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   Strategies & Market TrendsSpeculating in Takeover Targets

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To: richardred who wrote (1995)3/12/2008 12:51:54 AM
From: richardred
   of 6955
Chinese Medical Firm Buys Into U.S.
March 12, 2008; Page A4

HONG KONG -- Mindray Medical International Ltd., one of China's top medical-device makers, will acquire Datascope Corp.'s patient-monitoring business for $202 million, as the company strives to become an international player.

The deal between Mindray, of Shenzhen, China, and Datascope, of Montvale, N.J., comes as Chinese health-care companies increasingly look to overseas markets to build on profits made on low-cost manufacturing at home.

The purchase of the Datascope business, which had revenue of $161.3 million last year, will give Mindray access to Datascope's network of sales and service representatives, some 90 people who peddle the company's products to hospitals and surgery centers across the U.S. Building that kind of network from scratch would have been a challenge, said Joyce Hsu, Mindray's chief financial officer.

"We will be able to acquire a very large and established sales and distribution network in the U.S.," she said in an telephone interview yesterday.

Datascope wasn't available to comment.

Mindray, founded in 1991, makes patient monitors, blood analyzers, ultrasound equipment and other devices.

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To: richardred who wrote (1987)3/13/2008 12:15:16 PM
From: richardred
   of 6955
Electronic Arts Goes Hostile on Take-Two
Thursday March 13, 12:00 pm ET
Electronic Arts Takes Its Unsolicited $2B Bid for Take-Two to Its Rival's Shareholders

REDWOOD CITY, Calif. (AP) -- Video game maker Electronic Arts Inc. said Thursday that it has launched a hostile $2 billion tender offer for rival Take-Two Interactive Software Inc., the publisher of "Grand Theft Auto" and other video games.

The move takes the offer directly to Take-Two's shareholders after Take-Two rejected the offer late last month.

At the time, Take Two had said it was open to talks with Electronic Arts but wanted to wait until April 30, the day after the latest version of Grand Theft Auto hits store shelves.

The $26 per share cash tender offer from an Electronic Arts' subsidiary represents a 4 percent premium to Take-Two's closing stock price of $24.91 on Wednesday and a 64 percent premium to the company's Feb. 15 closing stock price, which was the last trading day prior to Electronic Arts' revised offer.

The tender offer, which is not contingent on financing, is set to expire at midnight on April 11, unless extended. Take-Two's annual shareholders' meeting is expected to take place on April 10.

Take-Two shares rose 53 cents, or 2.1 percent, to $25.44 in midday traduing, while Electronic Arts shares dropped 69 cents, or 1.5 percent, to $46.54.

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To: richardred who wrote (1909)3/13/2008 12:20:47 PM
From: richardred
   of 6955
AOL Buying Bebo for $850 Million
Posted Mar 13, 2008 09:57am EDT by Robert Andrews in Investing, Internet, Venture Capital, M and A, IPOs
Related: twx, nws, goog, via, yhoo

From, March 12, 2008:

In a major and rather unexpected deal, AOL (NYSE: TWX) is buying social net Bebo for $850 million in cash. Rumors had swirled around Bebo of either an acquisition or new financing for weeks, but few anticipated AOL as the suitor. AOL will get Bebo’s 40 million members and 80 million unique users, its core 13-to-24 demographic and a growing line in both original TV production and hosting broadcasters’ content. This comes as AOL completes its transition from an access business to an ad-funded content and community player.

Bebo president Joanne Shields, who has grown to effectively run Bebo from London since she was hired from Google (NSDQ: GOOG) in January ‘07, “will continue to run Bebo and will report to Ron Grant”, the announcement says. But there’s no mention of site founders Michael or Xochi Birch, who are based in what is technically Bebo’s headquarters in San Francisco. Shields is not in the UK today and will be on a joint AOL-Bebo call at 9am EST.

AOL CEO Randy Falco: “Bebo is the perfect complement to AOL’s personal communications network and puts us in a leading position in social media. What drew us to Bebo was its substantial and fast-growing worldwide user-base, its vision of a truly social web, and the monetization opportunities that leverage Platform-A (AOL’s ad system) across our combined global audience. This positions us to offer advertisers even greater reach and marketers significant insights into the desires and needs of consumers.” Shields says the acquisition is “a natural progression” for Bebo because the pair share “one and the same vision in this area” of leveraging social networks.

- Suitors: This price is considerable when you consider News Corp (NYSE: NWS) paid $580 million for MySpace in 2005, when it had 27 million unique monthly users. In the last couple of months, rumors had linked Google and News Corp to a potential acquisition, but this buy is far less than the unlikely $1 billion recently mooted. Rupert Murdoch was reportedly spotted at Bebo in SF in January with a view to either buy or invest, but its press people explained the apparent untruth away to me as office high jinx, adding it’s “always open to talks” on funding. Viacom (NYSE: VIA) was also linked with a $750 million purchase.

