is in suburban Minneapolis, Minnesota. It is the world’s third largest medical device company. In 2015, at the time of its acquisition of Covidien, Medtronic’s market cap was about $100 billion while the market cap for CRH, Ireland’s largest indigenous business, was $18.4 billion. Medtronic operates in more than 140 countries. The company employs more than 85,000 people and has more than 53,000 patents

Medtronic was founded in 1949 in northeast Minneapolis by Earl Bakken and his brother-in-law Palmer Hermundslie as a medical equipment repair shop. They originally planned on selling basketball pumps due to a shortage in the Midwest in the 20th century. In June 2014, Medtronic announced its acquisition of Covidien, PLC of Ireland for $42.9 billion. Following the acquisition, Medtronic ceased to be a Minnesota-based company, officially renamed Medtronic PLC and headquartered in low-tax Ireland. Medtronic stock market evolution http://www.marketwatch.com/investing/stock/mdt.

About CardioInsight

CardioInsight is a Cleveland, Ohio based medical device company that has developed a non-invasive advanced cardiac mapping technology to map electrical disorders of the heart. The technology uses body surface electrical data with heart and torso anatomy to provide single beat epicardial 3D electroanatomic maps of the heart. The technology was initially developed by Yoram Rudy, Ph.D. while he was Director of Cardiac Bioelectricity Research at Case Western Reserve University in Cleveland, Ohio. CardioInsight ECVUE™ system is the first, non-invasive mapping system to provide simultaneous, 3D, multi-chamber mapping and localization of cardiac arrhythmia mechanisms. It uses a proprietary, single-use, disposable multi-sensor “vest” to capture electrical signals from the body surface, and sophisticated software to compute and visualize epicardial 3D electroanatomic maps and virtual electrograms from the heart. This system is the first advanced mapping technology to non-invasively generate 3D electrical maps of the heart in a single beat, thus providing the unique opportunity to enable advanced cardiac mapping.

About Reggie Groves

Reggie Groves is the Vice President and General Manager at Medtronic. Through Mr. Groves, Medtronic has expanded global entry plans for the Launch/re-launch products in over 97 countries globally, including engaging key industry thought leaders, working with the government to avoid a local clinical trial, and designing a go-to-market plan which resulted in exceeding plan performance. Prior to being the VP and GM, Mr. Groves was the Vice President for Quality and Regulatory and Vice President and General Manager for Patient Management. Before he worked for Medtronics, he was Global Managing Partner for Scient, Inc. Mr. Groves earned his Master of Business Administration at Harvard Business School and Bachelor’s degree, Pharmacy at the University of Florida.

Can–Fite BioPharma Announces OphthaliX’s Acquisition of Improved Vision Systems Ltd.

July 9, 2015 by Sabin Piso

Can-Fite BioPharma has announced that its subsidiary, OphthaliX has signed a definitive agreement to purchase Improved Vision Systems Ltd. an Israel-based company. According to the agreement OphthaliX will issue to the sellers and option holders of I.V.S. at the initial closing such number of shares of OphthaliX common stock and OphthaliX options which are equal to an aggregate of approximately 14% of the issued and outstanding capital stock of OphthaliX on a fully diluted basis. This is immediately following the initial closing.

According to the transaction, OphthaliX has agreed to issue to the sellers and option holders of I.V.S. such number of shares of OphthaliX common stock and OphthaliX options which is also equal to an aggregate of approximately 11% of the issued and outstanding capital stock of OphthaliX on a fully diluted basis upon the attainment of certain milestones.

The closing of the acquisition is subject to certain closing conditions including the raising of capital by OphthaliX and an up-listing of OphthaliX to a national securities exchange in the United States. No shares of OphthaliX’s parent company, Can-Fite BioPharma, are included in this acquisition transaction.

Improved Vision Systems creates breakthrough medical device technologies that aims to improve sight, diagnose and offer therapy for a variety of ocular diseases such as glaucoma, age related macular degeneration (AMD), diabetic retinopathy and oculo-motor pathologies. The company is also developing an indoor eye tracking solution, attachable to any screen including TVs, computers, tablets, etc., that manipulates the image shown to the user in such a way as to best compensate for such user’s specific clinical impairment. It is also currently developing a goggles-based mobile device which generates high definition displays that are manipulated and moved according to the device’s ability to track each eye individually. All these new technologies aim to restore mobility and independence to visually impaired people.

Upon initial closing, I.V.S. executives Ran Yam and Dan Oz will join OphthaliX’s Board of Directors. Ran Yam will be appointed Chief Executive Officer of OphthaliX and Dan Oz Chief Technology Officer.

Dr. Pnina Fishman, Can-Fite and OphthaliX CEO, mentioned in a statement “We are thrilled to take this important step towards acquiring I.V.S and are excited about the potential of this acquisition as we pursue our strategy of re-positioning OphthaliX as a company that addresses substantial ophthalmologic markets through both medical devices and pharmaceutical products. We welcome the I.V.S. team to OphthaliX.”

Ran Yam, I.V.S. CEO, also mentioned in a statement “There are significant synergies between OphthaliX and I.V.S. and we believe that our combined pharmaceutical and medical device development program presents a compelling opportunity. The visions of the OphthaliX team and I.V.S. team are shared and we look forward to working together.”

About Can – Fite

Can-Fite has a number of drugs in various stages of research and development. These drugs are synthetic, highly specific agonists and an allosteric modulator, all targets the A3 adenosine receptor. All drugs are orally bioavailable with an excellent safety profile. Can – Fite stock market evolution http://www.marketwatch.com/investing/stock/canf

About OphthaliX Inc.

OphthaliX Inc. is an advanced clinical-stage biopharmaceutical company that is focused on developing therapeutic treatments for the treatment of ophthalmic disorders. OphthaliX is committed to continuing its development program for its drug candidate CF101, a neuro-protective and anti-inflammatory drug, for the treatment of glaucoma. Patients are currently enrolled for the second segment of the Phase II study and are treated orally with CF101. OphthaliX Inc. stock market evolution http://www.marketwatch.com/investing/stock/opli

About Improved Vision Systems

Improved Vision Systems Ltd. develops medical device technologies to improve sight and diagnose and provide therapies for ocular diseases such as glaucoma, age related macular degeneration (AMD), diabetic retinopathy and oculo-motor pathologies. The company has headquarters in Even Yehuda, Israel.

About Ran Yam

Ran Yam is the CEO of Improved Vision Systems (IVS). He was VP of R&D at Visionix before working for IVS. He was also head of mechanical department and project manager at Negevtech, Product R&D manager at Trellis Photonics and Mechanics Team Leader at ELOP. Mr. Yam received his education from the Technion – Israel Institute of Technology.

About Pnina Fishman, Ph. D.

Professor Fishman is the founder of Can Fite. She was previously a professor of Life Sciences and head of the Laboratory of Clinical and Tumor Immunology at the Felsenstein Medical Research Institute at the Rabin Medical Center. She is an accomplished scientist and an author of more than a hundred publications. She was the CEO of seven years at Mor Research Application. She was also involved in the establishment and served as a member of the Board of Directors of various life sciences technology projects.

PetroVietnam Completes Acquisition of Chevron’s Assets in Vietnam

July 8, 2015 by Sabin Piso

Vietnam Oil and Gas Group (Petrovietnam) has acquired full interest in Chevron Corp.’s companies in Vietnam. This acquisition provides PetroVietnam the firm operatorship of two production sharing contracts (PSCs) offshore Vietnam and a huge advantage in a gas development project. PetroVietnam has also made itself one of the strongest oil and natural gas group in the region because of this important acquisition deal. This was announced by the country’s national oil company Wednesday.

PetroVietnam will take over Chevron Vietnam (Block B) Ltd., the operator of Blocks B and 48/95, this is a 42.38 percent interest in the PSC. The Vietnamese company will also be the new owner of Chevron Vietnam (Block 52) Ltd. that has a 43.4 percent operating stake in Block 52/97. This is located in the same area as Blocks B and 48/95. Chevron has found gas in the two PSCs. These are located in the Malay Basin off the coast of south western Vietnam which was more than a decade ago.

PetroVietnam will hold a 28.7 percent non-operating stake in the Block B Gas Development Project. This will ensure delivery of natural gas from Blocks B & 48/95 and Block 52/97 to existing and proposed power plants located at southern Vietnam. This is after acquiring Chevron Southwest Vietnam Pipeline Co. Ltd.

Vietnam’s NOC mentioned in a press release “Petrovietnam thanks Chevron for its efforts in discovering and proving this large gas resource.” Joint venture partners and the Vietnamese government have approved PetroVietnam’s acquisition. This acquisition took effect June 17.

Nguyen Xuan Son, Chairman of the Members’ Council of Petrovietnam, mentioned in an interview “The Block B gas project is Petrovietnam’s main oil and gas project. The project is of major significance, contributing to ensuring the energy security of the country and promoting the socio-economic development of the region.”

Nguyen Xuan Son also mentioned “Petrovietnam’s completion of the acquisition of Chevron’s assets in Vietnam will facilitate the acceleration of field development and the implementation of the component projects in order to make gas more quickly available to serve the development needs of the national economy.”

About PetroVietnam

PetroVietnam is the trading name of Vietnam Oil and Gas Group (PVN). In Vietnamese: Tập đoàn Dầu khí Quốc gia Việt Nam. PetroVietnam has become a vital resource in the industry since it was established in 1977. The company’s activities, through its various companies and wholly owned subsidiaries, covers all the operations from oil and gas exploration and production to storage, processing, transportation, distribution and services. PetroVietnam is wholly owned by the Vietnamese central government, it is responsible for all oil and gas resources in the country. It has also become its country’s largest oil producer and second-largest power producer.

About Nguyen Xuan Son

Mr. Nguyen Xuan Son is the Chairman, Chief Executive Officer and President of Vietnam Oil and Gas Corporation. He has been a prominent officer and chairman in numerous ventures and companies in the industry and serves as a Member of the Advisory Board at Providential Capital Management Limited. Mr. Son has a Bachelor of Oil Economics degree from the Soviet Union. He is an Economics Engineer and holds a BA in Economics from the Economic Department of Vietnam National University in Hanoi, Vietnam in 1984.

About Chevron Corporation

Chevron Corporation is an American multinational energy corporation. It is one of the successor companies of Standard Oil. Chevron is headquartered in San Ramon, California, and is active in more than 180 countries. Chevron is involved in all the aspects of the oil, gas, and geothermal energy industries, such as exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation.

As of 2014, Chevron is one of the world’s largest oil companies. Chevron ranked third in the Fortune 500 list of the top US closely held and public corporations and sixteenth on the Fortune Global 500 list of the top 500 corporations worldwide.

Chevron’s manufactures and sells products such as fuels, lubricants, additives and petrochemicals. The company’s most significant areas of operations are the west coast of North America, the U.S. Gulf Coast, Southeast Asia, South Korea, Australia and South Africa. In 2010, Chevron sold an average 3.1 million barrels per day of refined products like gasoline, diesel and jet fuel. Chevron’s alternative energy operations are all about geothermal, solar, wind, biofuel, fuel cells, and hydrogen. In the past few years, the company planned to spend at least $2 billion on research and acquisition of renewable power ventures. The company claims it is the world’s largest producer of geothermal energy. Chevron Corporation stock market evolution: http://www.marketwatch.com/investing/stock/cvx

Health Care REIT and Revera, Inc. Acquires Regal Lifestyle Communities Inc. for CAD$766 Million

July 7, 2015 by Sabin Piso

Health Care REIT and Revera, Inc. (“Revera”) announced that they have entered into a definitive agreement to purchase Regal Lifestyle Communities Inc. (“Regal”) in a 75/25 joint venture (JV) for CAD$12.00 per share in cash. This is a total enterprise value of approximately CAD$766 million, or US$623 million.

Regal is a publicly traded Canadian corporation that operates 23 seniors housing communities that has more than 3,600 units. It has 13 communities in Ontario, seven in Quebec, and one each in British Columbia, Saskatchewan and Newfoundland. 83% of the portfolio’s net operating income is from Toronto, Montreal, Ottawa and Vancouver.

Tom DeRosa, HCN’s Chief Executive Officer, mentioned in a statement “Together with our partner, Revera, we continue to deliver compelling housing and care settings for Canada’s growing senior population.” He said. “The acquisition of Regal is a rare opportunity to add a large, high-quality private pay portfolio concentrated in Canada’s largest metropolitan markets, where there is strong underlying demand. HCN’s unparalleled relationship model continues to drive transparent and consistent new investment growth. We will continue pursuing strategic international investment opportunities through our teams on the ground in Toronto and London.”

HCN and Revera go a long way together. The two companies have formed a joint venture in May 2013, when HCN acquired 47 seniors housing communities from Revera for CAD$1.34 billion. Including the acquisition of Regal, the deal is projected to comprise of gross investments of CAD$2.8 billion. More details about the acquisition will be provided in the following weeks to come.

Thomas G. Wellner, President and Chief Executive Officer of Revera, also mentioned in a statement “Revera is entering an exciting period of expansion in the senior living sector focused on growth and innovation across its private pay portfolio in Canada, the United States and the United Kingdom.” He said. “We are pleased to strengthen our relationship with HCN and to grow our leadership position in Canada through the acquisition of these high-quality retirement communities. We look forward to welcoming the Regal teams to Revera and to working together to continue to create a great experience for seniors in our communities.”

About Health Care REIT

Health Care REIT or HCN is one of the partners of families in health care. The company has formed relationships with leading health care systems and seniors for housing operators in the U.S and abroad. Health Care REIT stock market evolution http://www.marketwatch.com/investing/stock/hcn

About Thomas J. DeRosa

Mr. DeRosa is Chief Executive Officer of HCN. Mr. DeRosa has served as Chief Executive Officer since April 2014. Mr. DeRosa has extensive knowledge of the real estate industry and capital markets from his experience as Vice Chairman and Chief Financial Officer of The Rouse Company and at Deutsche Bank and Alex. Brown & Sons and his leadership of the Company as Chief Executive Officer provides him with intimate knowledge of the Company’s business and operations.

About Revera, Inc.

Revera Inc., is a privately owned Canadian provider of accommodation, care and services for retirees and seniors. It operates long term care and seniors housing retirement residences. Formerly named Retirement Residences Real Estate Investment Trust, it used to be publicly traded on the TSX under the symbol RRR.UN and other various symbols but was taken private in 2007. The company is now the second-largest network of accommodation, care and services for seniors in North America, serving older adults at more than 500 locations in Canada and the United States. It also has holdings in the UK. The company is headquartered in Mississauga, Ontario. There are also corporate offices in Cambridge, Ontario and Meriden, Connecticut (USA)

About Thomas Wellner

Thomas Wellner has extensive global experience in biotech, pharmaceuticals and health care services in public and private businesses. Mr. Wellner joined Revera in 2014. Mr. Wellner holds an Honours Bachelor of Science in Life Sciences from Queen’s University, recently completed his ICD Directors Education Program at the Rotman School of business and has completed executive education through Harvard Business School.

About Regal Lifestyle Communities

Regal Lifestyle Communities’ goal is to provide the highest-quality retirement care in Canada; it is the innovation and guidance of our Leadership Team that makes this possible. Regal Lifestyle Communities employs great people to provide residents with an exceptional retirement experience. All residences are locally-operated by the best staff . Regal Lifestyle Communities’ approach is simple: they emphasize care, comfort, and peace of mind. They provide customers with peace of mind through consistent, comprehensive, and high-quality care services offered in accommodations designed for safety and comfort. Regal Lifestyle Communities stock market evolution http://www.bloomberg.com/quote/RLC:CN

CVS Health Acquires Target’s Pharmacy and Clinic Business for $1.9 Million

July 7, 2015 by Sabin Piso

CVS Health Corporation and Target Corporation have announced that they have created a definitive agreement. CVS Health will acquire Target’s pharmacy and clinic businesses for approximately $1.9 billion. CVS Health will also acquire Target’s more than 1,660 pharmacies located in 47 states. These will be operated through a store-within-a-store format and branded as CVS/pharmacy.

A CVS/pharmacy brand will be included in every new Target store that offers pharmacy services. The new Target clinics will be called MinuteClinic, and CVS Health will also open up to 20 new clinics in Target stores as a part of the transaction. The new clinics will be part of CVS/minute clinic’s plan to operate 1,500 clinics by 2017.

Also a part of the transaction, CVS Health and Target plan to develop five to 10 small, stores over a two-year period following the closing of the transaction. These will be branded as TargetExpress and include a CVS/pharmacy.

Larry Merlo, CVS Health President and CEO, mentioned in a statement: “This strategic relationship with Target supports the highly complementary customer base, brand and culture we share.” He said. “When we introduced the new name for our company, CVS Health, we began a new era of growth with a broader health care focus and an appreciation of the rise of health care consumerism with consumer choice and accountability growing. This relationship with Target will provide consumers with expanded options and access to our unique health care services that lead to better health outcomes and lower overall health care costs.”

Brian Cornell, Target Chairman and CEO, also mentioned in a statement “At Target, we’ve talked a lot about the evolving preferences of our guests and this partnership demonstrates that we’re committed to putting them at the forefront of everything we do.” He added “By partnering with CVS Health, we will offer our guests industry leading health care services, and at the same time, sharpen our focus on elevating the way we deliver wellness products and experiences to our guests.”

Following completion of the transaction, Target guests will have access to CVS Health’s leading pharmacy care programs and medical clinic services. Pharmacy programs, including Pharmacy Advisor, Specialty Connect and Maintenance Choice, will help consumers achieve better medication adherence through convenience and enhanced pharmacy care counseling. The company is also committed to providing low-cost generic drug option. This acquisition is consistent with each company’s stated goals of investing in core businesses that help drive growth.

The transaction is subject to customary closing conditions, including necessary regulatory clearance. In-store changes will be rolled out over a period of several months thereafter, as CVS Health and Target work to ensure the smoothest possible transition for all pharmacy and clinic patients. CVS Health is committing to offering the approximately 14,000 in-store Target health care professionals comparable positions with CVS Health as part of the transition. Also following the deal closing, Target will further evaluate the business impact and related support needs at its headquarters locations.

About CVS Health

CVS Health (formerly CVS Caremark Corporation) is an American retailer and health care company. CVS Health operates over 7,700 CVS Pharmacy and Longs Drugs stores; a pharmacy benefit manager, mail order and specialty pharmacies, a retail-based health clinic subsidiary, MinuteClinic; and an online pharmacy, CVS.com. CVS Health is chartered in Delaware, and is headquartered in Woonsocket, Rhode Island, where its four business units are also headquartered. CVS Health stock market evolution: http://www.marketwatch.com/investing/stock/cvs

About Larry Merlo

Larry Merlo is President and Chief Executive Officer of CVS Health. Under Merlo’s leadership, the company is transforming health care by delivering breakthrough products and services. Merlo has received numerous professional honors, including his past role as chairman of the Board for the National Association of Chain Drug Stores (NACDS), where he still serves on the Board’s Executive Committee. He is a graduate of the University of Pittsburgh School of Pharmacy.

About Target Corporation

Target Corporation is an American retailing company, founded in 1902 and headquartered in Minneapolis, Minnesota. Target operates 1,934 stores in the United States; it began operations in Canada in March 2013 and operated 127 locations through its Canadian subsidiary. By 2015, it had 133 stores in Canada. Target stock market evolution: http://www.marketwatch.com/investing/stock/tgt

About Brian Cornell

Brian Cornell is chairman of the board and chief executive officer of Target Corporation. He joined Target in 2014 after serving as CEO of PepsiCo Americas Foods, the largest business sector of PepsiCo. Cornell has served on the board of directors for Home Depot and OfficeMax and on the board of trustees for the Culinary Institute of America. He currently serves on the board of directors for the UCLA Anderson Board of Visitors and Polaris Industries Inc. Cornell earned a bachelor’s degree at the University of California Los Angeles in 1981 and attended UCLA’s Anderson School of Management.

Canada Pension Plan Investment Board Won Bidding for General Electric Co.’s Private – Equity Lending Business

July 2, 2015 by Sabin Piso

Canada Pension Plan Investment Board won the bidding for General Electric Co.’s private-equity lending business. The pension board agreed to pay $12 billion for the transaction. It has managed to lead its way towards the acquisition and has overtaken private-equity firms such as Apollo Global Management LLC and KKR & Co. Experts believe that this is one of the most aggressive bids compared to other competitors’ offers.

Chief Executive Mark Wiseman, leader of the fund, has more than 260 billion Canadian dollars (US$211 billion) under management, up from C$219.1 billion a year ago. Canada’s chief actuary estimates that these will reach C$300 billion by 2020.

