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Mergers and Acquisitions

  • 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...
  • 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...
  • 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for the tender offer has advised that, as of such time, a total of 21,093,164 shares were validly tendered and not withdrawn in the offer,more...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...