Industrial Conglomerates
United Technologies Corp Completes Divestiture Of Pratt & Whitney Power Systems Unit To Mitsubishi Heavy Industries Ltd
United Technologies Corp announced that it has completed the divestiture of its Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries Ltd (MHI) . Terms of the agreement were not disclosed. Divesting Power Systems allows UTC to focus on its core aerospace and commercial businesses. Pratt & Whitney has entered into a long-term agreement with MHI under which Pratt & Whitney will provide certain engineering and manufacturing services to MHI in connection with the development of the FT4000, Power Systems' next-generation industrial gas turbine. Under the long term agreement, P&W has also agreed to provide GG8 turbines to MHI. Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, auxiliary and ground power units and small turbojet propulsion products. United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.
Texchem Resources Bhd Announces Acquisition Of Ordinary Shares Texchem Corporation Sdn. Bhd
Texchem Resources Bhd (TRB) announced that it has proposed acquisition of 40 warrants and 1,208,630 ordinary shares of MYR1.00 each in Texchem Corporation Sdn. Bhd. (texcorp) by TRB from Texchem Holdings Sdn. Bhd. at the purchase consideration of MYR1,000,000 and MYR2,018,412.10 (at MYR1.67 per share) respectively. The Board of Directors of TRB announced that the Proposed Acquisition has been duly completed May 17, 2013. As such, Texcorp is a 55.80% owned subsidiary of TRB.
Eqstra Holdings Ltd Announces Extension Of Offer To Protech Khuthele Holdings Limited
Eqstra Holdings Ltd announced that with reference to the earlier announcement regarding Eqstra’s firm intention to make an offer to Protech Khuthele Holdings Limited's shareholders to acquire all the Protech shares that Eqstra does not already beneficially hold, being approximately 67.23% of the Protech share capital (Offer Shares), for a cash consideration of ZAR0.60 per Offer Share (the Offer), and to Eqstra’s response thereto, released on SENS on December 6, 2012, and to the further announcement released by Eqstra on SENS on February 21, 2013. Eqstra is required to make an announcement on the 45th business day after the day on which conditional general offer to the shareholders of Protech opened, regarding whether or not the offer is unconditional as to acceptances or has terminated.
Investment Latour AB Acquires Lidens Slip and Trollhattans Verktygssliperi through LSAB Sverige
Investment Latour AB announced that the Company's business area Latour Industries has through its entity LSAB Sverige acquired Lidens Slip in Skepplanda and Trollhattans Verktygssliperi in Trollhattan. Through the acquisition LSAB aims to strengthen its offering to the steel and metal industry. Financial details of the transaction were not disclosed.
Rieber & Son ASA Updates on Mandatory Offer by Orkla ASA's Orkla Brands AS
Rieber & Son ASA announced, with reference to the announcement from April 26, 2013 where it was announced that Orkla ASA’s Orkla Brands AS (OBAS) would make a mandatory offer for Rieber & Son ASA (RIE) and carry out a compulsory acquisition of all RIE shares not already owned by it (except for treasury shares held by RIE) with effect from before opening of the stock exchange the first day in the offer period for the mandatory offer, i.e. April 29, 2013, that the compulsory acquisition has become effective and OBAS is consequently the owner of 100% of the shares in RIE.
Investment Latour AB Acquires Walter Meier (Klima Deutschland) GmbH through Swegon
Investment Latour AB announced that the Company's business area Swegon has signed an agreement to acquire Walter Meier (Klima Deutschland) GmbH, a German provider of climate solutions. The transaction is carried out at EUR 16.5 million (enterprise value).
Orkla ASA's Orkla Brands AS Makes Mandatory Offer for Rieber & Son ASA
Orkla ASA announced that Orkla Brands AS (OBAS) has on April 26, 2013 completed its acquisition of 69,900,380 shares in Rieber & Son ASA (RIE). After the acquisition OBAS owns 90.11% of the shares in RIE. As a consequence of the acquisition OBAS has resolved to make a mandatory offer for all remaining shares of RIE not already owned by OBAS. The offer is being made in accordance with the provisions of Chapter 6 of the Norwegian Securities Trading Act. The offer price is NOK 67.45 per share, which is the same price per share as paid to the Rieber family. The offer period is from and including April 29, 2013 to May 27, 2013 at 16:30 (CET). Settlement of the offer will take place no later than June 10, 2013. OBAS has engaged DNB Markets as financial adviser and receiving agent in connection with the offer.
Orkla ASA's Orkla Brands AS Completes Acquisition of Rieber & Son ASA; Plans to Apply for Delisting of Rieber & Son's Shares from Oslo Stock Exchange
Orkla ASA announced that it has on April 26, 2013 completed its agreement to purchase 69,900,380 shares in Rieber & Son ASA (RIE) through its wholly-owned subsidiary Orkla Brands AS (hereafter called Orkla). The purchase price per share, including accrued interests, is NOK 67.45. After the acquisition, Orkla will own 90.11% of the shares in RIE. The sellers of the shares are AS Atlantis Vest (34,427,090 shares, equivalent to 44.38%), Zee Ploeg AS (33,773,290 shares, equivalent to 43.54%) and Flu AS (1,700,000 shares, equivalent to 2.19%). None of the sellers will own shares in Rieber & Son after completion of the transaction. Fritz Rieber, who is a board member in the selling entities, does not hold any shares in Rieber & Son ASA, but related parties of him hold in aggregate 1,038 shares. Orkla will make a mandatory offer to the remaining shareholders in Rieber & Son based on the same purchase price per share that is being paid to the Rieber family. A decision will be made in parallel to conduct a compulsory acquisition of minority shareholdings, after which an application will be made to delist the Rieber & Son’s shares from the Oslo Stock Exchange.
FAS Provides AFK Sistema OAO's Subsidiary to Acquire 51% of Moskovskiy biznes inkubator OAO's Voting Shares-RIA Novosti
RIA Novosti reported that Russia's Federal Anti-trust Service (FAS) has provided AFK Sistema OAO's subsidiary, Gruppa kompaniy Medsi ZAO, to acquire a 51% of voting shares in Moskovskiy biznes inkubator OAO. Financial details of the transaction were not disclosed.
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Sector Summary
| Energy |  +0.30% |
| Basic Materials | +0.59% |
| Industrials | +0.38% |
| Cyclical Goods & Services | +0.34% |
| Non-Cyclical Goods & Services | +0.06% |
| Financials | +0.35% |
| Healthcare | +0.78% |
| Technology | +0.03% |
| Telecoms | +0.06% |
| Utilities | +0.17% |
| DOW | 15,387.58 | +52.30 |
+0.34% |
| S&P 500 | 1,669.16 | +2.87 |
+0.17% |
| NASDAQ | 3,502.12 | +5.69 |
+0.16% |
| TR US Index | 151.47 | +0.24 |
+0.16% |
-126.66Analyst Research
| Report Title | Price |
|---|---|
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Provider: Edison Investment Research
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$10.00
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Provider: GlobalData
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$125.00
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Provider: GlobalData
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$125.00
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Provider: Reuters Investment Profile
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$20.00
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Provider: Edison Investment Research
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$10.00
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