Notable Mergers and Acquisitions of the Day 08/24: (TRNX) (QEP) (EKDKQ) (SVU)
- Tornier N.V. (Nasdaq: TRNX) has signed a definitive agreement to acquire OrthoHelix Surgical Designs, Inc. for $135 million plus additional payments over two years, which will be based on achieving certain revenue growth milestones.
OrthoHelix will continue to operate under the OrthoHelix name, retain all of its product brand names in the market, and customers will continue to be served by OrthoHelix and their distribution partners. Central operations of the OrthoHelix business will remain based in Medina, Ohio as will its 80 dedicated employees.
- SUPERVALU Inc. (NYSE: SVU) is higher on reports Thursday night that the company's advisors are closer to sniffing out a potential buyer, or buyers.
Bloomberg is reporting that Cerberus Capital Management LP is examining a possible deal involving the Albertsons unit. Koninklijke Ahold NV, the Amsterdam-based parent of Giant Food Stores LLC, is interested in the Shoppers chain, which operates in Maryland, Virginia and Washington, one person said.
- QEP Resources Inc. (NYSE: QEP) announced that its wholly owned subsidiary QEP Energy has entered into two definitive agreements with multiple sellers to acquire significant crude oil development properties in the Williston Basin for an aggregate purchase price of approximately $1.38 billion. The properties are located in Williams and McKenzie counties of North Dakota, approximately 12 miles west of QEP's existing core acreage in the Williston Basin.
Effective date of July 1, 2012, with estimated closing date on or before September 27, 2012; Aggregate current net production approximately 10,500 barrels of oil equivalent per day (Boepd); and Aggregate net proved and probable reserves of approximately 125 million barrels of oil equivalent (MMBoe), comprised of approximately 81% crude oil, 9% NGL and 10% natural gas.
- Eastman Kodak Company (OTCBB: EKDKQ) outlined its next steps toward a successful emergence from Chapter 11 reorganization as a company primarily focused on commercial, packaging and functional printing solutions and enterprise services. Accordingly, the company has initiated sale processes for its market-leading Personalized Imaging and Document Imaging businesses.
Kodak believes that the sale of these assets, as well as continued cost-reduction initiatives, curtailment of its legacy liabilities, and the monetization of the company’s digital imaging patent portfolio, will be significant milestones toward completing the company’s reorganization and emergence from Chapter 11 during 2013.
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Related EntitiesCerberus Capital, Crude Oil, Bankruptcy, Notable Mergers and Acquisitions
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