Notable Mergers and Acquisitions of the Day 3/20: WCN, IM, IMMR, CTAS, KGC

March 20, 2009 10:25 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Waste Connections (NYSE: WCN) announced that it has entered into an agreement to purchase the Potrero Hills Landfill in Northern California from Republic Services, Inc. (NYSE: RSG). The landfill, located in Suisun City, California, is being divested as a result of Republic Services' recent merger with Allied Waste Industries, Inc. The transaction remains subject to customary closing conditions, including regulatory approval. Closing is expected to occur during the second quarter of 2009. Terms of the deal were not disclosed.
  
  
• Ingram Micro Inc. (NYSE: IM) announced its intentions to restructure operations in the Nordic countries of the EMEA (Europe, Middle East and Africa) region to position the company for greater profitability. Through the restructuring program, Ingram Micro will focus its broad-based distribution operations on the Swedish market while further developing its data capture/point-of-sale (DC/POS) business in four Nordic countries.
  
  The sale of Ingram Micro's broad-based distribution business in Denmark. The company recently entered into a definitive agreement to sell the assets of its Danish operations to Actebis Group, a technology distributor based in Germany.
  
  
• Hirsch Electronics Corporation announced that its shareholders have adopted the Agreement and Plan of Merger, dated December 10, 2008, by and among Hirsch, SCM Microsystems (NASDAQ: SCMM), and two wholly-owned subsidiaries of SCM, pursuant to which Hirsch will become a U.S.-based, wholly-owned subsidiary of SCM.
  
  
• Immersion Corporation (NASDAQ: IMMR) announces the sale of its CyberGlove business to the private equity firm Shackleton Advisors. The sale is part of Immersion's strategic initiative to divest its 3D product line and focus on its Medical and Touch lines of business. Financial terms of the deal are not being disclosed.
  
  
• BVF Acquisition LLC, an affiliate of Biotechnology Value Fund L.P., which has commenced a cash tender offer to purchase all of the outstanding shares of Avigen, Inc. (Nasdaq: AVGN), announced that it is increasing its cash tender offer price from $1.00 per share to $1.20 per share. The offer is currently scheduled to expire at 6:00 p.m., New York City time, on Friday, April 3, 2009. The key condition to the offer is the election of BVF's nominees.
  
  
• Cintas Corporation (Nasdaq: CTAS) has acquired Aktenmuehle GmbH, one of the largest independent document destruction businesses in Europe, specializing in secure, on-site document management solutions. Headquartered in Munich, Aktenmuehle will transition to Cintas Document Management Germany GmbH in the coming months.
  
  
• Kinross Gold Corporation (NYSE: KGC) announced today that it has signed a subscription agreement with Harry Winston Diamond Corporation (NYSE: HWD) further to which Kinross will make a net investment of $150 million in exchange for an indirect interest in the Diavik Diamond Mine in Canada's Northwest Territories and a 19.9% shareholding in Harry Winston.

To see all the Mergers & Acquisitions for today in real-time go to Mergers+and+Acquisitions

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