M&A and IPO News from AIRS 5/05/08

[David Sandusky]

Monday, May 5, 2008 M&A & IPO News from AIRS


IPO - Agricultural Chemicals

Intrepid Potash, Inc.

Intrepid Potash owns and operates potash (potassium chloride) mines. The company is the largest producer of potash in the United States. Potash is a fertilizer used to grow corn, wheat, soybeans, hay, and numerous other crops.
Location: Denver, CO
Empoyees: 710
Date: 4/21/2008
NASDAQ: IPI






IPO - Real Estate Investment Trusts (REITs)

Hatteras Financial Corp.

Hatteras Financial is an externally-managed mortgage REIT formed in 2007 to invest in adjustable-rate and hybrid adjustable-rate single-family residential mortgage pass-through securities issued or guaranteed by U.S Government agencies or U.S. Government-sponsored entities, such as Fannie Mae (FNMA), Freddie Mac (FHLMC) or Ginnie Mae (GNMA). The company's principal goal is to generate net income for distribution to its stockholders through regular quarterly dividends.
Location: Winston-Salem, NC
Empoyees: 6
Date: 4/24/2008
NASDAQ: HTS






IPO - Water Utilities

American Water Works Company, Inc.

American Water Works, formerly American Water, is one of the largest water utility holding companies in the United States. Through its regulated utilities and contract services, it supplies water to approximately 15.6 million people in 32 U.S. states, Canada, and Puerto Rico.
Location: Voorhees, NJ
Empoyees: 6,900
Date: 4/22/2008
NASDAQ: AWK






M&A - Biotechnology

Buyer: GlaxoSmithKline plc, London, UK

Target: Sirtris Pharmaceuticals, Inc., Cambridge, MA



Pharmaceuticals maker GlaxoSmithKline will acquire Sirtris Pharmaceuticals, a biotech firm focused on the field of sirtuins, a recently-discovered class of enzymes that are believed to be involved in the aging process. GlaxoSmithKline will pay $720 million for Sirtris.
MarketWatch, April 23, 2008






M&A - Candy & Confections

Buyer: Mars, Incorporated, McLean, VA

Target: William Wrigley Jr. Company, Chicago, IL



Candy maker Mars Inc. has agreed to buy chewing gum maker Wrigley for about $23 billion.
The deal, which has the financial backing of Warren Buffet's firm, Berkshire Hathaway, would expand the global reach of Mars, which is known for its M&M's and Snickers brands, among other candy.
The Wall Street Journal, April 28, 2008






M&A - Fast-Food and Quick-Service Restaurants

Buyer: Triarc Companies, Inc., New York, NY

Target: Wendy's International, Inc., Dublin, OH



The parent company of fast-food chain Arby's, Triarc Cos., will buy hamburger chain Wendy's for $2.34 billion. Family members of Wendy's founder Dave Thomas, who died in 2002, are devastated by the sale of the company.
The Wall Street Journal, April 23, 2008






M&A - Floral & Gifts Retail

Buyer: United Online, Inc., Woodland Hills, CA

Target: FTD Group, Inc., Downers Grove, IL



Internet service provider United Online will buy florist network and website operator FTD Group for $456 million. The acquisition will allow United Online to expand into the growing floral Internet business.
BusinessWeek, April 30, 2008






M&A - Insurance

Buyer: Liberty Mutual Group Inc., Boston, MA

Target: Safeco Corporation, Seattle, WA



Liberty Mutual Group has agreed to acquire Safeco Corp. for $6.2 billion. The deal, subject to Safeco shareholder approval (Liberty Mutual is owned by policyholders), would form the fifth-largest property and casualty insurance company in the United States.
Associated Press, April 23, 2008






M&A - Specialized Computer Systems

Buyer: Honeywell International Inc., Morristown, NJ

Target: Metrologic Instruments, Inc., Blackwood, NJ



Honeywell International, a maker of thermostats and jet engines, will acquire Metrologic Instruments, a maker of bar-code scanners and handheld computers used for inventory control and shipping and receiving, for $720 million. The company will be integrated with Honeywell Security.
Forbes, April 28, 2008