Friday, 30 March 2012

Mergers & Acquisitions - Week Ending 03/30/12


On Monday, Bausch & Lomb purchased fellow eye care company ISTA Pharmaceuticals from Warburg Pincus, a private equity firm, for $500 million. This is the latest in a series of moves by B&L, who already make the majority of ISTA’s US products, to become the world’s premier eye care firm. The target gained 1%. The following day, Foxconn bought an 11 percent stake in its Japanese rival Sharp in a deal worth around $800 million. This comes as Chinese tech firms like the buyer are outstripping their neighbours due to lower costs. The bidder was up 1.6%, while Sharp was boosted a massive 20.4%, possibly on the hope that Foxconn can streamline their troubled manufacturing process. The week’s final deal came on Wednesday in industrial manufacturing, when Tyco merged its flow control unit with that of Pentair. The resultant company has an estimated worth of around $9 billion. Pentair jumped over 15% as Tyco increased 4.3% by the bell.