Notable Mergers and Acquisitions of the Day 12/17: SAY, ADSK, TDG
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- Corporate Stock Buybacks Driving Today's Action?
- Satyam Computer Services (NYSE: SAY) said it is not going ahead with its proposed acquisition of Maytas Properties and Maytas Infra, in light of the feedback received from the Investor community.
Commenting on this decision, Satyam Chairman, Mr. Raju said, "We have been surprised by the market reaction to this decision even though we were quite positive about the merits of the acquisition. However, in deference to the views expressed by many investors, we have decided to call off these acquisitions."
- Autodesk, Inc. (Nasdaq: ADSK) announced today that it has signed a definitive agreement to acquire ALGOR, Inc., a leading provider of analysis and simulation software, for approximately $34 million.
Headquartered in Pittsburgh, Pennsylvania, ALGOR's computer aided engineering software is used for product design and development in the automotive, aerospace, medical, consumer products, defense, energy and utilities industries. The acquisition will strengthen the Autodesk solution for Digital Prototyping with new advanced simulation functionality, including multiphysics, mechanical event simulation and fluid flow.
- TransDigm Group Incorporated (NYSE: TDG) has acquired the stock of Aircraft Parts Corporation from Unison Industries LLC, a wholly-owned subsidiary of General Electric Company's GE Aviation business unit (NYSE: GE), for approximately $68 million in cash. APC has been a supplier of proprietary, highly engineered components to the commercial aerospace industry for almost 50 years. APC, located in Holtsville, New York, has unaudited annual revenues of approximately $33 million.
To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions
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