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   Strategies & Market TrendsSpeculating in Takeover Targets


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To: richardred who wrote (1918)3/4/2008 8:15:38 AM
From: richardred
   of 6274
 
Dyneon LLC Acquires Hitech Polymers Inc.
Tuesday March 4, 8:00 am ET
- Acquisition Broadens Polymer Formulation Capabilities -

ST. PAUL, Minn.--(BUSINESS WIRE)--Dyneon LLC, a 3M company, announced today that it has acquired the business of Hitech Polymers Inc., a manufacturer of specialty thermoplastic polymers and provider of toll thermoplastic compounding services based in Hebron, Ky. Terms of the transaction were not disclosed.

Thermoplastics are used in the creation of a vast range of plastic components—from plastic bottles and molded parts to pumps and valves—for multiple markets such as consumer, packaging, electronics, construction, and transportation. Hitech Polymers brings to Dyneon capabilities in polymer blending, alloying, formulation, ingredient compatibility, and reactive polymer processing that are critical to the process for creating compounds that can be molded into a wide variety of plastic components.

“The addition of Hitech Polymers increases Dyneon’s ability to bring new solutions to existing customers faster,” said Netha Johnson, president and general manager, Dyneon. “Hitech Polymers’s expertise will enable us to implement full-scale internal development, which will in turn accelerate our new product introduction process and expansion into new markets.”

“Dyneon and Hitech Polymers are a natural fit,” said Gerald Miller, president, Hitech Polymers. “The combination of the two businesses will deliver a more complete offering to our customers and grow this business into new markets.”

Dyneon manufactures high-performance materials in its fluoroplastics, fluoroelastomers and specialty additives product lines. Dyneon fluoroelastomers are engineered to meet many of the most demanding sealing challenges, providing long-term protection against high temperatures and corrosive chemicals. Its fluoroplastics, including PFA, FEP, ETFE, HTE, THV and PVDF, can be processed in extrusion, injection, compression, transfer and blow molding. Dyneon's specialty additives, including Dynamar Polymer Processing Additives, are fluoropolymer-based products that improve various processing aspects of thermoplastic resin.

Complementary acquisitions such as this support Dyneon's core business and expansion into additional markets by providing access to new technology, markets and customers. Hitech Polymers employs approximately 15 people at its facility near Cincinnati in Hebron, Ky.

About Hitech Polymers Inc.

Since 1983, Hitech Polymers Inc. has maintained a focus on technology customer partnerships to develop proprietary polymers and processes required for specialty thermoplastic applications. The company is active in the field of polymer blending, alloying, compatibilization, and reactive processing. Customers include both convertors of finished products and major raw material providers, demonstrating the ability to manufacture pilot scale through large scale commercial quantities of material.

About Dyneon LLC

Dyneon LLC, a 3M company, is one of the world’s leading fluoropolymer suppliers with operations or representation in more than 50 countries. Headquartered in Oakdale, Minn., Dyneon and its affiliates employ more than 800 people worldwide who are dedicated to customer service, technical and sales support, marketing, research, application development, and production.

About 3M

A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $24 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.

Contact:

3M Public Relations and Corporate Communications
Media Contact:
Donna Fleming Runyon, 3M, 651-736-7646
or
Investor Contacts:
Matt Ginter, 3M, 651-733-8206
or
Bruce Jermeland, 3M, 651-733-1807

Source: 3M Public Relations and Corporate Communications
biz.yahoo.com

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From: richardred3/4/2008 12:41:44 PM
   of 6274
 
Record UK Takeover Spree in 4Q
Tuesday March 4, 11:47 am ET
UK Companies Set Record for Acquisitions Abroad in Fourth Quarter

LONDON (AP) -- Companies based in the United Kingdom went on a record-setting spree of acquisitions abroad during the fourth quarter of 2007, the government reported Tuesday.

The takeover of Alcan Inc. by Rio Tinto PLC, the Anglo-Australian conglomerate, in an 18.5 billion pound ($36.7 billion) deal accounted for most of the 25.8 billion pounds ($51.2 billion) total for the period, the Office for National Statistics said.

It was the highest quarterly figure since the agency began keeping records in 1969.

The quarterly figures vary widely. In the third quarter of last year, foreign acquisitions by UK companies were valued at 10.2 billion ($20.3 billion).

Acquisitions of UK companies by foreign companies were valued at 8.2 billion pounds ($16.3 billion) in the fourth quarter, down from 15.3 billion pounds ($30.4 billion) in the third quarter, the agency said.

biz.yahoo.com

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To: richardred who wrote (1650)3/4/2008 1:03:12 PM
From: richardred
   of 6274
 
Cardinal Health to Acquire Enturia
Tuesday March 4, 10:23 am ET
Cardinal Health to Pay $490 Million in Cash to Acquire Privately Held Enturia

DUBLIN, Ohio (AP) -- Cardinal Health Inc., a provider of health care products and services, said Tuesday it will acquire Enturia Inc. for $490 million in cash.

