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[Commentary] ©2000 Phil Hyde, The Timesizing Wire, Box 622, Cambridge MA 02140 USA (617) 623-8080 - Homepage


Mergers&Acquisitions - Oct-Nov, 2000

11/30/2000  5 takeovers reported, worth $2.026B + $undisclosed -
  1. [B.F.] Goodrich sells chemicals unit for $1.4B [to a group led by AEA Investors], AP via NYT, C4.
  2. Finning [International of Canada] to buy Hewden Stuart [of Britain] for $458m and debt [- so 458+96= $554m total], Bloomberg via NYT, C4.
  3. Investors Financial [Services, for $42m,] buying Chase [Manhattan's National Consumer Services] unit, Bloomberg via Boston Globe, C9.
  4. PictureTel sells most of MultiLink [to Spectel of Dublin for 26+4= $30m], Dow Jones via Boston Globe, C9.
  5. Aramark [to buy Wackenhut's Correctional Foodservice Management division for $??], NYT, C4.
11/29/2000  4 takeovers reported, worth $959m + $undisclosed -
  1. Broadcom to acquire an Israeli chip maker [VisionTech, for $770m], by Laura Holson, NYT, C4.
  2. Nomura [Securities] will acquire record-keeping business in Wales [Hyder Business Services, for $142m]
  3. AmBev [of Brazil] acquires brewer [Cerveceria y Malteria Paysandu of Uruguay, for $47m]
  4. Paul Allen investment fund [Vulcan Ventures] buys sports radio chain [One-On-One Sports, for $??]
11/28/2000  12 takeovers reported, worth $1.8693B + $$undisclosed -
  1. Lafarge sells [67% stake in] paint unit [for $672m to 3 buyout firms: Advent International, CVC Capital Partners & Carlyle Group], Bloomberg via NYT, W1.
  2. Agilent [Technologies] to aquire [sic] Objective Systems [Integrators for $665m], by Laurie Flynn, NYT, C4.
  3. Rational Software grows [by buying for $405m the 65% of Catapulse it didn't already own], Bloomberg via NYT, C2.
  4. Cambior Inc. [of Montreal will sell its 100% of Granja copper project in Peru to Billiton PLC for $35m], NYT, C4.
  5. Cordiant [Communications in London] make[s] acquisition [of 80% of InterCom Management in Germany for $32m], by Stuart Elliott, NYT, C10.
  6. Corillian Corp. [bought Hatcher Associates for $24m], NYT, C4.
  7. Bristol-Myers Squibb Co.['s Bristol-Myers Squibb Holdings division will buy Transworld Healthcare's British unit, Amcare, for $14.2m], NYT, C4.
  8. InsWeb to buy a Quicken unit [Intuit's QuickenInsurance business for $12.3m], Bloomberg via NYT, C4.
  9. Unable to deliver [despite (or because of?) its $9.8m acquisition of Infinity Logistics and Automated Logistics Corp.], E-Stamp regroups, AP via Boston Globe, D2.
  10. Henry Schein sells British software[-development] business [to British unit of Software of Excellence, a New Zealand firm, for $??], NYT, C4.
  11. AWD Holding AG [to buy Dr. Blumrath AG, both in Germany, for $??], NYT, C4.
  12. ...BSMG [Worldwide in NYC] make[s] acquisition [of Square Mile Holdings in London for $??], by Stuart Elliott, NYT, C10., Bloomberg via NYT, C4.
11/25/2000  1 post-Thanksgiving takeover reported, worth $158m - 11/24/2000  1 Thanksgiving takeover reported, worth $undisclosed - 11/23/2000  6 takeovers reported, totaling $2.9297B + $$undisclosed -
  1. [ABN] AMRO [Holding] paying $2.75B [to National Australia Bank] for Michigan National, Bloomberg via NYT, C3.
  2. United News and Media PLC [sold Express newspaper group to Northern & Shell Group for $176.7m], NYT, C3.
  3. LeadingSide [of Cambridge] sells some [product] businesses [to Open Text of Canada for $3m], Dow Jones via Boston Globe, C7.
  4. AMRO [buying] Michigan National [some time after buying Florida mortgager HomeSide Inc. for $??], Bloomberg via NYT, C3.
  5. British food retailer [J. Sainsbury PLC] buying 12 Grand Union stores [for $??], Bridge News via NYT, C3.
  6. Weyerhaeuser Co. [to sell its door business to Wind Point Partners for $??], NYT, C3.
11/22/2000  6 takeovers reported, totaling $1.234(!)B + $undisclosed -
  1. Ticketmaster spinoff reversed [- Ticketmaster Online Citysearch Inc. is buying Ticketmaster Corp. back for $653m], Bridge News via Boston Globe, C2.
  2. Intec [Telecom] will buy Computer Generation for $245m, Bloomberg via NYT, C4.
  3. Paris department store sold [- LVMH-Moet Hennessy Louis Vuitton to buy 51% of La Samaritaine for $190m], Bloomberg via NYT, W1.
  4. Thermo Electron's [Peek Ltd.] unit to go in $128m deal [to First Atlantic Capital], Bloomberg via Boston Globe, C5.
  5. Avant [Immunotherapeutics] buys vaccine maker Megan Health for $18m, by Naomi Aoki, Boston Globe, C4.
  6. Shaw's to buy 18 Grand Union stores [for $??], by Chris Reidy, Boston Globe, C8.
11/21/2000  15 takeovers reported, totaling $16.9127B + $undisclosed -
  1. Old Kent Financial to be bought by Ohio bank [Fifth Third Bancorp for $4.92B], Bloomberg via NYT, C4.
  2. Europeans in big deal to create data group [- France Telecom to tak control of Equant NV for $4B], by John Tagliabue, NYT, W1.
