To: richardred who wrote (2292) | 7/19/2010 5:58:08 PM | From: Paul Senior | | | Looked again at COL, AVAV, HRS. They are too expensive for me (p/e), although maybe not for a strategic acquirer. Your post got me to consider Elbit Systems (ELST) which is trading near 12-mo lows and afaik, at about a 10-11 p/e. That one is cheap enough for me, especially relative to other suppliers of drones/electronic warfare technology. I'm in for a few tracking shares a/o this a.m. (I'm not suggesting this company is, or even could be, a takeover target, only that the stock might work for me.) |
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To: Paul Senior who wrote (2294) | 7/20/2010 12:13:14 AM | From: richardred | | | Elbit Systems looks interesting. I have a smaller company called EMS Technologies Inc. (ELMG) on my watch list, I've been tracking. It's trading close to book value and a forward PE of about 13 based on recovering earnings. Balance sheet looks good. I'm not ready to pull the trigger yet though. |
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From: richardred | 7/20/2010 1:17:32 PM | | | | MATK-Martek Biosciences Corp-New buy order filled for this board. I've followed it for quite some time. I've also owned this one before. I sold it in the mid thirties. I didn't consider it a target before. The sales growth that has occurred and the current valuation now IMO give it speculative appeal along with longer term potential stock appreciation. Message 24521954. Earning were above expectations for the latest quarter. The company just announced they will have to take some charges for the closing of a plant. The company is trying to grow their non formula business to diversify away from the formula market. Matk just bought a company to do just that. DHA for food is the future and MATK is a big player. |
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From: richardred | 7/21/2010 12:43:09 AM | | | | UPDATE 1-Japan's MUFG seeks new acquisition in U.S.
Tue Jul 20, 2010 10:54pm EDT
* Seeking new acquisition in U.S. to boost presence
* Japanese lenders are stepping up expansion overseas
* Shares flat, in line with the broader market (Recasts, adds background)
TOKYO, July 21 (Reuters) - Mitsubishi UFJ Financial Group (8306.T), Japan's biggest bank by assets, said it is looking for a new acquisition target in the United States as part of a broader push into overseas markets.
MUFG spokesman Hirokazu Ushio said the bank is studying possible acquisitions in the United States, confirming a Dow Jones report that quoted a senior bank executive.
MUFG and its rivals Mizuho Financial Group (8411.T) and Sumitomo Mitsui Financial Group (8316.T) have been stepping up their overseas expansion in the face of weak growth prospects at home.
MUFG sees a midsize bank on the West Coast or in Texas or Arizona as an ideal target although it is also thinking about buying several small banks, Dow Jones newswire quoted Tatsuo Tanaka, group chief executive officer of global banking at the firm's core banking unit as saying.
Tanaka also said it aims to become one of the 10 leading commercial banks in the United States, Dow Jones said.
MUFG is one of the most active Japanese lenders in overseas expansion, buying out UnionBanCal Corp, a holding company of California-based Union Bank in 2008 and spending $9 billion to buy a 21 percent stake in Morgan Stanley (MS.N) at the height of the financial crisis.
In April this year, MUFG bought two small failed banks through Union Bank under an agreement with the U.S. Federal Deposit Insurance Corp.
MUFG's core banking unit, the Bank of Tokyo-Mitsubishi UFJ has said it aims to increase profits from international operations to 40 percent of its total from 30 percent currently.
MUFG and its rivals are finding it difficult to increase revenue in Japan, where loan demand remains sluggish and interest rates are near zero.
