Notable Mergers and Acquisitions of the Day 10/26: IGLD/SMLC, PLPC/TEL, ATI

October 26, 2009 10:18 AM EDT

• Internet Gold - Golden Lines Ltd. (NASDAQ: IGLD) today announced that its 75.3% owned subsidiary, 012 Smile.Communications Ltd. (Nasdaq: SMLC) has entered into a definitive share purchase agreement under which it will acquire a controlling interest of approximately 30.6% in Bezeq, The Israel Telecommunication Corp., Israel's largest telecommunications provider from Ap.Sb.Ar. Holdings Ltd.
  
  The deal was a cash transaction valued at approximately NIS 6.5 billion [about $1.76 billion], or NIS 8.00 per share [about $2.17], representing a 7.0% discount on the shares of Bezeq based on Bezeq's closing share price prior to the announcement (as of October 22, 2009).
  
  
• Preformed Line Products Company (NASDAQ: PLPC) announced today that it has signed a definitive agreement to acquire the assets and equity interests of the Dulmison Business (Dulmison) from Tyco Electronics Ltd. (NYSE: TEL). The transaction is expected to close within ninety days.
  
  Dulmison designs, manufactures and markets pole line hardware and vibration control products for the global electrical utility industry. Dulmison is based out of Australia with operations in Thailand, Indonesia, Malaysia, China, Mexico and the United States. The acquisition of Dulmison will strengthen Preformed's position in the power distribution and transmission hardware market and will expand its presence in the Asia-Pacific region.
  
  
• Allegheny Technologies Incorporated (NYSE: ATI) announced that it has completed the purchase of the assets of Crucible Compaction Metals and Crucible Research for $40.95 million. The combined resources of Crucible Compaction Metals and Crucible Research constitute one of the world's most technically advanced producers of nickel-based superalloy powder metals used in the aerospace and defense, oil and gas, electrical energy, and medical markets. ATI also announced that the business has been named ATI Powder Metals.
  
  "Expanding our product breadth into technically advanced powder metals has been an ATI strategy for some time. This important acquisition is an excellent entry point," said L. Patrick Hassey, Chairman, President and Chief Executive Officer of Allegheny Technologies. "ATI Powder Metals is a supplier of nickel-based superalloy powder products for use in jet engines and other critical applications. Advanced powder metal engineered products are preferred for certain near-net shape parts that require complex alloy chemistries.

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

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• UBS
• Notable Mergers and Acquisitions

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?