  3. A startling bank privatization in Brazil - Union ire undiluted by Banco Santander Central Hispano's accepted] $3.57B bid [for gov't-owned Banco do Estado de Sao Paulo (Banespa)], by Jennifer Rich, NYT, W1.
  4. Royal Ahold NV [to buy Sara Lee's PYA/Monarch food-distribution unit for $1.6B], NYT, C4.
  5. Pogo [Producing Co.], an oil developer, agrees to purchase Noric [Corp. for 630+120= $740m], Bloomberg via NYT, C4.
  6. NRG Energy and Dynegy agree to buy [Las Vegas'] power resources, [Clark powerplant & most of Reid Gardner plant's output, from Sierra Pacific Resources' Nevada Power unit for $634m], Bloomberg via NYT, C4.
  7. Hong Kong bank deal [- Bank of East Asia will take 75% control of FPB Bank Holdings from Mimet Fotic & First Pacific Group for $560m], Bloomberg via NYT, W1.
  8. Australian wine company to sell [its Asia-Pacific] packaging unit [to Visy Group for over $360m], Bloomberg via NYT, C4.
  9. Agco makes deal to acquire Ag-Chem Equipment [for $247.1m], Bloomberg via NYT, C4.
  10. Analog [Devices] to buy Chiplogic Inc. [for $95m], Bridge News via Boston Globe, D11.
  11. Brinker International Inc. [will buy 47 restaurants in the Northeast from a franchisee, NE Restaurant Co., for $93m], NYT, C4.
  12. Hecla Mining Co. [of Idaho to sell Kentucky-Tennessee Clay unit in Nashville to Zemex of Toronto for $68m], NYT, C4.
  13. Smith & Nephew [endoscopy] unit plans buyout [of Orthopaedic Biosystems for $25.6m], Bloomberg via Boston Globe, D11.
  14. Bear Stearns in accord to buy Helios Group [for $??], Bloomberg via NYT, C4.
  15. Old Mutual moves to retain Pilgrim Baxter [& Assocs.] founders [after buying it last month for $??], by Suzanne Kapner, NYT, C4.
11/18/2000  7 takeovers reported, totaling $8.958B + $undisclosed -
  1. Japanese chemical merger [- Sumitomo Chemical to merge with Mitsui Chemicals in Oct/2003 for $6.9B], Bloomberg via NYT, B2. [Talk about 'distant early warning.']
  2. Agilent [Technologies] to sell medical [supply group, spun off from HP,] to Philips [Electronics for $1.7B], AP via NYT, B3.
  3. Hexagon buys measuring instrument business [of Browne & Sharpe Mfg for 160-180, so say $170m], Bloomberg via NYT, B3.
  4. Veritas Capital Fund LP [to buy Stellex Electronics for $87.5m], NYT, B3.
  5. Footstar Inc. [to buy footwear business of J. Baker Inc. for $57.8m], NYT, B3.
  6. Edgewater Technology Inc. [sold its IntelliMark unit to Charlesbank Equity Fund V for $42.7m], NYT, B3.
  7. AndRX Corp. [to buy C Tex Pharmaceutical for $??], NYT, B3.
11/17/2000  4 takeovers reported, totaling $1.8634B -
Note first sobering article "Partial sell-off of Chrysler reported under discussion - Deepening pessimism over a merger [with Daimler] hailed only two years ago," by Andrews, Bradsher & Sorkin, NYT, C2.
  1. Spirent to acquire Hekimian Lab[oratories for $1.58B], Bloomberg via Boston Globe, D2.
    [The NYT version on p.C4 doesn't even give Hekimian's full name.]
  2. Mosaic agrees to buy Paradigm Direct for $102m, Reuters via NYT, C4.
  3. GMAC Insurance Holdings [in Detroit bought Aba Seguros in Mexico for $100m], NYT, C4.
  4. Il Fornaio (America) [to be bought by Bruckmann Rosser Sherrill for $81.4m], NYT, C4.
11/16/2000  7 takeovers reported, totaling $2.7B + $$undisclosed -
  1. Verizon to buy wireless unit [which markets Cellular One, Price Communications Wireless,] from Price Communications [for 1.5+.55= $2.05B], AP via Boston Globe, C9.
  2. Tube makers merge [- Essel Packaging of India with Swiss-based Propack Holding in $350m deal to form Essel Propack], Bloomberg via NYT, W1.
  3. Consolidated Stores selling its KB Toys division [to unidentified buyer with KB mgmt involved, for $300m if deal had closed on Oct. 28], AP via NYT, C4.
    [Mystery resolved by "Bain Capital buys [KB Toys] toys unit of Consolidated Stores [for $305m], 12/09/00 NYT, B3. So does "the Mitten," Mitt Romney of Bain Capital, wants some toys to play with during/after his stint as chairman of the Olympic Committee in Salt Lake City or what?]
  4. Raytheon to sell optical systems unit to [B.F.] Goodrich [for $??], Bloomberg via NYT, C4.
  5. 2 companies in gay media [Planet Out & Online Partners,] plan to merge [for $?? to form PlanetOut Partners], by Alex Kuczynski, NYT, C4.
  6. Publicis unit buys Geltzer & Company [both in NYC, for $??], by Stuart Elliott, NYT, C10.
  7. Smarterkids.com, Earlychildhood.com plan to merge [in $?? deal], by Stephanie Stoughton, Boston Globe, C4.
    Smarterkids.com's staff of 120 likely will be trimmed next year....
    [Ooo, they can hardly wait to destroy jobs (and markets). Here's the takeover-downsizing virus in full virulence.]