MUFG shares were flat at 399 yen, in line with the broader market. (Reporting by Sachi Izumi and Taiga Uranaka; Editing by Edwina Gibbs)
reuters.com |
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From: richardred | 7/21/2010 12:17:17 PM | | | | Consumer goods group Reckitt Benckiser (RB.L) agreed to buy Durex condoms and Scholl sandals maker SSL (SSL.L) for 2.54 billion pounds ($3.8 billion) to increase its presence in health and personal care. reuters.com |
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To: richardred who wrote (2296) | 7/23/2010 12:45:20 PM | From: richardred | | | Why MATK is a Speculative buy for me? NBTY Agrees to Be Acquired by the Carlyle Group for $55.00 Per Share in Cash; Transaction Valued at $3.8 Billion; NBTY is a Leading Nutritional Supplement Company
RONKONKOMA, N.Y., July 15, 2010 /PRNewswire via COMTEX/ --
NBTY, Inc. (NYSE: NTY), a leading global manufacturer and marketer of nutritional supplements, today announced the execution of a definitive merger agreement under which The Carlyle Group will acquire NBTY in a transaction valued at $3.8 billion. Under the terms of the merger agreement, Carlyle will acquire all of the outstanding common shares of NBTY for $55.00 per share in cash, representing a premium of approximately 57% over NBTY's average closing share price during the 30 trading days ended July 14, 2010. |
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To: richardred who wrote (2287) | 7/23/2010 1:09:47 PM | From: richardred | | | Pactiv Stock Jumps on Acquisition Reports Andrea Tse 07/23/10 - 12:21 PM EDT
NEW YORK (TheStreet) -- Shares of Hefty trash bag maker Pactiv(PTV) were popping on news that Koch Industries is in serious discussions to buy Pactiv, reaffirming reports of acquisition talks that surfaced in May.
According a report from The New York Post, the deadline for final bids will likely fall in early to mid-August. Pactiv
Pactiv stock has reached a new high from October 2007, with share prices up 5.5% to $31.27.
According to Bloomberg, the cost to protect Pactiv bonds against losses tumbled after the report, with credit-default swaps on Pactiv debt falling 30 basis points to 250 basis points.
Koch Industries, which has a portfolio of diverse businesses, owns Georgia-Pacific, one of the world's leading manufacturers and marketers of tissue, packaging, paper, pulp and building products. Koch Industries completed its $21 billion acquisition of Georgia-Pacific in 2005, the largest acquisition of a publicly-traded company by a private firm in U.S. history.
In May, reports that Pactiv had numerous buyout suitors surfaced. Interested parties were said to be private equity firm Apollo Global Management, Georgia Pacific and New Zealand's Rank Group, also a private equity firm. According to analysts cited by The Wall Street Journal, which broke the news, a Pactiv deal could be worth more than $4 billion.
The reported bidding war comes amid rising M&A activity on Wall Street as borrowing costs for businesses have grown more attractive.
On Jul 19, Pactiv, which is also a leader in the foodservice packaging industry, said it completed the first three phases of a $14.5 million project to produce high-quality molded-fiber hinged-lid carryout containers and other products at its Moorhead, Minn., facility. Initial production commenced in 2009, and the project is expected to be fully operational by October. thestreet.com |
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To: richardred who wrote (2274) | 7/23/2010 1:16:43 PM | From: richardred | | | Things are more clear now for a major product. Form 8-K for MEDICIS PHARMACEUTICAL CORP
22-Jul-2010
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On July 22, 2010, Medicis Pharmaceutical Corporation (the "Company") entered into a Settlement Agreement ("Settlement Agreement") and License Agreement ("License Agreement" and, together with the Settlement Agreement, the "Agreements") with Mylan Inc. and certain of its affiliates, including Matrix Laboratories Ltd. and Mylan Pharmaceuticals Inc. (collectively, "Mylan"). Pursuant to the Agreements, the companies agreed to terminate all legal disputes between them relating to SOLODYN? (minocycline HCl, USP) Extended Release Tablets. In addition, Mylan confirmed that the Company's patents relating to SOLODYN? are valid and enforceable, and cover Mylan's activities relating to Mylan's generic SOLODYN? products under Abbreviated New Drug Application ("ANDA") No. 90-911 and ANDA No. 20-1467. Mylan also acknowledged that any prior sales of its generic SOLODYN? products were not authorized by the Company, and agreed to be permanently enjoined from any further distribution of generic SOLODYN? products except pursuant to the License Agreement as described below. The Company agreed to release Mylan from liability arising from any prior sales of its generic SOLODYN? products that were not authorized by the Company. Under the License Agreement, the Company granted to Mylan a license to make and sell its generic versions of SOLODYN? 45mg, 90mg and 135mg under the SOLODYN? intellectual property rights belonging to the Company commencing in November 2011, or earlier under certain conditions. The Company also granted to Mylan a license to make and sell generic versions of SOLODYN? 65mg and 115mg under the Company's SOLODYN? intellectual property rights upon certain conditions, but not upon any specified date in the future. The License Agreement provides that Mylan will be required to pay the Company royalties based on sales of Mylan's generic SOLODYN? products pursuant to the foregoing licenses. biz.yahoo.com
IMPAX deal Message 25220869 |
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To: richardred who wrote (2299) | 7/23/2010 1:33:34 PM | From: richardred | | | MATK is held by these Gurus:
Ticker Guru Name Portfolio Date* Current Shares % of Shares Outstanding % of Total Assets Managed Change from Last Holdings NEW! Holding History MATK Kenneth Fisher 2010-03-31----- 96849---- 0.29---- 0.01----- New--- History MATK John Hussman 2010-03-31----- 530000---- 1.58---- 0.21---- 0% gurufocus.com |
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To: richardred who wrote (2287) | 7/23/2010 1:40:59 PM | From: richardred | | | Chemical M&A activity heats up despite economic concerns
21 July 2010 21:56 [Source: ICIS news]
M&A talk heats upBy Joseph Chang
NEW YORK (ICIS news)--Global chemical industry mergers and acquisitions (M&A) are picking up despite concerns about a potential double-dip recession, several investment bankers said on Wednesday.
