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   Strategies & Market TrendsSpeculating in Takeover Targets


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From: richardred8/25/2014 12:11:44 AM
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It will be a big deal merger Monday!

Roche to buy U.S. biotech firm InterMune for $8.3 billion

finance.yahoo.com

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To: richardred who wrote (3228)8/26/2014 12:42:33 PM
From: richardred
   of 6544
 
RE-SKY-Skyline- Reported earnings just recently released. The company is still not cash flow positive yet. A turnaround that has yet to materialize. The company seems to be selling off everything, but the kitchen sink. After the company plane, excess land, idle facilities, and life insurance policies. I'm not sure how much is left to sell off. The thing that's keeping me here. Insider ownership at close to 50% and the synergies with Buffett's Clayton homes. YH Reported book value is down to around to four bucks.

One bright spot seemed to be increasing orders the manufactured homes segment. Although much of that might be due to a one time order from a manufacture homes community. The trailer segment has been a total drag. The consolidation of those facilities or an outright along with a better product mix has me hopeful.

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To: richardred who wrote (3084)8/26/2014 1:05:07 PM
From: richardred
   of 6544
 
Ok I'll say it if it hasn't already. A Wopper of a deal, only hold the Inversion. <G>

Burger King to Buy Tim Hortons for $11.4 Billion

Canada has taken a hard line to it's big companies being bought out. We will see how this goes.

If I remember right. It was the Peltz brothers that decided for Wendy's to spin of Tim Hortons for shareholder enhancement.
Now it's time for a Burger King try. Warren Buffett said to be funding part of the deal. The market has taken a positive reaction.

Warren tried to provide funding for a Coty/Avon deal that fell apart. Now Coty has a venture with Avon for distribution of some products in Avon's profitable Latin Americas business.

If that venture becomes successful. I see renewed speculative appeal in AVP. Especially since the Avon bribery China scandal will be settled at a high cost to the company.

P.S. I've notice the Carrols Restaurant Group, Inc. (TAST) has move up smartly due to the fact it it the franchisee of many Burger Kings. I still remember the days my parents took us to Carrols here in Western NY. There all Burger Kings now. Their club burger was 25 cents I think.
finance.yahoo.com


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To: richardred who wrote (3742)8/26/2014 6:45:13 PM
From: golfer72
   of 6544
 
yeah I remember Carrolls also. Hudson Valley area of NY. They had great vanilla shakes !

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To: golfer72 who wrote (3743)8/27/2014 1:33:03 AM
From: richardred
   of 6544
 
They still have the empty shell of a Carrols not far from our house. Only the arches are down. I expect consolidation of the group to continue. No targets I'm currently at. However Sonic drew my attention last time I looked at the group.
finance.yahoo.com

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To: richardred who wrote (3420)8/28/2014 12:07:09 PM
From: richardred
   of 6544
 
Bullseye today- :+ ) First one of this year- COBRA Electronics

Message 29662000
RE- Cobra takeover-I'll bet the tax loss carryforwards had something to do with it. <O> Wink

Monomoy Capital Partners To Acquire Cobra Electronics Corporation




CHICAGO, Aug. 28, 2014 /PRNewswire/ -- Cobra Electronics Corporation ( COBR), a leading global designer and marketer of mobile communications and navigation products, and Monomoy Capital Partners II, L.P. ("Monomoy") a New York private equity fund focused on value investing and business improvement, announced today that Cobra Electronics and entities affiliated with Monomoy have executed a definitive merger agreement pursuant to which an affiliate of Monomoy will acquire all of the outstanding shares of common stock of Cobra Electronics at $4.30 per share in cash.



Under the terms of the agreement, an affiliate of Monomoy will commence a tender offer to purchase all outstanding shares of common stock of Cobra Electronics at a price of $4.30 per share in cash within ten business days. The offer is conditioned on, among other things, the tender of a majority of the outstanding shares of Cobra Electronics' common stock, calculated on a fully diluted basis. The merger agreement provides that, promptly after the closing of the tender offer, any shares not tendered in the tender offer (other than shares for which appraisal is properly sought under applicable law) will be acquired in a second-step merger at the same cash price as paid in the tender offer.

Directors and officers of Cobra Electronics holding approximately 2.6% of Cobra Electronics' outstanding shares of common stock, on a fully diluted basis, have executed support agreements pursuant to which each of them will tender their shares in the tender offer.

"This transaction will deliver to Cobra Electronics' shareholders certainty of value and liquidity in the form of a cash payment immediately upon closing," said Jim Bazet, Chairman and Chief Executive Officer of Cobra Electronics. "We are excited to work with Monomoy as this transaction marks the next stage in the evolution of the Cobra brand."

"We are thrilled to add Cobra's market leading products to the Monomoy portfolio," said Justin Hillenbrand, Co-CEO of Monomoy. "We look forward to working with Cobra's team members, suppliers and customers for many years to come."