11/15/2000  8 takeovers reported, totaling $1.7954B + $$undisclosed -
  1. C & N Touristic set to acquire Thomas Cook [Group's] travel unit [for $790m], NYT, C4.
  2. Radian Group to acquire Enhance Financial Services [for $558m], Bloomberg via NYT, C4.
  3. Cisco [Systems] buys wireless chip-set maker [Radiata, for $295m], by Laurie Flynn, NYT, C4.
  4. Kulicke & Soffa agrees to buy Probe Technology [for $65m], Bloomberg via NYT, C4.
  5. Iron Mountain buys Facs Records Centre [for $40m], Bloomberg via Boston Globe, E9.
  6. LSI Logic [bought intellectual property assets & engineering staff from ParaGea Communications' ParaVoice unit for $38.4m], NYT, C4.
  7. Calif. company [Abgenix] buys IntraImmune [Therapies for $9m], by Rosenbery & Aoki, Boston Globe, E2.
  8. WestPoint Stevens Inc. [to buy CMI Industries' Chatham Consumer Products unit for $??], NYT, C4.
11/14/2000  9 takeovers reported, totaling $5.5228B + $$undisclosed -
  1. Tyco [International] is buying a Lucent unit [- its systems unit for $2.5B], by Simon Romero, NYT, C4.
  2. Fedex agrees to acquire American Freightways [for 950+250= $1200m], AP via NYT, C4.
  3. Cendant to pay $33 a share for remainder of Avis [Group Holdings, totaling $935m for last 82%], Reuters via NYT, C4.
  4. Royal Philips to acquire Adac Laboratories [for $426m], Dow Jones via NYT, C4.
  5. Grand Union agrees to sell most assets to wholesaler [C&S Wholesale Grocers, for $301.8m, including 185 of total 197 stores], NYT, C4.
    [Next week in "British food retailer buying 12 Grand Union stores," Bridge News via 11/23 NYT, C3, we learn that J. Sainsbury PLC is buying the leftover 12 stores, although in the body of the article, it says that Sainsbury "announced yesterday that it was moving to buy 18 Grand Union stores...."   This "18" here is either a typo or rationalized by the end of the paragraph, "Most of Grand Union's assets are being acquired out of bankruptcy-court protection by C&S Wholesale, Grand Union's main supplier, and many of the stores are being immediately resold." (our italics)]
  6. 3M [Minnesota Mining & Manufacturing] to purchase MicroTouch [Systems for $160m], Reuters via Boston Globe, C7.
  7. PerkinElmer Inc. [sold its Berthold business to undisclosed private investor for $??], NYT, C4.
  8. Mead Corp. [of Ohio to buy carbonless coating operations of North American unit of Moore Corp. of Toronto for $??], NYT, C4.
  9. Publicis Groupe acquires Nelson [Communications in NYC for $??], by Allison Fass, NYT, C18.
11/13/2000  3 weekend takeover reports, totaling $15m + $$undisclosed -
  1. Agencies announce acquisition deals [e.g., Taylor Nelson Sofres in London is buying Wallace Marx & Assocs. in Minneapolis for $15m to operate as a division of its Competitive Media Reporting unit], by Patrick McGeehan, NYT, C22.
  2. Agencies announce acquisition deals [e.g., Rabasca & Co is buying & absorbing AM/PM Promotions, both in NY state, for $??], by Patrick McGeehan, NYT, C22.
  3. Agencies announce acquisition deals [e.g., Fisher Design bought Index Design Assocs., both in Cincinnati, for $??], by Patrick McGeehan, NYT, C22.
11/11/2000  6 takeovers reported, totaling $779m + $$undisclosed -
  1. [Royal Vopak to make $444m] Deal for Ellis & Everard, Bloomberg via NYT, B2.
  2. Cisco Systems makes [$296m] deal to buy Active Voice, Bloomberg via NYT, B3.
  3. Eastman Kodak Co. [to buy Lumisys for $39m], NYT, B3.
  4. Embratel Participacoes SA [of Sao Paulo to buy UOL's AcessoNet unit for $??], NYT, B3.
  5. Holt's Cigar Holdings Inc. [to be bought by HCH Acquisition for $??], NYT, B3.
  6. DeWolfe acquires firm [= Strong Agency real estate of Conn. for $??], Dow Jones via Boston Globe, C1.
11/10/2000  8 takeovers reported, totaling $6.4773B + $undisclosed -
  1. Western Resources is selling [2] Kansas utilit[ies to Public Service Co. of New Mexico for 1.5+2.94= $4.44B], Bloomberg via NYT, C4. [At least they came up with a good number. Four is special and lucky to the Hopi and other southwest tribes, as in 'the 4 directions' (not counting up & down).]
  2. Sunoco agrees to buy Mitsubishi's Aristech Chemical [for $695m], Bloomberg via NYT, C4.
  3. [Consolidated Edison, or] Con Ed sells [Indian Point 2] nuclear plant that had sprung a leak [to Entergy Nuclear of Miss. for $602m], by Chen with Wald, NYT, C17.
  4. General Dynamics in cash [334m & 170m debt] deal for Primex [Technologies - total cost = $504m], Bloomberg via NYT, C4. [It ain't a 'cash deal' if a third of it is debt!]
  5. Yahoo buys Taiwan portal company [Kimo.com, for $132.3m], by Andrew Sorkin, NYT, C6.
  6. AutoNation sells [for $104m, Republic Media, its outdoor] advertising business, to Infinity [Broadcasting's Infinity Outdoor] unit, Bloomberg via NYT, C4.
  7. Unigraphics Solutions [bought Engineering Animation for $?? in Oct. (but was not reported then)], NYT, C4.
  8. [N.H.'s] Sprague Energy buys N.Y. company [RAD Energy, for $??], Boston Globe, D7.