The Canadian funds are “no longer content just being passive investors in private-equity funds,” said Jonathan Melmed, head of the Canada practice and co-chair of the global private-equity and buyout practice at law firm Morrison & Foerster LLP. The fund’s aggressive approach in acquiring GE Capital’s private-equity lending unit. The business lends money to private-equity firms for the acquisition and operation of middle-sized companies and is responsible for 400 loans. The company employs about 300 people who manage new loans and transactions for customers.

About the Canada Pension Plan Investment Board

The Canada Pension Plan Investment Board operates a debt business, which was established in 2009 to take advantage as banks backed out during the credit crunch. The midsize-lending market, where the GE business is considered a leader, appealed to the Canadian fund due to a much higher recurring returns it offered, said Mark Jenkins, head of the fund’s private investments.

Under the direction of the then Canadian Finance Minister Paul Martin, the CPP Investment Board was created in 1997 as a group that was independent of the government to monitor and invest the funds held by the Canada Pension Plan (CPP). The CPP Investment Board is a crown corporation created by an Act of Parliament. It oversees the operation of various aspects of the CPP reserve fund. It also plans changes in the direction and the board of directors that is accountable to but independent from the federal government. The CPP Investment Board’s mandate is in its founding legislation, the Canada Pension Plan Investment Board Act. Its investing mandate is to achieve a “maximum rate of return, without undue risk of loss.”

About Mark Wiseman

Mark Wiseman is the President and Chief Executive Officer of CCP. Mark assumed the role of President and CEO in July 2012. He is responsible for leading the CPP Investment Board and its investment activities. Mark Wiseman joined the CPP Investment Board in June 2005 as the organization’s Senior Vice-President, Private Investments. He was later named Executive Vice-President, Investments, responsible for managing all of the investment activities of the CPP Investment Board – Public Market Investments, Private Investments and Real Estate Investments. Born in Niagara Falls, Ontario, Mark holds a BA from Queen’s University and a law degree and MBA from the University of Toronto. In 2006, Mark was named to Canada’s Top 40 Under 40.

Jonathan M.A. Melmed

Jonathan M.A. Melmed, Age 35, New York Office, Corporate. Mr. Melmed’s practice focuses on international corporate mergers and acquisitions private equity and venture capital. He is a member of Chadbourne’s Canada practice and private equity group. Mr. Melmed represents corporations as well as private equity, venture capital and hedge funds in domestic and cross-border M&A, private equity and venture capital transactions, including U.S.-Canada and U.S.-Israel. He has also represented numerous companies and investment banks in U.S. securities transactions, including initial public offerings, as well as both public and private debt and equity offerings. While Mr. Melmed has broad sector experience, including in the media and life sciences sectors, his recent practice has focused heavily on renewable energy. Mr. Melmed received a B.A., with Great Distinction and Dean’s Honour List, from McGill University in 1994 and an LL.B. and a B.C.L., with Distinction, from McGill University, Faculty of Law, in 1998. He is a member of the New York and Quebec, Canada bars.

About General Electric

General Electric (GE) is an American multinational conglomerate corporation incorporated in New York. General Electric has headquarters in Fairfield, Connecticut. As of 2015, the company operates through the following segments: Power and Water. Oil and Gas, Energy Management, Aviation, Healthcare, Transportation, and Capital. In 2011, General Electric has ranked among the Fortune 500 companies as the 26th-largest firm in the U.S. by gross revenue. As of 2012 the company was listed the fourth-largest in the world among the Forbes Global 2000, further metrics being taken into account. General Electric stock market evolution http://www.marketwatch.com/investing/stock/ge

Lavazza Agrees to Purchase Danish Coffee Brand from D. E. Master Blenders

July 1, 2015 by Sabin Piso

Italy’s Lavazza coffee brand has reached agreement to purchase a Danish coffee brand from D.E. Master Blenders. Dutch group D. E. Master Blenders is seeking to comply with European competition authorities’ conditions for approving its merger with Mondelez’s coffee business. One of the conditions for the merger to be cleared was that Mondelez must also sell French brand Carte Noire. Lavazza in April mentioned that it was in contention to purchase Carte Noire. Lavazza however declined to say whether that was still the case after the acquisition o the Danish coffee brand.

The Italian coffee group said on Friday in a statement sent to Reuters. “Lavazza has agreed in terms with D.E. Master Blenders 1753 BV to meet the conditions of the European Commission regarding divestment of the Merrill brand.” Closing of the deal is subject to the Commission’s approval, it also mentioned.

Lavazza did not disclose the financial terms of the deal. Last month, the EC approved the merger of Mondelez’s coffee business with D.E. Master Blenders (DEMB) to create the world’s biggest standalone coffee company, Jacobs Douse Egberts, on condition they sell certain businesses first. ($1 = 0.8914 euros)

About Lavazza

Luigi Lavazza S.p.A. is an Italian manufacturer of coffee products. Lavazza was founded in Turin in 1895 by Luigi Lavazza. The popular coffee brand was initially run from a small grocery store at Via San Tommaso 10. Now the company is being run by the third and fourth generation of the Lavazza family.

Lavazza imports coffee from around the world. Countries in South America, Central America, Africa, Asia and in North America. Branded as “Italy’s Favourite Coffee,” the company claims that 16 million out of the 20 million coffee purchasing families in Italy choose their brand. Among its offerings today are products such as Top Class, Super Crema, Crema e Gusto, Grand’Espresso, Dek (decaffeinated), and coffee capsules A Modo Mio, “Espresso Point” and BLUE. Lavazza is official coffee at the Italy Pavilion, Expo 2015.

About DE Master Blenders

Douse Egberts is the main brand name for D.E. Master Blenders 1753, a multinational tea and coffee company from the Netherlands. It was founded in Joure in the Netherlands by Egbert Douwes in 1753 as By 1925 it had changed its name to Douse Egberts (which is meaning Douse, the son of Egbert), and had introduced the red seal as its logo. The company expanded through Europe, acquiring other tea, coffee and tobacco companies, such as the UK tea distributor Hornimans, until it was taken over by the Sara Lee Corporation in 1978. The tobacco interests, Van Nelle and Drum rolling tobacco, were sold to Imperial Tobacco in 1998.

In 2001 the company in collaboration with Philips produced the Senseo coffee maker system. With profits from the coffee division are considers from rivals such as Nestlé and Kraft, and being unable to find a buyer, in 2012 Sara Lee split off the coffee division into D.E Master Blenders 1753, offering share-holders one share in the new company for each main share they held. In 2013 German investor group Joh. A. Benckiser made an offer to purchase D.E Master Blenders 1753 for $9.8 billion. D. E. Masters stock market evolution http://www.marketwatch.com/investing/stock/dembf

About Mondalez

Mondelēz International, Inc. is a North American multinational confectionery, food and beverage company. Currently it has around 107,000 people around the world. It comprises the global snack and food brands of the former Kraft Foods Inc. The Mondelēz name, adopted in 2012, came from the input of Kraft Foods employees at the time, a combination of the words for “world” and “delicious” in Romance languages.

Mondelēz International manages snack brands around the globe, including cookies and crackers (Oreo, Chips Ahoy!, TUC, Evita, Triscuit, Club Social, Barni, Peek Freans) and gum and candy such as popular Cadbury Dairy Milk and Dentyne. The company is headquartered in Deerfield, Illinois, a Chicago suburb, and is a manufacturer of chocolate, biscuits, gum, confectionery, coffee, and powdered beverages. The company consists of the global snacking and food brands from Kraft Foods Inc. following the spin-off of its North American grocery operations in October 2012. Mondelēz International’s portfolio includes several billion-dollar brands such as Cadbury (acquired through a buy out of Cadbury in 2010) and Milka chocolate, Jacobs coffee, Toblerone, Nabisco and Oreo cookies, powdered beverages, and Trident gums. Mondelēz International has annual revenue of approximately $36 billion and operations in more than 80 countries. Mondelēz Canada controls the rights to Christie Brown and Company, which consists of brands such as Mr. Christie and Dad’s Cookies. The headquarters in Mississauga, Ontario with operations in Scarborough and Montreal. Mondelez stock market evolution http://www.marketwatch.com/investing/stock/mdlz

Buffalo Wild Wings Acquires More Assets of Alamowing Development, LLC

June 30, 2015 by Sabin Piso

Buffalo Wild Wings has exercised its right of first refusal to acquire substantially all of the assets of Alamowing Development, LLC, B III Wing, LLC, RioWing Development, LLC, AlamoWing NM Partners, LLC, AlamoWing NM Partners II, LLC, Southseas Wings, LLC and certain subsidiary and affiliated operating entities.

According to the transaction, Buffalo Wild Wings’ total assets to be acquired consist primarily of 38 existing Buffalo Wild Wings® restaurants. These restaurants are located in key areas in the states of Texas, New Mexico and Hawaii. Aside from these, 3 Buffalo Wild Wings restaurants under development in New Mexico and Hawaii are also part of the deal. The total purchase price for the assets is approximately $160 million.

Buffalo Wild Wings is an American dining restaurant and over the years it has evolved from serving the most popular wild wings menu to a more casual dining atmosphere. It is now a sports bar franchise that is not just found in the US but also in Canada, Mexico and in the Philippines.

The acquisition of the restaurant branches are subject to negotiation and execution of a final purchase agreement and certain regulatory approvals, including a filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. After the purchase agreement has been executed, the transaction will be closed but the end of the third quarter of the year.

Sally Smith, President and Chief Executive Officer, commented: “We believe that the acquisition of these Buffalo Wild Wings locations will provide our shareholders with additional long-term net earnings growth. In the transition to company-owned locations, we anticipate incurring $5 million in one-time expenses. Updates to the timing and financial impact of the acquisition will be provided in our second quarter earnings announcement in late July 2015. We are excited to acquire these well-run locations.”

About Buffalo Wild Wings

Buffalo Wild Wings is an American casual dining restaurant and sports bar franchise in the United States, Canada, México and The Philippines. The house specialty is spicy chicken wings and delicious sauces. The franchise has become a popular venue for watching live sporting events.

Jim Disbrow and Scott Lowery founded Buffalo Wild Wings. The two came up with the idea one weekend when they got together in Kent, Ohio. Disbrow was to judge an amateur figure skating competition at Kent State University in 1980. The two have decided to open up their own restaurant in Columbus, Ohio, and then in Westerville, Ohio.

Originally called Buffalo Wild Wings & Weck, from which the abbreviation bw-3 was created. It was in 1990 when Buffalo Wild Wings & Weck began to franchise. As of February 2015, the restaurant had 1070 locations (485 directly owned by the company, and 585 franchised locations) across all 50 states in the US. An alternate nickname in recent usage by the company is B-Dubs. The corporate headquarters was located in Cincinnati, Ohio until 1997 before moving to Minneapolis, Minnesota. In 2010, the Buffalo Wild Wings company announced an expansion into Canada. In February 2012, Buffalo Wild Wings reported $495 million in total assets. Buffalo Wild Wings stock market evolution: http://www.marketwatch.com/investing/stock/bwld

About Alamowing Development, LLC

Alamowing Development, L.L.C. filed as a Domestic Limited Liability Company (LLC) in the State of Texas. Alamowing Development, L.L.C. also lists another corporation as a key member of the company. Alamowing Development, L.L.C. serves as Manager.

About Sally J. Smith

Sally J. Smith is President and Chief Executive Officer of Buffalo Wild Wings, Inc. Sally Smith was born in Sioux Falls, South Dakota. She graduated from the University of North Dakota in 1979, with a degree in Bachelor of Science in Business Administration and Accounting. Smith has experience with KPMG Peat Marwick. She was with the company for 11 years at their office in Dahlberg, Inc. Smith’s last post was Chief Financial Officer. Smith started working at Buffalo Wild Wings in 1994 as the Chief Financial Officer. She was promoted two years after as President and CEO in 1996. Buffalo Wild Wings then had only 70 locations. Sally Smith played a vital role in the development and growth of Buffalo Wild Wings and while she has been at the company, it has expanded from 35 locations in 1994 to 751 as of March 2011. She has also served as chair of the National Restaurant Association. Smith is the daughter of Dick Wold, who was the leader of First National Bank of Grand Forks, which is now Alerus Financial.

BlackRock and Infraestructura Institucional Enters Into Agreement Strengthening BlackRock Global Platform

June 30, 2015 by Sabin Piso

BlackRock has entered into a definitive agreement with Infraestructura Institucional, a leading independently managed, infrastructure investment firm in Mexico. This is an acquisition of BlackRock which will expand BlackRock’s infrastructure capabilities in the country and deepening its presence in the country.

This agreement plans to improve BlackRock’s existing $6 billion global infrastructure platform. This will also strengthen the company’s business in Mexico. The acquisition also states that BlackRock will be able to complete the needs of its local and international clients. BlackRock infrastructure investment platform will now manage more than $7 billion of invested and committed assets. Along with these are over 80 employees that are located in 6 offices globally. BlackRock’s Mexico office will be under new management and this will expand to over 50 employees and around $26 billion of assets under management.

Jim Barry, global head of BlackRock Infrastructure Investment Group has mentioned in a statement regarding the acquisition: “As our clients’ demand for high quality infrastructure assets continues to grow, we believe that Mexico presents a rapidly evolving investment opportunity for institutional investors globally.” He added “Adding the Infraestructura Institucional team will enhance BlackRock’s ability to deliver previously untapped investment opportunities in Mexico to our local and international clients,”

Armando Senra, head of the Latin America & Iberia Region at BlackRock has also commented on the acquisition: “This acquisition advances BlackRock’s growth strategy in Mexico and Latin America and builds upon our well-established track record in the region.” He added: “Mexico is well-positioned for long-term economic growth and we are excited to further expand our presence in the country.”

Infraestructura Institucional is one of the most popular and most trusted companies with a broad range of infrastructure projects in Mexico. The company manages approximately $1 billion of invested and committed capital. The team in Infraestructura Institucional has extensive experience investing across infrastructure project types in Mexico and this includes transportation, energy and social infrastructure.

The deal is subject to regulatory approvals and is expected to close by the end of the fourth quarter of 2015. The financial effects of this deal are not material to BlackRock earnings per share. Terms of the deal were not disclosed.

About BlackRock

BlackRock, Inc. is a multinational investment management corporation with headquarters in New York City. BlackRock was initially as a risk management and fixed income institutional asset manager, it is one of the world’s largest asset managers with over $4.77 trillion in assets under management. At the end of 2014, 65 percent of Blackrock’s assets under management were from institutional investors. Stock is owned by institutional and individual investors, including BlackRock employees.

BlackRock Solutions (BRS) serves two roles within BlackRock. It is the in-house investment analytics and “process engineering” department for BlackRock, BlackRock Solutions (BRS) and the three primary, FMA, and client solutions. As of 2013, the platform had nearly 2,000 employees. BlackRock stock market evolution: http://www.marketwatch.com/investing/stock/blk

About Jim Barry

Jim Barry is the Managing Director is global head of BlackRick Infrastructure Investment Group with BlackRoot Alternative Investors. Prior to joining BlackRock in 2001, Mr. Barry spent 11 years as the CEO of NTR plc. Prior to joining NTR, he worked at Bain and Company and in the investment banking division of Morgan Stanley. Mr. Barry earned a BComm from University College Cork and an MBA from Harvard Business School.

About Armando Senra

Armando Senra is the Head, Latin America and Iberia Region, BlackRock, USA. Senra is also the Managing Director, is Head of the Latin America & Iberia Region at BlackRock. Mr. Senra is also a member of BlackRock’s Global Operating Committee, Human Capital Committee and Global Executive Committee Client Subcommittee. Mr. Senra became Head of BlackRock’s Latin America and Iberia region in 2008. Senra began his career in 1994 at Merrill Lynch in the US, taking on a number of roles in New York and Princeton. He joined Merrill Lynch Investment Managers (MLIM) in 1997, which merged with BlackRock in 2006. In 1998 Mr. Senra became MLIM’s Head of Distribution for Merrill Lynch Global Wealth Management in EMEA, based out of London. Mr. Senra earned a double BA degree in economics and business administration from Universidad Antonio de Nebrija, Madrid, Spain while spending two years in North Carolina University.

About Infrastructura Institutional

Infrastructura Institucioal S. de RL de CV is a venture capital firm specializing in mezzanine seed/startup, early venture, mid- venture and late venture investments in infrastructure projects and development. It seeks to invest between MX350 million and MX500 million per project. The company was founded in 2009 and is based in Mexico City, Mexico. It operates as a subsidiary of Black Creek group.

Campbell Soup Acquires Assets and Business of Garden Fresh for $231 Million

June 28, 2015 by Sabin Piso

Campbell Soup has announced that is has agreed to purchase the assets and business of Garden Fresh Gourmet for $231 million. The agreement is one of the biggest transactions made by the leading Camden, New Jersey soup company. Garden Fresh Gourmet is known as the top branded refrigerated salsa in the U.S. The company also makes hummus, dips and tortilla chips.

Denise Morrison, Campbell’s President and Chief Executive Officer, mentioned in a statement about the acquisition: “The acquisition of Garden Fresh Gourmet is another milestone in reshaping our portfolio toward faster-growing categories, including packaged fresh and organic foods. Garden Fresh Gourmet’s on-trend products will provide Campbell with another growth engine to help us continue to shift our center of gravity.”

Jeff Dunn, President–Campbell Fresh has made the following comment: “Garden Fresh Gourmet will allow the Campbell Fresh division to expand in the deli section of the grocery store perimeter and will complement our strong presence in the produce section. It is a logical extension of our fresh food and beverage platform that resonates with today’s consumers. This is a critical next step in our journey to becoming the leader in the fast-growing packaged fresh category.” He added “Garden Fresh Gourmet is an American success story, whose leadership has built a vibrant brand with a loyal following in faster-growing categories like refrigerated salsas and hummus. We will leverage our packaged fresh production and distribution, sales and brand-building capabilities to help Garden Fresh Gourmet become a national brand.”

Garden Fresh Gourmet will become part of the Campbell Fresh division, leveraging the Bolthouse Farms refrigerated fresh platform. According to Campbell’s new enterprise structure, the new division will focus on expanding packaged fresh categories. The division also includes the Bolthouse Farms portfolio of fresh carrots, super-premium refrigerated beverages, salad dressings and kids snacks. This also includes the newly launched 1915 brand of ultra-premium cold-pressed organic juices and retail refrigerated soups.

Jack Aronson, who will stay on as an adviser to the business, said, “We believe Campbell is the right company to take Garden Fresh Gourmet to the next level and introduce our great products to more customers and more consumers. I know Campbell is a fitting home for the Garden Fresh Gourmet family.”

Campbell has added a trio of growth engines over the past years to its successful business and these are through acquiring Bolthouse Farms in 2012 and organic baby-food company Plum and biscuit company Kelsen in 2013. The acquisition of Garden Fresh Gourmet is the latest in a series of acquisitions Campbell has made to cater to the needs of consumers for fresh foods and health and well-being.

Campbell expects the transaction not to affect its previously announced fiscal 2015 guidance and to be slightly accretive beginning in fiscal 2016. The closing of the transaction is subject to regulatory approvals and customary closing conditions and is expected to occur in the fourth quarter of fiscal 2015.

About Campbell Soup Company

The Campbell Soup Company, also known as Campbell’s, is an American company that produces canned soups and other food products. The company’s products are sold in 120 countries around the world. Its headquarters are located in Camden, New Jersey. Campbell’s has a total of three divisions: the simple meals division, which consists largely of soups both condensed and ready-to-serve, the baked snacks division, which consists of Pepperidge Farm, and the health beverage division, which includes V8 juices. Campbell Soup Company stock market evolution: http://www.marketwatch.com/investing/stock/cpb

About Denise M. Morrison

Denise Morrison is President and CEO of Campbell Soup Company. Denise has a distinguished track record of building strong businesses and growing iconic brands. She became Campbell’s CEO in August 2011. Previously, Denise was Executive Vice President and General Manager of Kraft Foods’ Snacks and Confections divisions. Denise earned her B.S. degree in economics and psychology from Boston College.

About Jeff Dunn
Jeff Dunn was named President-Packaged Fresh in February 2015. He reports to Denise Morrison, Campbell’s President and Chief Executive Officer. Between 2008 and 2015, Jeff was President of Bolthouse Farms. He previously had leadership positions with The Coca-Cola Company, culminating with his role as President of Coca-Cola North America. Jeff earned his B.A. degree in business from the University of Georgia and his M.B.A. degree in management from The George L. Graziadio School of Business and Management at Pepperdine.