In addition to the minimum tender condition, the transaction is subject to other customary closing conditions. The transaction is expected to close in the fourth quarter of this year. William Blair & Co., LLC acted as financial advisor, and Sidley Austin LLP acted as legal advisor, to Cobra Electronics. Houlihan Lokey acted as financial advisor, and Kirkland & Ellis, LLP acted as legal advisor, to Monomoy Capital Partners.

About Cobra Electronics

Cobra Electronics is a leading global designer and marketer of communication and navigation products, with a track record of delivering innovative and award-winning products. Building upon its leadership position in the GMRS/FRS two-way radio, radar detector and Citizens Band radio industries, Cobra identified new growth opportunities and has aggressively expanded into the marine market and has expanded its European operations. The Consumer Electronics Association, Forbes and Deloitte & Touche have all recognized Cobra for the company's innovation and industry leadership. To learn more about Cobra Electronics, please visit the Cobra site at www.cobra.com.

About Monomoy Capital Partners

Monomoy Capital Partners is a private equity firm with $700 million in committed capital that makes controlling investment in middle market businesses in the manufacturing, distribution, consumer product and foodservice sectors. Over the past five years, Monomoy has closed 43 middle market acquisitions. Its portfolio companies generate over $1.2 billion in combined sales and employ more than 6,000 people across four continents. Monomoy implements customized business improvement programs at its portfolio companies that reduce operating expenses, increase profitability and support profitable growth. Please visit www.mcpfunds.com for a detailed description of Monomoy and its portfolio companies.

Safe Harbor

This release contains forward-looking statements. These statements are based on management's current expectations and are subject to risks and uncertainties. Actual results may differ materially from these expectations due to factors such as the acceptance of Cobra's new and existing products by customers, the continued success of Cobra's cost containment efforts and the continuation of key distribution channel relationships. Please refer to Cobra's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, for a more detailed discussion of factors that may affect Cobra's performance.

Important Additional Information

This press release is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of common stock of Cobra Electronics Corporation (the "Company"). The tender offer (the "Offer") described in this press release for all of the outstanding shares of common stock of the Company has not yet commenced. Upon commencement of the Offer, Venom Electronics Holdings, Inc. will file a Tender Offer Statement on Schedule TO (including an Offer to Purchase, Letter of Transmittal and related tender offer documents, the "Tender Offer Documents") with the Securities and Exchange Commission (the "SEC"). Following commencement of the Offer, the Company will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 (the "Schedule 14D-9"). Before making any investment decision, Investors and shareholders of the Company are strongly advised to read the Tender Offer Documents, the Schedule 14D-9 and other relevant materials when they become available, because they will contain important information.

Investors and shareholders of the Company can obtain copies of these materials (and all other related documents filed with the SEC) when available, at no charge on the SEC's website at www.sec.gov. Copies of the Schedule 14D-9 and other documents filed by the Company with the SEC will be available at no charge under the heading "SEC Filings" in the "Investor Relations" portion of the Company's website, www.cobra.com.

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From: richardred8/29/2014 12:15:14 PM
   of 6544
 
New buys today tripling position in US ENERGY and new buy in Contango Oil & Gas Company (NYSE MKT:MCF) . This adds to a current small money loosing position in USEG- US Energy

IMO -Prospects are much better and Speculative Appeal higher than when I first entered years ago. I entered some USEG the day I bought Creedo Petroleum. Creedo has already been bought out. Maybe it's time for the family to sell out to ? Maybe-Contango Oil & Gas Company (MCF)? Bought some MCF just in case a bigger player wants in, & plus they own a bigger working interest in some USEG producing wells.

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To: Glenn Petersen who wrote (3734)9/1/2014 12:33:53 AM
From: richardred
   of 6544
 
Now here's a new initiative buy a foreign Gov't I haven't ever heard of before.

>the South Korean government has told the company to put its cash to work or risk a fine

Samsung under pressure to spend (RCR Mobile Minute)

Mobile Minute:
Samsung could be shopping for acquisitions soon — the South Korean government has told the company to put its cash to work or risk a fine. The government has its eye on Samsung’s $60 billion cash pile and would like to see that money distributed to households as dividends paid to Samsung shareholders. (Corporate profits have been growing faster than household income in South Korea.)
The government is proposing a 10% tax on “excess” cash held by large companies, and lawmakers would have the authority to define “excess.” If the law passes, companies that want to avoid the tax will have some choice about how they get their cash out into the economy. Dividends are certainly one option, but Samsung may instead choose a strategic acquisition or two. Even before the latest moves by lawmakers, analysts were predicting that Samsung would look for an acquisition that could expand its footprint. There are several struggling smartphone makers that Samsung could swallow, but the company might also branch out into a related industry, like software. It already makes devices, chips, and network gear, so networking software could be the next logical extension.

rcrwireless.com

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From: richardred9/1/2014 12:42:22 AM
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On the money: Hormel still looking for M&A
By Dean Best | 22 August 2014




Hormel acquired Muscle Milk owner CytoSport earlier this month

US group Hormel Foods has been busy looking for acquisitions in recent quarters, succeeding in some places and apparently being thwarted elsewhere. Announcing its third-quarter results yesterday (21 August), the Skippy peanut butter maker indicated it was ready to make more deals.