Privately held Enturia sells infection-prevention products under the ChloraPrep brand name.

ChloraPrep will be added to Cardinal Health's medical products and technologies segment.

Cardinal Health expects the acquisition to reduce earnings in 2008 before boosting earnings in 2009. Despite an expected reduction in 2008 earnings, Cardinal Health reiterated its earnings from continuing operations of $3.75 to $3.85 per share. That estimate includes the impact of the acquisition.

The deal is expected to close within two months.

Shares of Cardinal Health fell 62 cents to $58.50 in morning trading.

biz.yahoo.com

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From: richardred3/4/2008 1:21:53 PM
   of 6274
 
New buy on weakness CECO Environmental Corp. (CECE) 8.57

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To: richardred who wrote (1894)3/4/2008 1:26:20 PM
From: richardred
   of 6274
 
UFPT added today at 5.90

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From: richardred3/4/2008 1:57:39 PM
   of 6274
 
Sector Snap: Medical Diagnostics
Tuesday March 4, 12:02 pm ET
Lazard Capital Expects Hospital Demands for Better Tests to Drive Growth in Diagnostic Sector

NEW YORK (AP) -- Companies developing and selling medical diagnostic products will likely see future growth through the hospital industry, as the demand for better testing technology continues to increase.

The assessment, from Lazard Capital Markets analyst Jeffrey Frelick on Tuesday, singles out the need in many busy hospitals for more automated diagnostic systems and for faster results. Particularly, companies making tests that can be analyzed without being sent to an outside laboratory are gaining importance, as are molecular-based diagnostic tests.

"It appears that the clinical diagnostic industry fundamentals and industry drivers such as test volume increases, automation, molecular diagnostics and point-of-care, remain intact," he said, citing a recent visit to a large pediatric hospital.

He said diagnostics influence much of the health care decision-making process and that relationship will only grow stronger as the U.S. population ages. Also, the personalized medicine movement will become larger as pharmaceutical and diagnostics companies realign their businesses. Finally, companies seem to be increasing the number of tasks individual instruments can handle.

He reaffirmed a "Buy" rating for industry giant Beckman Coulter Inc., based in Fullerton, Calif. and for Franklin Lakes, N.J.-based Becton, Dickinson and Co. He also reaffirmed "Buy" ratings for Bethlehem, Pa.-based OraSure Technologies Inc. and South San Francisco, Calif.-based Monogram Biosciences Inc., which both focus on molecular diagnostics.

"Molecular diagnostic test expansion is the future of growth," Frelick said, citing the expanding types of information those tests can provide.

Only 15 percent of U.S. hospitals perform molecular diagnostic tests, leaving a lot of room for growth he said, and the tests themselves could help physicians prescribe more effective treatments based on individual patient characteristics. Meanwhile, constant laboratory challenges provide more opportunities for test developers to innovate. Laboratories are looking for answers to labor shortages, sample errors and costly new tests, he said.

Shares of Beckman Coulter fell 71 cents to $67.13, while shares of Becton, Dickinson and fell 58 cents to $89.63 in midday trading. Meanwhile shares of OraSure Technologies fell 1 cent to $6.96, while Monogram Biosciences fell 5 cents, or 3.5 percent, to $1.37.

Other companies poised to benefit from growing demand include San Diego-based Quidel Corp. which shed 27 cents to reach $15.67, and Madison, Wis.-based Third Wave Technologies Inc. which shed 2 cents to $7.91. Frelick reaffirmed a "Buy" rating for both companies, while reaffirming a "Hold" rating for San Diego-based Gen-Probe Inc., which fell 57 cents to $48.36.
biz.yahoo.com

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To: richardred who wrote (1830)3/5/2008 1:35:00 PM
From: richardred
   of 6274
 
Message 24371488

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From: richardred3/6/2008 9:51:11 AM
   of 6274
 
UPDATE 1-Deals of the day -- mergers and acquisitions
Thu Mar 6, 2008 5:52am EST

(Adds Enel, Consolidated Media Holdings, Stora Enso, Hennes & Mauritz and others)

March 6 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1030 GMT on Thursday. (For Reuters columns on deals, click on [DEALTALK/])

** Enel (ENEI.MI: Quote, Profile, Research) holds 59.8 percent of Russian power generator OGK-5 (OGKE.MM: Quote, Profile, Research) after a public buyout offer, paying 2.6 billion euros ($4 billion) for the stake, the Italian power company said.

