Mergers and Acquisitions
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5/1/13 5:47 pm CDT
ST. PAUL, Minn. (May 1, 2013) – The Orvis Company, Inc. of Manchester, Vermont today announced it has entered into a definitive agreement to acquire the Scientific Anglers and Ross Reels businesses from 3M (NYSE:MMM). Upon completion of the transaction, Orvis plans to continue to operate the Midland, MI based business independently under the Scientific Anglers brand. Ross Reels will also continue to operate independently under its brand name from its Montrose, CO headquarters. Themore...
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11/29/12 6:30 am CST
ST. PAUL, Minn.--(BUSINESS WIRE)--3M (NYSE:MMM) announced today that it has completed its acquisition of
Ceradyne, Inc. effective as of November 28, 2012, pursuant to the
previously announced merger agreement among Ceradyne, 3M, and 3M’s
wholly owned subsidiary, Cyborg Acquisition Corporation, through the
merger of Cyborg Acquisition Corporation with and into Ceradyne. As a
result of the merger, Ceradyne is now a wholly owned subsidiary of 3M.
The combination ofmore...
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11/28/12 6:30 am CST
ST. PAUL, Minn.--(BUSINESS WIRE)--3M (NYSE:MMM) announced today that its tender offer to purchase all
issued and outstanding shares of common stock of Ceradyne, Inc. (NASDAQ:
CRDN) at a price of $35.00 per share was successful.
The tender offer expired at 5:00 p.m., New York City time, on Tuesday,
November 27, 2012. The depositary for the tender offer has advised that,
as of such time, a total of 21,093,164 shares were validly tendered and
not withdrawn in the offer,more...
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11/16/12 7:43 am CST
ST. PAUL, Minn.--(BUSINESS WIRE)--3M (NYSE:MMM) announced today that on November 15, 2012, it received
clearance from the Austrian Federal Competition Authority with respect
to its previously announced tender offer for all issued and outstanding
shares of common stock of Ceradyne, Inc. (NASDAQ: CRDN) at a price of
$35.00 per share (the “Offer”). The U.S. Federal Trade Commission
previously granted early termination of the required waiting period
under the Hart-Scott-Rodinomore...
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10/15/12 7:30 am CDT
ST. PAUL, Minn.--(BUSINESS WIRE)--3M (NYSE: MMM) today announced that its direct wholly owned subsidiary,
Cyborg Acquisition Corporation, has commenced its previously announced
tender offer for all outstanding shares of common stock of
Ceradyne, Inc. (NASDAQ: CRDN) at a price of $35.00 per share. The
tender offer is being made in connection with the Agreement and Plan of
Merger, dated as of September 30, 2012, by and among 3M Company, Cyborg
Acquisition Corporation and Ceradynemore...
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10/3/12 3:53 pm CDT
ST. PAUL, Minn.--(BUSINESS WIRE)--3M (NYSE:MMM) and Avery Dennison Corp. (NYSE:AVY) have terminated the
definitive agreement under which 3M would have purchased Avery
Dennison’s Office and Consumer Products business, the two companies
announced today.
“While we are disappointed with this turn of events, we remain focused,
as always, on investing in product innovation and providing our
customers with a broad range of premier products,” said Jesse Singh,
vicemore...
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10/1/12 6:30 am CDT
Acquisition Broadens 3M’s Ceramic Platform ST. PAUL, Minn. & COSTA MESA, Calif.--(BUSINESS WIRE)--3M (NYSE:MMM) and Ceradyne, Inc. (NASDAQ:CRDN) announced today that they
have entered into a definitive agreement for 3M’s acquisition of
Ceradyne, Inc. for $35.00 per share. The proposed transaction has an
aggregate value of approximately $860 million, or approximately $670
million net of cash, cash equivalents, short-term investments and debt
acquired.
The agreement provides for a subsidiary of 3M to commence a tender offer
tomore...
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9/4/12 11:00 pm CDT
ST. PAUL, Minn. & PASADENA, Calif.--(BUSINESS WIRE)--3M (NYSE:MMM) and Avery Dennison Corp. (NYSE:AVY) issued the following
statement in response to a news release from the U.S. Department of
Justice (DOJ) regarding 3M’s proposed acquisition of Avery Dennison’s
Office and Consumer Products business:
“3M and Avery Dennison have not terminated the purchase agreement
governing the transaction. In light of concerns about the transaction
raised by the DOJ, the companies have voluntarilymore...
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9/4/12 11:40 am CDT
ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has completed its acquisition of the business
of Federal Signal Technologies Group (FSTech) from Federal Signal Corp.,
for a purchase price of $110 million in cash, subject to post-closing
adjustments. FSTech focuses on electronic toll collection and parking
management hardware and software services.
Electronic tolling and parking are key adjacencies to 3M’s business for
motor vehicle systems and services.more...
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6/21/12 7:03 am CDT
Acquisition Expands 3M’s Traffic Solutions into Adjacent Electronic Tolling Industry ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has entered into an agreement to acquire the
business of Federal Signal Technologies Group (FSTech) from Federal
Signal Corp., for a purchase price of $110 million in cash, subject to
post-closing adjustments. FSTech focuses on electronic toll collection
and parking management hardware and software services.
The fast-growing $3 billion electronic tolling industry is projected to
grow at a rate greater than 12more...
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