- Advertising: Bebo claims high user engagement, with an average 78 pages per user per day, and 33 minutes. But Yahoo (NSDQ: YHOO) inked a deal with Bebo in September to manage the social net’s UK and Ireland display and video ads as well as integrate its Yahoo Answers platform - it will be interesting to see whether AOL’s Platform-A will now oust Yahoo as the ad supplier, and this brings ongoing Yahoo-AOL discussions in to sharp relief.

Curiously, AOL used the announcement to tout its Open AIM instant messenger initiative - curious because Bebo already added AIM support to its Windows Live Messenger functionality in October.

Bebo is especially popular in the UK, Ireland and New Zealand and has over 100 staff across its London, San Francisco and Austin offices. No word yet on whether Bebo will stay put or move to AOL’s HQ.

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To: richardred who wrote (1893)3/13/2008 12:39:58 PM
From: richardred
   of 6955
York Label Acquires Etiprak, S.A. and Etiquetas Industriales, Ltda.
Thursday March 13, 12:03 pm ET

OMAHA, Neb., March 13 /PRNewswire/ -- York Label announced Tuesday, March 11, it has acquired Etiprak, S.A. through its Cameo-Marinetti joint venture, and a 50% interest in Etiquetas Industriales Ltda., both located in Santiago, Chile.

These Chilean acquisitions provide the platform for York Label to continue its aggressive expansion path to become a global provider of premium and innovative labeling solutions. Combined with our existing Cameo-Marinetti joint venture, these acquisitions create the largest single provider of label products in the Chilean market.

Founded in 1982, Etiprak was the first Chilean company to produce pressure sensitive labels for the wine industry. Recognized for its high quality products and tremendous customer service reputation, Etiprak focuses primarily on the wine & spirits and consumer products markets, its customers include several major Fortune 100 Companies. In 2007, the company began the manufacturing of decorative shrink sleeve labels. Etiprak employs state-of-the-art equipment and technology which features high-end combination flexo, screen, foil stamping, embossing and laminating.

Etiquetas Industriales produces premium pressure sensitive labels primarily for the consumer products market. Launched in 2006 by Marinetti Packaging, the company employs the latest cutting edge manufacturing technologies and provides York Label entry into the South American consumer products market.

Rich Egan, President and CEO of York Label stated, "We are extremely pleased to announce the acquisition of Etiprak and Etiquetas Industriales. These new partnerships provide York Label a commanding leadership position in the Chilean wine & spirits market. We expect to continue executing our strategy to expand our platform to become a preeminent global provider of premium labeling solutions to the consumer products, wine & spirits, pharmaceutical, and food & beverage markets."

About York Label (

Omaha, Nebraska based York Label is a leading provider of high quality, innovative labeling technologies to major global consumer goods, wine & spirits, pharmaceutical and food & beverage companies. The Company has thirteen state-of-the-art production facilities with over 800 employees throughout North and South America.

Source: York Label

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To: richardred who wrote (1996)3/13/2008 12:42:12 PM
From: richardred
   of 6955
B&B Air to Acquire Five Aircraft, Increasing Portfolio to 59 Aircraft
Thursday March 13, 12:00 pm ET

DUBLIN, Ireland, March 13 /PRNewswire-FirstCall/ -- Babcock & Brown Air Limited (NYSE: FLY - News; "B&B Air"), a global lessor of commercial jet aircraft, announced today that it has acquired five additional aircraft, increasing its portfolio to a total of 59 acquired and committed aircraft.

The five new aircraft include:
-- One Airbus A319-112 on lease to Virgin America (US)
-- One Airbus A330-200 on lease to LTU (Germany)
-- Two Boeing 757-200s on lease to Icelandair (Iceland)
-- One Boeing 777-200ER on lease to KLM (Netherlands)

The five aircraft, on lease to four airlines in two continents, cost approximately $265 million. The acquisitions are being funded from the Company's five-year, $1.1 billion acquisition credit facility. When combined with the seven purchases announced in December 2007, B&B Air's acquisitions now total $513 million since the company completed an IPO on the NYSE in September 2007.

"These five aircraft on lease to four airlines represent another significant step for B&B Air, following the acquisitions we announced on December 12th," said Colm Barrington, CEO of B&B Air. "We have continued to find attractive deals that are enhancing the diversity of our aircraft portfolio and lessee base while increasing our distributable cash flow per share. The financial and management structures we put in place for B&B Air are already showing positive results and we are confident that we can continue to produce attractive returns for our shareholders."