About Garden Fresh Gourmet

Garden Fresh is a food company in Ferndale, Michigan, USA. Garden Fresh started the fresh salsa revolution in 1998, when Jack and Annette Aronson made their first batch of salsa. Today, they make the #1 fresh salsas in North America, along with chips, hummus and dips.

About Jack Aronson

Jack Aronson is the Founder, Chairman and CEO of Garden Fresh Gourmet in Ferndale, Michigan. Aronson also has been involved in relief efforts in Haiti, including visiting victims in person. He also mentors local entrepreneurs and has invested in the Just Baked cupcake shop and bakery company. In 2007, he was named Ernst & Young’s Entrepreneur of the Year in the marketing and consumer products category.

Stifel Financial Will Acquire Barclay’s Wealth and Investment Management

June 25, 2015 by Sabin Piso

Stifel Financial has announced a transaction with Barclay’s Wealth and Investment Management. The St. Louis, Missouri company has entered a definitive purchase agreement to acquire Barclays’ Wealth and Investment Management, Americas franchise in the U.S. (“Barclays Wealth Americas”). According to the agreement between the two financial giants, Stifel will be the U.S. private wealth distribution partner for Barclays’ equities and this includes crediting new issue securities in the U.S.

Ronald J. Kruszewski, Chairman and CEO of Stifel mentioned in a statement: “We are excited about today’s announcement and our continued growth in our Global Wealth Management business. Barclays’ Wealth franchise in the U.S. is a high-touch, high-service business for sophisticated clients. Combining the depth of Barclays’ franchise and breadth of Stifel’s product offerings, coupled with an entrepreneurial and client-focused culture, will create the premier wealth management platform in the industry today. Importantly, we know that you do not acquire people, but we are excited about partnering with the professionals at Barclays.”

Akshaya Bhargava, Barclays’ Chief Executive of Global Wealth and Investment Management, also gave his comment about the transaction. He said, “The sale of our U.S. Wealth franchise to Stifel represents a good outcome for Barclays and for our clients. We are pleased to have been able to find in Stifel a buyer that is committed to helping the franchise to grow over the long term, and providing for our clients an expanded range of products and services.”

As of May 31, 2015, Barclays had approximately 180 financial advisors in the U.S. providing expert financial management services to approximately $56 billion in total client assets. Barclays’ business had on balance sheet assets of approximately $1.4 billion and client loans of approximately $1.5 billion held through Barclays’ clearing firm. Barclays’ advisory business is based in New York and 11 other major metropolitan cities in the U.S.

The transaction is expected to close in mid-November of 2015, subject to regulatory approvals and customary conditions.

About Stifel Financial Corp.

Stifel Financial Corp. is as a financial services holding company. The company started in July 1983 and is listed on the New York Stock Exchange on November 24, 1986. Its predecessor company was founded in 1890 as the Altheimer and Rawlings Investment Company. Stifel has headquarters in downtown St. Louis, Missouri. Stifel offers securities-related financial services in the United States and Europe through several wholly owned subsidiaries. The company’s broker-dealer affiliates offers securities brokerage, trading, investment banking, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank & Trust offers a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. offers trust and related services. Stifel stock market evolution: http://www.marketwatch.com/investing/stock/sf

About Ronald J. Kruszewski

Ronald J. Kruszewski is Chairman of the Board of Stifel Financial Corp. and Stifel, Nicolaus & Company, Incorporated. He joined the firm as Chief Executive Officer in September 1997.
Mr. Kruszewski is also active in community affairs. He serves as Chairman of Downtown Now! and as a member of the Board of Directors of the St. Louis Regional Chamber and Barnes-Jewish Hospital. He is also past Chairman of the Board of Directors of Downtown St. Louis Partnership, Inc. and past non-executive Chairman of the Board of Directors of Angelica Corporation. Mr. Kruszewski is a member of the Regional Business Council in St. Louis and of the St. Louis Chapter of World Presidents’ Organization.

About Barclays Wealth and Investment Management

Barclays Wealth and Investment Management is a company that focuses on wealth management providing private banking, investment management, brokerage and fiduciary services to private clients and financial intermediaries. Barclays provides Wealth and Investment Management in 20 offices to clients in 50 countries and has client assets of £202.8 billion. In May 2013, Peter Horrell was appointed interim Chief Executive of the Wealth and Investment Management division of Barclays and permanently appointed Chief Executive in September 2013. Akshaya Bhargava is the current Chief Executive appointed on October 13, 2014. The Wealth and Investment Management division is part of the Barclays Group. This financial company has a strong presence in Europe, the USA, Africa and Asia.

About Akshaya Bhargava

Akshaya Bhargava is the Chief Executive of Barclay’s Wealth and Investment Management. With over 35 years’ experience in the financial services industry, Akshaya joins Barclay’s from InfraHedge Ltd which he founded in 2010 and was acquired by State Street Corporation in2013. Before this appointed he was CEO of Butterfield Fulcrum Group Ltd and founding CEO of Infosys BPO. He spent 22 years at Citibank in London, India and the Czech Republic.

AZZ, Inc. Acquires Assets of U.S. Galvanizing – AZZ Increases Network of Plants in North America

June 22, 2015 by Sabin Piso

AZZ, Inc. acquired the assets of U.S. Galvanizing, LLC, the two companies have announced in a special statement. US Galvanizing is a premier provider of steel corrosion coating services, and a wholly-owned subsidiary of Trinity Industries, Inc.

According to the transaction, the purchase of these assets will increase the network of AZZ Galvanizing Services especially its hot-dip galvanizing plants to 42 sites in the United States and Canada. The acquisition may have also stemmed from the fact that U.S. Galvanizing, LLC has generated revenue of approximately $34 million in sales in a twelve-month basis as of March 31, 2015.

U.S. Galvanizing, LLC assets that were acquired by AZZ includes six galvanizing facilities found in Hurst, Texas; Kennedale, Texas; Big Spring, Texas; San Antonio, Texas; Morgan City, Louisiana; and Kosciusko, Mississippi. The transaction also included Texas Welded Wire, a secondary business integrated within U.S. Galvanizing’s Hurst, Texas facility.

As part of this acquisition, AZZ and Meyer Steel Structures, a manufacturer of steel structures for electricity transmission and distribution, and a wholly-owned subsidiary of Trinity Industries, have also entered into a long-term supply and service agreement. This includes a provision wherein AZZ will be the primary supplier of hot-dip galvanizing services for Meyer Steel Structures.

Tom Ferguson, president and chief executive officer of AZZ has mentioned in a statement, “This is an important strategic acquisition for AZZ, as we expand our network of galvanizing plants and solidify our relationship with Trinity. Additionally, this further expands our penetration in the states of Texas, Louisiana and Mississippi and it further solidifies our position as the leading North American hot-dip galvanizing provider to the steel fabrication industry for corrosion protection.”

Mr. Ferguson also added, “The ability to acquire six galvanizing properties in one transaction represents a unique opportunity given the current dynamics of the industry. Closer proximity to our clients in the area of the acquired properties will enhance service and turnaround times and provides us the opportunity to develop and attract new clients with the increased capacity and capabilities that we have now added to our portfolio of services. We are also pleased to be the primary provider of galvanizing services to Meyer Steel Structures. While we have provided services to Meyer in the past, with this new agreement we will continue to generate additional efficiencies and value for both parties. We anticipate this acquisition to be accretive to the current fiscal year. We are excited with the opportunities ahead.”

AZZ incorporated (NYSE:AZZ) is a company that was established in 1956 and has headquarters in Fort Worth, TX. The company is a specialty electrical equipment manufacturer and provider of highly engineered services to various industries. Their specialties are power generation, transmission, distribution and industrial as well as a leading provider of hot dip galvanizing services to North American steel fabrication market.

About AZZ, Inc.

AZZ, Inc. is an equipment manufacturer and provider of engineering services to various companies and industries. It has several divisions. AZZ Energy is the leading provider of specialized products and services designed to support industrial, nuclear and electrical applications. AZZ Energy has the most technologically advanced solutions and engineering resources developed from a legacy of proven, reliable product options; AZZ Energy is ideally positioned to meet the most challenging application-specific demands to ensure safe, productive facilities.

AZZ Galvanizing on the other hand provides hot dip galvanizing to the steel fabrication industry through facilities located throughout North America. It is North America’s Largest Galvanizer. AZZ’s vast network of facilities is adequately positioned to serve a variety of industries and applications. Hot-dip galvanizing is a metallurgical process in which molten zinc used to prevent corrosion to fabricated steel. This process extends the life of steel for up to 50 years. AZZ, Inc. stock market evolution: http://www.marketwatch.com/investing/stock/azz

About Tom Ferguson

Mr. Thomas E. Ferguson is the President, Chief Executive Officer and Director of AZZ incorporated. He has extensive experience in the industries in which AZZ operates, having served as Chief Executive Officer of FlexSteel Pipeline Technologies, Inc., a provider of pipeline technology products and services. Prior to serving in this position, Mr. Ferguson spent 25 years serving in various executive capacities with Flowserve Corp. global provider of fluid motion and control products and services, and its affiliates.

About U.S. Galvanizing

U.S. Galvanizing, LLC is a premier provider of steel corrosion coating services. The company offer high-value, hot dip galvanizing services to the steel industry. U.S. Galvanizing, LLC stock market evolution: http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=114340253

About Trinity Industries

Trinity Industries Inc. owns a variety of businesses which provide product and services to the industrial, energy, transportation and construction sectors. The company has five business groups which are Rail Group, Construction Products Group, Inland Barge Group, Energy Equipment Group and Railcar Leasing & Management Services Group. Trinity Industries stock market evolution: http://www.marketwatch.com/investing/stock/trn

Cardinal Health will acquire The Harvard Drug Group for $1.115 Billion in Cash and New Debt

June 19, 2015 by Sabin Piso

Cardinal Health has announced its plans to purchase The Harvard Drug Group a distributor of generic pharmaceuticals, over-the-counter medications and products to retail, institutional and alternate care customers.

Assuming this timing, Cardinal Health expects accretion in non-GAAP diluted earnings per share (EPS) from continuing operations of greater than $0.15 per share in fiscal 2016, net of the $0.03 to $0.04 per share of interest expense for the related debt financing. Cardinal Health expects accretion in non-GAAP diluted EPS of more than $0.20 in fiscal 2017 and for accretion to be increasingly greater thereafter.

The acquisition expands Cardinal Health’s existing telesales programs and will also improve Cardinal Health’s company’s portfolio of over-the counter pharmaceutical products. It will also provide better packaging offerings which will meet the needs of hospital systems and other institutions.

Court Square Capital Partners owns The Harvard Drug Group; Cardinal Health will pay Court Square $1.115 billion in existing cash and new debt. The transaction is expected to close in the beginning of fiscal year 2016 and will be subject to regulatory approvals and other customary closing conditions.

George Barrett, chairman and chief executive officer of Cardinal Health mentioned in a statement: “The Harvard Drug Group aligns perfectly with our commitment to provide the most comprehensive line of pharmaceutical products for the broadest range of customers.” He also said: “This acquisition enhances our ability to support retail and institutional customers and further utilizes Red Oak, our joint venture with CVS Health to source generics.”

About Cardinal Health

Cardinal Health, Inc. is a Fortune 500 health care services company which has headquarters in Dublin, Ohio, USA. The company is known for the distribution of pharmaceuticals and medical products which is present in more than 60,000 locations. Cardinal Health is also one of the top manufacturers of medical and surgical products such as gloves, surgical apparel and fluid management products. On December 10, 2013, it was announced that Cardinal Health would team up with CVS Caremark, which would form the largest generic drug sourcing operation in the United States. The venture was named Red Oak Sourcing and started operations in July 2014. Cardinal Health stock market evolution: http://finance.yahoo.com/q?s=CAH

About George S. Barrett

George Barrett, chairman and chief executive officer of Cardinal Health. Mr. Barrett is one of the top business executives in the pharmaceutical industry. He is seen as “one of the leaders and leading thinkers” in the pharmaceutical industry. Mr. Barrett received his Bachelor of Arts degree from Brown University and his M.B.A. from New York University. He also holds an honorary Doctor of Humane Letters degree from Long Island University’s Arnold & Marie Schwartz College of Pharmacy and Health Sciences.

About The Harvard Drug Group

The Harvard Drug Group is a corporation with a wide variety of brands under its vast portfolio. It started as an independent family business. Over nearly half a century and several acquisitions later, the family business transformed into one of the country’s largest suppliers of prescription and OTC medications and related products. The Harvard Drug Group offers affordable and safe branded, generic and OTC products to healthcare providers. The company’s mission is “to drive value for pharmaceutical partners and consumers.” Buying from The Harvard Drug Group is a confident buying decision that its customers have made through the years. The company maintains rigorous quality standards to ensure the integrity of their products, from procurement through packaging and distribution. The Harvard Drug Group supplier qualification and management process ensures products meet the highest quality standards for customers. The Harvard Drug Group stock market evolution: http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4217472

About Court Square Capital Partners

Court Square Capital Partners is a private equity firm with a business that focuses on leveraged buyout transactions. Court Square was originally a captive private equity firm within Citigroup known as Citigroup Venture Capital Equity Partners. Its investment professionals have invested over $4.5 billion in more than 150 transactions, which have returned $14 billion to date.

The company currently manages approximately $6 billion of investor commitments. It focuses on several industry sectors such as business services, health care, industrials, media and publishing, and technology and telecommunications. Court Square has headquarters in New York City and was from Citigroup in 2006. The name of the company was from the location of Citigroup’s offices at One Court Square in Queens, New York. The firm’s predecessor Citicorp Venture Capital Equity Partners traces its roots to 1968 with the founding of Citicorp Venture Capital. In the 1980s, CVC Equity Partners began to focus primarily on leveraged buyout transactions.

Perrigo to Acquire OTC Brands from GlaxoSmithKline Consumer Healthcare

June 8, 2015 by Sabin Piso

Perrigo has announced that it agrees to acquire a portfolio of popular over-the-counter (“OTC”) brands from GlaxoSmithKline Consumer Healthcare. The transaction is in line with GSK’s commitments to the European Commission as well as from other regulators to divest these businesses for the creation of a consumer health joint venture between GSK and Novartis International AG (“Novartis”). According to the transaction, Perrigo will acquire the following assets; this is an all-cash transaction and the purchase price remains to be undisclosed till this day.

NiQuitin, GSK’s nicotine replacement therapy (“NRT”) business in the European Economic Area (“EEA”) and Brazil is a part of this transaction as well as Novartis’s legacy Australian NRT business, including the Nicotinell brand. Perrigo is also acquiring several assorted OTC brands such as Coldrex, a cold and flu treatment brand known across the EEA, and Panodil a pain relief medication, Nezeril a medication for nasal decongestion and Nasin which is also a nasal decongestant in Sweden. Finally, Perrigo has also acquired Novartis’s legacy cold sore management products which are primarily marketed in the EEA under the brands Vectavir, Pencivir, Fenivir, Fenlips and Vectatone.

Joseph C. Papa, Perrigo Chairman, President and CEO, commented on the transaction with GlaxoSmithKline, “This acquisition demonstrates Perrigo’s ability to execute on our ‘Base Plus Plus Plus’ strategy, in which we make selective, accretive transactions to expand our durable base business. We are building on the global platform we established with the Omega Pharma acquisition to capture an even greater share of the $30 billion European OTC market opportunity with several well-established, complementary brands that bolster our OTC product portfolio. We are committed to making investments in these brands to grow their market positions in key geographies, by following Omega Pharma’s proven approach to brand building.

“Perrigo is uniquely positioned to maximize the potential of these brands by leveraging Omega Pharma’s leading European commercial infrastructure, pan-European distribution network, strong brand-building capabilities, and exceptional management team. This announcement comes on the heels of our recent acquisition of European OTC dermatological product, Vitasil, which recently closed. With our global platform in place and our robust balance sheet, we are ideally positioned to execute immediately accretive deals, such as this one, that will have a multiplier effect on our growth.”

The acquisition is expected to be immediately accretive to Perrigo’s calendar 2015 adjusted earnings per share, excluding estimated intangible amortization and transaction-related costs. The Boards of Directors of Perrigo and GSK has unanimously approved the transaction and is expected to close in the third quarter of 2015, pending approval by the European Commission, the Australian Competition and Consumer Commission, and Brazil’s Council for Economic Defense, as well as the satisfaction of customary closing conditions.

About Perrigo

Perrigo Company plc is an Irish international manufacturer of private label OTC medications. The company’s shares are traded on the NYSE and the Tel Aviv Stock Exchange. As a result of the merger with Agis Industries the company is a constituent of the TA – 25 Index. Perrigo is the only non-Israeli company on the TA-25.

Perrigo Company plc, through its wholly owned subsidiaries, manufactures and sells consumer healthcare products, generic prescription drugs, active pharmaceutical ingredients and consumer products primarily in the United States, Australia, Israel, India, Mexico and in European countries. Perrigo stock market evolution: http://finance.yahoo.com/q?s=PRGO

About Joseph C. Papa

Joseph C. Papa is the President, Chief Executive Officer and Chairman of Perrigo Company plc. He joined the Company in October 2006 as President and Chief Executive Officer. Additionally, Mr. Papa has held management positions at DuPont Pharmaceuticals, Pharmacia Corporation, G.D. Searle & Company and Novartis AG. Mr. Papa is a director of Smith & Nephew, a developer of advanced orthopedic medical devices

About GlaxoSmithKline

GlaxoSmithKline plc (GSK) is a British multinational pharmaceutical company with headquarters in Brentford, London. GSK is the world’s sixth-largest pharmaceutical company in 2014, after its competitors Pfizer, Novartis, Sanofi, Hoffmann – La Roche and Merck. It was established in 2000 by a merger of Glaxo Wellcome (formed from Glaxo’s 1995 acquisition of Burroughs Wellcome) and SmithKline Beecham (from the 1989 merger of Beecham Group and SmithKline Beckman Corporation.

GSK has a variety of products for major disease areas such as asthma, cancer, infections, mental health, diabetes and digestive conditions. Its drugs and vaccines earned billions of pounds in 2013; its top-selling products that year were Advair, Avodart, Flovent, Augmentin, Lovaza and Lamictal. GSK has applied for regulatory approval in 2014 for the first ever malaria vaccine called RTS,S, which will be available for five percent above cost. GSK’s consumer healthcare products, which earned £5.2 billion in 2013, include brands such as Sensodyne and Aquafresh toothpaste, the malted-milk drink Horlicks, Abreva a medication for cold sores, Breathe Right nasal strips, Nicoderm for cigarette cessation and Nicorete, also nicotine replacements, and Night Nurse, a cold remedy. GlaxoSmithKline stock market evolution: http://quotes.wsj.com/GSK .

GameStop Acquires Geeknet, Inc. for Approximately $140 Million

June 7, 2015 by Sabin Piso

GameStop and Geeknet, Inc., the parent company of ThinkGeek and ThinkGeek Solutions, has announced that both companies have entered into a definitive agreement. This agreement specifies that GameStop will acquire all of the outstanding shares of Geeknet’s common stock for $20.00 per share in cash. This deal has been approved by the board of directors of both companies and will be completed through a tender offer. GameStop’s acquisition of Geeknet has a total equity value of approximately $140 million. This includes $37 million of cash and cash equivalents as of March 31, 2015.

Paul Raines, chief executive officer of GameStop, stated, “This acquisition creates value to all stakeholders involved. The addition of Geeknet is an important expansion of our global multichannel platform and we are excited to leverage their product development expertise to broaden our product offering in the fast-growing collectibles category and deepen relationships with our existing customer base.”

Kathryn McCarthy, chief executive officer of Geeknet, mentioned in a statement: “Our Board and management team believe this transaction is in the best interest of Geeknet and its stockholders.” She added “As a part of GameStop’s family of brands, Geeknet will be well-positioned to achieve our goals of increasing our brand awareness and expanding our product offerings.”

The transaction will extend the product offering of GameStop and this move is expected to add an immediate incremental $100+ million in annual net sales. Geeknet will benefit from the transaction through the following points. This transaction will expand GameStop’s diversified revenue stream by adding ThinkGeek, the No. 1 brand in the fast growing collectibles category. This acquisition is expected to increase operating earnings, and has a targeted IRR that exceeds 20%. Online, pickup-at-store, web-in-store and standalone retail will become a strong part of GameStop. Geeknet’s proprietary product innovation capabilities and established portfolio of premier along with their hard-to-secure licenses will greatly help GameStop become a leader in the industry and furthermore, the transaction will improve the engagement with GameStop’s core customers, in particular the 40 million global PowerUp Rewards members.

