Matson Buys Reef Shipping Assets, Lucas Energy Finalizes Asset Sale: Merger and Acquisitions Recap
The United States Pacific carrier Matson (NYSE:MATX) will purchase the primary assets formerly owned by Reef Shipping, a South Pacific shipping firm based in Auckland that has been in business since 1968. The assets include four vessels and about 1,500 pieces of container equipment. Financials of the acquisition were not disclosed, but the transaction should close on or about the year’s end.
Steinway Musical Instruments (NYSE:LVB) reported on Thursday the conclusion of its evaluation of strategic alternatives. The company received an unsolicited offer to purchase its band instrument division in July 2011, prompting the board of directors to hire Allen & Company to assist a special committee of the board in evaluating the proposal and other strategic alternatives that were available. The special committee studied a broad array of alternatives to improve shareholder value, among which included a sale of the band division and a sale of the entire firm.
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The multinational biopharmaceutical and diagnostics firm OPKO Health (AMEX:OPK) will purchase Silcon Comércio Importação E Exportação de Produtos Farmaceuticos e Cosmeticos Ltda. which is based in São Paulo. The acquisition of Silcon broadens OPKO’s presence in Latin America with this entry into the biggest market in the area, providing crucial cross marketing opportunities for its increasing portfolio of products.
Independent oil and gas company Lucas Energy (AMEX:LEI) finalizes the sale of a 0.77 percent net royalty stake in certain assets it owned within the Baker Deforest Unit, lying in Gonzales and Dewitt Counties, Texas, at a price of $4 million.
Don’t Miss: M&A Activity Boosts Year-End Economy.