To read more, please double click on [nL0614632]

** Australia's Consolidated Media Holdings Ltd (CMJ.AX: Quote, Profile, Research) said a partner in a planned A$3.3 billion ($3.1 billion) buyout of the firm had failed to secure funding, casting doubt on whether the deal will go ahead. [nSYD93184]

** Europe's top paper and board maker Stora Enso (STERV.HE: Quote, Profile, Research) said it had agreed to sell its merchant business Papyrus to private equity fund Altor Fund II for around 640 million euros ($971.7 million). [nWLB8206]

** UK-based oil explorer Afren Plc (AFRE.L: Quote, Profile, Research) said it had agreed to buy Devon Energy Corp's (DVN.N: Quote, Profile, Research) oil interests in Cote d'Ivoire for $205 million. [nWLB8203]

** Clothing giant Hennes & Mauritz (HMb.ST: Quote, Profile, Research) said it had agreed to buy 60 percent of Fabric Scandinavien, maker of a popular jeans brand in Sweden, for 564 million Swedish crowns ($91.5 million). [nL0623018]

** China Development Bank (CDB), a local partner of Barclays Plc (BARC.L: Quote, Profile, Research), has won government approval to buy a domestic financial leasing firm, part of Beijing's strategy to transform the lender into a commercial bank, a senior CDB executive said. [nPEK68611]

** Commercial Bank of Kuwait (CBKK.KW: Quote, Profile, Research) (CBK) is seeking to buy 70 percent of Yemen Gulf Bank, al-Qabas newspaper quoted the Kuwaiti bank's chief executive Jamal al-Mutawa as saying. [nL0626200]

** JFE Holdings Inc (5411.T: Quote, Profile, Research), the world's third-biggest steelmaker, said it would spend about 34.9 billion yen ($336 million) to take control of a shipbuilding venture with Hitachi Zosen Corp (7004.T: Quote, Profile, Research). [nT223779]

** Private equity firm Carlyle Group [CYL.UL] bought 30 properties in Finland for 216 million euros ($330.3 million) as it seeks to increase its exposure to high-yielding Nordic real estate markets. [nL06512911]

** Vivartia (VIVr.AT: Quote, Profile, Research), Greece's largest food group, said it signed a deal to buy U.S. biscuit and snacks producer Nonni's for $320 million as part of its expansion plans. [nL0676716]

** Greek buyout firm Marfin Investment Group (MIG) (MRFr.AT: Quote, Profile, Research) said it is taking a controlling stake in Croatian tourism group Sunce as part of its expansion plans. MIG will pay 155 million euros ($237 million) for a 75 percent stake in Sunce. [nL06381860]

** South Korean builder Hyundai Engineering & Construction (000720.KS: Quote, Profile, Research) is likely to go on sale this year, with completion targeted by the end of 2008, a main shareholder Korea Exchange Bank (KEB) said. [nSEO12960]

** Spain violated European Union law by placing conditions on a failed 42 billion euro ($64.2 billion) takeover of Spanish utility Endesa (ELE.MC: Quote, Profile, Research), the EU's highest court ruled. [nL06519366]

** South Korea's Kyobo Securities Co Ltd (030610.KS: Quote, Profile, Research) is a mulling rights offering, or combining with an outside partner to turn the broker Into a joint venture, its top shareholder said. [ID:nSEO253273]

** Telekom Malaysia Bhd (TLMM.KL: Quote, Profile, Research), the country's top phone company, said it plans to list its mobile phone business in the second quarter of this year, improving its ability to expand in Asia. [nKLR95834] (Compiled by Tina Kwan in Singapore, Ratul Ray Chaudhuri in Bangalore)

© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests.
reuters.com

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To: richardred who wrote (1956)3/6/2008 9:54:37 AM
From: richardred
   of 6274
 
Analogic to Buy Copley Controls for $69M
Thursday March 6, 8:38 am ET
Analogic to Buy Copley Controls for $68.8M, Expects Purchase to Add to Adjusted 2008 Earnings

PEABODY, Mass. (AP) -- Medical and security imaging equipment maker Analogic Corp. said Thursday it agreed to acquire Copley Controls Corp., which makes parts for MRI machines, for about $68.8 million in cash.

Analogic also will pay up to $1.8 million to reimburse Copley shareholders for acquisition-related taxes.

Analogic expects the acquisition to add to earnings beginning in the current fiscal year ending in July, excluding one-time acquisition costs. The company expects to gain over $85 million in revenue from the acquisition this year, compared with Copley's preliminary 2007 revenues of about $83 million.

Chief Executive Jim Green said the purchase will expand product offerings and add business from Asia.

Canton, Mass.-based Copley makes gradient amplifiers for MRI and precision motion control systems.