According to the terms of the definitive agreement, GameStop will commence a tender offer for all outstanding common shares of Geeknet, at $20.00 per share in cash. The tender offer is conditioned on Geeknet’s stockholders tendering at least a majority of Geeknet’s outstanding shares in the tender offer, clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The acquisition is expected to close by the end of GameStop’s second quarter 2015. Geeknet stockholders who represent approximately 21% of outstanding shares have all committed to engage in the tender offer.

About GameStop Corporation

GameStop Corporation is an American video game, consumer electronics, and wireless services retailer company. GameStop has headquarters in Grapevine, Texas and operates 6,457 retail stores throughout the United States, Canada, Australia, New Zealand, and Europe. Its retail stores primarily operate under the GameStop, EB Games, and Micromania brands. It also owns Kongregate, a site for browser-based video games; and Game Informer, a video game magazine. GameStop stock market evolution: http://www.marketwatch.com/investing/stock/gme

About J. Paul Raines

Mr. J. Paul Raines has been the Chief Executive Officer of GameStop Corp. and GameStop, Inc., since June 2010. Mr. Raines has more than 22 years of senior level experience in corporate management. He has a wealth of retail operations expertise and has an impressive track-record with executing strategies to support the customer experience and drive positive results. He serves as Director of The Home Depot Foundation., The Latin American Association (LAA) of Atlanta, and the Hispanic Association of Corporate Responsibility (HACR) Alumni. Mr. Raines earned his Bachelor of Science in industrial engineering from the Georgia Institute of Technology in 1985.

About Geeknet

Geeknet, Inc. is headquartered in Fairfax County, Virginia and is the owner of the online retailer ThinkGeek, Formerly known as VA Research, VA Linux Systems, VA Software, and SourceForge, Inc., it was founded in 1993. Geeknet, Inc. stock market evolution: http://finance.yahoo.com/q?s=GKNT

About Kathryn K. McCarthy

Kathryn McCarthy is the President, Chief Executive Officer, and Chairman of the Board of Directors of Geeknet, Inc. She has served as part of the Board of Directors and as Chief Executive Officer and President since March 2013, and Chairman of the Board since July 2013. During her tenure at the Company, she has led efforts to increase brand awareness, expand GeekLabs exclusive product offerings, improve the site experience and upgrade technology, and expand to new channels, including wholesale and the ThinkGeek Solutions acquisition. Among other qualifications, Ms. McCarthy brings to the Board of Directors her financial and managerial experience as well as an in-depth knowledge of the Company’s business and operations.

British American Tobacco Plc Acquires TDR from Adris Grupa for €550 Million

June 5, 2015 by Sabin Piso

British American Tobacco PLC has announced that it has agreed to purchase TDR d.o.o. and other tobacco and retail assets from Adris Grupa d.d. for €550 million. TDR is one of the most popular independent cigarette manufacturers in Central Europe. The company has a leading position in Croatia and in Bosnia and Serbia. This amazing lead will provide BAT the opportunity to develop its business in the region. TDR is a cigarette manufacturer headquartered in Central Europe with great market in Croatia, Bosnia and Serbia. BAT expects the transaction to provide the opportunity to significantly grow its business in the region.

With the combination of BAT and TDR, British American Tobacco plc expects to benefit from the great benefits. The company is sure to benefit from TDR’s highly skilled people, a well-established brand, improved regional leaf processing capabilities, an equipped high quality local factory and print facility and of course a great advantage over all other competitors because of a strong relationship with distributors and retailers.

According to the transaction BAT has committed to keeping TDR’s manufacturing facility in Kanfanar, Croatia. This huge facility will remain operational for at least five years following completion of the acquisition.

Chief Executive Nicandro Durante of British American Tobacco commented: “This is an exciting acquisition for BAT, which will provide immediate scale in three core markets of Croatia, Bosnia and Serbia and establishes a sustainable platform to grow our business in Central Europe”.

The proposed acquisition is subject to a number of anti-trust approvals and Adris shareholder consent. The transaction is expected to complete in October 2015. In London, British American Tobacco shares were trading at 3,646.50 pence, up 1.14 percent.

About British American Tobacco PLC

British American Tobacco plc (BAT) is a British multinational tobacco company that has headquarters in London, United Kingdom. At present, it is one of the world’s largest tobacco companies. BAT has a leading position in the tobacco industry in over 50 countries. It has operations in around 180 countries. You may recognize BAT products with its four largest-selling brands. These are Dunhill, Lucky Strike, Kent and Pall Mall. Other cigarette brands that are also made by BAT are Kool, Benson & Hedges and Rothmans.

British American Tobacco has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. As at 6 July 2012 it had a market capitalisation of £65.6 billion. It is the sixth-largest of any company listed on the London Stock Exchange. It has a secondary listing on the Johannesburg Stock Exchange.

The British American Tobacco company was formed in 1902, when the United Kingdom’s Imperial Tobacco Company and the American Tobacco Company of the United States agreed to form a joint venture forming the British-American Tobacco Company Ltd. The parent companies agreed not to trade in each other’s domestic territory and to assign trademarks, export businesses and overseas subsidiaries to the joint venture. The formed company had its first chairman by the name of James Buchanan Duke. The British American Tobacco business began business in various diverse countries such as Canada, China, Germany, South Africa, New Zealand and Australia. Back then, it did not made business in the United Kingdom or in the United States.

British American Tobacco stock market evolution: http://www.google.com/finance?cid=3098087

About Nicandro Durante

Nicandro Durante is the Chief Executive of British American Tobacco PLC. He originally joined the Board of British American Tobacco as Chief Operating Officer in January 2008 after almost two years as Regional Director for Africa & Middle East. Nicandro was appointed Chief Executive Designate in September 2010.

Nicandro has a Brazilian / Italian ancestry. He holds degrees in finance, economics and business administration. He joined British American Tobacco’s Brazilian subsidiary Souza Cruz in 1981. This was after three years working in finance in two Brazilian companies where he built a successful finance career. In 1997 Nicandro was appointed Finance Director in Hong Kong before returning to Brazil in 2000 as Finance Director for Souza Cruz. In April 2002 he was appointed President of Souza Cruz. Nicandro was appointed as a Non-Executive Director of Reckitt Benckiser Group plc in December 2013.

About Adris Grupa

Adris Grupa is the largest tobacco company in Croatia and one of the largest in the Balkans. It is made up of two business units: Tobacco and Tourism. The Tobacco unit companies involves: TDR d.o.o, Istragrafika d.d, Hrvatski duhani d.d. The company markets cigarettes under the brand names of Ronhill, Walter Wolf, York and MC. The Tourism unit companies involves: Maistra d.d. The company is headquartered in the city of Rovinj, it was founded in 2003, and its stock is listed at the Zagreb Stock Exchange. Adris Grupa stock market evolution: http://www.zse.hr/default.aspx?id=17560&dionica=ADRS-R-A

Equinix Will Acquire TelecityGroup for $3.6 Billion

June 4, 2015 by Sabin Piso

Equinix has agreed to acquire TelecityGroup. This is a deal worth $3.6 billion. The transaction for the deal was submitted yesterday and the following are the items included in the deal:

The transaction has a value of approximately 1,145.0 pence per TelecityGroup Share and a value of approximately £2,351.9 million for TelecityGroup’s entire issued and to be issued share capital according to the volume-weighted average share price of $267.74 per Equinix Share for the 5 day period to 28 May 2015.This is being the last Business Day before the date of this Announcement as well as the exchange rate on 28 May 2015 of 1.5283.

And according to the value of approximately 1,145.0 pence per TelecityGroup Share, the terms of the acquisition represent a premium of about 34.9 per cent. This is from the Closing Price of 848.5 pence per TelecityGroup Share on 10 February 2015 and this being the last Business Day before TelecityGroup announced its merger with Interxion.

Along with the terms of the deal, a premium of approximately 56.5 per cent to the volume-weighted average share price of 731.8 pence per TelecityGroup Share. This is for the 12-month period to 10 February 2015. This again being the last Business Day before TelecityGroup announced its proposed deal with Interxion and a premium of about 27.3 per cent to the Closing Price of 899.5 pence per TelecityGroup Share on 6 May 2015. This date being the last Business Day before TelecityGroup announced that the company is interested in creating a deal with Equinix.

The current value of the transaction according to Equinix’s Closing Price of $269.19 on 28 May 2015, being the last Business Day before the merger was announced, and an exchange rate on 28 May 2015 of 1.5283 is 1,148.5 pence per TelecityGroup Share.

After the completion of the Transaction, TelecityGroup Shareholders will now own approximately 10.1 per cent. John Hughes, Executive Chairman of the Board of TelecityGroup, will become a part of the Board of Equinix. TelecityGroup directors, which were advised by Goldman Sachs International and Oakley Capital Limited on the terms of the Transaction, consider the terms fair and reasonable. The directors of TelecityGroup unanimously recommend that TelecityGroup Shareholders vote according to the Scheme at the Court Meeting and the resolutions of the Transaction at the TelecityGroup General Meeting.

TelecityGroup directors have irrevocably undertaken their own beneficial holdings of 128,318 TelecityGroup Shares in aggregate which is approximately 0.0632 per cent of TelecityGroup’s issued share capital on 28 May 2015 which is the last Business Day before this Announcement.

Regarding the outcome of the transaction, the Board of Equinix believes that this will deliver incredible value for the shareholders of both TelecityGroup and Equinix. The Board of Equinix also believes that the premium offered, which includes a significant cash component and the opportunity for TelecityGroup Shareholders to be able to join in combined value creation through the transaction’s equity component is a huge opportunity for TelecityGroup Shareholders.

On the other hand, the Board of Equinix believes that acquisition will pave the way for improved network and cloud density so that the combined company will be able to better serve its customers. The combined company will create a stronger platform to attract more customers and pursue the huge opportunity in the industry. Equinix also expects that the deal will enable reaccelerated deployment of cloud service provider nodes and to further improve the services of Equinix’s cloud ecosystem strategy. More information about the acquisition will be announced on a later date.

About Equinix

Equinix, Inc. is an American public corporation that offers carrier-neutral data centers and internet exchanges. The company provides network-neutral data centers (IBX or “International Business Exchange”) as well as interconnection services. Some of the most popular services that the company offers are collocation, traffic exchange and outsourced IT infrastructure solutions which are important to enterprises, content companies, systems integrators and over 1,000+ network service providers worldwide.

Equinix data centers is the source of more than 500 cloud service providers and this helps make the Equinix Cloud Exchange come to life. This is a service through proprietary software that amazingly helps users to connect to simultaneously connect to multiple clouds. Equinix stock market evolution http://www.marketwatch.com/investing/stock/eqix.

About Telecity Group

Telecity Group plc was formerly known as TelecityRedbus and before that Telecity. This company is a European carrier-neutral datacentre and colocation centre provider. Telecity focuses on the design, build and management of highly connected, resilient and secure environments where customers can house their telecoms, internet and IT infrastructure. Telecity is listed on the London Stock Exchange and is a part of the FTSE 250, FTSE techMARK 100 and FTSE4Good indices. Telecity Group stock market evolution: http://www.bloomberg.com/quote/TCY:LN .

Royal Dutch Shell Will Purchase Rival BG Group for 47 Billion Pounds

May 4, 2015 by Sabin Piso

Royal Dutch Shell said that it will buy smaller rival BG Group for 47 billion pounds ($70 billion). Experts believe that this is “the first major energy industry merger in more than a decade.” Shell is also closing in on market leader U.S. Exxon Mobil following a drop in oil prices.

According to sources, the transaction will include the following information: Shell will pay BG cash and shares that value each BG share at 1,350 pence. This transaction has a value of around 52 percent to the 90-day trading average for BG. These values set the bar high should there be any form of counterbid by any oil company such as Exxon. The American multinational oil and gas company from Irving, Texas said it would also use the downturn in oil prices to expand.

The purchase improves Shell assets in Brazil, East Africa, Australia, Kazakhstan and Egypt. Shell will inherit BG’s projects in liquefied natural gas (LNG). Currently, the demand for other sources of energy has been sought as consumers turn away from coal which is considered the top polluting fuels. Shell will also acquire BG’s capacity in LNG logistics which includes infrastructures such as terminals, pipelines, specialized tankers, rigs, super coolers, regasification facilities and storage facilities.

Ben van Beurden, CEO of Shell, commented about the transaction of the decade: “Bold, strategic moves shape our industry. BG and Shell are a great fit. This transaction fits with our strategy and our read on the industry landscape around us. Over time, the combination will enhance our free cash flow potential, and our capacity to undertake share buybacks, where I expect to see a substantial increase in pace.”

Helge Lund, CEO of BG, provides his comments about the purchase: “The offer from Shell delivers attractive returns to shareholders and has strong strategic logic. BG’s deep water positions and strengths in exploration, liquefaction and LNG shipping and marketing will combine well with Shell’s scale, development expertise and financial strength. The consolidated business will be strongly placed to develop the growth projects in BG’s portfolio. The transaction will take time to complete, during which my team and I will remain committed to BG and our shareholders, and to safely delivering our 2015 business plan.”

About Shell

Royal Dutch Shell plc commonly known as Shell is an Anglo–Dutch multinational oil and gas company which has headquarters in the Netherlands and incorporated in the United Kingdom. The company was from the merger of Royal Dutch Petroleum and UK-based Shell Transport & Trading. It is the fourth largest company in the world, in terms of revenue in 2014 and one of the six oil and gas top players. Shell is also listed as one of the world’s most valuable companies.

The largest shareholder of Shell is Capital Research Global Investors as of January 2013 with 9.85%; BlackRock is the second largest with 6.89%. In the 2013 Fortune Global 500 list of the world’s largest companies, Shell is found at the top of the list. Royal Dutch Shell revenue was equal to 84% of the Netherlands’ $555.8 billion GDP. Royal Dutch Shell stock market evolution: http://www.marketwatch.com/investing/stock/rds.a

About Ben van Beurden

Ben van Beurden is the CEO of Royal Dutch Shell plc. He joined Shell in 1983, after earning a degree in Chemical Engineering from the Delft University of Technology in the Netherlands.

About BG Group

BG Group plc is a British multinational oil and gas company with headquarters in Reading, United Kingdom. BG has operations located in 25 countries across Africa, Asia, Australasia, Europe, North America and South America. This massive oil company is able to produce around 680,000 barrels of oil equivalent per day. BG is the leader in Liquefied Natural Gas (LNG) business and it is the top supplier of LNG to the United States. As at 31 December 2009 the company has proven commercial reserves of 2.6 billion barrels (410,000,000 m³) of oil equivalent. BG Group is listed on the London Stock Exchange and under the FTSE 100 Index. It had a market capitalisation of £44.9 billion since July 2014 and is the seventh-largest company listed on the London Stock Exchange. BG stock market evolution: http://www.bloomberg.com/quote/bg/:ln

About Helge Lund

Helge Lund is a Norwegian businessman who is the Chief Executive Officer (CEO) of BG Group. He was also the former CEO of Statoil and Aker Kværner. Lund graduated in business management at the Norwegian School of Economics in Bergen. He also has a Master of Business Administration (MBA) from the INSEAD business school in France.

Informatica to Be Acquired by Permira and Canada Pension Plan Investment Board for $5.3 Billion

April 12, 2015 by Sabin Piso

The deal that is approximately $5.3 billion states that Informatica will be acquired by a company that is controlled by CPPIB and Permira. According to the terms of the agreement, Informatica shareholders will receive $48.75 in cash for each share of Informatica common stock.

Informatica is known as the leader in several technology categories, including Cloud Technologies, Data Integration for Big Data initiatives, and MDM Solutions. The company’s growth strategy is to be the best in all geographic regions and to grow across customer data initiatives and of course to assume leadership in all things data.

“After careful consideration and deliberation of strategic alternatives, our Board of Directors unanimously concluded that the sale of Informatica to the Permira funds and CPPIB is in the best interest of all Informatica stakeholders,” said Sohaib Abbasi, chairman and chief executive officer, Informatica. “While delivering immediate compelling value to our shareholders, we remain committed to the long-term success of our customers, partners, and employees. Permira and CPPIB share both our vision for Informatica to power the data-ready enterprise and our conviction in sustained long-term growth.”

“Informatica is an outstanding company and a clear leader in the essential field of enterprise data solutions,” said Brian Ruder, a Permira Partner and Co-Head of the firm’s Technology Sector Team. “We are very excited about the Company’s ongoing transition to cloud and subscription based services, as well as its continued pursuit of four separate billion dollar market opportunities in cloud integration, master data management, data integration for next generation analytics, and data security. In addition, we look forward to working with this talented team of dedicated employees and CPPIB to grow the business and achieve Informatica’s highest potential.”

“This transaction represents an excellent opportunity to acquire a market-leading enterprise data integration solutions provider,” said Mark Jenkins, Senior Managing Director & Global Head of Private Investments, CPPIB. “Informatica’s differentiated suite of software solutions, stable base of recurring revenues and strong potential for future growth make this a highly attractive investment for CPPIB. We look forward to partnering with the Informatica team and the Permira funds to accelerate the Company’s growth and to support Informatica’s continued market leadership in product innovation.”

The Board of Directors of Informatica has unanimously approved the merger recommend that Informatica shareholders will adopt the agreement. The transaction is expected to be completed in either the second or third quarter of 2015 and is subject to receipt of shareholder approval as well as customary regulatory approvals.

About Informatica Corporation

Informatica Corporation is a software development company which started in 1993. Its headquarters are in Redwood City, California. Founded by Diaz Nesamoney and Gaurav Dhillon. The company’s chairman and CEO is Sohaib Abbasi.The software company has popular products such as Cloud Integration, Complex Event Processing, Data Masking, Data Quality, Data Replication, Data Virtualization, Master Data Management, Ultra Messaging.

The Informatica Marketplace was launched in 2010 with products and services such as data integration eco-system for Informatica and its partners to share and leverage data integration solutions. Informatica features over 1,300 pre-built mappings, templates, connectors and add-ons for data integration and cloud data integration products. Informatica stock market evolution: http://www.nasdaq.com/symbol/infa

About Permira Funds

Permira is a European equity company, founded in 1985. Since 1985 the Permira funds have made nearly 200 private equity investments. Permira specializes in five sectors: Consumer, Financial Services, Healthcare, Industrials and TMT (Technology, Media, and Telecommunications). At present there are 25 companies in the Permira portfolio. The firm has approximately 120 professionals. Permira teams are based in Frankfurt, Guernsey, Hong Kong, London, Luxembourg, Madrid, Menlo Park, Milan, New York, Paris, Stockholm and Tokyo. Permira is led by two co-managing partners Kurt Björklund and Tom Lister.

About Canada Pension Plan Investment Board (CPPIB)

The Canada Pension Plan Investment Board (CPPIB) manages more than C$238 billion in investment assets of Canada Pension Plan which is pension plans for eighteen million Canadians. Under former Canadian Finance Minister Paul Martin, the CPP Investment Board started in 1997 as an organization independent of the government. Its job was to monitor and invest the funds held by the Canada Pension Plan (CPP). The CPP Investment Board created the CPP Reserve Fund. CPP Investment Board is a crown corporation through an Act of Parliament. It presents reports its performance on a quarterly basis and has a professional management team to oversee the operation of all the aspects of the CPP reserve fund. It is important in planning changes in direction, along with a directorial board which is responsible but independent from the federal government.

Ventas Inc. Will Purchase Ardent Medical Services Inc. For $1.75 Billion

April 10, 2015 by Sabin Piso

Ventas Inc. plans to purchase privately held hospital chain Ardent Medical Services Inc. for a whopping $1.75 billion in cold cash. The acquisition will give Ventas 10 Ardent hospitals with about 2,045 beds, hundreds of physicians, tens of thousands of employees, specialty physicians and pharmacies. This greatly enhances Ventas Inc. portfolio as one of the biggest health care real estate investment trust companies in the industry.

Ventas’ shares were up 2 percent at $74.74 in premarket trading on Monday. Ventas will split Ardent’s real estate portfolio from its hospital operations. Afterwards it will sell the hospitals to a new company owned by current Ardent management and other equity sources. Through this financial strategy, Ventas will retain up to 9.9 percent of the new company. The transaction is expected to add 8-10 cents to Ventas’ funds from operations per share in the first year after the transaction closes. This deal is expected to close in mid-2015.

At present, Ardent owns 12 acute-care hospitals, a rehabilitation hospital, three multi-specialty physician groups and retail pharmacies. On the other hand Ventas, which owns seniors housing communities, medical office buildings, skilled nursing facilities and hospitals, also plans to create its own portfolio of skilled nursing facilities. This is expected to be completed in the second half of 2015.

