M&A and IPO News from AIRS 7/14/08

[David Sandusky]

Monday, July 14, 2008 M&A & IPO News from AIRS

IPO - Industrial Manufacturing

Energy Recovery, Inc.

Energy Recovery Inc. (ERI) focuses on making seawater desalination affordable worldwide.
The company manufactures high efficiency products that are among technologies driving rapid growth in seawater reverse osmosis desalination.
Location: San Leandro, CA
Empoyees: 67
Date: 671/2008
NASDAQ: ERII





M&A - Biotechnology

Buyer: Novartis AG, Basel, Switzerland

Target: Speedel, Bound Brook, NJ



Swiss pharmaceutical company Novartis will acquire Speedel, a biotech company focused on the development of therapies for cardiovascular and metabolic diseases, for $880 million. Novartis sees the acquisition as a way to quickly add new drugs to its pipeline of products.
Reuters, July 10, 2008





M&A - Chemicals

Buyer: Ashland Inc., Covington, KY

Target: Hercules Incorporated, Wilmington, DE



Construction, chemical, and petroleum company Ashland has agreed to purchase chemical maker Hercules for $2.6 billion. The acquisition, subject to approval, would strengthen Ashland's presence in the specialty chemical market.
The Wall Street Journal, July 11, 2008





M&A - Chemicals

Buyer: The Dow Chemical Company, Midland, MI

Target: Rohm & Haas Company, Philadelphia, PA



Dow Chemical, the largest chemical company in the United States, has agreed to buy Rohm & Haas Co., a manufacturer of specialty chemicals, for $15.3 billion. The deal, which has been approved by both boards, allows for Rohm & Haas to continue operating from Philadelphia under its own name.
The Wall Street Journal, July 10, 2008





M&A - Computer Software

Buyer: NEC Corporation, Tokyo, Japan

Target: NetCracker Technology Corp., Waltham, MA



Japanese technology giant NEC will acquire NetCracker Technology, a provider of infrastructure management software, for about $300 million. The acquisition gives NEC new software and services it can offer customers.
IDG News Service, June 29, 2008





M&A - Electronic Components

Buyer: GSI Group Inc., Basel, Switzerland

Target: Excel Technology, Inc., East Setauket, NY



GSI Group, a supplier of precision technology, will acquire Excel Technology, a maker of electro-optical components and laser systems for scientific, industrial, and medical markets, for approximately $360 million. The combined company's complementary products and technologies will allow it to offer customers a broader range of solutions.
Boston Business Journal, July 10, 2008





M&A - Pharmaceuticals Manufacturers

Buyer: Fresenius SE, Bad Homburg, Germany

Target: APP Pharmaceuticals, Inc., Schaumberg, IL



Fresenius, a German healthcare company with a wide range of products, will acquire APP Pharmaceuticals, a maker of generic injectable drugs, for $3.7 billion plus the assumption of $940 million in outstanding debt. APP will become part of Fresenius Kabi, with the goal that the division will become a leader in the U.S. generic injectables market.
The Wall Street Journal, July 7, 2008





M&A - Television


Buyer: NBC Universal, Inc., New York, NY

Target: The Weather Channel Companies, Atlanta, GA



NBC Universal, with private equity firms Bain Capital and The Blackstone Group, is buying The Weather Channel for $3.2 billion from Landmark Communications. The group beat out Time Warner in bidding for the third-most distributed cable network in the U.S. The Weather Channel will continue to be based in Atlanta, with management services provided by NBC Universal.
Financial Times, July 7, 2008