11/09/2000  10 takeovers reported, totaling $4.1512B + $$undisclosed -
  1. Alcatel reportedly buying Astral Point [Communications, for $1-2B, say, $1.5B], Bloomberg via Boston Globe, C9.
  2. Berkshire Hathaway to buy Benjamin Moore paints [for $1B], Bloomberg via NYT, C4.
  3. Dueling Swiss wireless stakes [- France Telecom buys a second 42.5% of Orange Communications for $940m], by Suzanne Kapner, NYT, W1.
  4. Thomas Cook sells [traveler's check] unit [to Travelex for $631m], by Suzanne Kapner, NYT, W1.
  5. Coca-Cola Enterprises Inc. [for $54m, bought 3 soft-drink bottlers - Longview Coca-Cola Bottling of Texas, Columbia Beverages & Vermilion Beverages, both of Canada, and sales territories in Ohio, Kentucky & Canada], Bloomberg via NYT, C4.
  6. LIN Television buys Buffalo station [WNEQ-TV, Channel 23, from Western New York Public Broadcasting Assoc. for $26.2m], Reuters via Boston Globe, C9.
  7. Community Banks Inc. [to buy Glen Rock State Bank for $24.9m], NYT, C4.
  8. Sysco will acquire [5] Freedman meat divisions [in Texas from Freedman Cos. for $??], Reuters via NYT, C4.
  9. [4] Korean banks forced to merge [for $?? - Hanvit Bank, Peace Bank of Korea, Kwangju Bank, & Cheju Bank], Bloomberg via NYT, W1.
  10. French gas deal [- TotalFinaElf to sell its butane-propane unit Elf Antargaz to consortium led by BNP Paribas for $??], Reuters via NYT, W1.
11/08/2000  7 takeovers reported, totaling $168.5m + $$$undisclosed -
  1. Toronto-Dominion Bank [to buy Newcrest Capital for $146m], NYT, C4.
  2. Companies making some acquisitions [eg: ValueClick bought Click Agents.com, both in Calif., for 20-24, so say $22m], by Stuart Elliott, NYT, C12.
  3. Companies making some acquisitions [eg: Kupper Parker Communications bought Chameleon Creative, both in St. Louis, for $500,000], by Stuart Elliott, NYT, C12.
  4. Companies making some acquisitions [eg: Lake Capital, Frontenac and individual investors are buying DVC Group for $?? to form DVC Worldwide], by Stuart Elliott, NYT, C12.
  5. Rival [Sephora.com, for $??,] buys Eve.com assets, by Andrew Sorkin, NYT, C4.
  6. ABN Amro Holding NV [and KBC Bancassurance Holding NV to merge their Hungarian banking units for $??], NYT, C4.
  7. Tyco [International] to cut jobs at Mallinckrodt [which it bought on Oct.17 for $??], AP via Boston Globe, C9.
11/07/2000  9 takeovers reported, totaling $6.672B -
  1. Amerada Hess to buy Lasmo, British exploration concern [for $3.5B], by Suzanne Kapner, NYT, W1.
  2. Broadcom plans to buy SiByte [for $2B, after buying 11 other companies last year], by Chris Gaither, NYT, C6.
  3. [Argyle = world's biggest] Diamond mine takeover [- Rio Tinto bought remaining 49.7% stake in Ashton Mining for $375m from Malaysia Mining], Dow Jones via NYT, W1.
  4. Exfo [Electro-Optical Engineering] to acquire a rival, Burleigh Instruments [for 40+235= $275m], Bloomberg via NYT, C4.
  5. AES Corp.['s Venezuelan unit, Grupo EDC, sold $235m in assets to Union Fenosa], NYT, C4.
  6. Hershey Foods to acquire Nabisco [Holdings' Puerto Rico plant and] mint and gum brands [Ice Breakers, Breath Savers, Carefree, Stickfree, Bubble Yum & Fruit Stripe, for $135m], Reuters via NYT, C4.
  7. Envoy [Communications Group in Toronto] to acquire Leagas Delaney [in London for $86m], by Stuart Elliott, NYT, C8.
  8. Avocent, network equipment supplier, to buy Equinox [for $57m], Bloomberg via NYT, C4.
  9. Allaire buys Kawa Java for $9m cash [from Tek-Tools], Dow Jones via Boston Globe, D7.
11/06/2000  1 weekend takeover report - 11/04/2000  5 takeovers reported, totaling $4.564B -
  1. BET Holdings to be bought by Viacom for $2.34B - Acquirer to assume $570m of debt, by Geraldine Fabrikant, NYT, B2. [Stupid, very stupid.]
  2. AES to acquire [for $1.056B, up to 80%] stake in Gener, Chile power producer, Reuters via NYT, B3.
  3. Nikko [Securities] buys port operator [Powell Duffryn, for $797m], Bloomberg via NYT, B2.
  4. Portal Software in deal to acquire Solution 42 [for $300m], Bloomberg via NYT, B3.
  5. Russian oil company [Lukoil Holding] buys U.S. gas station chain [Getty Petroleum Marketing, for $71m] - Lukoil may just be seeking a safe place for its excess cash, by Sabrina Tavernise NYT, B2.
    [Better it should reinvest in its own domestic markets via the wages of its own employees via overtime reinvestment in training & hiring and shortening its corporate workweek.]
11/03/2000  yet 4 more takeovers reported, totaling $1.5756B + $$undisclosed -
the shrinking of the corporate world - and our economies - continues -
  1. Cendant is buying Fairfield [Communities timeshare] for $728m, Bloomberg via NYT, C4.
  2. Sonus Networks is acquiring Telecom Technologies [for $440.6m], Dow Jones via NYT, C4.
  3. Britain: Cable acquisition [- Telewest Communications to buy Deutsche Telekom's Eurobell subsidiary for $407m], by Suzanne Kapner, NYT, W1.