“The addition of Ardent’s platform, which includes high-quality assets with significant market share in three key markets, and a highly-regarded hospital management team, creates a strong avenue for growth in the attractive hospital real-estate market,” Ventas Chief Executive Debra Cafaro said.

About Ventas Inc.

Ventas, Inc. is an S&P 500 company, is a leading real estate investment trust (REIT), with a highly diversified portfolio of more than 1,600 seniors housing and healthcare properties in the United States, Canada and the United Kingdom. Ventas has delivered consistent, superior long-term returns to shareholders for a lot of, outperforming both the S&P 500 and the MSCI US REIT Index. By maintaining an outstanding balance sheet and ample liquidity, Ventas strives to improve the cost of capital and enhance stakeholder value. Ventas Inc. stock market evolution: http://www.google.com/finance?cid=663130

About Debra A. Cafaro

Debra A. Cafaro is Ventas, Inc. Chief Executive Officer since 1999 and as our Chairman of the Board of Directors since 2003. Under her leadership, Ventas’s market capitalization rose to nearly $25 billion, from $200 million. Additionally, Ventas was named the top performing publicly traded financial company for the first decade of this century and Fortune Magazine ranked it as one of its “Most Admired” real estate company globally in 2013. Ms. Cafaro was recognized in 2014 by the Harvard Business Review in its list of “The Best-Performing CEOs in the World,” ranking her in the top 30 global CEOs and by Crain’s Chicago Business as one of the “Most Powerful Women in Business”. She was also named one of the “100 Most Influential People in Healthcare” by Modern Healthcare.

Ms. Cafaro received her J.D. cum laude in 1982 from the University of Chicago Law School, where she was named its Distinguished Alumna in 2011, and her B.A. magna cum laude from the University of Notre Dame in 1979.

About Raymond J. Lewis

Raymond J. Lewis has been President of Ventas since 2010. He previously served as Executive Vice President and Chief Investment Officer from 2006 to 2010 and as our Senior Vice President and Chief Investment Officer from 2002 to 2006. He is also currently a member of the Executive Board of the American Seniors Housing Association where he serves as Secretary and Treasurer on the Executive Committee. Mr. Lewis is a graduate of the University of Wisconsin.

About Ardent Health Services

Ardent Health Services is a national health care company with headquarters in Nashville, Tennessee. Its subsidiaries own and operate hospitals and multispecialty physician practices in three states plus a number of retail pharmacies. Within the industry, Ardent is known for recognizing that every hospital is unique as it serves. Ardent is also known for our investments in people, facilities and technology. As a premier provider of health care services, Ardent seeks highly qualified, highly motivated employees. The Ardent Health system currently includes a total of 13 hospitals in 3 states, 3 multispecialty physician groups employing 325 physicians, 12,000 employees, 11 retail pharmacies, $1.9 billion in revenues projected in 2014 and $701.5 million in capital investment in three systems since acquisition. Ardent is led by President and CEO David T. Vandewater and supported by the financial strength of Welsh, Carson, Anderson & Stowe, the leading private equity investor in the health care industry.

Concord Music Group Buys Vanguard and Sugar Hill for $120 Million

April 9, 2015 by Sabin Piso

The world’s largest independent music companies combine to form a formidable music group. This deal is no ordinary deal since Concord Music Group — home to Paul McCartney and Paul Simon, has paid $120 million for this huge deal. Concord has announced Wednesday that it had acquired the two record labels, Vanguard and Sugar Hill.

The two record labels Vanguard and Sugar Hill are being sold by the Welk Music Group. These acquisitions will add to Concord’s already amazing collections of folk and country music. Vanguard has been one of the world’s leading labels when it comes to folk music. In its heyday during the 1950s and ’60s, it has released albums by the most popular artists of these times such as the Weavers, Joan Baez and Buffy Sainte-Marie. Vanguard’s current artists are the Indigo Girls and Chris Isaak. On the other hand, Sugar Hill was started in 1978 with formidable artists such as Dolly Parton and Sarah Jarosz.

These acquisitions will provide Concord control of most of Welk’s catalog. The terms of the transactions were not disclosed; however the giant record label said that Kevin Welk, the company’s president, would remain as the chief creative of Vanguard and Sugar Hill.

Concord began in 1972 as a jazz label is concentrated with adult audiences. It has a super collection of about 10,000 albums which includes the music of Creedence Clearwater Revival, Stax and Rounder.

Concord also mentioned in its announcement that it was merging with Bicycle Music, an affiliated music publisher, to form Concord Bicycle Music. The two companies have a variety of shared investors and this includes Wood Creek Capital Management. Wood Creek Capital took control of Concord in 2013 as part of a deal estimated at $120 million.

Billboard magazine has estimated that the combined Concord Bicycle Music would have annual revenue of $125 million.

About Concord

Concord Music Group is a wholly owned independent music company with headquarters in Beverly Hills, California. It has a world-wide distribution through Universal Music Group. Concord Music Group’s active roster includes Paul McCartney, James Taylor, Chick Corea, Alison Krauss, Ben Harper, Esperanza Spalding, Christian Scott, Arturo Sandoval, Booker T. Jones, Kenny G, George Benson, Steve Martin and Alejandro Escovedo. The company’s master catalog recordings include John Coltrane, John Fogerty, Frank Sinatra, Creedence Clearwater Revival, Ray Charles, Miles Davis, Little Richard, Otis Redding, Thelonious Monk, Isaac Hayes, Ella Fitzgerald, Tony Bennett and Albert King.

About Vanguard Records

Vanguard Records is a record label set created in 1950 by brothers Maynard and Seymour Solomon in New York. It started as a classical label, but is perhaps best known for its catalogue of recordings by pivotal folk and blues artists from the 1960s; the Bach Guild was a subsidiary label. The label was acquired by Concord Bicycle Music in April 2015.

Sugar Hill Records

Sugar Hill Records is an American bluegrass and Americana record label. It was founded in Durham, North Carolina in 1978 by Barry Poss with assistance from David Freeman, the owner of County Records and Rebel Records. Poss acquired full control of Sugar Hill in 1980 and owned the label until 1998, when he sold it to the Welk Music Group, owner of Vanguard Records. Poss stayed on as president, and in 2002 was promoted to chairman.

Sugar Hill remained in Durham until 2007, when Poss moved the label to Nashville, Tennessee. Among the many popular artists of Sugar Hill are Nickel Creek, Doc Watson, Townes Van Zandt, Ricky Skaggs, Guy Clark, Sam Bush and Dolly Parton. One of Parton’s albums for Sugar Hill, Halos & Horns (2002), included a song called “Sugar Hill”, which she wrote as a tribute to the label. In 2008, Welk Music Group appointed EMI as distributor of its labels including Sugar Hill. The label was acquired by Concord Bicycle Music in April 2015.

About Bicycle Music Company

The Bicycle Music Company is a globally influential independent music publisher, record label and rights manager. The company is committed to innovative marketing, creative and administrative practices, promoting exceptional growth on behalf of their songwriters, recording artists and investor partners. Bicycle Music Company is quick to identify opportunity in both hit songs and hidden gems, and provide personalized support to help songwriters and recording artists find greater success in the music and media landscape. The company has a diverse catalog which spans genres, territories and eras and builds an emotional connection with consumers of film, television, terrestrial and satellite radio, interactive games, recordings, downloads and streaming services. Bicycle Music Company influences music users around the globe, and provides thoughtful, personal attention to their songwriters, recording artists and clients. It was founded in 1974 and is continuously innovating till this day.

DP World Will Purchase Fairview Container Terminal for $457 Million

April 8, 2015 by Sabin Piso

DP World, one of the world’s biggest port operators, will buy Canada’s Fairview Container Terminal from Deutsche Bank for $457 million. This acquisition will invest in a “growth opportunity in a market with attractive and growing demand”.

Fairview Container Terminal is purpose-built terminal in Prince Rupert, British Columbia under the Prince Rupert Port Authority. This port is one of the most efficient with a sea-rail link and a current capacity of 850,000 TEU which is anticipated to rise to 1.35 million TEU following a just-announced phase-two expansion.

DP World operates in more than 65 marine terminals across six continents. The transaction is subject to Canadian regulatory approval. DP World expects to complete the deal in the second half of 2015.

The Centerm Terminal in Port Metro Vancouver in Canada is already owned by DP World. The Dubai-based ports operator said the concession period runs to 2034 with an extension to 2056 after the completion of phase two. This transaction will have amazing benefits to Canada, including to the Province of British Columbia, to the City of Prince Rupert, to First Nations communities right down to importers, exporters and consumers. These were mentioned in an exclusive statement from DP World.

Mohammed Sharaf, group chief executive officer of DP World mentioned in a statement that Fairview Container Terminal offers the fastest access for vessels travelling between Asia and North America. This terminal also boasts the highest productivity rates on the West Coast. Sharaf is also excited regarding the long-term concession and ability to build beyond the current phase two of the terminal’s expansion since it is a fantastic opportunity for DP World.

“We are delighted to announce this transaction and look forward to further enhancing the port’s operations under DP World management,” he said.

For 2014, DP World posted an 11.8 per cent rise in net profit to $675 million compared with $604 million in the prior year. Last year’s revenue was $3.41 billion, up 11 per cent from 2013. DP World invested $807 million across its portfolio in 2014, adding two million TEU.

About DP World

DP World is an Emirati marine terminal operator. It is based in Dubai and is one of the largest marine terminal operators in the world. The company operates more than 60 terminals across six continents, with container handling generating around 80% of its revenue. DP World has 11 new developments and major expansions in 10 countries. It has several expansion projects all over the world including India, China and the Middle East. The company was founded in 2005 by merging Dubai Ports Authority and Dubai Ports International. It purchased Peninsular and Oriental Steam Navigation Company (P&O) of the United Kingdom in 2006 for £3.9 billion ($7 billion). The company does not currently operate in the United States where its purchase of a number of U.S. ports led to controversy. DP World stock market evolution: http://www.bloomberg.com/quote/DPW:DU

About Mohammed Sharaf

Sharaf is the Chief Executive Officer DP World. He has a Degree in Business Administration from the University of Arizona, Tucson. Sharaf has nearly 20 years’ experience in the transport and logistics business. Began shipping career at Holland Hook Terminal, Port of New York/New Jersey. Currently, CEO, DP World, the global port operator formed in 2005 joining domestic and international arms of the Dubai Ports Organization.

About Prince Rupert Port Authority

The Prince Rupert Port Authority (PRPA) is a port authority under the Canada Marine Act as an autonomous and commercially viable agency. It has responsibility for all federally owned waterfront properties on Prince Rupert Harbour, located in and around the city of Prince Rupert on the North Coast of British Columbia.

Created on May 1, 1999, it the Prince Rupert Port Corporation (PRPC). PRPC was the successor to the National Harbours Board, which previously operated all federally owned ports in Canada. The port authority reports to the Minister of Transport and has a Board of Directors consisting of local business and community figures. The PRPA port facilities include Atlin Terminal, Northlands Cruise Terminal, Lightening Dock, Ocean Dock, Pinnacle Pellet Terminal, Fairview Terminal, Prince Rupert Grain and Ridley Terminals. All PRPA facilities are serviced by CN Rail.

About Fairview Container Terminal

The Fairview Container Terminal is a 24 hectare (59 acre) port terminal. It is the first dedicated intermodal (ship to rail) container terminal in North America, with an operational capacity to move 750,000 TEUs (Twenty foot Equivalent Units) per year. It is designed to efficiently handle the largest concentration of intermodal rail business. The terminal was completed in September 2007 and commenced operations with the arrival of COSCO’s Antwerp on October 31, 2007.

Diageo Now in Full Control of South African United National Breweries

April 7, 2015 by Sabin Piso

Diageo has taken full control of South African beer business United National Breweries after buying out the other half of the company that it did not already own.

Diageo has purchased the final half of United National Breweries that it did not own and has paid $22m (£14.8m). The brewer has also agreed to pay a $14m in the future should the group meet future earnings targets specified in the transaction.

Diageo first invested in UNB two years ago, it paid $36m to buy half the company. The other half was then owned by Pestello Investments which is a group connected with tycoon Vijay Mallya.

United National Breweries makes a traditional form of African beer known as sorghum. It is also the biggest brewery of its kind in South Africa. The acquisition deal deal is conditional on approval from South African competition authorities. On the other hand Diageo, whose best-known brands include Guinness and Johnnie Walker whisky, has focused its expansion in South Africa and other emerging markets in recent years, such as breweries from China, Brazil, India and others. However, Diageo is now facing a slowdown in sales growth in the emerging markets, and these latest business efforts has forced chief executive Ivan Menezes to look for cost-cutting drives to make the company more versatile in the markets its operates in.

United National Breweries Vijay Mallya self-proclaimed “King of Good Times” fell on harder times after his entry to the airline industry was unsuccessful. Diageo took advantage of this situation as it moved in on the assets of Mr. Mallya. The UK group took majority control of Mr. Mallaya’s United Spirits business last year which is the creator of popular liquor brands such as McDowell’s.

According to Diageo: “Once completed, this transaction will give Diageo control of the leading traditional sorghum beer business in South Africa, including the ability to make investment decisions to support the continued growth of United National Breweries brands in the sorghum beer category.” The transaction is expected to complete within the current fiscal year.

About Diageo

Diageo plc is a British multinational alcoholic beverages company with headquarters in London, England. It is the world’s largest producer of spirits and a major producer of beer and wine. Diageo’s brands include Smirnoff, Johnnie Walker, Baileys and Guinness. Diageo also owns 34% of Moët Hennessy, which owns brands including Moët & Chandon, Veuve Clicquot and Hennessy. The company sells its products in over 180 countries and has offices in around 80 countries. Diageo has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £48.9 billion as of 7 May 2013, making it the 8th-largest company on the London Stock Exchange. It has a secondary listing on the New York Stock Exchange. Diageo stock market evolution: http://finance.yahoo.com/q?s=DEO

About Ivan Menezes

Ivan Menezes is an Indian-born American/British business executive. He is the chief executive officer of Diageo. Menezes was born in Pune, Indiaand is the son of Manuel Menezes, who was the chairman of the Indian Railway Board. He was educated at St. Stephen’s College, Delhi and Indian Institute of Management Ahmedabad, and the US Kellogg School of Management. Menezes joined Diageo in 1997. He is also a non-executive director of the US-based fashion retailer Coach, Inc.

About United National Breweries

United National Breweries is the leading manufacturer of Traditional African Sorghum Beer in South Africa. It produces and distributes this kind of beer from 6 Breweries and numerous distribution depots situated throughout South Africa. UNB holds the major South African Umqombothi brands in its stable and is compelled to champion the cause of Umqombothi and strives to uphold the image of this amazing product in all of its endeavors.

About Vijay Mallya

Vijay Mallya is an Indian businessman and politician. He is the son of businessman Vittal Mallya, the chairman of the UB Group, an Indian conglomerate with interests in beverage alcohol, aviation infrastructure, real estate and fertilizer among others. Mallya is also a member of the Rajya Sabha, the upper house of the Parliament of India.

Mallya also owns several franchises. He also co-owns the Formula One team Sahara Force India. His major companies own Indian Premier League team Royal Challengers Bangalore, the I-League teams Mohun Bagan A.C. and East Bengal F.C.[citation needed] He is also a member of the World Motor Sport Council representing India in the FIA. Mallya is the Chairman of public companies both in India and the US. He has been the Chairman of Sanofi India (previously Hoechst AG and Aventis) as well as the force behind Bayer CropScience in India as chairman for over 20 years. In addition to being the Chairman of the mentioned companies, he is also the leader of several other companies.

Horizon Pharma to Purchase Hyperion Therapeutics, Inc. for $1.1 Billion in Cash

April 6, 2015 by Sabin Piso

Horizon Pharma plc and Hyperion Therapeutics, Inc. announced today a definitive agreement wherein Horizon Pharma will acquire all of the issued and outstanding shares of Hyperion’s common stock for $46.00 per share in cash or approximately $1.1 billion based on a fully diluted basis. The proposed transaction has been unanimously approved by both companies’ boards of directors.

“The Hyperion acquisition will expand and diversify our product portfolio by adding two complementary orphan disease products, RAVICTI and BUPHENYL, and leverage as well as expand the existing infrastructure of our orphan disease business,” said Timothy P. Walbert, chairman, president and chief executive officer, Horizon Pharma plc. “This transaction will be immediately accretive to adjusted EPS and we expect the contribution of RAVICTI and BUPHENYL in 2016 will add approximately $100 million to our adjusted EBITDA, including cost synergies contributing greater than $50 million. Additionally, this acquisition further accelerates our near- and long-term sales and adjusted EBITDA growth and provides significant value for both Horizon and Hyperion shareholders.”

“During the last two years, we have solidified our position in the orphan disease space and made significant progress in bringing life-changing medicines to people with urea cycle disorders,” said Donald J. Santel, president and chief executive officer, Hyperion Therapeutics, Inc. “I would like to thank my colleagues for their tireless commitment to advancing the clinical development and understanding of RAVICTI, BUPHENYL and urea cycle disorders. Horizon shares our commitment and I’m confident that the strength of its existing orphan business unit will continue to expand the reach of these important medicines to more patients impacted by these disorders.”

This transaction will increase the number of Horizon’s products from five to seven, along with the addition of RAVICTI and BUPHENYL. This provides additional revenue diversification, it leverages Horizon’s orphan business unit with attractive revenue and operating synergies. Along with these there is an expected 2016 adjusted EBITDA of approximately $100 million from the acquired business with expected cost synergies of more than $50 million.

The acquisition states that an all cash tender offer for all the issued and outstanding shares of Hyperion common stock at a price of $46.00 per share will be followed by a merger in which each remaining untendered share of Hyperion common stock would be converted into the $46.00 per share cash consideration paid in the tender offer.

Horizon has created these agreements with certain stockholders of Hyperion, along with certain members of the Hyperion management team and certain funds from members of the Hyperion board of directors. The transaction is pursuant to which each of these stockholders has agreed to tender Hyperion common shares owned of record which in the aggregate represent approximately 21 percent of the outstanding Hyperion common shares according to the date the agreements were made.

Closing of the transaction is subject to customary conditions, including the tender of a majority of the outstanding Hyperion shares and expiration or termination of the HSR. It is anticipated that the transaction will close in the second quarter of 2015. A conference call will transpire today at 8 A.M. ET at 8 a.m. Eastern Time today. Horizon’s management will host the conference call and live audio webcast to discuss the transaction and related matters of the acquisition.

About Horizon Pharma

Horizon Pharma Public Limited Company is a pharmaceutical company that develops and markets medicine through its subsidiaries in the US. The company was founded in 2005 and is headquartered in Dublin, Ireland. Their products are for the treatment of inflammatory illnesses diseases. As of March 2014, the company has a market capitalization of $1.18 billion and an enterprise value of $1.21 billion. Horizon Pharma stock market evolution: http://www.marketwatch.com/investing/stock/hznp

About Timothy P. Walbert

Timothy P. Walbert joined Horizon Pharma in June 2008 as president and chief executive officer and has served as chairman of the board of directors since 2010. Mr. Walbert received his B.A. in business from Muhlenberg College, in Allentown, Pennsylvania.

About Hyperion Therapeutics

Hyperion Therapeutics, Inc. is a commercial-stage biopharmaceutical company that develops and delivers life-changing treatments for patients suffering from orphan diseases. Hyperion Therapeutics stock market evolution: http://finance.yahoo.com/q?s=HPTX

About Donald J. Santel

Donald J. Santel has served as CEO since June 2008, and has been a member of the board of directors since 2007. Mr. Santel was previously a member of the board of directors and the CEO of CoTherix, Inc., a biopharmaceutical company. He brought CoTherix public in 2004, when he was responsible for all aspects of the business and led the sale of CoTherix to Actelion in 2007. Mr. Santel holds an MS in electrical engineering from the University of Minnesota and a BSE in biomedical engineering from Purdue University.

Telefonica SA Will Sell O2 UK to Hutchison Whampoa Ltd for £10.25 Billion

March 27, 2015 by Sabin Piso

Li Ka-shing purchases British cellphone operator O2 and caps a reversal of fortune for his European telecommunications business which has spent almost a decade on a financial standstill. Hutchison Whampoa Ltd. Is a conglomerate run by Mr. Li. He intends to pay £9.25 billion ($13.74 billion) in cash to buy O2 from Telefónica SA of Spain as well as £1 billion later if the combination of O2 with Three. Three is Hutchison’s existing British carrier. This will transpire if O2 meets cash-flow targets. This information is according to a Telefónica regulatory filing held on Tuesday.

This acquisition will complete Mr. Li’s telecom and infrastructure company and will be known as one of Europe’s top wireless providers. This will more than triple Three’s U.K. subscribers to 34 million and creates the country’s biggest provider of mobile services.