Since its launch last year, B&B Air has increased its portfolio by 26% to 59 aircraft and has increased its annualized contracted base lease rentals by nearly 40% to over $200 million.

The weighted average age of the five additional aircraft is 5.0 years and the weighted average remaining lease terms are 6.9 years. Following acquisition of the additional aircraft the weighted average age of B&B Air's portfolio will be 6.2 years and the weighted average remaining lease terms will be 6.4 years, both as of April 1, 2008.

About Babcock & Brown Air Limited

Babcock & Brown Air acquires and leases commercial jet aircraft. B&B Air was formed by Babcock & Brown Limited (ASX: BNB - News), a global investment and advisory firm with more than 25 years of experience in aircraft leasing and financing. B&B Air leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. B&B Air's strategy is to grow its portfolio through accretive acquisitions of leased aircraft and to increase its distributable cash flows and quarterly dividends. For more information, visit

Caution Concerning Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts, as well as statements identified by words such as "expects," "anticipates," "intends," plans," "believes," "seeks," "estimates," or words of similar meaning. These statements are based on current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond B&B Air's control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

Matt Dallas
Babcock & Brown
+ 1 212-796-3918

Source: Babcock & Brown Air

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To: richardred who wrote (1996)3/13/2008 1:48:11 PM
From: richardred
   of 6955
Added to UFPT today at 6.60.

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To: richardred who wrote (1948)3/14/2008 12:48:13 AM
From: richardred
   of 6955
Gibraltar Packaging Group, Inc. Announces Definitive Merger Agreement
Thursday March 13, 7:37 pm ET

HASTINGS, Neb.--(BUSINESS WIRE)--Gibraltar Packaging Group, Inc. (Pink Sheets: PACK - News) today announced that it has entered into a definitive agreement and plan of reorganization, merger and dissolution with Rosmar Packaging Group, Inc., a leader in the packaging and printing industry in North America.

Under the terms of the agreement, a newly-formed corporation to be owned by the current stockholders of Gibraltar will become a wholly-owned subsidiary of Rosmar, the stockholders of such newly-formed corporation will receive $4.25 in cash, without interest, for each share they own at the effective time of the merger and Gibraltar will dissolve.

The transaction is expected to be completed during the second quarter of this year, subject to receipt of Gibraltar stockholder approval and Rosmar obtaining financing to complete the transaction.

In connection with the proposed transaction, Gibraltar will mail a proxy statement to its stockholders. Stockholders are advised to read the proxy statement because it contains important information about the proposed transaction.

Duff & Phelps acted as financial advisor to the Board of Directors of Gibraltar and has delivered a fairness opinion to the Board. Greenberg Traurig, LLP is acting as legal advisor to Gibraltar and Gowling Lafleur Henderson LLP and Torys LLP are acting as legal advisors to Rosmar.

About Gibraltar Packaging Group, Inc.

Gibraltar Packaging Group, Inc. designs and manufactures specialty packaging products in facilities located in Nebraska and North Carolina, and markets these products primarily to consumers throughout the United States. Gibraltar’s products include folding cartons, specialty laminated containers and flexible packaging for a wide variety of businesses.

About Rosmar Packaging Group, Inc.

Rosmar is a Novacap II, LP portfolio company headquartered near Montreal, Quebec. It operates plants in Baie d’Urfé (Quebec), Hamilton (Ontario), Phoenix (Arizona) and High Point (North Carolina). Rosmar is a leader in the packaging and printing industry in North America and with this transaction it solidifies its business platform to become a significant independent player in the value-added folding carton, packaging and printing industry in the North American marketplace. Beyond being a printer of distinction, Rosmar analyses, designs and manufactures cardboard packaging for a wide variety of products in industries as diverse as pharmaceutical, food and beverage, confectionary, houseware, hardware, automotive, medical, textile, personal care, pet products and toys.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements based on current Gibraltar management expectations. These forward-looking statements include all statements other than those made solely with respect to historical fact. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. These factors include, but are not limited to, (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (2) the outcome of any legal proceedings that may be instituted against Gibraltar and others following announcement of the merger agreement; (3) the inability to complete the merger due to the failure to obtain stockholder approval or the failure to satisfy other conditions to completion of the merger; (4) the failure to obtain the necessary debt financing arrangements set forth in the commitment letter received by Rosmar in connection with the merger; (5) risks that the proposed transaction disrupts current plans and operations; (6) the ability to recognize the benefits of the merger; and (7) the amount of the costs, fees and expenses related to the merger. Many of the factors that will determine the outcome of the subject matter of this press release are beyond Gibraltar’s ability to control or predict. Gibraltar undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.


Gibraltar Packaging Group, Inc.
Brett Moller, 402-462-7510
VP Finance
Rosmar Packaging Group, Inc.
Domenic Mancini, 450-651-5000, ext. 238

Source: Gibraltar Packaging Group, Inc.