  4. Fire insurers consolidate [- 3 more Japanese insurance companies to merge, all "Fire & Marine" - Yasuda, Nissan, and Taisei - for $??], by Stephanie Strom, NYT, W1.
11/02/2000  4 more takeovers reported, totaling $1.955B -
  1. Comerica and Imperial Bancorp in $1.3B deal, Bloomberg via NYT, C4.
  2. EMC acquires CrosStor for $300m, Bloomberg via NYT, C4.
  3. Lycos Europe buying French portal [MultiMania, for $188m], by Suzanne Kapner, NYT, C6.
    [With the euro so low, what a great time to buy everything in Europe and guarantee that Europe will never ever EVER pose a competitive threat to the World's Greatest Nation - nya nya so there! Yet so few American CEOs or investment bankers have realized this. All they have to do is just buy'em up and close'em down, just like GM did to steam-loco parts-plants in the 40s and 50s to sell its buses and semis (sooo efficient to have every freightcar with its own engine & driver!). Short-term win-lose capitalism chopping cleverly away at its own foundations.]
  4. Canadian gas acquisition [- Centrica bought Avalanche Energy of Calgary for $167m], by Timothy Pritchard, NYT, W1.
11/01/2000  4 takeovers reported, totaling $908m + $$undisclosed -
  1. Neuberger Berman acquires [private asset mgmt] unit from Delta Capital [Mgmt for $550m], Dow Jones via NYT, C4.
  2. Unilever is selling Elizabeth Arden division [to French Fragrances of Fla. for $225m], by Suzanne Kapner, NYT, C4.
  3. Performance Food [Group] makes [$133m] deal to purchase Redi-Cut [Foods], Bloomberg via NYT, C4.
  4. Standard & Poor's [bought Canadian Bond Rating Service of Toronto for $??], NYT, C4.
10/31/2000  11 takeovers reported, totaling $3.3474B + $$undisclosed -
  1. Primedia to buy About.com for $690m in stock, pointer digest (to C12), NYT, C1.
  2. Greif [Brothers] to acquire Huhtamaeki [van Leer Oyj] unit for $620m, Bloomberg via NYT, C4.
  3. Stone Energy to buy Basin Exploration for $458m, Bloomberg via NYT, C4.
  4. PepsiCo to acquire 90% of SoBe [for $370m], pointer digest (to C2), NYT, C1.
  5. Wachovia will buy Republic Security for $344m, Bloomberg via NYT, C4.
  6. Grand Union will be bought by C & S Wholesale [for $300m], Reuters via NYT, C4.
  7. Buyout completed [- Nordson bought EFD Inc. for $280m], pointer digest (to C12), Bloomberg via Boston Globe, E10.
  8. Bell & Howell will sell imaging unit to Eastman Kodak [for $150m], Bridge News via NYT, C4.
  9. Winn-Dixie to purchase 106 stores from [bankrupt] Jitney-Jungle [Stores for $85m], Bloomberg via NYT, C4.
  10. Mikron Holding to acquire Axxicon [of Netherlands for$50.4m], Bloomberg via NYT, W1.
  11. Latin companies merge media holdings [- joint venture between Cisneros Group and Hicks Muse Tate & Furst to merge with El Sitio net portal for $?? into 'Claxson Interactive Group'], by Jennifer Rich, NYT, C4.
10/28/2000  3 takeovers reported, totaling $6.309B -
  1. Media giants [Reed Elsevier and Thomson Corp.] in joint deal for Harcourt [General for 4.4+1.2= $5.6B], by Andrew Pollack, NYT, B1.
  2. Trinity Mirror buys Southnews [in Britain for $409m], by Alan Cowell, NYT, B2.
  3. Microchip Technology [to buy TelCom Semiconductor for $300m], NYT, B3.
10/27/2000  4 takeovers reported, totaling $4.025B + $$undisclosed -
  1. Kellogg agrees to buy Keebler Foods for $3.86B, by Greg Winter, NYT, C2.
  2. Lightbridge to buy Corsair [Communications] in $165m stock deal, Bloomberg via NYT, C4.
  3. Consolidated Service bought by ABN-Amro unit [for $??], Bloomberg via NYT, C4.
  4. Home Properties of New York [to sell its affordable-housing development operations to a mgmt team for $??], NYT, C4.
10/26/2000  only 2 takeovers reported, totaling $2.065B -
  1. Peugeot unit to buy division of Sommer PSA [- Peugeot Citroen of France will buy SIT, the holding company that controls Sommer-Allibert's automotive business for $1.24B & then hand it to its own parts division, Faurecia, in return for an additional 17% Faurecia stake for a total of 70%], Bloomberg via NYT, W1. [Note the headline is doubly misleading: the Peugeot unit ain't doin' the buying and it's the parent of Sommer that's getting bought, not just Sommer.]
  2. Franklin [Resources of Franklin Templeton funds] is in $825m deal for money manager [Fiduciary Trust of New York], by Danny Hakim, NYT, C4.
10/25/2000  8 takeovers reported, totaling $641.6m + $$undisclosed -
  1. Rockwell [International's aviation unit, Rockwell Collins, for $330m,] will acquire [K Systems, the] parent of [Kaiser] Aerospace company, Bloomberg via NYT, C4.
  2. Carlton [Communications in Britain] to buy HTV [from Granada Media for $263m], by Suzanne Kapner, NYT, W1.
  3. Global Sports to buy online retailer Fogdog [for $38.4m], by Bob Tedeschi, NYT, C6.
  4. Boston Bank of Commerce deal - Will acquire [Founders National Bank of Los Angeles in $10.2m] stock swap, by Kimberly Blanton, Boston Globe, D1.
