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   Strategies & Market TrendsSpeculating in Takeover Targets


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To: richardred who wrote (2015)3/22/2008 10:52:22 AM
From: richardred
   of 6272
 
Schulman hires help for strategy

UBS Investment Bank to aid in looking at sale, merger, boosting stock

By Jim Mackinnon
Beacon Journal business writer

Published on Tuesday, Mar 18, 2008

A. Schulman Inc. has hired UBS Investment Bank to help decide whether to put the Fairlawn polymer company up for sale, merge with another firm or to make a major acquisition.

Schulman, a $1.8 billion-a-year plastics compounder and resin maker, on Monday said UBS will act as its strategic financial advisor.

''This is the latest step in the ongoing process of evaluating all alternatives available to the company to maximize stockholder value,'' Joseph M. Gingo, chairman, president and chief executive officer, said in a prepared statement. ''We will also continue to move ahead with our operational initiatives to transform our business and position A. Schulman for long-term, profitable growth.''

The announcement is part of a plan pushed by dissident shareholders and hedge funds to improve A. Schulman's profitability and boost its stock price.

Gingo, a former top Goodyear executive and Schulman director, was hired effective Jan. 1 to run the company. His predecessor, long-time CEO and Chairman Terry Haines, retired as part of an agreement with shareholder Jim Mitarotonda, a Schulman director and hedge fund manager who owns a significant amount of shares. As part of that agreement, the company agreed to explore strategic options, including putting A.

Schulman up for sale.

Another significant shareholder, hedge fund Ramius Capital Group, has been pressuring company management to make changes, including exploring a sale, to increase the stock price. The fund waged a successful proxy contest earlier this year to elect two of its nominees to the Schulman board.

Shares of Schulman fell 30 cents to $19.75 on Monday. Shares are down 7.7 percent since Jan. 1, including reinvested dividends, and are down 2.6 percent from a year ago.

Shortly after becoming CEO, Gingo announced a 100-day plan to improve Schulman's performance.

The plan calls for more efficient North American manufacturing, including potential restructuring; more focus on Schulman's ''polybatch'' and engineered compounds segments; the reassessment of North American automotive operations; suspension of capital expenditures on its new multilayer plastic ''Invision'' sheet product until it gets a better marketing strategy; changes in European sales and administrative operations, and the examination of Schulman's leadership team.

As part of that, the company in February announced it will close a factory in St. Thomas, Ontario, and sell its Orange, Texas, facility to consolidate production and exit low-margin businesses.

The moves are expected to save $6 million to $7 million in fiscal 2009 and an estimated $9 million to $10 million annually in fiscal 2010.

Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.

A. Schulman Inc. has hired UBS Investment Bank to help decide whether to put the Fairlawn polymer company up for sale, merge with another firm or to make a major acquisition.

Schulman, a $1.8 billion-a-year plastics compounder and resin maker, on Monday said UBS will act as its strategic financial advisor.

''This is the latest step in the ongoing process of evaluating all alternatives available to the company to maximize stockholder value,'' Joseph M. Gingo, chairman, president and chief executive officer, said in a prepared statement. ''We will also continue to move ahead with our operational initiatives to transform our business and position A. Schulman for long-term, profitable growth.''

The announcement is part of a plan pushed by dissident shareholders and hedge funds to improve A. Schulman's profitability and boost its stock price.

Gingo, a former top Goodyear executive and Schulman director, was hired effective Jan. 1 to run the company. His predecessor, long-time CEO and Chairman Terry Haines, retired as part of an agreement with shareholder Jim Mitarotonda, a Schulman director and hedge fund manager who owns a significant amount of shares. As part of that agreement, the company agreed to explore strategic options, including putting A.

Schulman up for sale.

Another significant shareholder, hedge fund Ramius Capital Group, has been pressuring company management to make changes, including exploring a sale, to increase the stock price. The fund waged a successful proxy contest earlier this year to elect two of its nominees to the Schulman board.

Shares of Schulman fell 30 cents to $19.75 on Monday. Shares are down 7.7 percent since Jan. 1, including reinvested dividends, and are down 2.6 percent from a year ago.

