Mergers & Acquisitions

Mergers & Acquisitions

PLC Systems Signs TMR Asset Sale Agreement with Novadaq

FRANKLIN, Mass., Nov. 8, 2010 -- PLC Systems Inc. (OTC Bulletin Board: PLCSF), a company focused on innovative medical device-based technologies, today announced that it had signed a definitive agreement to sell all of its Transmyocardial Revascularization (TMR) assets toNovadaq Technologies Inc. (TSX: NDQ), a developer of real-time imaging systems for use in the operating room. Novadaq has been...

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Mergers & Acquisitions

AMETEK Acquires Atlas Material Testing Technology

Highly Differentiated Weathering Test Solutions Provider Strengthens AMETEK's Position in Materials Test and Measurement PAOLI, Pa., Nov. 9, 2010 - AMETEK, Inc. (NYSE: AME) today announced that it has acquired Atlas Material Testing Technology LLC, the world's leading provider of weathering test instruments and related testing and consulting services, from Industrial Growth Partners for...

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Mergers & Acquisitions

Carrier Corp. Sells Controlling Stake in Its Korean Air-Conditioning Operations

FARMINGTON, Conn., Nov. 8, 2010 - Carrier Corp. has sold a controlling equity interest in its Korean air-conditioning operations (CLK) to Sinokor Pipe Co., Ltd., a Korean industrial manufacturing company. CLK will continue to be Carrier's distributor in Korea. Carrier Corp., a unit of United Technologies Corp. (NYSE: UTX), is the world's leader in high technology heating, air-conditioning and...

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Mergers & Acquisitions

FleetPride Acquires Springfield Brake Company, Premier Truck Parts and Premier Truck Parts of Joplin

THE WOODLANDS, Texas, Nov. 8, 2010 - FleetPride, Inc., the nation's largest independent aftermarket distributor of heavy-duty truck and trailer parts, announced that it has acquired the assets of Springfield Brake Company in Springfield, Missouri, Premier Truck Parts in Harrison, Arkansas, and Premier Truck Parts of Joplin, Joplin, Missouri. Each location operates both a parts counter and...

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Mergers & Acquisitions

Tyco International Agrees to Sell Majority Interest in Electrical and Metal Products Business to Clayton Dubilier & Rice

SCHAFFHAUSEN, Switzerland, Nov. 9, 2010 - Tyco International Ltd. (NYSE: TYC) today announced that it has entered into an agreement to sell a 51% stake in its Electrical and Metal Products business to the private equity firm Clayton Dubilier & Rice, LLC (CD&R). Tyco will receive total cash proceeds of approximately $720 million and will use these proceeds to accelerate share repurchases under a...

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Mergers & Acquisitions

Xyratex Acquires ClusterStor, Lustre File System Expertise

Peter Braam and Peter Bojanic, two of the original Lustre architects, have joined Xyratex to lead a world class Lustre development team, enabling Xyratex's OEM partners to leverage Lustre in their next generation of High Performance Computing (HPC) technologies. HAVANT, England, Nov. 9, 2010 - Xyratex Ltd (Nasdaq: XRTX), a leading global provider of enterprise-class data storage subsystems and...

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Mergers & Acquisitions

Ashland Inc. to Sell Its Distribution Business to TPG Capital

COVINGTON, Ky., Nov. 8, 2010 - Ashland Inc. (NYSE: ASH) today announced it has signed a definitive agreement to sell its global distribution business, known for many years as Ashland Distribution, to TPG Capital for $930 million. Commenting on the transaction, Chairman and Chief Executive Officer James J. O'Brien said, This divestiture reflects Ashland's strategic direction and completes a major...

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Mergers & Acquisitions

Harris Corporation to Acquire Schlumberger Global Connectivity Services; Broadens Global Managed Satellite Communications Services Capabilities

MELBOURNE, Fla. and HOUSTON, Nov. 8, 2010 - Harris Corporation (NYSE: HRS) an international communications and information technology company, has entered into a definitive agreement to acquire the Global Connectivity Services (GCS) business from Schlumberger Information Solutions, an operating unit of Schlumberger Limited (NYSE: SLB). The acquisition will significantly extend Harris'...

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Mergers & Acquisitions

Solutia Announces Sale of Perkalink® Business and Select Primary Accelerators Assets

Continues strategic focus on high-value products with world-leading positions ST LOUIS, Nov. 8, 2010 - Solutia Inc. (NYSE: SOA) announced today that it has sold its Perkalink® business and entered into a definitive agreement to sell select Primary Accelerators assets to LANXESS, a Germany-based specialty chemicals company. The sale of the Perkalink business is yet another strategic step...

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Mergers & Acquisitions

Wabtec Acquires Swiger Coil Systems, a Leading Manufacturer of Traction Motors, Electric Coils

WILMERDING, Pa., Nov. 8, 2010 - Wabtec Corporation (NYSE: WAB) has acquired substantially all of the assets of Swiger Coil Systems, a leading manufacturer of traction motors and electric coils for rail and power generation markets. The company is based in Cleveland, Ohio, and has annual sales of about $35 million. Wabtec expects the transaction to be accretive in the first year. Founded in 1975,...

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