  5. Home-equity lender Advanta to sell mortgage business [to ?? (unidentified) financial institution for $?? (undisclosed)], Bloomberg via NYT, C4.  [Like, why bother??]
  6. Watsco Inc. [to buy S.W. Anderson Sales Corp. for $??], NYT, C4.
  7. Several agencies make acquisitions [eg: Rainmaker Interactive in Va. bought Smith Smith & Smith - we are not making this up - in Calif. for $??], by Patricia Lauro, NYT, C9.
  8. Several agencies make acquisitions [eg: Cronin & Co. 'acquired and absorbed' CPR, both in Conn., for $??], by Patricia Lauro, NYT, C9.
10/24/2000  6 takeovers reported, totaling $43m + $$undisclosed -
  1. Aviall unit to purchase Superior Air Parts [for $43m], Reuters via NYT, C4.
  2. Wabash National agrees to acquire Breadner Group [for $??], Bloomberg via NYT, C4.
  3. GenCorp agrees to acquire division of Laird Group [for $??], Dow Jones via NYT, C4.
  4. Wesco International Inc. [bought KVA Supply for $??], NYT, C4.
  5. [Bidcom & Cephren,] Two specialized I.S.P.'s merging [into 'Citadon,' for $??], by Laurie Flynn, NYT, C8.
  6. J. Walter Thompson will acquire Tonic 360 of San Francisco [for $??] to help with interactive marketing, by Stuart Elliott, NYT, C6.
10/23/2000  1 weekend takeover reported, totaling $45B - 10/21/2000  5 takeovers reported, totaling $918.3m + $undisclosed -
  1. Time [Inc., for $475m,] to buy Tribune [Co.] magazine group, pointer digest (to B3), NYT, B1.
    [Points to mistitled "Tribune reports lower earnings for quarter," Reuters via NYT, B3.]
  2. NRG Energy Inc. [to buy 3 electrical-generating assets from Sierra Pacific Resources for $273.3m], NYT, B3.
  3. Cisco Systems agrees to buy software unit of Cais [Internet for $170m], Reuters via NYT, B3.
  4. Big Boy Restaurant franchiser [Elias Bros.] files for bankruptcy [& plans to sell out to investor Robert J. Liggett Jr. for $??], AP via NYT, B3.
  5. Dow Chemical Co. [will buy biotech services unit of Collaborative Group for $??], NYT, B3.
10/20/2000  8 takeovers reported, totaling $1.7802B + $undisclosed -
  1. Triad Hospitals in $1.4B deal for Quorum [Health Group], Bloomberg via NYT, C4.
  2. Medtronic agrees to pay $225m for PercuSurge, Bloomberg via NYT, C4.
  3. Shaw Group [to sell Stone & Webster cold-storage business unit to investor group led by Wareing, Athon & Co. for $70m], NYT, C4.
  4. Digital Biometrics [to buy Visionics for $36.8m], NYT, C4.
  5. 99 Cents Only Stores [to sell Universal International unit for $34m to firm controlled by its CEO, David Gold], NYT, C4.
  6. Student Advantage buy gets judge's OK [to buy bankrupt CollegeClub.com's assets for $13.4m], by Stephanie Stoughton, Boston Globe, C5.
  7. Student Advantage buy gets judge's OK [to buy CollegeClub's assets after buying CollegeClub subsidiary, eStudentLoan, for $1m in July], by Stephanie Stoughton, Boston Globe, C5.
  8. Chase Manhattan agrees to buy unit of First Tennessee [National for $??], Bloomberg via NYT, C4.
10/19/2000  6 takeovers reported, totaling $3.5B + $undisclosed -
  1. Europeans buy 2 U.S. money managers [eg: Allianz insurance of Germany to buy Nicholas-Applegate for $2.2B], by Danny Hakim, NYT, C19.
  2. Europeans buy 2 U.S. money managers [eg: Dutch megabank ABN Amro to buy Allegheny Asset Mgmt for $825m], by Danny Hakim, NYT, C19.
  3. Station Casinos to sell Missouri operations [to Ameristar Casinos for $475m], Bloomberg via NYT, C4.
  4. Wells Fargo & Co. [to buy Brenton Banks for $?? after selling 4 branches in Des Moines], NYT, C4.
  5. Online investing sites to merge [- IExchange.com and Interactive Funds, for $??], by Danny Hakim, NYT, C6.
  6. Sony in deal with Solectron [to sell them mfg operations in northern Japan & Taiwan for $??], by Miki Tanakawa, NYT, C6.
10/18/2000  8 takeovers reported, totaling $16.3709B + $undisclosed -
  1. Spanish utility to acquire rival in $12.7B deal [- Grupo Endesa to buy Iberdrola], by Benjamin Jones, NYT, W1.
  2. Marvell [Technology Group] buying Israeli chip maker [Galileo Technology, for $2.7B], by Andrew Sorkin, NYT, C8.
  3. Boots, a British company, buys P.&G.'s Clearasil brand [for $340m], by Alan Cowell, NYT, C4.
  4. Broadcom picks up Texas chip maker [Allayer Communications, for $273.5m], by Andrew Sorkin, NYT, C8.
  5. Sunrise Medical will be bought [for $224.4m] by its senior managers [included in an investor group that also includes Paprk Avenue Equity Partners and Vestar Capital Partners], Bloomberg via NYT, C4.
  6. Predictive Systems plans acquisition [of Global Integrity subsidiary of Science Applications International for $92m], by Seth Schiesel, NYT, C8.