Shortly after becoming CEO, Gingo announced a 100-day plan to improve Schulman's performance.

The plan calls for more efficient North American manufacturing, including potential restructuring; more focus on Schulman's ''polybatch'' and engineered compounds segments; the reassessment of North American automotive operations; suspension of capital expenditures on its new multilayer plastic ''Invision'' sheet product until it gets a better marketing strategy; changes in European sales and administrative operations, and the examination of Schulman's leadership team.

As part of that, the company in February announced it will close a factory in St. Thomas, Ontario, and sell its Orange, Texas, facility to consolidate production and exit low-margin businesses.

The moves are expected to save $6 million to $7 million in fiscal 2009 and an estimated $9 million to $10 million annually in fiscal 2010.

Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
ohio.com

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To: richardred who wrote (1997)3/22/2008 11:09:10 AM
From: richardred
   of 6272
 
Datascope Investors Support Sale of Unit

NEW YORK — A group of Datascope Corp. shareholders, including Ramius LLC, support the planned sale of the medial device company's patient-monitoring business, according to a Securities and Exchange Commission filing on Tuesday.

Earlier this month, Datascope said it agreed to sell the business to China's Mindray Medical International Ltd. for $202 million in cash.

In the filing, the Ramius group said the deal "provides for significant value for the patient monitoring business" and represents "the best interest of all shareholders."

Ramius also expressed support for the company's plan to return the proceeds to shareholders through stock buybacks, special dividends or a combination. Ramius and the other investors reserved the right to discuss those options with the company's management and board.

Ramius said the shareholders expects Datascope's management and board "will continue to explore opportunities" to maximize shareholder value.

Last year, Ramius successfully gained a seat on the company's board after a proxy contest. The investment manager owns about 1 million Datascope shares, representing a 6.7 percent stake in the Montvale, N.J.-based company.

Datascope shares gained 75 cents to $39.71 in afternoon trading.
chron.com

________________________________________________________________________


DJ Ramius Reports Datascope Stake >DSCP

Source: DJ
Date: 03/18/08

03/18 10:18 *DJ Ramius Reports Datascope Stake >DSCP


(MORE TO FOLLOW) Dow Jones Newswires

03-18-08 1018ET

Copyright (c) 2008 Dow Jones & Company, Inc.
03/18 10:19 *DJ Ramius Capital Reports 6.7% Datascope Corp Stake >DSCP


(MORE TO FOLLOW) Dow Jones Newswires

03-18-08 1019ET

Copyright (c) 2008 Dow Jones & Company, Inc.
03/18 10:22 *DJ Ramius Supports Datascope Returning Cash To Shareholders DSCP


(MORE TO FOLLOW) Dow Jones Newswires

03-18-08 1022ET



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To: richardred who wrote (1934)3/22/2008 11:39:59 AM
From: richardred
   of 6272
 
Name Shares of
Common Stock % of Class of
Common

Gabelli Funds

438,060
1.47%
GAMCO 1,473,795 4.93%

GSI
2,000
0.01%

Teton Advisors
9,907
0.03%

Form: SC 13D/A Filing Date: 3/19/2008

________________________________________________________________

yahoo.brand.edgar-online.com

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To: richardred who wrote (2019)3/24/2008 1:15:14 PM
From: richardred
   of 6272
 
SEH-

seekingalpha.com

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To: richardred who wrote (2002)3/24/2008 6:32:51 PM
From: ~digs
   of 6272
 
UFPT - good timing on your add sir..

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From: richardred3/25/2008 12:54:11 AM
   of 6272
 
American Banknote (ABnote) Acquires Keystone Manufacturing (Plastics) Limited
Monday March 24, 1:44 pm ET
Expands into Canadian Card Manufacturing Arena
ABnote Increases Capacity and Broadens Worldwide Footprint

FORT LEE, N.J.--(BUSINESS WIRE)--American Banknote Corporation, parent of the ABnote Group, announced today that it has acquired Keystone Manufacturing (Plastics) Ltd., of Toronto, Canada, for an undisclosed amount of cash.

