Private equity firms are increasingly seeking to partner with U.S. companies rather than buying them outright, as they struggle to find ways to put their huge piles of money to work at a time when frothy markets have made takeovers expensive.
Mergers & Acquisitions
Drug testing company Cyprotex acquires American rival CeeTox
Cyprotex, a drug testing company based in the UK, on Thursday announced that it had purchased American rival CeeTox. Cyprotex will initially pay £630,000 to the North American Science Associates for CeeTox.
Merger activity rises as markets remain buoyant - report
According to a report by The New York Times, mergers are picking up activity as financial markets worldwide, including the US, are becoming stronger and more stable.
Royal Bank of Canada is top dealmaker on Canadian retail M&A- report
The top dealmaker for Canadian retail mergers and acquisitions for 2013 is the Royal Bank of Canada, data from Bloomberg revealed. RBC has held the top spot for the third straight year.
Google to shut down Bump, Flock after $30-$60M acquisition deal
Google Inc., which acquired startup Bump Technologies last year for $30 million to $60 million, will end the operations of smartphone file-sharing app Bump and photo-aggregating software Flock on January 31.
Latest News
Dubai-based construction company Arabtec Holding had no plans to up its stake in interior contracting firm Depa, according to a statement made by Arabtec to Dubai's bourse.
Australia-based boutique funds management company Paradice Investment Management has acquired a 5.14% stake in electronics retailer Dick Smith, according to a document filed with the Australian Securities Exchange (ASX).
The Chief Executive Officer (CEO) of Colorado, US-based plastic clogs maker Crocs Inc is set to retire, and Blackstone Group LP will acquire a $200-million convertible preferred stock in the struggling shoemaker.
The officials of Caddo Parish's Industrial Development Board closed the deal on Friday afternoon to acquire the former General Motors (GM) facility from RACER Trust for $7.5 million.
The leveraged buyouts in Europe are surging as US distress investors purchase existing bank loans at steep discounts and move to take over the companies by exchanging their debt for equity in "loan-to-own" deals in the wake of the financial crisis.
Qatar-based oil and gas drilling company Gulf Drilling International (GDI) is poised to become a wholly-owned subsidiary of Gulf International Services (GIS) with the latter acquiring the entire 30% stake held by Japan Drilling Corp (JDC), according to a GIS spokesman.
Irvine, California-based business analytics firm CoreLogic bought Oakland, California-based catastrophe risk modeling firm EQECAT for a yet undisclosed sum from its parent company ABS Group.
The DealBook said in its report that banks in China are steadily making strategic acquisitions offshore and opening its businesses outside of the mainland, thanks to recent economic reforms.
The general consensus of research firms and mergers and acquisitions (M&A) experts believed that the brisk activity of dealmaking will keep its momentum till the next year.
