3i Group PLC’s Trescal portfolio company plans to acquire Dynamic Technology Inc., a Detroit, Mich.-based company that offers calibration and repair services of test and measuring equipment. The deal allows Trescal to enter the U.S. market. Trescal provides calibration services.
Activist investor Starboard Value LP said in a regulatory filing on Friday that it planned to vote in favor of the $4.7 billion offer for Smithfield Foods Inc by China's Shuanghui International, saying it has not been able to line up an alternative proposal ahead of a meeting next week, Reuters reported.
Beer maker Foster's Group rejected a $10.1 billion cash takeover offer from SABMiller – saying the bid was too low, Reuters reported. Investors predict, however, that the Australian brewer would succumb to a slightly higher offer, Reuters added. Foster’s, which has a 50% market share in Australia, has been the subject of takeover talk since it announced plans last year to spin off its struggling wine operations.
Molson Coors Brewing Co. and Mexico's Grupo Modelo may make a joint bid for Australian brewer Foster’s Group, according to a report from Reuters. Bank of America and Deutsche Bank are reportedly helping Molson and Modelo devise financing for a possible offer. Foster’s has been the subject of buyout speculation since it revealed plans to spin-off its struggling wine business last year.
Australian brewing company Foster’s Group will vote April 29 on the proposed spin-off of its wine unit – a business with net assets of about $2.8 billion, Reuters said. The beer and wine businesses are both expected to attract private equity firms as well as trade buyers, Reuters said. Foster’s turned away buyout shop Cerberus Capital last September, when it offered $2.5 billion for the wine business.
(Reuters) – Two of the world’s biggest private equity firms, Kohlberg Kravis Roberts & Co (KKR.N: Quote, Profile, Research, Stock Buzz) and TPG TPG.UL, are potentially interested in Foster’s (FGL.AX: Quote, Profile, Research, Stock Buzz) wine business, but they are not currently working on rival bids, sources told Reuters. Foster’s, Australia’s largest brewer, this week […]
French cheese maker Bel is considering acquiring PAI Partners SAS’s 50 percent stake in yogurt-maker Yoplait, Reuters reported citing Le Figaro newspaper. Le Figaro disclosed the development on Wednesday without identifying its sources. Farming cooperative Sodiaal owns the other hald of Yoplait.
Grammy award winner Pharrell Williams, lead singer of N.E.R.D., will join KarmaLoop TV as a creative director. KarmaLoop, which has one of the most widely-viewed YouTube channels online, is backed in part by VC firm Insight Venture Partners.
San Mateo, Calif.-based Appirio has named Mark O’Connor Chief Financial Officer. The news comes after Appirio’s $60 million venture funding round led by General Atlantic. O’Connor joins from Nuance Communications where he served in the office of the CEO as chief of staff and vice president of operations. PRESS RELEASE Appirio, a technology-enabled services provider […]
Leeds Equity Partners LLC is merging four companies to focus exclusively on information and compliance solutions. The New York private equity firm said December 7 that it simultaneously acquired BLR, DecisionHealth, Argosy and CCMI. Financial terms of the deal, which closed this week, weren't announced. UCG Holdings LP of Gaithersburg, Maryland, has sold all its stakes in DecisionHealth, Argosy and CCMI, said Jeffrey Leeds, president and co-founder of Leeds Equity. Argosy is the parent of PE Hub-PE Hub Canada and Buyouts Insider, publisher of this report.
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