M&A & IPO News from AIRS

[David Sandusky]

Monday, April 7th, 2008 M&A & IPO News from AIRS



IPOs
This Week's IPOS: No companies are scheduled to go public this week.


Mergers
This Week's Mergers: Tata to Jaguar and Land Rover ...O'Reilly Automotive to Acquire CSK ...Hewitt to Buy CSi ...Patriot Coal Mines a Deal with Magnum ...HP Sees Growth in Tower ...And Teva Pharmaceutical to Buy Bentley Pharmaceuticals


M&A - Auto Manufacturing

Buyer: Tata Motors Limited, Mumbai, India

Target: Land Rover, Jaguar, Dearborn, MI



Ford Motor Company has agreed to sell its Land Rover and Jaguar divisions to Tata Motors of India for about $2.3 billion. The move is part of Ford's restructuring plan.


Bloomberg, March 27, 2008






M&A - Auto Parts Retail

Buyer: O'Reilly Automotive, Inc., Springfield, MO

Target: CSK Auto Corporation, Phoenix, AZ



O'Reilly Automotive will buy CSK Auto for about $500 million, creating the third-largest auto parts dealer in the United States. The acquisition, subject to shareholder approval, would give O'Reilly a stronger presence on the West Coast, particularly in California.


The Wall Street Journal, April 1, 2008






M&A - Business Services

Buyer: Hewitt Associates, Inc., Lincolnshire, IL

Target: CSi - The Remuneration Specialists, Chatswood, Australia



Hewitt Associates, a leading HR consulting and outsourcing firm, will acquire CSi - The Remuneration Specialists, a remuneration consultancy based in Australia. Hewitt, which continues to seek opportunities to expand its operations in Asia Pacific, says the company is a great addition to its portfolio. Terms of the deal were not disclosed.


Chicago Tribune, March 27, 2008






M&A - Coal Mining & Processing

Buyer: Patriot Coal Corporation, St. Louis, MO

Target: Magnum Coal Co., Inc., Charleston, WV



Patriot Coal Corp. will acquire Magnum Coal Co. for $709 million in order to expand its presence in the Central Appalachia region. Magnum's 1,700 employees will become employees of Patriot Coal, the company says.


St. Louis Business Journal, April 2, 2008






M&A - Computer Software

Buyer: Hewlett-Packard Company, Palo Alto, CA

Target: Tower Software, Canberra, Australia



Computer maker and services provider Hewlett-Packard will buy Tower Software, a developer of document and records management software, for an undisclosed amount.
HP says the acquisition will increase its offerings and complement the company's existing technology.


Reuters, March 31, 2008






M&A - Pharmaceuticals

Buyer: Teva Pharmaceutical Industries Limited, Petah Tikva, Israel

Target: Bentley Pharmaceuticals, Inc., Exeter, NH



Teva Pharmaceutical Industries will acquire Bentley Pharmaceuticals for $360 million. The deal will take place after Bentley spins off its drug-delivery division to its shareholders.


Reuters, March 31, 2008