3M Looks at Ceradyne, U.S. Okays Teavana Takeover: M&A Weekly Recap
Here’s your Cheat Sheet to this week’s M&A headlines:
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
In a Monday press release, the top real estate information marketplace, Zillow (NASDAQ:Z), reported that it will purchase HotPads for $16 million in cash. The latter is based in San Francisco and is a map-based rental and real estate search site. The acquisition marks Zillow’s first purchase of a primarily consumer-facing firm and should close in the fourth quarter.
The United Kingdom’s aerospace group, BAE Systems (BAESY.PK), saw its shares soaring on Tuesday in London on speculation that Lockheed Martin (NYSE:LMT) is interested in the firm, according to several traders. Last month, prolonged merger discussions between BAE and the aerospace group European Aeronautic (EADSF.PK)(EADSY.PK) collapsed.
Siemens (NYSE:SI) will acquire the rail division of London-based Invensys (IVNSF.PK)(IVNSY.PK) at a price of ₤1.74 billion, or $2.78 billion, to reinforce its signaling subsidiary and to assist in reducing its pension deficit. Invensys is more than a century old and now produces software employed in the London Underground’s subway trains. The firm decided to divest the asset due to its limited scope through which to expand the business and the sale will allow the firm to concentrate more on areas like industrial software. The transaction should close in the second quarter of 2013, according to a statement released Wednesday.