Hormel has made two acquisitions in the last 18 months. In June, the company announced a deal to buy US sports nutrition group CytoSport, the owner of brands including Muscle Milk protein drinks. At the start of 2013, Hormel swooped to buy the Skippy brand from Unilever for around US$700m.

The acquisitions have both helped to further diversify a company founded in the 1890s on pork and one which, while still investing in building a value-added pork products business, has been looking to expand into other parts of the industry to reduce the impact of raw material volatility.

However, not all of Hormel's acquisition attempts have been successful. It was reported to have been interested in Unilever's North American cooking sauces business, which ended up being sold to Japan's Mizkan Group.

After Hormel's third-quarter results were announced yesterday - numbers that included earnings per share that beat Wall Street forecasts - analysts quizzed the group about its M&A ambitions and the company said it was ready to pounce again.

"We certainly have the bandwidth to do another acquisition," investor relations director Jana Haynes said.

Haynes said Hormel's Specialty Foods division, the part of the business into which CytoSport is being integrated, "might have trouble doing another one right on top" of that deal, but she added: "We certainly would have the ability to do it from an organisational perspective. It's finding the right transaction that has the strategic fit, that has the number one or number two brand, looking for something that is accretive to our margins and where we can really add some value."

Hormel has enjoyed rising sales and profits in the year to date. However, analysts believe the company needs to make more deals to hit its long-term targets. Hormel has been investing in building a broader business through acquisitions and looked to add value to its pork business through innovation but some industry watchers believe M&A is needed to boost its growth prospects.

"Hormel generates much of its profits from mature categories with limited organic growth prospects, so we believe management will need acquisitions if it is to reach its long-term targets of 5% sales and 10% earnings growth," Morningstar analyst Liang Feng wrote last month.

Analysts were keen to hear more about Hormel's plans for CytoSport. Jeffrey Ettinger, Hormel's chairman, president and CEO, said the company had been asked in the wake of the deal what "Hormel brings to the party when it comes to the acquisition".

He said: "We have knowledge of manufacturing and of the category, that perhaps has been overlooked a little bit, I mean our Specialty Foods group is a less branded group, and so sometimes doesn't get talked about quite as much, but we've been manufacturing both powdered and ready-to-drink protein items for over ten years with our Century Foods business unit that's under Specialty Foods. This was a great opportunity to bring a branded catalyst for that group to build apply that knowledge, the way we do in the rest of our companies to a branded item."

Ettinger said Hormel could improve CytoSport's distribution and boost the company's recent performance through NPD. The Hormel boss claimed CytoSport had admitted it had lost focus while the business was being sold.

"We feel we're going to be able to bring deeper sales and category management skills to the largest market for this product line, which is the food, drug and mass market where we sell so many of our other items," Ettinger said.

"We also feel our innovation track record bodes well in terms of coming up with great new items that would fit under this brand. We're very early on; the category growth that we're looking at is still very significant. Our feeling and even the prior management kind of conceded to us there was prior a little bit of lack of focus as they were in the sale process ... and so their share has not quite kept up with all the category growth, but notwithstanding that, I mean it still grew in terms of both the ready-to-drink components ... so it should be a great growth catalyst for Hormel going forward."

Strategically, Ettinger said central to the CytoSport acquisition was to further tailor Hormel's business towards more convenient products, in tune with consumer trends in the US.

"We ... had identified that we really thought we needed to provide more on the go offerings, and so hence our innovation with Rev, that was a big motivator frankly behind the Muscle Milk acquisition was that – people are viewing those items in many cases as meal replacements, consumed on-the-go. And so again we are looking in most cases for leading share brands that we can drive with our marketing and hopefully operate on an efficient basis."

Morningstar's Feng does have a note of caution about Hormel's M&A ambitions. "While we are impressed with management’s execution, we are wary of blindly assuming that Hormel's unannounced acquisitions will generate excess returns and close the shortfall. CPG acquirers have bid up transaction multiples due to cheap financing, so it will be difficult for Hormel to identify opportunities that meet its return threshold, especially since the firm has rarely strayed from its net cash position."

just-food.com


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To: richardred who wrote (3747)9/1/2014 1:58:37 AM
From: Glenn Petersen
   of 6544
 
lawmakers would have the authority to define “excess.”

That's scary.

Firms with excess cash might end up making bad acquisitions that will ultimately hurt their shareholders.

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