Analogic expects the deal to close in early April. The company will fund the purchase through available cash.

biz.yahoo.com

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To: richardred who wrote (1958)3/6/2008 10:02:16 AM
From: richardred
   of 6274
 
UFP Technologies Announces Record Profits for 2007
Thursday March 6, 8:23 am ET

GEORGETOWN, Mass.--(BUSINESS WIRE)--UFP Technologies, Inc. (Nasdaq: UFPT - News), a manufacturer of packaging and component products, today reported net income of $4.2 million, or $0.71 per diluted common share outstanding for its fiscal year ended December 31, 2007. This represents a substantial improvement over 2006 net income of $2.5 million or $0.45 per diluted common share outstanding. 2007 sales of $93.6 million were nearly equal to 2006 sales of $93.7 million. For its fourth quarter ended December 31, 2007, the Company reported net income of $1.8 million or $0.30 per diluted common share outstanding, roughly doubling its 2006 fourth quarter net income of $845,000, or $0.15 per diluted common share outstanding. Sales for the fourth quarter were $25.5 million, or 9.1% higher than 2006 fourth quarter sales of $23.3 million.

“I am very pleased with our performance in 2007,” said R. Jeffrey Bailly, Chairman, CEO and President. “Our record profits are largely due to success in improving the quality of our book of business, combined with a continued reduction in our manufacturing costs. We replaced lower margin business with higher value, higher margin applications, while our manufacturing initiatives helped to streamline operations, increase efficiencies, and improve our competitive position.”

“I am also excited about our recent acquisition of Stephenson & Lawyer (“S&L”),” Mr. Bailly continued. “In addition to the strategic importance of S&L’s complementary products, this move should foster top-line growth and allow us to further leverage our size and national presence. Our combined management teams have already made great progress integrating the two organizations, improving S&L’s operating margins, and rejuvenating its new business pipeline.”

UFP Technologies is a leading designer and manufacturer of interior protective packaging solutions using molded fiber, vacuum-formed plastics, and molded and fabricated foam plastics. The Company also designs and manufactures engineered component solutions using laminating, molding, and fabricating technologies. The Company primarily serves the automotive, computers and electronics, medical, aerospace and defense, consumer, and industrial markets.

This news release contains forward-looking information that involves risks and uncertainties, including statements about the Company’s prospects, anticipated advantages the Company expects to realize from its acquisition and integration of Stephenson & Lawyer, the Company’s growth potential and the Company’s strategies for growth, including by way of acquisition. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation risks associated with the identification of suitable acquisition candidates and the successful, efficient execution of acquisition transactions and integration of any such acquisition candidates, including Stephenson & Lawyer, as well as other risks and uncertainties that are detailed in the documents filed by the Company with the SEC. Accordingly, actual results may differ materially. Readers are referred to the documents filed by the Company with the SEC, specifically the last reports on Forms 10-K and 10-Q. The forward-looking statements contained herein speak only of the Company’s expectations as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Consolidated Condensed Statements of Income

($ in thousands, except Per Share data)

Three Months Ended Twelve Months Ended
(unaudited)
31-Dec-07 31-Dec-06 31-Dec-07 31-Dec-06
Net sales $ 25,465 $ 23,337 $ 93,595 $ 93,749
Cost of sales 18,342 18,445 70,785 74,512
Gross profit 7,123 4,892 22,810 19,237
SG&A 4,139 3,360 15,563 14,183
Operating income 2,984 1,532 7,247 5,054
Interest expense, other income & expenses 82 217 504 1,046
Income before income taxes 2,902 1,315 6,743 4,008
Income taxes 1,125 470 2,584 1,493
Net income $ 1,777 $ 845 $ 4,159 $ 2,515
Weighted average shares outstanding 5,375 5,151 5,307 5,023
Weighted average diluted shares outstanding 6,022 5,686 5,861 5,571
Per Share Data
Net income per share outstanding $ 0.33 $ 0.16 $ 0.78 $ 0.50
Net income per diluted share outstanding $ 0.30 $ 0.15 $ 0.71 $ 0.45

Consolidated Condensed Balance Sheets

($ in thousands)

31-Dec-07 31-Dec-06
Assets:
Current assets $ 28,575 $ 20,374
Net property, plant, and equipment 9,492 10,137
Other assets 7,486 8,526
Total assets $ 45,553 $ 39,037
Liabilities and stockholders' equity:
Current liabilities $ 13,623 $ 12,138
Long-term debt 6,271 6,921
Other liabilities 1,416 1,353
Total liabilities $ 21,310 $ 20,412
Total stockholders' equity 24,243 18,625
Total liabilities and stockholders' equity $ 45,553 $ 39,037

Contact:

UFP TECHNOLOGIES, INC.
Ron Lataille, 978-352-2200
www.ufpt.com

Source: UFP Technologies, Inc.
biz.yahoo.com

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