German pharmaceutical company Merck KGaA will acquire AZ Electronic Materials for GBP1.6 billion. Merck will pay AZ's existing stockholders GBP403.5 in cash for each share.
Manufacturing
Oxford Instruments increases Andor offer
Oxford Instruments on Friday upsized its bid for Northern Ireland's Andor Technology to GBP525 per share. Andor Technology turned down Oxford's previous offer of 500 pence per share in cash.
Carlyle prepares for $3B exit of specialty chemicals business PQ
Private equity firm Carlyle Group is mulling over an initial public offering or an outright sale of inorganic specialty chemicals producer PQ Corp. Sources said that the proposed deal could bring in USD3 billion.
GE to continue manufacturing site project near Brazilian port
Multinational conglomerate General Electric Co. intends to proceed with its project to construct a manufacturing site near a port in Rio de Janeiro. The port is being built by LLX Logistica, which was formerly run by Brazilian petroleum titan Eike Batista.
Odyssey exploring sale of aircraft parts manufacturer Wencor
New York-based private equity firm Odyssey Investment Partners is reportedly looking to sell its portfolio company Wencor Group. Wencor manufactures aircraft parts and is based in Springville, Utah.
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The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
German medical supplies manufacturer Gerresheimer on Wednesday confirmed that it is no longer vying for UK-based Rexam's healthcare packaging unit. The company said the healthcare business did not fulfill its acquisition requirements.
Japanese electronics conglomerate Sony Corp. may spend JPY10 billion on a chip plant it intends to buy from Renesas Electronics Corp. Sony is reportedly increasing its chip output to boost its profits.
Ben Venue Laboratories, a subsidiary of German Boehringer Ingelheim in the US, has engaged Bank of American Merill Lynch to advise it on a proposed sale of its sterile injectable drugs business.
The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
Top credit ranking Johnson & Johnson reportedly sold USD3.5 billion in a six-part bond issue, its first offering in the last two years. Proceeds from the deal will be used to pay the health care product manufacturer's outstanding debt.
Industry executives and academics said mandatory budget cuts or sequestration have led to job losses and could eventually undermine the competitiveness of the US in the global economy, a Reuters report said.
According to a Financial Times report, Amazon faces safety and regulatory hurdles before it can get its plan to use drones to deliver packages to consumers off the ground.
Oil States Industries, Inc., subsidiary of Oil States International, Inc., has acquired Quality Connector Systems, LLC, headquartered in Houston, Texas. QCS designs, manufactures and markets a portfolio of proprietary deep and shallow water pipeline connectors for subsea pipeline construction, repair and expansion projects.
