Friday, 8 July 2011

Mergers & Acquisitions - Week Ending 08/07/11

Tuesday saw the markets back in full swing following the 4th of July weekend. TPG Capital purchased Immucor, a company which manufactures products related to blood transfusions, for $1.97 billion. This announcement boosted Immucor’s share price by 30.2%. Also that day, money transfer giant Western Union bought Travelex’s Global Payments unit for $976 million. The buyers fell by 4.45%. After a quiet midweek, Thursday brought the remainder of the week’s deals. eBay purchased mobile payments company Zong for $240 million in an all cash deal. It is believed that this will help PayPal utilise cell phone billing in online transactions. The world’s largest online auctioneer was up 1.25%. Later that day, Apollo Global Management bought Gulf Stream Asset Management for an undisclosed fee. The buyer was largely unaffected by this news.