Mr. Li, who is chairman of Hutchison and Cheung Kong (Holdings) Ltd., is finally enjoying his success. Hutchison is the first company to develop high-speed third-generation, or 3G, networks in the United Kingdom when it started operations in 2003.

“They are certainly a disrupter operator, and a maverick,” said Kester Mann, a principal telecommunications analyst at CCS Insight. Three has been able to entice customers using consumer – friendly offers such as unlimited data plans, free calls using Internet phone operator Skype and free roaming for voice calls.

On the other hand, Telefónica said the sale is likely to be completed no later than June 30, 2016, subject to regulatory approvals. The company sold its Irish telecom operations to Hutchison in 2013.The O2 deal is the latest in Mr. Li’s buying spree of water and waste-management utilities, in Europe since the financial crisis. He is taking the most of the situation by buying relatively cheaper companies as well as assets that have a steady cash flow. All these efforts reduce exposure to Hong Kong and China.

It is evident that Mr. Li is very much interested in European companies. Earlier this year, Mr. Li announced a string of deals in Europe which included takeover bids for a British train-car maker and a Dutch drugstore chain. One of Mr. Li’s key lieutenants, Hutchison Managing Director Canning Fok, is the brains of the telecom businesses. Mr. Fok is an accountant and accomplished pianist; he favors a streamlined management structure with little bureaucracy. Top executives of European units do not have any issues reaching Mr. Fok directly by phone and quickly win approval for a strategy change. This is done even within 24 hours.

It has been known that it took more than two months for Telefónica to reach an agreement on the O2 deal but on the other hand Mr. Fok needed less than 36 hours to negotiate Hutchison’s purchase of the Spanish company’s operations in Ireland in 2013. Mr. Fok said last month it was considering a potential merger in Italy.

By AL Mijares

About Hutchison Whampoa Ltd

Hutchison Whampoa Limited is an investment holding company with headquarters in Hong Kong. It is a Fortune Global 500 company and one of the largest companies listed on the Hong Kong Stock Exchange. HWL is an international corporation with a diverse array of holdings which includes the world’s biggest port and telecommunication operations in 14 countries and run under the 3 brand. Its business also includes retail, property development and infrastructure. It is 49.97% owned by the Cheung Kong Group. Hutchinson Whampoa Limited stock market evolution: http://www.bloomberg.com/quote/13:hk

About Li Ka-shing

Sir Ka-shing Li is a Hong Kong business magnate, investor, and philanthropist. As of April 16, 2014 he is the richest person in Asia, with a net worth of $31.9 billion. He is the Chairman of the Board of Hutchison Whampoa Limited and Cheung Kong Holdings as of 2008. He is the world’s largest operator of container terminals and the world’s largest health and beauty retailer.

About Telefonica

Telefónica, S.A. is a Spanish broadband and telecommunications provider with operations in Europe, Asia, North America and South America. It is one of the largest mobile network providers in the world. It has headquarters in the Distrito Telefónica in Madrid. Telefonica stock market evolution: http://www.reuters.com/finance/stocks/overview?symbol=TEF.MC

About O2

Telefónica UK Limited is a telecommunications and Internet services provider in the United Kingdom owned by Telefónica. It is the second-largest mobile telecommunications provider in the United Kingdom and is headquartered in Slough. O2 plc was purchased by the Spanish telecommunications company Telefónica in 2005 for £18 billion. On March 24 2015 Three UK purchased O2 UK subject to regulatory approval. Three UK is now the UKs largest network overtaking its competitors. O2 stock market evolution: http://www.marketwatch.com/investing/stock/otow

Ocwen Financial’s Ocwen Loan Servicing, LLC Sells Portfolio with 142,000 Loans to Nationstar Mortgage

March 26, 2015 by Sabin Piso

Ocwen Financial through Ocwen Loan Servicing, LLC and Nationstar Mortgage LLC, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings Inc. Collectively “Nationstar”) have agreed to the sale by Ocwen of residential mortgage servicing rights on a portfolio that has approximately 142,000 loans owned by Freddie Mac and Fannie Mae. This is through a total principal balance of approximately $25 billion. This acquisition is subject to a definitive agreement, approvals by Freddie Mac, Fannie Mae and FHFA and other customary conditions. The two companies have agreed to close the transaction before the middle of the year.

“This transaction, on top of the one announced in February between Ocwen and Nationstar, furthers our announced corporate strategy and demonstrates the strong working relationship we have developed with Nationstar,” said Ron Faris, Chief Executive Officer of Ocwen.

“This transaction builds upon our strong track record of portfolio acquisitions while serving the needs of homeowners, and we look forward to expeditiously closing and boarding this portfolio,” said Jay Bray, Chief Executive Officer of Nationstar. “We will continue to work cooperatively with Ocwen as they evaluate the sale of additional agency portfolios and look forward to continuing discussions with all counterparties.”

Ocwen will sell an additional $25 billion of servicing rights on agency loans to a subsidiary of Nationstar Mortgage Holdings Inc; this is the fourth deal of the mortgage company in just two months. These activities show the strength of Nationstar in portfolio acquisitions as well as the ability to provide the best option for companies. Nationstar has a strong record of acquisitions yet still it maintains its high level of relationship with homeowners and customers.

Ocwen’s shares fell 6 percent to $8.31 in premarket trading on Tuesday. The company has decreasing its operations since regulators questioned its servicing standards last year. Ocwen was able to sell about $90 billion of servicing rights since February. Ocwen representatives had said earlier this month that it will be raising around $550 million through the sales of its servicing rights on agency loans of about $55 billion. Ocwen and Nationstar also mentioned that they expect the transaction to close before the middle of the year. This is subject to approvals by government agencies. More information about this portfolio acquisition by Nationstar will be provided by representatives starting by the middle of the year.

About Ocwen:

Ocwen Financial Corporation is a provider of residential and commercial mortgage loan servicing, special servicing and asset management services. Ocwen main office is in Dunwoody, Georgia; Ocwen is licensed to service mortgage loans in all 50 states, the District of Columbia and two U.S. territories. Ocwen has been providing residential mortgage loans since 1988 and subprime mortgage loans since 1994.Ocwen market evolution: http://www.reuters.com/finance/stocks/overview?symbol=OCN.N

About Ron Faris

Mr. Ronald M. Faris, also known as Ron, has been the President of Ocwen Financial Corp. since March 2001 and its Chief Executive Officer since October 28, 2010. Mr. Faris serves as President and Chief Executive Officer at Ocwen Loan Servicing, LLC. He served as a Director at Ocwen Federal Bank FSB since March 2001. Mr. Faris holds a Bachelor of Science in Accounting from Pennsylvania State University.

About Nationstar Mortgage

Nationstar Mortgage is a leading residential mortgage services company that provides quality solutions to customers. Nationstar is headquartered in Dallas, Texas. It offers servicing, origination, and transaction-based real estate services. Nationstar is considered as one of the most prominent when it comes to mortgage servicers with a servicing portfolio in excess of $375 billion and over 2 million customers. In 2013, Nationstar acquired Greenlight Financial Services, a leading direct-to-consumer loan in television, radio and other media. Nationstar stock market evolution: http://finance.yahoo.com/q?s=NSM

About Jay Bray

Mr. Jay Bray has been Chief Executive Officer of Nationstar Mortgage Holdings Inc. since 2012. Mr. Bray serves as Executive Vice President and Chief Financial Officer of Nationstar Capital Corporation. He served as the President at Nationstar Mortgage Holdings Inc. from October 7, 2011 to February 27, 2012. He has managed the Asset Backed Securitization process for NationsCredit and EquiCredit originated products, at Bank of America. His responsibilities included developing and implementing a secondary execution strategy and profitability plan, managing investment banking relationships, secondary marketing operations, investor reporting and investor relations. Mr. Bray is also a leader in the portfolio acquisition pricing and modeling group, acquiring over $9 billion in non-conforming product in 1999 – ranked No. 1 in sub-prime acquisition by B&C Lending magazine. Mr. Bray serves as a Director of Nationstar Mortgage Holdings Inc. and Nationstar Capital Corporation. He holds a B.A.A. from Auburn University in 1988.

ChemChina to Purchase Pirelli for $7.7B

March 25, 2015 by Sabin Piso

China National Chemical Corp will purchase Italian tire maker Pirelli for $7.7 billion; to take advantage of weak Euro

China National Chemical Corp will purchase Pirelli. This Italian company is the world’s fifth-largest tire maker. This acquisition is valued at a 7.1 billion euro ($7.7 billion). But this deal is not just about money; it will place one of the symbols of Italy’s manufacturing industry in the hands of Chinese manufacturers.

This acquisition deal which was agreed by Pirelli shareholders on Sunday is one of the most recent in as string of takeovers in Italy by Chinese buyers. This is also a move that takes advantage of a weak euro.

This buy out will also give state-owned ChemChina, which is led by acquisitive chairman Ren Jianxin, the ability to create high quality tires using updated technology. It is expected that products will be sold at higher margins as a result and give the Pirelli pole position in the huge Chinese market.

ChemChina’s China National Tire & Rubber, its tire-making arm, will first buy the 26.2 percent that Italian holding firm Camfin owns in Pirelli. Afterwards it will launch a mandatory takeover bid for the rest. The bid will be launched by the Chinese state-owned group and part-owned by Camfin investors. This includes Pirelli boss Marco Tronchetti Provera, Italian banks UniCredit and Intesa Sanpaolo, and Russia’s Rosneft. .

The acquisition offer will be launched at 15 euros per share, valuing the group at 7.1 billion euros excluding net debt of almost 1 billion euros at the end of 2014. As details of the deal were mentioned on Friday, shares in Milan-listed Pirelli, rose to a 25-year high and closed at 15.23 euros. Experts believe that this is a sign of an improved offer or a rival bid.

Pirelli, whose tires are primarily used in Formula One motor racing, would have more bandwidth because of this recent activity. This will allow it to compete against larger rivals such as Michelin and Continental, brands that are dreaming of making a huge name in China.

The new Chinese owners will choose a new chairman. Tronchetti Provera will remain chief executive.

“We’re pleased to have this opportunity working with Tronchetti and his team and continue to build together a world-class entity and a market leader in (the) global tire business,” Ren said in a statement.

By A.L. Mijares

About ChemChina

China National Chemical Corporation (ChemChina) is a large State-owned enterprise under the administration of SASAC and established in May 2004 with the approval of the State Council. ChemChina is in the list of Fortune 500 and China’s largest chemical company and ranks 19th among the world’s top 100 chemical corporations. The main business of ChemChina is made up of six sectors: new chemical materials; basic chemical materials; oil processing; agrochemicals; rubber products; chemical equipment. ChemChina is implementing the 12th Five-year Plan and accelerating industrial restructuring. In the future, it will form a business layout of “3+1”, namely: materials science, environmental science and life science plus basic chemical. It strives to become a world-class chemical company with international competitiveness.

About Ren Jianxin

Ren Jianxin, born in 1958, graduated from the economics department of Lanzhou University, with a major in business management. He has a Master’s in economics, and is a Professor of Engineering. In September 1984, Ren founded China’s first professional cleaning company. He held the following posts: general manager and secretary of the CPC at the BlueStar Chemical Cleaning Group; deputy general manager of the China National Chemical Equipment Corp; and vice president of China Haohua Chemical (Group) Corp.

In May 2004, after the China National Chemical Corp was founded, Ren was general manager and deputy secretary of the CPC, at the China National Chemical Corp. Since December 2014 he serves as Chairman and Party Secretary of ChemChina.

About Pirelli

Pirelli & C. SpA is a multinational company based in Milan, Italy, listed on Milan Stock Exchange since 1922. The company, the world’s fifth-largest tire manufacturer behind Bridgestone, Michelin, Continental and Goodyear. Pirelli has been sponsoring sport competitions since 1907 and is an exclusive tire supplier for the Formula One Championship for 2011-2016 and for the FIM World Superbike Championship.

Pirelli stock market evolution: http://www.reuters.com/finance/stocks/overview?symbol=PECI.MI

About Tronchetti Provera

Marco Tronchetti Provera is an Italian businessman. As of 2014 he is Chairman and Chief Executive Officer of Pirelli & C. S.p.A., Chairman of Pirelli Tyre S.p.A., and Chairman of the holding Marco Tronchetti Provera & C. S.p.A., which he controls, and up to December 2013 he was also Chairman of Camfin S.p.A., the main shareholder in Pirelli & C. S.p.A. He is Deputy Chairman of the Board of Mediobanca SpA, a member of the executive committee of Italian industrialists’ association Confindustria and sits on the International Advisory Board of insurance company Allianz.

Coty, Inc. Will Acquire Bourjois from CHANEL for 15 Million Coty Shares

October 13, 2014 by Sabin Piso

Coty, Inc. leading cosmetics company will acquire Bourjois from renowned company CHANEL for $15 million Coty shares.

Coty, Inc. and CHANEL have announced that Coty will acquire the Bourjois cosmetics brand from CHANEL for 15 million Class A Coty shares. The world renowned cosmetics and fashion company CHANEL has agreed to enter into exclusive negotiations. This a binding offer to buy the Bourjois cosmetics brand from Chanel for 15 million Coty shares is worth about $239 million.

Bourjois was founded in 1863 by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors. Since then, the Bourjois’ portfolio of color cosmetic products is available all over the world from approximately 23,000 points of sale in more than 50 countries. Bourjois has enjoyed leading positions in some of the most attractive markets for color cosmetics, such as Western Europe, the Middle East and Asia.

Bart Becht, Chairman and Interim CEO of Coty Inc. mentioned in a special interview “We are looking forward to having the Bourjois brand as part of our portfolio of leading beauty products, as well as welcoming CHANEL as a Coty shareholder.” He added “Bourjois’ brands are highly complementary to Coty’s existing color cosmetics portfolio. Additionally, the company’s strong heritage, quality image and leadership positions in a number of Western European countries where Coty is seeking to bolster its presence, provide a great opportunity for Coty to further strengthen its leadership position in the large and growing color cosmetics category.”

On the other hand, Michael Rena, CHANEL’S Representative cited in his exclusive interview about the transaction “We are excited about the potential opportunities that joining with Coty could present for Bourjois.” Mr. Rena added “Coty and Bourjois share a passion for color cosmetics and together they would have strong potential to further advance their leadership in this attractive global category. We intend to examine the offer in more detail and enter constructive talks with Coty.”

The proposal is subject to customary closing conditions. These include regulatory clearances and the relevant employee representative bodies will be consulted prior to entering into a definitive agreement.

Mr. Bart Becht also mentioned that this acquisition would significantly help his company bolster its presence in Western Europe. Mr. Rena understands the superiority of Coty and that together with the Bourjois brand will create a new leader in color cosmetics considering that the two brands share the same passion to do so.

More details of the transaction between Coty, Inc. and CHANEL will be announced later as the agreement becomes final between the two companies.

A.L. MIjares

About Coty, Inc.

Coty, Inc. is a global beauty products manufacturer founded in Paris, France by François Coty in 1904. Its main products are fragrances, color cosmetics and skin & body care products. Coty is known for its collaboration with designers and celebrities in the creation of fragrances.Coty’s manufacturing facilities are located in Ashford, UK; Granollers, Spain; Chartres, France; Monaco; Jiangsu Province, China; Sanford, North Carolina, Los Angeles, California, Phoenix, Arizona, USA. Coty, Inc. stock market evolution: http://www.nasdaq.com/symbol/coty

About Bart Becht

Lambertus Johannes Hermanus “Bart” Becht is a Dutch businessman. Mr. Becht is the former CEO of Reckitt Benckiser, a company he headed since its creation in 1999 through the merger of Benckiser with Reckitt & Colman. Becht studied economics at the University of Groningen, Netherlands and took an MBA at Rotterdam School of Management, Erasmus University and the University of Chicago. He joined the Benckiser side of the business in 1988, following a career at Procter & Gamble. He retired as CEO of Reckitt Benckiser on 31 August 2011, and was replaced by Rakesh Kapoor.

About CHANEL

Chanel S.A. is a French, privately held company owned by Alain and Gerard Wertheimer, grandsons of Pierre Wertheimer, who was an early business partner of the couturière Gabrielle Bonheur Chanel. Chanel S.A. is a high fashion house that specializes in haute couture and ready-to-wear clothes, luxury goods and fashion accessories. In her youth, Gabrielle Chanel gained the nickname Coco from her time as a chanteuse. As a fashion designer, Coco Chanel catered to women’s taste for elegance in dress, with blouses and suits, trousers and dresses, and jewellery of simple design that replaced the opulent, over-designed, and constrictive clothes and accessories of 19th-century fashion. The Chanel product brands such as perfumes, cosmetics, jewelry and accessories have been personified by fashion models, celebrities and actresses, including the following beautiful women: Inès de la Fressange, Catherine Deneuve, Carole Bouquet, Vanessa Paradis, Nicole Kidman, Anna Mouglalis, Lucía Hiriart, Hope Portocarrero, Audrey Tautou, Keira Knightley and Marilyn Monroe.

About Michael Rena

Michael Rena is a representative and global CAO and President at CHANEL SRL.

Becton Dickinson Agreed to Acquire CareFusion for $12.2 Billion

October 11, 2014 by Sabin Piso

Becton Dickinson agreed to purchase CareFusion for a total of $12.2 billion increasing its hold on global medical management.

Becton Dickinson has agreed to acquire CareFusion for $58.00 per share in cash and stock for a total of $12.2 billion. Becton Dickinson will become one of the global leaders in providing medication management and patient safety solutions.

The combination of the two companies’ complementary product portfolios will yield integrated medication management solutions as well as smart devices. The combination will also improve the quality of patient care and will hopefully reduce healthcare costs by focusing on the unmet needs of patients in hospitals, hospital pharmacies and alternate sites of care to increase efficiencies. Doing so will reduce medication administration errors and improve patient and healthcare worker safety.

Becton Dickinson also expects a more solid position in patient safety to maximize outcomes its areas of expertise such as infection prevention, respiratory care, and acute care procedural effectiveness.

The terms of the transaction has been revealed and this mentioned that CareFusion shareholders will receive $49.00 in cash and 0.0777 of a share of BD for each share of CareFusion, or a total of $58.00 per CareFusion share based on BD’s closing price as of October 3, 2014.

The transaction is subject to regulatory and CareFusion shareholder approvals and customary closing conditions. It is expected to close in the first half of calendar year 2015. And during this time, BD shareholders will own approximately 92 percent of the combined company and CareFusion shareholders will own approximately 8 percent.

Vincent A. Forlenza, BD’s Chairman, Chief Executive Officer and President, said, “BD’s acquisition of CareFusion allows us to align our highly complementary technologies and products to address unmet needs in the growing $20 billion global medication management industry, which leverages BD’s world-wide infrastructure. It accelerates BD’s transition from a product-focused company to a customer-centric provider of innovative healthcare solutions with leading scale across the medication management value chain and expanded solutions for patient safety. With the targeted cost savings we have identified and the growth opportunities we see in bringing CareFusion products to more patients and healthcare workers around the world, we expect this transaction to create meaningful value for our shareholders, customers, employees and other stakeholders. We’ve long admired CareFusion’s strong franchises and look forward to welcoming their talented team to BD.”

Kieran T. Gallahue, CareFusion Chairman and Chief Executive Officer, said, “As part of BD, we see new growth opportunities for our products in global markets, new value we can create for our customers and new opportunities for our employees as part of what will become one of the largest, global leaders in med-tech. The transaction delivers attractive value for CareFusion shareholders, and represents a powerful endorsement of our strong positions in medication management, informatics across our device platforms and leading products to help improve the effectiveness of acute-care procedures.”

BD has created a detailed execution plan to ensure a seamless integration for CareFusion. An integration team made of senior members of both organizations will be led by BD Chief Operating Officer William A. Kozy. Through a strategized execution of its plans it is confident that it can achieve identified cost synergies as it builds a dynamic organization that combines two world class companies. This transaction also offers more opportunities for employees as part of a global leader.

CareFusion will operate as part of BD’s Medical segment; CareFusion will continue to hold headquarters in San Diego.

A live conference call and webcast will be conducted by Becton Dickinson and CareFusion on October 6, 2014, at 8:00 a.m. (ET). The webcast of the conference call and related slides will be accessible through BD’s and CareFusion’s websites. A replay will be available through BD’s and CareFusion’s websites, or at 800-585-8367 (domestic) and 404-537-3406 through the close of business on October 13, 2014, confirmation number 16089829.

