Airgas Buys D&D Power, Acacia Research Buys Patent Rights: Merger and Acquisitions Update
On Thursday, Vale (NYSE:VALE) reported that it might divest its interest in the Brazilian logistics firm Log-In Logistica Intermodal as it sells off assets that aren’t a part of its core iron-ore business. The firm’s 31-percent stake in Log-In could be worth as much as $106 million, according to a Vale spokeswoman, who confirmed details published in a report by the financial newspaper Valor Economico.
Acacia Research Corporation’s (NASDAQ:ACTG) subsidiary has bought the rights to patents in the orthopedic technology sector as it continues to grow the number of patent portfolios that it controls in the medical device and diagnostics sectors, according to its Chief Executive Paul Ryan.
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Airgas (NYSE:ARG) has purchased the Texas-based equipment rental and services company D&D Power which supplies mobile power generation and light towers, along with preventative maintenance and other services, to the oil and gas exploration and production industry. Terms of the transaction were not reported.
On Wednesday, the independent oil and gas exploration and production firm BPZ Energy (NYSE:BPZ) said that it closed its contractual arrangements for the divestiture of a 49 percent participating stake in offshore Block Z-1 to Pacific Rubiales Energy Corp. (PEGFF.PK). The board of the latter, along with the Ministry of Energy and Mines have okayed the plan to modify the Block Z-1 license contract, permitting the firm to become a party to the amended agreement.