M&A and IPO News 10/06/08

[David Sandusky]

This weeks acquisitions and IPO news as compiled by AIRS newsletter.

IPO - Remediation & Environmental Cleanup Services

Safety-Kleen HoldCo., Inc.

Safety-Kleen is the largest oil recycling and re-refining, parts cleaner, and industrial waste management services company in North America. The company has customers in the United States, Canada, Puerto Rico, and Mexico.
Location:
Empoyees: 4,300
Date: 9/29/2008
NYSE: SK



M&A - Apparel & Accessories Retail

Buyer: The Gap Inc., San Francisco, CA

Target: Athleta Corporation, Petaluma, CA



U.S. clothing retailer The Gap Inc. will buy Athleta, a provider of women's athletic clothing that sells its products online and by catalog. Gap, which is paying about $150 million in cash for Athleta, wants to expand its line of women's athletic apparel.
Bloomberg.com, September 22, 2008




M&A - Computer Software

Buyer: Hewlett-Packard Company, Palo Alto, CA

Target: LeftHand Networks, Inc., Boulder, CO



Hewlett-Packard (HP), the world's largest personal computer maker, has agreed to buy LeftHand Networks, a provider of storage and data software, for $360 million in cash. The deal will allow HP to add to its storage offerings.
Bloomberg.com, October 1, 2008




M&A - Medical Equipment & Supplies

Buyer: Medtronic, Inc., Minneapolis, MN

Target: CryoCath Technologies, Inc., Montreal, Canada



Medtronic, a leading maker of defibrillators, pacemakers, and stents, has agreed to acquire CryoCath, a medical technology leader in cryotherapy products to treat cardiac arrhythmia, for $386.7 million. The deal gives Medtronic access to atrial fibrillation technology, a rapidly growing market.
Forbes, September 25, 2008



M&A - Mutual Fund Management

Buyer: Bain Capital LLC and Hellman & Friedman LLC, Boston, MA and San Francisco, CA

Target: Neuberger Berman Management Inc., New York, NY



Private equity investment firms Bain Capital and Hellman & Friedman have teamed up to buy the asset-management unit of Lehman Brothers Holdings, Neuberger Berman, for $2.15 billion. Lehman filed for bankruptcy on Sept. 15.
Bloomberg.com, September 29, 2008



M&A - Security Software

Buyer: McAfee, Inc., Santa Clara, CA

Target: Secure Computing Corporation, San Jose, CA



McAfee, the second-largest computer security company, will buy Secure Computing Corp., a provider of network security products, for $465 million. The acquisition, McAfee's largest ever, will allow the company to expand its offerings.
Reuters, September 23, 2008




M&A - Superregional Banks

Buyer: Wells Fargo & Company, San Francisco, CA

Target: Wachovia Corporation, Charlotte, NC



Banking giant Wells Fargo, whose trademark image has been a stagecoach, is riding to the rescue and saving Wachovia, a leading bank crippled by the credit crisis. Wells Fargo has agreed to a $15.4 billion takeover of Wachovia that requires no government assistance, scrapping an earlier plan for Citigroup to acquire the bank with government support.
The Wall Street Journal, October 3, 2008