A.L. Mijares

About Becton Dickinson

Becton, Dickinson and Company is an American medical technology company that manufactures medical devices, instrument systems and reagents. It is headquartered in Franklin Lakes, New Jersey; the company’s customers include healthcare institutions, science researchers, clinical laboratories, the pharmaceutical industry and the general public. BD is divided into three segments: BD Medical, BD Diagnostics and BD Biosciences. Becton Dickinson stock market evolution:

http://finance.yahoo.com/q?s=BDX

About Vincent Forlenza

Mr. Vincent A. Forlenza, also known as Vince, BD, has been the Chairman of Becton, Dickinson and Company since July 1, 2012, President since January 1, 2009 and Chief Executive Officer since October 1, 2011. Mr. Forlenza holds a Bachelor’s Degree in Chemical Engineering from Lehigh University and an MBA from the Wharton School of the University of Pennsylvania.

About CareFusion

CareFusion is a global, medical technology corporation that specializes in two areas: reducing medication errors and prevention of health care-associated infections. The company manufactures health care technologies, automated dispensing and patient identification systems, ventilators and respiratory products, skin prep products, infection surveillance, surgical instruments and a line of products that support interventional medicine. CareFusion stock market evolution:

http://finance.yahoo.com/q?s=CFN

About Kieran Gallahue

Kieran Gallahue is chairman and chief executive officer for CareFusion.
Kieran holds a bachelor’s degree in economics from Rutgers University and a master’s degree from Harvard Business School.

IBERIABANK Corp Acquires Florida Bank Group, Inc.

October 9, 2014 by Sabin Piso

IBERIABANK Corp strengthens its hold in the Tampa Bay area by merging with Florida Bank Group, Inc.

IBERIABANK Corp and Florida Bank Group, Inc. have announced the signing of a definitive agreement for IBKC to acquire Florida Bank Group through a merger. The proposed merger of Florida Bank Group with and into IBKC has been approved by the Board of Directors of each company and is expected to close in the first quarter of 2015.

Completion of the transaction is subject to customary closing conditions. This includes the receipt of required regulatory approvals and the Florida Bank Group’s shareholders approvals.

Susan Martinez, President and Chief Executive Officer of Florida Bank Group, has commented in an exclusive interview, “Our organization has undergone tremendous change and we are very proud of our people and the strong teamwork they exhibited over the last several years. We faced a very challenging operating environment and executed very well on our plan. I am particularly proud of our effective and efficient delivery of high-quality client service. We are very excited to be joining forces with IBERIABANK and together grow to become the leading financial institution serving our clients and communities.”

On the other hand, Daryl G. Byrd, President and Chief Executive Officer of IBKC, has commented, “Susie Martinez, her team, and the Florida Bank Group Board of Directors have done an outstanding job in rebuilding their organization and preparing for future client growth opportunities. We are very excited to be teaming up with them and entering the Tampa Bay market in such a high-quality manner. The Tampa Bay area has a very strong concentration of commercial and industrial companies, which is a segment of banking in which our company excels. With the addition of Florida Bank Group, we will extend our brand throughout the west coast of central and south Florida and into Jacksonville in northeast Florida.”

Florida Bank Group shareholders will receive a combination of cash and IBKC common stock. Common shares are assumed to total approximately 5,051,745 shares at closing, assuming approximately 2,471,745 common shares outstanding, approximately 2,480,000 common shares associated with the conversion of the convertible preferred stock into common shares, and 100,000 warrants outstanding that are assumed to be exercised prior to closing of the transaction.

The following considerations are expected when the transaction has been finalized:

Florida Bank Group shareholders shall receive cash equal to $7.81 per share of then outstanding Florida Bank Group common stock. This includes shares of preferred stock that will convert to common shares in the merger. Aggregate cash consideration is approximately $39.4 million.

Each Florida Bank Group common share will be exchanged for 0.149 share of IBKC common stock, subject to certain market price adjustments provided for in the merger agreement.

At September 30, 2014, Florida Bank Group had 374,400 unvested stock option shares outstanding with an exercise price of $7.74 per share. Florida Bank Group stock options and warrants that remain outstanding immediately prior to closing, whether or not vested, will be cashed out at consummation of the merger. Based on IBKC’s closing stock price on October 2, 2014, of $62.61, the cash value for optional shares would be $3.5 million.

IBKC’s capital ratios will be slightly reduced due to this merger and be less than 1% dilutive to tangible book value per share on a pro forma basis at closing. The tangible book value dilution is expected to be earned in a span of two years. The estimated internal rate of return for the transaction is expected to be greater than 20%.

A.L. Mijares

About Iberiabank

IBERIABANK Corporation is a financial holding company with offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida and representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners, L.L.C. office in New Orleans. IBERIABANK holds the #1 market share position along with a comprehensive retail, commercial, and private banking franchise. IBERIABANK ranks second in market share in Northeast Louisiana with an outstanding retail system and growing commercial and private banking presence. IBERIABANK stock market evolution:

http://finance.yahoo.com/q?s=IBKC

About Daryl G. Byrd

Mr. Daryl G. Byrd has been President and Chief Executive Officer at Iberiabank Corp. since July 2000 and July 1999 respectively. Mr. Byrd has been … a Director of Iberiabank Corp. and Iberiabank since 1999. He earned a Bachelor of Science degree in Business Administration from Samford University in 1976 and a Master of Business Administration degree from the University of Alabama at Birmingham in 1978.

About Florida Bank Group

Florida Bank Group, Inc. operates as the bank holding company for Florida Bank that provides commercial and retail banking services to businesses and individuals in the United States. It accepts various deposit products, including demand interest bearing and non-interest bearing accounts, money market deposit accounts, NOW accounts, direct deposits, and time deposit accounts. Florida Bank Group operates approximately 14 full service banking centers in the Florida counties of Hillsborough, Pinellas, Duval, Leon, Manatee, and St. Johns. It is headquartered in Tampa, Florida.

About Susan Martinez

Ms. Susan Martinez has been the Chief Executive Officer and President of Florida Bank Group, Inc. and Florida Bank since November 18, 2010 and also serves as its Director. Ms. Martinez served as the Senior Executive Vice President and President of Florida region at Regions Financial Corp. until December 31, 2007.

Medtronic, Inc. Announced Acquisition Plans for Covidien Plc

October 8, 2014 by Sabin Piso

Medtronic, Inc. expands medical services to treat more patients with Covidien Plc acquisition.

Medtronic, Inc. is a global leader in medical technology, medical services and solutions for various medical concerns. Today, the company announced its intention to use approximately $16 billion in external financing to acquire Covidien plc. Medtronic plans to fund its acquisition by using cash from its foreign subsidiaries which was previously planned. There will be no changes in the terms and conditions of the definitive agreement reached between the two companies that were created in June this year.

To fund the cash portion of the transaction, Medtronic intends to use new financing strategies that will be in place by closing of the transaction. Upon completion of the transaction, each outstanding ordinary share of Covidien will be converted into the right to receive $35.19 in cash and 0.956 of an ordinary share of Medtronic plc, the parent company of the new combined entity. This agreement was already in place when the two companies signed a definitive agreement in June of this year.

Omar Ishrak, Chairman and CEO of Medtronic mentioned in an exclusive interview “This proposed acquisition was conceived and undertaken for strategic reasons and is intended to create a company that can treat more patients, in more ways and in more places around the world.” Mr. Ishrak continued “We believe our combination will be uniquely positioned to help advance the goals of the Affordable Care Act in the U.S. as well as the objectives of virtually all health systems – to drive access to high-quality, affordable health care for patients around the world. Since the announcement of this transaction, we have worked closely with our Covidien colleagues to plan for the integration of these two leading companies, and we look forward to closing the transaction and realizing these strategic benefits.”

The new financing will incur new expenses for Medtronic however the benefits of the transaction remain compelling. The transaction is still expected to be accretive to Medtronic`s cash earnings in FY2016, the first full fiscal year, and significantly accretive thereafter. The acquisition is also expected to be neutral to GAAP earnings by FY2019 and accretive thereafter. The announcement of this acquisition today has no effect on the revenue outlook and earnings per share guidance. Medtronic expects the transaction to close in late 2014 or early 2015.

As stated in the June 15 transaction agreement, a new Irish holding company – Medtronic plc – will become the parent company of the new combined entity and will be included on the NYSE. The company will maintain principal executive offices in Ireland and will continue to have operational headquarters in Minnesota.

A.L. Mijares

About Medtronic, Inc.

Medtronic, Inc. has headquarters in suburban Minneapolis. It is the world’s fourth largest medical device company and is included in the Fortune 500. Medtronic operates in more than 140 countries. The company employs 49,000 people, including 5,800 scientists and engineers, pursuing research and innovation that has led to more than 28,000 patents. There are six main business units of Medtronic which develop and manufacture devices and therapies to treat more than 30 chronic diseases, including heart failure, Parkinson’s disease, urinary incontinence, Down’s syndrome, obesity, chronic pain, spinal disorders, and diabetes

The company remains focused on the mission originally written by co-founder Earl Bakken in the early-1960s. The first sentence of the six-paragraph mission statement reads: “To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.” Medtronic, Inc. stock market evolution:

http://finance.yahoo.com/q?s=MDT

About Omar Ishrak

Mr. Omar S. Ishrak has been the Chief Executive Officer and Chairman of Medtronic, Inc. since June 13, 2011. He is a Member of the Blood Center of Wisconsin. He is also on the Health Leadership Council of the Save the Children Foundation. Mr. Ishrak earned a Bachelor of Science and a PhD in Electrical Engineering from the University of London, King’s College.

About Covidien

Covidien Public Limited Company is an Irish-headquartered global healthcare products company. It manufactures medical devices and supplies. The company became an independent publicly traded company after being spun off from Tyco International in 2007. In 2011, Jose E. Almeida became the President and CEO of Covidien. In 2011, Covidien had more than 41,000 employees in 59 countries and its products are sold in more than 140 countries worldwide

In 2012, Covidien acquired three medical device companies in Israel: superDimension, a pulmonary endoscope developer was acquired for $350 million, ^Oridion Systems Ltd., capnography respiratory monitors and modules manufacturer was acquired for $346 million and PolyTouch, a developer of hernia mesh placement technologies was acquired for $30-40 million. In June 2014, Medtronic agreed to buy Covidien for $42.9 billion. Covidien stock market evolution:

http://finance.yahoo.com/q?s=COV

Berkshire Hathaway Will Purchase Van Tuyl Group

October 7, 2014 by Sabin Piso

Warren Buffet to Larry Van Tuyl- Create Berkshire Auto Unit

Berkshire Hathaway is acquiring Van Tuyl Group, the nation’s largest privately-owned auto dealership group. Van Tuyl Group ranks fifth among all U.S. auto dealership groups. Terms of the acquisition were not disclosed, but Warren Buffett mentioned on CNBC that revenue per year is around $9 billion.

After becoming a part of the Berkshire Hathaway family of businesses, Van Tuyl Group will be known as Berkshire Hathaway Automotive. The company will continue to be led by Larry Van Tuyl, who will become Chairman, and Jeff Rachor, who will assume the role of Chief Executive Officer. And together with its experienced senior management team, Berkshire Hathaway Automotive will be headquartered in Dallas, Texas and will continue to pursue its strategy of operational excellence and disciplined acquisition growth. It is also reported that there will be no change to the business model the company has successfully used for the past 62 years.

Warren Buffett, Berkshire Hathaway’s Chairman and Chief Executive Officer mentioned in an interview “The Van Tuyl Group fits perfectly into Berkshire Hathaway from both a financial and cultural viewpoint. Larry Van Tuyl along with his father, Cecil, spent decades building outstanding dealerships operated by local partners. In recent years, he has shared management with Jeff Rachor, a seasoned auto retailer who will retain a financial interest in all dealerships. The Van Tuyl Group enjoys excellent relations with the major auto manufacturers and delivers unusually high volumes at its 78 locations. This is just the beginning for Berkshire Hathaway Automotive.”

On the other hand Larry Van Tuyl, current Chief Executive Officer of the Van Tuyl Group also said in an interview “We are proud of all that has been accomplished with the support of our dealer partners, our employees and the manufacturers that we represent. We are very pleased to have one of the world’s most respected companies, Berkshire Hathaway, assume ownership of our company with the commitment to preserving our unique culture, business model and philosophy,” said. “I cannot think of a better steward to continue the legacy of what my father and I have built over the last 62 years, and I am confident this transaction will position the company on a course of continued success.”

The acquisition is expected to be completed in the first quarter of 2015. The transaction is subject to obtaining approvals from the major auto manufacturers as well as certain customary closing conditions. These will include various regulatory approvals.

A.L. Mijares

About Berkshire Hathaway

Berkshire Hathaway Inc. is an American multinational conglomerate holding company with headquarters in Omaha, Nebraska, United States. The company wholly owns GEICO, BNSF, Lubrizol, Dairy Queen, Fruit of the Loom, Helzberg Diamonds, FlightSafety International, and NetJets, owns half of Heinz and an undisclosed percentage of Mars, Incorporated, and has significant minority holdings in American Express, The Coca-Cola Company, Wells Fargo, and IBM. Berkshire Hathaway averaged an annual growth in book value of 19.7% to its shareholders for the last 49 years. According to the Forbes Global 2000 list and formula Berkshire Hathaway is the fifth largest public company in the world. Berkshire Hathaway stock market evolution:

http://finance.yahoo.com/q?s=BRK-B

About Warren Buffett

Warren Edward Buffett is an American business magnate, investor and philanthropist. He was the most successful investor of the 20th century. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway and consistently ranked among the world’s wealthiest people. He was ranked as the world’s wealthiest person in 2008and as the third wealthiest in 2011. In 2012 Time named Buffett one of the world’s most influential people.

About Van Tuyl Group

Van Tuyl Group, Inc. provides management consulting services. Their clients include the largest group of privately held automotive dealerships in the United States. Van Tuyl Group has offices in Arizona, Kansas, and Texas. It’s the management consulting group that has approximately 70 independently operated dealerships all over the US.

The Van Tuyl family has had a long history with the automotive industry. This started with Cecil Van Tuyl that led a Kansas City Chevrolet dealership in 1955. She was later joined by his son Larry in 1971; together they have built a world class management consulting company based on the principles of hiring the right people and giving their dealership clients the right tools, training and support they need to succeed.

About Larry Van Tuyl

Mr. Larry Van Tuyl is the president of the Van Tuyl Group, Inc. It provides management consulting services to automotive dealerships in Arizona, California, Florida, Georgia, Illinois, Indiana, Missouri, Nebraska, New Mexico, and Texas. Its services include call measurement solutions, insurance coverage for vehicles, automotive fluid maintenance, and supply chain optimization. The company was founded in 1955 and is based in Irving, Texas with additional offices in Phoenix, Arizona; and Merriam, Kansas.

Enterprise Products Partners Acquires Oiltanking Partners

October 6, 2014 by Sabin Piso

Enterprise Products Partners strengthens crude oil and natural gas dominance with Oilantking Partners purchase.

Enterprise Products Partners has recently announced that the company has acquired the general partner and related incentive distribution rights, 15,899,802 common units and 38,899,802 subordinated units in Oiltanking Partners L.P. held by Oiltanking Holding Americas, Inc.

Enterprise has was reported to have a total consideration of approximately $4.41 billion to Oiltanking Holding and this is comprised of $2.21 billion in cash and 54,807,352 Enterprise common units. It has also been reported that Enterprise has also paid $228 million to assume notes receivable issued by Oiltanking Partners.

Upon the payment of the Oiltanking Partners’ distribution along with the third quarter of 2014, ordination period with respect to the Oiltanking Partners subordinated units will end.

Enterprise submitted a proposal to the conflicts committee of the general partner of Oiltanking Partners to merge Oiltanking Partners with and into Enterprise. Under the terms of the proposal, Enterprise would exchange 1.23 Enterprise common units for each Oiltanking Partners common unit. This proposed consideration represents an at-market value for Oiltanking Partners common units based upon the volume weighted average trading prices of Oiltanking Partners and Enterprise on September 30, 2014. The total consideration for this proposal would be $1.4 billion. The total consideration for step 1 and step 2, as proposed, would be approximately $6.0 billion.

Michael A. Creel, chief executive officer of the general partner of Enterprise said in an exclusive interview “We are pleased to announce this two-step transaction that would result in the merger of Oiltanking Partners into Enterprise.” Mr. Creel also mentioned “We have had a strategic relationship and enjoyed mutual growth with Oiltanking Partners and its predecessors since 1983. The combination of Enterprise’s system of midstream assets and Oiltanking Partners’ access to waterborne markets and crude oil and petroleum products storage assets would extend and broaden Enterprise’s midstream energy services business. This combination would benefit our producing and consuming customers by enhancing their respective access to supplies, domestic and international markets, and storage.”

Mr. Creel finally mentioned “We believe there would be three principle avenues for long-term value creation from the merger of Oiltanking Partners into Enterprise: (1) at least $30 million of synergies and cost savings from the complete integration of Oiltanking Partners’ business into Enterprise’s system; (2) opportunities for new business and repurposing existing assets for ‘best use’ to meet the growing demand for export and logistical services for petroleum products related to the increase in North American crude oil, condensate and NGL production from the shale and non-conventional plays; and (3) securing ownership and control of Oiltanking Partners’ assets that are essential to our midstream business. We believe the acquisition of Oiltanking Partners would be accretive to Enterprise’s distributable cash flow per unit beginning in 2016,”

Enterprise believes that this acquisition will be very attractive to public holders of Oiltanking Partners common units. This would allow Oiltanking Partners unitholders to participate in the future growth of Enterprise’s businesses (including Oiltanking Partners’ existing business), the company’s substantial backlog of capital projects and access to a much larger, more diversified asset base. It would also allow Oiltanking Partners unitholders to benefit from Enterprise’s flexibility of its financial investments, high investment grade credit rating and easy access to capital markets.

The transaction was based on a proposed exchange rate, public unitholders of Oiltanking Partners would each get a 70 percent increase in cash distributions based on the respective cash distributions per unit paid by Enterprise and Oiltanking Partners in August 2014 which is also based on the second quarter of 2014. As of the time being, Enterprise does not intend to comment further on discussions unless and until a definitive agreement is reached. Details of definitive agreement between the two companies will be delivered soon

A.L. Mijares

About Enterprise Products Partners

Enterprise Products Partners L.P. is an American natural gas and crude oil pipeline company headquartered in Houston, Texas. Oiltanking Partners owns marine terminals on the Houston Ship Channel and the Port of Beaumont with a total of twelve ship and barge docks and approximately 24 million barrels of crude oil and petroleum products storage capacity on the Texas Gulf Coast. Enterprise Products Partners stock market evolution: http://www.bloomberg.com/quote/EPD:US

About Michael A. Creel

Mr. Creel was elected CEO and a director of Enterprise GP in November 2010 and served as President of Enterprise GP from November 2010 until February 2013.

About Oiltanking Partners

Oiltanking Partners is a publicly-traded master limited partnership engaged in independent storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas. The company provides services to a variety of customers, including major integrated oil companies, distributors, marketers and chemical and petrochemical companies. Oiltanking Partners stock market evolution: http://finance.yahoo.com/q?s=OILT

News Corp Acquires Move Inc. Leading Online Real Estate Company

October 5, 2014 by Sabin Piso

News Corp will strengthen its global and digital presence with the acquisition of Move Inc.

News Corp and Move, Inc. have announced that News Corp has agreed to purchase Move, Inc. is a specialist in online real estate business that brings consumers and realtors together and to facilitate sale or rental properties in the United States.

Move displays more than 98% of all for-sale properties listed in the US through realtor.com® and its mobile applications. These properties are directly from relationships with more than 800 Multiple Listing Services. Through this method Move has the most up-to-date and legit listings of any online real estate company in in the US. The Move Network reaches about 35 million people per month.

The transaction has been unanimously approved by the board of directors of Move. News Corp is set to acquire all the outstanding shares of Move for $21 per share, or approximately $950 million through an all-cash tender offer. News Corp also plans to create a tender offer for all of the shares of common stock of Move within 10 business days. Afterwards this will be followed by a merger to acquire any untendered shares.

Robert Thomson, Chief Executive of News Corp mentioned in an interview “This acquisition will accelerate News Corp’s digital and global expansion and contribute to the transformation of our company, making online real estate a powerful pillar of our portfolio.” He added “We intend to use our media platforms and compelling content to turbo-charge traffic growth and create the most successful real estate website in the US. We are building on our existing real estate expertise and expect to leverage the potential of Move and its valuable connections with Realtors® and consumers around the country.”