“Chemical M&A activity is humming along right now. We’re not hearing about Europe or Asia holding back talks. We are seeing a noticeable pickup in deals across the board – from commodities to specialties,” said Chris Cerimele, director and head of chemicals at investment bank Houlihan Lokey.
“We haven’t seen a slowdown at all in M&A activity," added Telly Zachariades, co-founder and partner of investment bank The Valence Group. "Chemical companies are hitting it out of the park in terms of financial results. They have the cash and desire to do deals, and more assets in the marketplace to choose from.”
On 19 July, South Korea’s Honam Petrochemical picked up a 72.2% stake in Malaysian polyethylene (PE) major Titan Chemicals for Malaysian Ringgit $2.94bn ($910m). Honam plans to take full ownership of Titan by November, for a total investment of $1.3bn, it said.
On the specialties front, German major BASF announced its €3.1bn acquisition of specialty chemical firm Cognis on 23 June.
“Activity has picked up and the second half is likely to be busier,” said Leland Harrs, managing director at investment bank PrinceRidge Group.
“There has been a noticeable pickup in interest, dialogue and activity, and plenty of assets for sale,” he added.
One high-profile asset for sale is US-based Eastman Chemical’s polyethylene terephthalate (PET) business. Other PET businesses are also on the selling block, according to sources in the financial community.
Valuations are also rising, noted Allan Benton, vice chairman and head of the chemical practice at US-based investment bank Scott-Macon.
Completed global specialty chemical deals in the first half of 2010 have had a median enterprise value to earnings before interest, tax, depreciation and amortisation (EV/EBITDA) multiple of 10.1 times. That compares with 7.3 times in 2009, 9.6 times in 2008 and 9.8 times in 2007, said Benton.
There were also 23 closed chemical deals with sales or EBITDA figures in the first half of 2010 versus just 7 deals in the year-ago period and 20 for all of 2009, he said.
“The activity level is stronger. We see strategic buyers wanting to make good acquisitions in their core businesses,” said Benton.
Many chemical companies are reporting strong financial performance and have plenty of cash to put to work, noted Cerimele.
“There are lots of corporate buyers out there, with most looking for bolt-on acquisitions in the $100m range,” he said.
Private equity firms were also expected to be active, particularly on the sell side.
“Some companies owned by private equity are having record years. They have really gotten their act together on improving profitability and cutting costs – and now could be a good time to sell,” said Zachariades.
And smaller chemical deals are also in the works. Sources said two factors in particular were adding fuel to the M&A fire for the sale of small companies – the European Union’s Reach legislation and the expected jump in the US capital gains tax.
“Many smaller chemical businesses are trying to close deals because of the costs of complying with Reach – this is accelerating the decision to sell,” said Cerimele.
“Also, in the US, more sellers are trying to get deals done before the end of the year, when capital gains taxes are expected to rise. If you don’t go to market in the next month or so, it’s going to be tough to get a deal done before year end,” he added.
In the US, the capital gains tax rate of 15% would rise to 20% in 2011 unless the Obama administration acts before then to extend tax cuts. icis.com |
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