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To: richardred who wrote (1068)3/14/2008 12:49:37 AM
From: richardred
   of 6955
CTS to Buy Orion Manufacturing for $10M
Thursday March 13, 6:29 pm ET
CTS Will Acquire Orion Manufacturing for About $10 Million in Cash

ELKHART, Ind. (AP) -- CTS Corp., which makes electronic components, on Thursday said it agreed to acquire Orion Manufacturing Inc. for about $10 million in cash.

Under terms of the deal, privately held Orion, a contract electronics manufacturer, could also receive up to $1.75 million in cash if it achieves financial targets in 2008 and 2009.

CTS expects the acquisition to help earnings after one year.

CTS said Orion will be combined with its electronics manufacturing business, based in Moorpark, Calif.

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From: richardred3/14/2008 12:55:27 AM
   of 6955
Bosch Acquires Accu Industries Inc. in the U.S.
Thursday March 13, 4:30 pm ET
- Accu Industries: roughly $16 million sales, 45 associates
- Addition to the Diagnostics business unit of the Bosch Automotive Aftermarket division
- Broader distribution base strengthens workshop equipment business in North America

STUTTGART, Germany, March 13 /PRNewswire/ -- The Bosch Group is acquiring the operating assets of Accu Industries Inc. in Ashland, Virginia. An agreement to this effect was signed on March 12, 2008. It has been agreed that the purchase price will not be disclosed. The acquisition is expected to close before the end of April 2008.

Accu Industries employs 45 associates and generated sales of roughly $16 million (approximately 11.7 million euros) in 2007. The company sells tire changers, wheel balancers, and wheel alignment equipment. With the acquisition, Bosch is strengthening its Automotive Aftermarket division, and further expanding the workshop equipment business of its Diagnostics business unit. "Above all, we want to improve the distribution and service offered by our Bosch Diagnostics business unit in North America. In this market, Accu Industries is well established in the aftersales segment, and is therefore a logical extension to the business we already have in the U.S.," says Hans- Peter Meyen, member of the executive management of the Automotive Aftermarket division.

Accu Industries will become an integral part of the existing Bosch Diagnostics business in the United States. The President of Accu Industries, Tommy Saunders, will remain with the company in a senior management position.

In the future, Accu Industries is to assume responsibility for wheel and tire service in the U.S., in the area of both sales and technical support. Even today, the company works together with more than 70 sales representatives and 200 authorized service centers in the area of workshop equipment. The assembly activities of Accu Industries will also be an addition to the global production network of Bosch Diagnostics.

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 260,000 associates generated sales of 43.7 billion euros in fiscal 2006. The Bosch Group comprises Robert Bosch GmbH and its roughly 300 subsidiary and regional companies in over 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spends more than three billion euros each year for research and development, and in 2006 applied for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and Electrical Engineering."

In North America, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial automation and mobile products, power tools and accessories, security technology, thermo-technology, packaging equipment and household appliances. Bosch employs 24,750 associates in more than 80 primary and 20 associated facilities throughout the region. For more information on the company, visit or

Source: Robert Bosch LLC

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From: richardred3/14/2008 12:56:25 AM
   of 6955
Chinese Steel Company Bids for Midwest
Thursday March 13, 11:48 pm ET
Sinosteel Bids for Midwest in First Chinese Hostile Takeover Bid in Australia

SYDNEY, Australia (AP) -- China's state-backed Sinosteel Corp. launched a $1.1 billion takeover bid Friday for iron ore miner Midwest Corp. Ltd. in the first hostile approach by a Chinese company for an Australian one.

Sinosteel, China's No. 2 iron ore importer, said it is offering 1.2 billion Australian dollars, or 5.60 for each Midwest share, a 35 percent premium to Midwest's closing price Thursday. Midwest shares surged more than 30 percent Friday to as high as 5.48 Australian dollars.

"It's time Midwest shareholders had the opportunity to decide for themselves the value of their investment in Midwest," Sinosteel President Tianwen Huang said in a statement.

The hostile bid and the strong language used by the Sinosteel boss illustrate how keen China is to get a foothold in Australia's resource sector as demand and prices for raw materials surge.

Sinosteel already holds a 19.9 percent interest in Midwest, which is planning a 15 million metric ton (16.5 million U.S. tons) per year iron ore project in Western Australia state to shore up its iron ore supply.

Sinosteel's offer has Foreign Investment Review Board approval, giving it a green light from the federal government.

Midwest advised its shareholders to take no action on the offer until the company has had time to consider the bid, and reminded shareholders it rejected as too low an earlier informal bid made by Sinosteel in December at the same share price.

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