The acquisition of Keystone, one of Canada’s premier plastic card companies, provides the world-wide ABnote Group access to Keystone’s richly diversified suite of customers, along with the ability to take advantage of Keystone’s highly regarded reputation in smart cards. In addition, ABnote announced Bud Kronenberg would remain at the helm of the company together with the current management team.

As a result of the transaction, Keystone will gain immediate access to a wide range of new technologies including Arthur Blank’s “green” initiatives. Keystone will supplement its existing product lines through ABnote’s global strength in secure card issuance and cutting-edge identification products, as well as through its complimentary secure printing, warehousing, fulfillment services and information technology.

“We are extremely proud to be able to acquire a company of the quality, experience and stature of Keystone,” stated Steven Singer, Chairman and Chief Executive of American Banknote Corporation. “Keystone allows us to enter Canada at a very exciting time as the banking community migrates towards EMV and as cross border identification becomes paramount between the USA and Canada”.

“Keystone has built a unique brand in Canada - being able to leverage the dominant skill sets and exceptional knowledge base that ABnote has attained means that Keystone will be able to become an even more significant force in the Canadian marketplace”, stated Bud Kronenberg, CEO of Keystone. “It is with a great sense of pride that my team joins forces with a market leader”.

About American Banknote Corporation

American Banknote Corporation is a holding company and the parent of the ABnote Group, which operates through its subsidiary companies: American Banknote S.A. in Brazil, Leigh Mardon in Australia, ABnote NZ in New Zealand, CPS Technologies in France, ABnote Europe, s.r.o. in the Czech Republic, and American Bank Note Company and Arthur Blank & Co. in the United States. For more information on American Banknote, visit www.americanbanknote.com or call 201-592-3400. For more information on all of Keystone’s card products, visit www.keystoneplastics.com or call 416-293-3842.
biz.yahoo.com

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From: richardred3/25/2008 7:32:16 AM
   of 6272
 
EXCLUSIVE - UAE, Qatar to set up $2 bln acquisition fund
Tue Mar 25, 2008 12:44pm IST

By Simon Webb

DUBAI (Reuters) - Abu Dhabi government-owned IPIC and Qatar Investment Authority (QIA) will establish a $2 billion fund for global acquisitions, the managing director of IPIC said on Tuesday.

"We plan to invest in all sectors, including oil and petrochemicals," Khadem al-Qubaisi told Reuters by telephone in an interview.

The fund could thus mark a new direction for the International Petroleum Investment Co (IPIC), which until now has limited its investments to the energy sector.

IPIC is an investment vehicle for the government of Abu Dhabi, which controls more than 90 percent of the United Arab Emirates' oil reserves.

QIA is Qatar's sovereign wealth fund. Its assets stand at around $60 billion, according to an estimate by Standard Chartered.

"We will look at any opportunities where we can make money and add value. That could be anywhere -- the Middle East, Asia, Africa, Europe and the United States," Qubaisi said.

The new fund has yet to identify any specific targets, he said.

IPIC and QIA will each invest $1 billion in the fund initially, Qubaisi said. Investment will be leveraged to maximise acquisition potential, and the fund will be operating in about six months, he said.

IPIC and QIA investment in the fund will likely be increased later.

"We will be conservative with the first investments and build carefully," he said. "You cannot be aggressive from day one."

Sovereign funds from the Middle East, Asia, Russia and China have poured billions of dollars into large stakes in Wall Street firms, arousing concern among U.S. lawmakers that politics may be influencing investments.

U.S. and Abu Dhabi officials agreed last week on a set of principles for the funds to keep politics out of decisions.

The Abu Dhabi Investment Authority (ADIA) is thought to be the largest sovereign fund in the world, controlling assets of over $800 billion. The UAE is the world's fifth-largest oil exporter, and its government has reaped the windfall from a five-fold increase in crude prices since 2002.

