StreetInsider.com Notable Mergers and Acquisitions of the Day 11/01

November 1, 2007 10:06 AM EDT

Altria Group, Inc. (NYSE: MO) entered into an agreement to acquire 100% of John Middleton, Inc., a leading manufacturer of machine-made large cigars, from privately held Bradford Holdings for $2.9 billion in cash.

John Middleton, Inc.'s operating revenues are projected to reach $360 million in 2007, generating operating income of $182 million.

i2 (Nasdaq: ITWO) yesterday announced that its board of directors formed a committee of independent directors to consider and evaluate the merits of the various strategic options available to i2 in order to enhance shareholder value. These strategic options may include changes to the i2’s operations, actions or transactions intended to enhance the value or utilization of i2s existing assets (including the Company’s intellectual property and net operating loss carryforwards), joint ventures or strategic partnerships, selective acquisitions, dispositions or other capital transactions, and a merger, sale or other extraordinary business transaction involving the Company.

American Standard Companies Inc. (NYSE: ASD) announced completion of the sale of its global Bath and Kitchen products business to funds advised by Bain Capital Partners, LLC, a leading private investment firm, for $1.745 billion including closing adjustments.

American Standard Companies intends to use the net proceeds after expenses and taxes to repurchase common stock and reduce debt to keep the company at investment-grade standards. The company's board of directors has authorized an additional $750 million for the repurchase of common stock through December 2008.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

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