  7. SCC Communications agrees to purchase a Lucent unit for $41m], Bloomberg via NYT, C4.
  8. Boeing Co.['s Australian unit to buy Hawker de Havilland from Tenix Group for $??], NYT, C4.
10/17/2000  10 takeovers reported, totaling $2.1696B + $undisclosed -
  1. In big biotech merger, Corixa plans to buy Coulter Pharmaceutical for $900m, by Andrew Pollack, NYT, C10.
  2. United Technologies to acquire Specialty Equipment [for 600+100= $700m], Reuters via NYT, C4.
  3. Schlumberger agrees to buy Convergent [Group for $276m], Dow Jones via NYT, C4.
  4. Amgen to buy Kinetix [Pharmaceuticals for $170m], by Andrew Pollack, NYT, C10.
  5. Calpine to buy Trigas [Exploration], Canadian energy producer [for $103m], Bloomberg via NYT, C4.
  6. Maxwell Shoe buys Joan & David assets [for $16.8m], Dow Jones via Boston Globe, D8.
  7. PictureTel sells [to AxessPoint for up to $3.8m depending on next 2 yrs' revenues, Starlight Networks] unit , Dow Jones via Boston Globe, D8.
  8. Elec Communications Corp. [will acquire Line One for $??], Bloomberg via NYT, C4.
  9. Bon-Ton Stores Inc. [to buy unit of Federated Dept. Stores for $??], NYT, C4.
  10. Neuberger Berman Inc. [to buy Fasciano Co. for $??], NYT, C4.
10/16/2000  4 weekend takeovers reported, totaling $36B + $undisclosed -
  1. Chevron agrees to buy Texaco for stock valued at $36B - Deal creates world's 4th largest oil company, by Sorkin & Banerjee, NYT, front page.
  2. 3 Interpublic units make acquisitions [eg: FutureBrand in NYC bought Dollery Rudman Freibauer in Toronto for $?? & merged it with FutureBrand Hypermedia], by Stuart Elliott, NYT, C20.
  3. 3 Interpublic units make acquisitions [eg: Golin/Harris International in Chicago bought MWW Group in N.J. for $??], by Stuart Elliott, NYT, C20.
  4. 3 Interpublic units make acquisitions [eg: Octagon Worldwide bought Movie & Media Sports, both in London, for $??], by Stuart Elliott, NYT, C20.
10/14/2000  6 takeovers reported, totaling $3.682B + $undisclosed -
  1. Highflying Asian start-up returns abruptly to earth - Pacific Century [CyberWorks] scales back...deal [to be taken over by Telstra, still for $2.4B but now must yield majority control of Cable & Wireless HKT], by Mark Landler, NYT, B2.
  2. Chilean power acquisition [- Endesa sold its electric transmission unit, Transelec, to Hydro-Quebec for $1B], Reuters via NYT, B2.
    [Hydro-Quebec must be out of its mind or unaccountably desperate for looong business trips to the other end of the hemisphere.]
  3. Brunswick to sell some of its brands [including Igloo coolers & Zebco fishing gear, to K2,] a ski maker [for $200m], Bloomberg via NYT, B3.
  4. Shop At Home Inc. [to sell its TV station, KZJL, Channel 61 in Houston to Liberman Broadcasting Inc. for $57m], NYT, B3.
  5. Soros [Private Equity Partners] will acquire controlling interest in Bluefly [for $25m], Reuters via NYT, B3.
  6. Agilent to sell equipment[-financing & leasing] division to CIT Group [for $??], Bloomberg via NYT, B3.
10/13/2000  5 takeovers reported, totaling $1.48B + $undisclosed -
  1. National Discount [Brokers Group] accepts [$1B] offer from Deutsche Bank, AP via NYT, C4.
  2. Engle Homes is being acquired by Technical Olympic [for $465m], Bloomberg via NYT, C4.
  3. [Boston Communications Group, a Woburn company sells [customer care] division [to Teletech Holdings of Denver for 13+2= $15m], Boston Globe, E7.
  4. Ivax [of Miami to buy Laboratories Fustery of Mexico for $??], NYT, C4.
  5. American Tower [Verestar] unit buys Publicom [for $??], Bloomberg via Boston Globe, D7.
10/12/2000  2 takeovers reported, totaling $10.59B + $undisclosed -
  1. Italian utility [Enel SpA] agrees to buy Vodafone['s Italian fixed-line] unit [Infostrada] for $9.63B [+ 0.963B in debt = $10.593B total], by John Tagliabue, NYT, W1.
  2. Bet.com to buy 360HipHop.com [from rap impresario Russell Simmons for $??], Reuters via NYT, C6.
10/11/2000  4 takeovers reported, totaling $1.36B + $undisclosed -
  1. Metromedia [Fiber Network] in [$1.36B] deal for SiteSmith, by Simon Romero, NYT, C4.
  2. Primedia is acquiring Kagan World Media [for $??], Bloomberg via NYT, C6.
  3. Mellon Financial buying [for $??, Seattle-based] Trust Company of Washington, Dow Jones via NYT, C6.
  4. [And our personal favorite -]
    Arthur Treacher's Inc. [of Jacksonville to buy Pudgie's Famous Chicken of Lake Success, NY, for $??], NYT, C6.
10/10/2000  8 takeovers reported, totaling $6.589B + $undisclosed -
  1. Fortis acquiring Dutch insurer [ASR Verzekeringsgroep for $2.9B], by John Tagliabue, NYT, W1.
  2. SmithKline Beecham to buy Block Drug for $1.2B, Bloomberg via NYT, C4.
  3. Tyco International sells [ADT Automotive] auction business [to Manheim Auctions for $1B], Reuters via NYT, C4.
  4. Concord EFS to buy Star Systems in $850m deal, Bloomberg via NYT, C4.
  5. Caradon [in Britain] to sell plumbing unit to HSBC Private Equity [for $639m], by Suzanne Kapner, NYT, W1.
  6. Banco Santander [Central Hispano $??] acquisition [of majority of Banco Caracas to combine it with its Banco de Venezuela], by Benjamin Jones, NYT, W1.