Funds including QIA and ADIA have helped rescue struggling Western banks in recent months.
in.reuters.com

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From: richardred3/25/2008 7:43:10 AM
   of 6272
 
Bank of China says to pursue M&A abroad in 2008
Tue Mar 25, 2008 6:44am EDT

BEIJING (Reuters) - Bank of China (3988.HK: Quote, Profile, Research) (601988.SS: Quote, Profile, Research), the country's premier foreign exchange lender, expects growth of new loans in 2008 to roughly match last year's 13 percent, and said it intended to actively pursue overseas acquisitions this year.

The bank on Tuesday posted slim fourth-quarter net profit growth of 3.9 percent after booking $1.3 billion of 2007 pro
reuters.com

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From: richardred3/25/2008 7:45:11 AM
   of 6272
 
UPDATE 1-Deals of the day -- mergers and acquisitions
Tue Mar 25, 2008 5:17am EDT

March 25 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Tuesday.

(For Reuters columns on deals, click on [DEALTALK/])

** ArcelorMittal SA (ISPA.AS: Quote, Profile, Research) (MT.N: Quote, Profile, Research), the world's largest steelmaker, said it will increase to 49.95 percent its stake in Noble International Ltd (NOBL.O: Quote, Profile, Research), a provider of parts, component assemblies and services to the auto industry. [nWEN4651]

** Packaging firm Ess Dee Aluminium's (ESDA.BO: Quote, Profile, Research) founder said he has pledged 22.5 percent of his stake to IL&FS Trust for 1 billion rupees as a guarantee for the revival of ailing India Foils (IFLS.BO: Quote, Profile, Research). [nBOM31838]

** Fuels and petrochemicals group Sasol (SOLJ.J: Quote, Profile, Research) will sell a 10 percent stake to black investors in South Africa's biggest black economic empowerment transaction to date worth 25.9 billion rand ($3.19 billion). To read more, please double click on [nWEB9530]

** Oil tanker group Frontline (FRO.OL: Quote, Profile, Research) said it and firms directly controlled by its main owner John Fredriksen have a 5.2 percent stake in Overseas Shipholding Group (OSG.N: Quote, Profile, Research) and a forward contract on 4.4 percent more. [nL25161775]

** Inchcape Plc (INCH.L: Quote, Profile, Research) said it bought remaining 24.9 percent stake in its St Petersburg business, in continued expansion into Russia, for a total cash consideration of $54.8 million from existing facilities. [nWLB8941]

** Polish insulin maker Bioton BOTN.WA said it had put on hold its acquisition of Ukrainian firm Indar after it learnt the Ukrainian state had lost control over the stake it had sought. [nL25273784] (Compiled by Neetha Mahadevan in Bangalore)
reuters.com

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From: richardred3/25/2008 7:56:17 AM
   of 6272
 
Chinalco may spend over $4 bln for acquisitions
Mon Mar 24, 2008 8:55pm EDT

HONG KONG, March 25 (Reuters) - China's state-owned aluminium giant Chinalco may spend 20-30 billion yuan ($2.82-4.23 billion) or more this year on acquisitions at home and abroad, the South China Morning Post reported on Tuesday.

"The group will focus on resources acquisition and control both in China and overseas," Chinalco's president, Xiao Yaqing, told the paper. "The investment may be even bigger than between 20-30 billion yuan."

Xiao did not disclose specific targets but told the paper non-ferrous metals would be the main focus.

Chinalco last month teamed up with Alcoa (AA.N: Quote, Profile, Research) from the United States to buy a $14 billion stake in Rio Tinto Plc (RIO.L: Quote, Profile, Research) in what is seen as an attempt to prevent the mining giant from being taken over by its rival, BHP Billiton (BHP.AX: Quote, Profile, Research) (BLT.L: Quote, Profile, Research).

Xiao said last week that Chinalco had assets worth more than 300 billion yuan ($42.26 billion) and that it had hired advisers for possible domestic and foreign acquisitions involving base metal resources.

Chinalco is the parent of Aluminium Corp of China (Chalco) (601600.SS: Quote, Profile, Research) (2600.HK: Quote, Profile, Research).

(Reporting by Nao Nakanishi; editing by Ken Wills)
reuters.com

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