Mr. Thompson also added in an exclusive interview “In addition to boosting Move’s subscription, advertising and software services, this acquisition will give News Corp a significant marketing platform for our media assets, which will benefit from the high-quality geographic data generated by real estate searches.” He also commented “We certainly expect this deal to amount to far more than the sum of the parts.”

On the other hand, Steve Berkowitz, Chief Executive Officer of Move explained in an interview “News Corp’s acquisition of Move speaks powerfully to the quality and value of our content, audience and industry relationships.” Mr. Berkowitz added “We provide people with the information, tools and professional expertise they need to make the best and most informed real estate decisions, and we work to uphold the indispensable role of the professional in the real estate experience. News Corp shares our vision, which is one of the many reasons this combination is such good news for our customers, consumers and the industry as a whole.”

For the year ended December 31, 2013, Move reported $227 million in revenues, and $29 million in adjusted EBITDA5. The company has also generated the highest revenue per unique user in the industry. Move will become an operating business of News Corp but will continue to be headquartered in San Jose, California.

“We have great faith in America’s potential and the long-term asset value of housing, which is continuing its recovery and has yet to regain its full potency,” said Mr. Thomson. “It is forecast that the number of Millennial households will increase from 13.3 million in 2013 to 21.6 million in 2018, and they will spend more than $2 trillion on home purchases and rent by 20187. Many will begin their search online and use tools and content on realtor.com®. Buying a home is the most important investment decision any family will make.”

News Corp acquisition of Move, Inc. is subject to the satisfaction of customary closing conditions, including regulatory approvals and a minimum tender of at least a majority of the outstanding Move shares. It is expected to close by the end of calendar year 2014.

A.L. Mijares

About News Corp

News Corporation is an American multinational mass media company, formed as a spin-off of the former News Corporation focusing on newspapers and publishing. It is one of two companies which succeeded the former News Corp, together with, which consists of the old News Corporation’s broadcasting and media. New Corp stock market evolution: http://www.marketwatch.com/investing/stock/nws

About Robert Thompson

Robert James Thomson Dellor is an Australian journalist and the Chief Executive of News Corp, a role he assumed in January 2013. He is the former managing editor of the Wall Street Journal and is former editor of The Times newspaper in London. On 20 May 2008 News Corp. Chairman Rupert Murdoch named Thomson as the paper’s new managing editor, succeeding Marcus Brauchli.

About Move Inc.

Move, Inc. is a real estate web site, which operates the Move Network of real estate web sites for consumers and real estate professionals. The Move Network of web sites captures more than 15 million monthly visitors. The Move, Inc. is headquartered in San Jose, California. Move, Inc. It maintains offices in Scottsdale, Arizona, Westlake Village, California and Richmond, British Columbia, Canada. Move, Inc stock market evolution: http://www.marketwatch.com/investing/stock/move

About Steve Berkowitz

Steven Berkowitz is the CEO of Move, Inc. After serving on the board of directors of Move, Inc. for nearly a year Steve was selected by the board to succeed Michael Long to serve as the company’s CEO. He has a Bachelor’s degree from the State University of New York.

Encana to Acquire Common Stock Shares of Athlon Energy

October 3, 2014 by Sabin Piso

Encana and Athlon Energy announces $7.1 billion acquisition of Encana of shares of common stock of Athlon Energy.

Encana and Athlon Energy Inc. jointly announced that the two companies have decided into a merger agreement for Encana to purchase all of the issued and outstanding shares of common stock of Texas-based Athlon by means of an all-cash tender offer for US$5.93 billion which has been valued at US$58.50 per share. The transaction also mentions Encana assuming Athlon’s US$1.15 billion of senior notes, for a total transaction value of approximately US$7.1 billion. The board of directors of Athlon has unanimously recommended that their shareholders agree with the offer.

Doug Suttles, Encana President & CEO mentioned in an exclusive interview “This transformative acquisition further accelerates our strategy and provides us with a prime position in what is widely acknowledged as one of North America’s top oil plays.” He added “The Athlon team has built an exceptional asset with massive running room that includes greater than 10 years of drilling inventory with up to 11 potential productive horizons of high-margin liquids.”

Bob Reeves, Chairman, President & CEO of Athlon has commented in an interview “With a commitment to excellence and an unwavering focus on results, the Athlon team has established a track record of acquiring high-quality assets, applying extensive technical expertise as a top-tier operator and creating tremendous value for our shareholders.” He also added “Through tireless dedication and hard work, our team has built a high rate-of-return oil manufacturing process in the heart of the world-class Midland Basin. With Encana’s exceptional resources and the collective expertise of both teams, the next phase will accelerate development and ultimately realize the full potential of the deep inventory of premier projects.”

Encana estimates that this transaction will improve its current production of about 30,000 barrels of oil equivalent per day based on Athlon’s current estimated production including recent acquisitions. The company understands the potential of the transaction with approximately 5,000 horizontal well locations. Each location has an amazing potential recoverable resource at approximately 3 billion barrels of oil equivalent.

Encana has a target of 75 percent of operating cash flow from liquids production to be finished in 2017 but with this acquisition it looks like this will be finished in 2015. In the past year, the company has significantly developed it portfolio through natural gas-weighted assets and the acquisition and development of higher-margin oil and natural gas liquids opportunities.

Suttles has also mentioned in his interview “We’re delivering on the portfolio promises we made for 2017, today.” He added “We believe this acquisition, when combined with other recent portfolio changes, is highly accretive to our long-term cash flow per share projections and our goal of sustainably growing shareholder value. Our portfolio now aligns with our vision of being a leading North American resource play company. Our growth areas now include the top two resource plays in Canada, the Montney and Duvernay, and the top two resource plays in the United States, the Eagle Ford and the Permian.”

The acquisition of Encana stocks has been unanimously approved by the board of directors of both Encana and Athlon. The board of directors of Athlon has also recommended that its shareholders tender their shares to the Offer. Subject to certain conditions, Athlon’s senior management, as well as funds affiliated with Apollo Global Management, LLC (NYSE: APO) have agreed to tender their respective shares to the Offer, which on a combined basis represents approximately 35.8 percent of Athlon shares on a fully diluted basis.

A.L. Mijares

About Encana Corporation

Encana Corporation is an oil company that produces, transports and markets natural gas, oil and natural gas liquids. It is headquartered in Calgary, Alberta. In Canada, Encana has onshore operations in Alberta, northeast British Columbia and an offshore development off the coast of Nova Scotia. Encana’s subsidiary operates in Colorado, Wyoming, Texas, and Louisiana. Encana Corporation stock market evolution: http://www.nasdaq.com/symbol/eca

About Doug Suttles

Doug Suttles is the president and chief executive officer of Encana Corporation. Mr. Suttles has a degree in BSc in Mechanical Engineering from the University of Texas at Austin. He joined the global oil and gas industry in 1983. On June 11, 2013, Suttles was appointed President & CEO of Encana Corporation.

About Athlon Energy

Athlon Energy is an independent exploration and production company, headquartered in Fort Worth, Texas, focused on the acquisition, development and exploitation of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. Athlon Energy stock market evolution: http://finance.yahoo.com/q?s=ATHL

About Bob Reeves

Robert C. Reeves is Athlon’s chairman, president, and CEO. Prior to Athlon’s formation, Reeves was senior vice president, chief financial officer and treasurer of Encore Acquisition Co. and Encore Energy Partners. Mr. Reeves received his Bachelor of Science degree in accounting from the University of Kansas.

Telekomunikasi Indonesia Acquires 75% of Contact Centres Australia

October 2, 2014 by Sabin Piso

Telekomunikasi Indonesia strengthens BPO industry in Australia with the acquisition of Contact Centres Australia.

PT. Telekomunikasi Indonesia, Tbk. along with its subsidiary Telekomunikasi Indonesia International Australia Pty. Ltd or Telkom Australia has announced its 75% acquisition of Contact Centres Australia Pty. Ltd. Contact Centres Australia is a Sydney based company that operates a Business Process Outsourcing. This is a deal worth AUD$11 million.

Contact Centres Australia is a privately owned company by Ben Crabbe, Sue Crabbe and Peter Thomson. It is one of the nation’s leading BPO operators with over 600 staff working with leading edge contact technology solutions. Contact Centres Australia is the owner of 2 subsidiary companies in Financial Information Service Pty. Ltd in Sydney, Australia and Contact Centres New Zealand Ltd in Wellington, New Zealand.

The acquisition is said to be a milestone in Telkom’s international expansion program. The company plans to achieve its objective of establishing Telkom as a global force in Telecommunication, Information, Media, Edutainment and Services, according to TIMES. The program witnessed Telkom develop subsidiaries in key markets around the world with the use of global partnerships and through local mergers & acquisitions. This acquisition improves Telkom’s presence in Australia. The company has a driving force in the world of telecommunications in in Melbourne, Victoria since 2013.

Siam Nugraha, Telkom Australia’s CEO said in an interview “After reviewing many investment targets in Australia we were impressed with the quality of Contact Centres Australia’s management, people and systems. We intend to work with the CCA team to invest in the company’s ability to grow in the Australian and New Zealand market as well as export the way they do business to our other BPO operations in Indonesia. We are thrilled to make the announcement today and look forward to working closely with such a great team”.

Contact Centres Australia started in 2002 with services like BPO solutions to corporate clients. Companies that trust Contact Centres Australia are the following: Colgate, Rio Tinto, Pfizer Australia and Yellow Brick Road as well as many not-for-profit groups. Ben Crabbe Contact Centre Australia CEO comments, “Over the past 12 years we have focused on building the best quality BPO in Australia. Great people, who enjoy being on the phone and are supported by exceptional systems and backup. We think we’ve created something very special, as do Telkom Indonesia. We are very pleased with this new partnership and the opportunity to scale the business even further.”

The acquisition that was announced today is the result of several months of discussions between Jakarta and Sydney. The two companies’ founding partners and management team decided that they will all remain within the business, which will continue to trade as Contact Centres Australia.

A.L. Mijares

About Telkom Indonesia

PT Telekomunikasi Indonesia, Tbk. is considered the largest telecommunications and network provider in Indonesia. The company serves millions of customers all over Indonesia. It provides a broad range of network and telecommunication services, which includes domestic and international basic telecommunication services, with the use of cable and Global System for Mobile Communication as well as through interconnection services used among other license operators, directly or through subsidiaries. Telkom Indonesia has widened its business portfolio to encompass TIMES – Telecommunications, Information, Media, Edutainment and Services. The company has a firm commitment for reliable, secure connectivity and data mobility has enabled the increase of total customer base to 164 million customers as per December 31, 2013.

The company has a firm goal to fulfill its vision to become a major player in the Telecommunication, Information, Media, Edutainment, and Services (TIMES) industry at regional levels. Telkom Indonesia has plans to broaden its business through Telkom International Expansion program. Currently, Telkom Indonesia has already expanded to Singapore, Hong Kong, Timor Leste, Australia, Malaysia, Taiwan, Macau, Myanmar, and USA. Telkom Indonesia stock market evolution:

http://www.marketwatch.com/investing/stock/tlk

About Telkom Australia

Telkom Australia is the subsidiary of Telkom Indonesia. It is the biggest state-owned telecommunication company. Telkom Australia business line is all about providing Business Process Outsourcing, Information Technology Outsourcing, and Telecommunication Services.

About Siam Nugraha

Siam Nugrahais the Chief Strategy Officer of Telekom Australia. He is an expert in project management in a variety of global contact centre projects. He has a keen understanding of business processes, contact center implementation projects and computer telephony integration system which could all in all help sound understanding of customer requirements in the BPO industry.

About Contact Centres Australia

Contact Centres Australia is an Australian-owned operation based in Surry Hills, Sydney. The company delivers a comprehensive range of BPO solutions. It can integrate these with other kinds of fulfillment services to be able to create a complete end-to-end solution. The company has a goal and that is to build solid business relationships by promoting transparency in its operations on all levels of the business. And finally it aims provides clients with unlimited access to the call centre and access to detailed records and data.

Western Refining Drops Southwest Business to Western Refining Logistics

October 1, 2014 by Sabin Piso

Western Refining Inc. fetches $360 million in a master limited partnership transaction with Western Refining Logistics.

Western Refining Inc. has announced that it has committed to an agreement to drop down the company’s southwest wholesale business to its master limited partnership (MLP) unit, Western Refining Logistics, LP. The deal will fetch about $360 million for the oil refiner and marketer. This transaction will be made of cash and Western Refining Logistics units.

The assets under sale have fuel sales of about 79,000 barrels per day dedicated to Western Refining as well as to other third-party customers. Western Refining’s southwest wholesale business is not just about fuel but it also includes a lubricant products distribution business and crude oil trucking operations. This is located in the Permian and San Juan basins.

Details of the transaction were provided by both parties. Western Refining and Western Refining Logistics intend to sign a 10-year fuel supply and crude oil trucking agreement. The southwest wholesale business has an expected 2015 earnings before interest, taxes, depreciation and amortization (EBITDA) of about $40 million.

Jeff Stevens WNRL and WNR President and Chief Executive Officer mentioned in an interview, “We are committed to delivering consistent distribution growth to WNRL unit holders and this first acquisition is the next step in fulfilling that commitment. The wholesale drop down should provide a significant increase in EBITDA for WNRL. Western’s wholesale business has a long history of delivering profitable results and this transaction unlocks the value of that business and provides cash to WNR for future growth opportunities. This is a very positive step for the continued success of both organizations.”

WNR’s Board of Directors and the Board of Directors of the general partner of WNRL and its Conflicts Committee approved the terms and conditions of the transaction. The Conflicts Committee was advised by Bracewell & Giuliani, its legal counsel, and Evercore Partners, its financial advisor. WNR was advised by Vinson & Elkins LLP, its legal counsel.

Management mentioned that the drop down of assets should increase the partnership’s EBITDA, which should allow Western Refining Logistics to maintain its distribution growth. Western Refining is an independent refiner and marketer of refined petroleum products in the Southwestern and Mid-Atlantic regions of the U.S.

Western Refining Logistics on the other hand is a fee-based MLP that owns logistics assets. It is involved in terminalling, transportation and storage of crude oil and refined products. Western Refining owns general partner, along with 65% of the limited partnership interest in the partnership. Both Western Refining and Western Refining Logistics carry a Zacks Rank #3 which means that both the companies are expected to perform in line with the broader U.S. market in the next one to three months.

A.L. Mijares
About Western Refining Inc.

Western Refining Company, L.P. is a Texas-based Fortune 300 crude oil refiner and marketer operating in the Southwestern, North-Central and Mid-Atlantic regions of the United States. Western Refining has been publicly traded on the New York Stock Exchange since January, 2006 and ranks as the fourth largest publicly traded independent refiner and marketer in the nation.

Western Refining Company is headquartered in El Paso, Texas; its refineries are located in El Paso, Gallup, New Mexico and St. Paul Park, Minnesota. With a combined crude oil processing capacity of approximately 242,500 barrels per day (38,550 m³/d), it is one of the major players in the oil industry in the Southwest and Mid – Atlantic regions. These refineries produce light products, consisting of gasoline, diesel fuel, and jet fuel. The El Paso refinery delivers to a number of other markets with the use of a pipeline. Western Refining has a wholesale division that works in conjunction with the refining operations. Western Refining therefore serves a broad customer base in Arizona, California, Colorado, Minnesota, Nevada, New Mexico, western Texas, Utah, Wisconsin, northern Chihuahua, Mexico, and the central East Coast region. Western Refining Company stock market evolution:

http://www.marketwatch.com/investing/stock/wnr

About Western Refining Logistics

Western Refining Logistics is headquartered in El Paso, Texas. It is a fee-based, growth-oriented Delaware limited partnership recently formed by Western Refining to own, operate, develop, and acquire terminals, storage tanks, pipelines, and other logistics assets. Western Refining Logistics’ assets consist of pipeline and gathering assets and terminalling, transportation, and storage assets in the Southwestern portion of the U.S. This includes 300 miles of pipelines and around 7.9 million barrels of active storage capacity together with a number of other assets. Western Refining Logistics stock market evolution:

http://www.marketwatch.com/investing/stock/wnrl

About Jeff Stevens

Mr. Jeff A. Stevens has been the President at Western Refining, Inc. since February 2009 and has been its Chief Executive Officer since January 2010. Mr. Stevens serves as the Chief Executive Officer and President of Western Refining Terminals, Inc., Giant Four Corners, Inc., Giant Stop-N-Go Of New Mexico, Inc., Western Refining Yorktown Holding Company, Western Refining GP, LLC, and San Juan Refining Company.

EMC Corporation Looking for “Merger of Equals” in Dell and HP

September 30, 2014 by Sabin Piso

EMC data storage and information security giant eyes Dell and Hewlett-Packard to sell of share in VMware.

EMC is not just looking for a company to sell off its share in VMware; it is actually eyeing for a “merger of equals” with complementary companies which including Dell and Hewlett-Packard. Technology experts say that if such a deal happens, it will reshape the technology landscape and possibly lead to disruptions in the channel.

EMC is under pressure resulting in the actions of Elliott Management to return more value to its shareholders. This pressure has resulted in the company reportedly shopping for a merger for its 80 percent stake in VMware to other companies.

It was a financial headline in the past few days that EMC, which has an estimated value of $60 billion, has been thinking of the potential of merging with similar-sized and complementary companies. These companies are HP and Dell. The intent was said to create a company with greater technology capabilities than the sum of any two parties’ respective parts.

However none of the companies involved, including HP and EMC are commenting officially despite actual updates of talks and between the two companies. According to published reports, the said merger would be an all-stock trade. In this merger the shareholders of the respective sides would receive corresponding shares of the two companies equal to the deal’s valuation. But reports actually say that talks between HP and EMC broke down due to a failure to reach an acceptable price.

A cross between HP and EMC would be a technology that generates more than $130 billion a year. Reports also say that it will hold a market valuation of nearly $100 billion. HP is by far the largest server vendor in the world and is considered as the second-largest network gear vendor. But despite significant storage assets, it is behind rivals EMC, NetApp, and Dell. Therefore a merger would create a massive infrastructure company which will be strengthened by VMware’s market-leading virtualization portfolio. HP could also gain significant security assets, as EMC owns RSA Security. RSA is the leader in encryption, authentication, and identity management solutions. These amazing technologies would definitely improve and complement HP’s existing firewall, intrusion prevention, and security information management tools.

EMC and Dell would create a new storage powerhouse. This is combining Dell’s EqualLogic and Compellent assets with EMC’s deep storage portfolio. Dell is a leader in servers, which would definitely enrich EMC’s storage offerings. And Dell has significant storage assets that will benefit a lot with the addition of RSA.

Dell or HP plus EMC will significantly affect the industry and cause significant portfolio and channel disruptions. And of course merging two large companies will take a long time and tremendous resources. Joining of products, operations, and channel programs will cause significant disruptions in the channel. Some acquisitions could even take two or more years to translate into channel consolidation. Experts also point out that the channel is replete with examples of how the channel consolidation process alienates partners, causes sales attrition because of a customer base that doesn’t want to follow the merger. The results are potential lost products and incentives.

But of course, given the nature of the merger reports, it may be too early to tell if the talks will indeed materialize into a merger. But the potential of an EMC merger with a rival speaks volumes about the shifting market dynamics and the necessity of consolidating technologies, costs, supply chains, and channels. If EMC does merge with a similar-sized company, the merger could cause mega-mergers in the technology industry, and this will ripple through the channel.

A.L. Mijares

About EMC:

EMC Corporation is an American multinational corporation with headquarters in Hopkinton, Massachusetts, United States.EMC provides data storage, information security, virtualization, analytics, cloud computing and other products and services. These enables businesses to store, manage, protect, and analyze data. EMC’s target markets include large companies and small- and medium-sized businesses across various vertical markets. The company has 60,000 employees and is considered the world’s largest provider of data storage systems competing against NetApp, IBM, Hewlett-Packard, and Hitachi Data Systems. EMC stock market evolution:

http://finance.yahoo.com/q?s=EMC

About Hewlett- Packard

Hewlett-Packard Company or HP is an American multinational information technology corporation with headquarters in Palo Alto, California, United States. It develops hardware, software and services to consumers, small- and medium-sized businesses and large enterprises, including customers in the government, health and education sectors. HP stock market evolution:

http://finance.yahoo.com/q?s=HPQ

About Dell

Dell Inc. is an American privately owned multinational computer technology company headquartered in Round Rock, Texas, United States. Dell develops, sells, repairs and supports computers and related products and services. The company is one of the largest technological corporations in the world, employing more than 103,300 people worldwide. Dell also sells personal computers, servers, data storage devices, network switches, software, computer peripherals, HDTVs, cameras, printers, MP3 players and also electronics built by other manufacturers.