  7. MCSi says announces acquisition of Intellisys Group [for $??], Bloomberg via NYT, C4.
  8. U.S. Concrete purchases Hanson Concrete Products [for $??], Bloomberg via NYT, C4.
10/07/2000  2 takeovers reported, totaling $152m + $undisclosed -
  1. Taco Cabana, restaurant chain, being sold to Carrols [Corp. for $152m], AP via NYT, B3.
  2. CNA Financial sells [United States] life reinsurance holding [to unit of Munich Re for $??], Bloomberg via NYT, B3.
10/06/2000  4 takeovers reported, totaling $225m + $undisclosed -
  1. Utilicorp agrees to buy six power plants from GPU [for $225m], Bloomberg via NYT, C3.
  2. Holiday RV Superstores [to buy 4 dealerships from Emerald Coast RV Center for $??], NYT, C3.
  3. Quanta Services [of Houston bought 4 unnamed companies in Mich., Tex., Mont., & NY from ?? for $??], NYT, C3.
    [Geez mabeez, we don't know if it's the company, the wire service, or the Times, or all the above, but if they're going to provide so little info, why bother?!]
  4. Redox Brands [bought the Biz laundry bleach business from Procter & Gamble for $??], NYT, C3.
10/05/2000  8 takeovers reported, totaling $24.6665B + $undisclosed -
  1. US Bancorp to be acquired by Firstar for $21B, by Riva Atlas, NYT, C4.
  2. Maxtor buying Quantum disk [drive group for $1.3B], by Andrew Sorkin, NYT, C10.
  3. Expansion by Billiton [of Britain - gets Canada's Rio Algom for $1.13B], by Suzanne Kapner, NYT, W1.
  4. Broadcom acquiring Element 14 [for $594m], by Laurie Flynn, NYT, C10.
  5. Kinder Morgan [Energy Partners] unit to buy [natural] gas divisions from parent [Kinder Morgan Inc., for $300m], Bloomberg via NYT, C4.
  6. Tyco to acquire InnerDyne for $180m, Bloomberg via NYT, C4.
  7. Drug company [Biovail] buys distributor [DJ Pharma, for $162.5m], Bloomberg via NYT, C4.
  8. Swiss phone deal [- Swisscom will sell its satellite communications division to American Tower's Verestar group for $??], by Elizabeth Olson, NYT, W1.
10/04/2000  4 takeovers reported, totaling $1.1358B -
  1. A merger of 2 medical device makers [- Thoratec Laboratories will buy Thermo Cardiosystems for $572m], Dow Jones via NYT, C10.
  2. Cumulus Media gets 35 radio stations [in 9 markets from Connoisseur Communications of Conn. for $257.8m], Dow Jones via NYT, C8.
  3. Another DoubleClick acquisition [- NetCreations, for $191m], by Susan Stelling, NYT, C4.
  4. Minnesota Mining [& Mfg] will buy electronics maker [Robinson Nugent, for $115m], Bloomberg via NYT, C4.
10/03/2000  13 takeovers reported, totaling $12.07B + $undisclosed -
  1. Danish bank merger [- Danske Bank to buy Real-Danmark mtg for $3.1B], by Alan Cowell, NYT, W1.
    [That's too bad. We thought the Danes, as a nation who independently invented Gandhi's successful non-violent resistance (against the Nazis in World War II), had more sense than to get into this merger malarky.]
  2. Donaldson [Lufkin & Jenrette] fund to buy IBP, a meatpacker [for $2.4B], Reuters via NYT, C4.
  3. British insurance deal [- Royal London Mutual Insurance Society will buy Scottish Life Assurance for $1.63B], by Suzanne Kemper, NYT, W1.
  4. ASM Lithography [of Holland] to buy a rival [Silicon Valley Group, for $1.6B], TheStreet.com via NYT, C12.
  5. Canadian energy acquisition [- Gulf Canada Resources to buy Crestar Energy for $1.16B], by Timothy Pritchard, NYT, W1.
  6. Montana Power and NorthWestern [Corp.] in $612m deal [for Montana's energy distribution business], AP via NYT, C4.
  7. PNC [Financial Services, for $605m,] to sell Home Mortgage unit to Washington Mutual, Dow Jones via NYT, C4.
  8. International Paper to sell Masonite [Corp. to Premdor of Canada] for $523m, Bloomberg via NYT, C4.
  9. Finnish-Dutch concern [Huhtamaki Van Leer, for $185m,] acquires Packaging Resources, Reuters via NYT, C4.
  10. Pfizer will sell its feed additive business [to Philipp Brothers Chemicals for $155m, with stakes also going to Palladium Equity Partners and Phibro Animal Health], Bridge News via NYT, C4.
  11. Alza exercises option to purchase Crescendo [Pharmaceuticals for $100m], Bloomberg via NYT, C4.
  12. Milacron Inc. [sold Widia Magnet Engineering business in Germany to Magnequench of Indiana for $??], NYT, C4.
  13. Bakery deal in Canada [- Onex investments bought Pennant Foods thru its SC International Services unit for $??], Bloomberg via NYT, C8.
10/02/2000  1 weekend takeover reported, totaling $7B -
  1. Fleet to buy N.J. bank for $7B - Acquiring Summit Bancorp in stock deal, by Chris Reidy, Boston Globe, C1.
    [Buy faster, faster, Fleet - let's see if you can buy new customers faster than you lose your old ones thru louzy service.]
For earlier Mergers&Acquisitions, click on the desired date -
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  • Feb/99 and before

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