Data Wrap
JF Lehman is rumored to be buying Ashland's Drew Marine unit, plus all the latest deals.
June 22, 2009
Target – Acquirer – Description
Ashland Inc. (Drew Marine unit) -- JF Lehman & Co.
JF Lehman & Co. was rumored to be planning to acquire the Drew Marine of Ashland Inc, a Covington - based manufacturer and wholesaler of adhesives, additives, solvents, petroleum related and bio-based chemicals, casting solutions, composites, plastics and water technologies treatments, in a leveraged buyout transaction.
Corning Cable Systems (Surge Protection Assets) -- Bourns Inc.
Bourns Inc. acquired the Central office surge protection product assets of Corning Cable Systems Inc, a Hickory-based manufacturer of wholesaler of optical fibers and cables and a wholly–owned unit of Corning Inc.
Empire Petro (Certain Cheyenne Assets) -- M&K Oil Co Inc.
M&K Oil Co Inc. acquired certain Cheyenne River Prospect assets of Empire Petroleum Corp. , a Tulsa – based oil and gas exploration and production company and a majority - owned unit of Americomm Resources Corp. , for $0.17 mil.
Intercontinental Potash Corp. -- Trigon Uranium Corp.
Trigon Uranium Corp. (Trigon) signed a non – binding letter of intent to acquire the remaining share capital, which it did not already own, in Intercontinental Potash Corp. (ICP), a Golden - based potash mining company, via stock swap transaction. Upon completion, Trigon was to be renamed Intercontinental Potash Corp. and continue to be listed on the TSX Venture Exchange, and ICP was to be renamed ICP Corp.
Jack in the Box Inc. (Quick Stuff stores) -- Undisclosed Acquirer
Jack In the Box Inc (Jack In the Box) agreed to divest its 61 Quick Stuff convenience stores (Quick Stuff), an owner and operator of convenience stores, to an undisclosed acquiror, for cash. Originally, in October 2008, Jack in the Box announced that it was seeking a buyer for Quick Stuff.
ImaRx (Ischemic Stroke Therapy) -- WA 32609 Inc
WA 32609 Inc. agreed to acquire the Ischemic Stroke Therapy Program assets of ImaRx Therapeutics Inc. (ImaRx), a Redmond–based manufacturer and developer of thrombolytic drugs, for $0.5 mil. The transaction was to include ImaRx's clinical-stage SonoLysis program.
Kansas Creek Project -- Fire River Gold Corp.
Fire River Gold Corp. agreed to acquire the entire share capital in the Kansas Creek Project, located in Bonnifield District, Alaska, a gold mining project for $0.128. The consideration was to consist of $0.04 mil and the issuance of 0.25 mil in Fire common shares valued at $0.088 mil. The shares were valued based on Fire's closing stock price of $0.352 on 19 June 2009, the last full trading day prior to the announcement.
Longhorn Pipeline Holdings LLC -- Magellan Midstream Partners LP
Magellan Midstream Partners LP planned to acquire Longhorn Pipeline Holdings LLC unit (Longhorn), an owner and operator of natural gas pipelines, from bankrupt Flying J Inc. (Flying), via an auction, for $250 mil. Originally, in February 2009, Flying announced that it was seeking a buyer for its Longhorn unit.
William H. Sadlier Inc. -- Cauldron Group Inc
Cauldron Group Inc. (Cauldron) planned to acquire the remaining undisclosed minority stake, which it did not already own in William H. Sadlier Inc. (William), a New York-based publisher of educational and catechetical material.
SRX Transcontinental Inc. -- Amerijet International Inc.
Amerijet International Inc. acquired SRX Transcontinental Inc, a Fort Lauderdale-based provider of aviation and logistics services.
Southern Community Bank -- United Community Bank, Blairsville, GA
United Community Banks Inc. agreed to acquire Southern Community Bank, located in Fayetteville, Georgia.
Zephyr Technology Corp. -- Motorola Ventures
Motorola Ventures, a unit of Motorola Inc, acquired an undisclosed minority stake in Zephyr Technology Corp., a manufacturer of medical monitoring equipment.
Minneapolis Star & Tribune Co. -- Creditors
Bankrupt Minneapolis Star & Tribune Co, a Minnesota-based publisher of newspapers, agreed to a debt restructuring with creditors.
PetroSearch Energy Corp. -- Tiberius Capital LLC
Tiberius Capital LLC launched a tender offer to raise its interest to 51.06% from 14.77%, by acquiring a 36.29% stake, or 15.004 mil common shares in PetroSearch Energy Corp. , an oil and gas exploration and production company, for $0.33 in cash per share, or a total value of $4.951 mil.
Worcester Telegram & Gazette -- Seeking Buyer
The New York Times Co was rumored to be seeking a buyer for its Worcester Telegram & Gazette Inc. unit, a Worcester-based publisher of magazines.
Source Interlink Cos Inc. -- Seeking Buyer
In June 2009, bankrupt Source Interlink Cos Inc., a Bonita Springs - based provider of multimedia distribution services, announced that it was seeking a buyer for the company.
Data provided by Thomson Reuters
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