Archbrook Capital Management has acquired a majority stake in Tray-Pak Corp., a Reading, Penn-based manufacturer of custom thermoformed plastic packaging products. No financial terms were disclosed.
Platinum Equity has agreed to acquire Pomeroy IT Solutions Inc. (Nasdaq: PMRY), a Hebron, Ky.-based provider of IT services. The deal is valued at approximately $65 million, or $6.50 per share of Pomeroy common stock. Houlihan Lokey is advising Pomeroy on the transaction.
MADRID (Reuters) – Spanish media group Prisa (PRS.MC) has agreed a deal worth around $362 million to sell 25 percent of its book publishing arm, Santillana, to a Credit Suisse (CSGN.VX) private equity fund, as part of a plan to slash debt. Prisa said on Monday it planned to sell the stake in Santillana — […]
American Securities has agreed to acquire GenTek Inc. (Nasdaq: GETI), a Parsippany, N.J.-based maker of inorganic chemical products and valve actuation systems and components for automotive and heavy-duty engines. The deal is valued at approximately $673 million (including $262m of assumed debt and liabilities), with GenTek stockholders to receive $38 per share (40.7% premium to Friday's closing price). Moelis & Co. is serving as financial advisor to GenTek.
AMSTERDAM (Reuters) – Belgian drugs, chemicals and plastics maker Solvay (SOLB.BR) said on Monday it would sell its drugs unit to U.S. partner Abbott Laboratories (ABT.N) for 4.5 billion euros ($6.6 billion) in cash and reinvest in chemicals and plastics. Abbott had agreed to buy the unit to bolster its flagging prescription drug business by […]
FRANKFURT (Reuters) – German industrial conglomerate Evonik said it has agreed in principle to sell its specialty chemicals unit Alzchem to German buyout group Bluo amid an ongoing strategic review. Alzchem — whose products range from ingredients for pesticides and fertiliser to additives for cosmetics and food — has a staff of about 1,300. Evonik’s […]
Christopher Heckscher has joined Standard Life Investments as senior vice president of U.S. credit. He previously spent 14 years with Wellington Management. PRESS RELEASE Standard Life Investments, the global fund manager, has enhanced its ability to deliver global credit management with the appointment of Christopher Heckscher as Senior Vice President, US Credit. Christopher joins from […]
MELBOURNE (Reuters) – Myer, Australia’s largest department store chain, plans to raise up to $2 billion in a share offering that will test investor appetite for new equity as the global economy shows signs of recovery. Myer will be the largest listing on the Australian Stock Exchange since the third tranche of telecoms firm Telstra […]
LONDON (Reuters) – British fashion retailer New Look is interested in returning to the London stock market, but the earliest this is likely to happen is spring 2010, a source close to the matter said on Sunday. The source, responding to press reports that New Look might float as soon as January, said that if […]
CHICAGO (Reuters) – Time Warner Inc (TWX.N) will eventually sell the Time Inc magazine unit and could buy holdings in its core entertainment category, Gordon Crawford, managing director of its largest shareholder, said during a presentation this week. “Time Warner just spun off their cable division, they are going to sell their print division, they […]