Notable Mergers and Acquisitions of the Day 9/8: GEHL, ACV/PG, NCEM

September 8, 2008 9:47 AM EDT


  • Gehl Company (NASDAQ: GEHL) today announced that it had signed a definitive agreement to be acquired for $30 per share by its largest shareholder, Manitou BF S.A. The transaction, with an aggregate enterprise value of approximately $450 million, will be effected through a tender offer for all outstanding shares of Gehl by a Manitou subsidiary, Tenedor Corporation, followed by a second step, cash-out merger. The all-cash $30 per share purchase price reflects a 120% premium over the Company's closing price on September 5, 2008. It is expected that the current management team will be retained following the transaction.

  • Alberto-Culver Company (NYSE: ACV) today announced that it had signed an agreement to acquire the worldwide rights and trademarks to the Noxzema skin care brand from The Procter & Gamble Company (NYSE: PG). The agreement includes the existing business in the United States, Canada and portions of Latin America. Procter & Gamble will continue to operate its existing Noxzema shave care, antiperspirant/deodorant, body wash and body soap business in portions of Western Europe. The transaction is subject to customary closing conditions, including obtaining certain regulatory approvals.

  • Nevada Chemicals, Inc. (Nasdaq: NCEM) announced that it has signed a definitive agreement to be acquired by Calypso Acquisition Corp., an affiliate of Cyanco Holding Corp. and OCM Principal Opportunities Fund IV, L.P., a fund managed by Oaktree Capital Management, L.P., for $13.37 per share of common stock.

    The offer price represents approximately a 36% premium over the closing stock market price of Nevada Chemicals' common stock on September 5, 2008 of $9.80.
To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions


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Stocks Mentioned

ACV 21.36

-0.52 -2.38%
Volume: 887,828
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GEHL 30.05

+0.00 +0.00%
Volume: 113,568
Track GEHL

NCEM 13.33

+0.00 +0.00%
Volume: 2,126
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PG 61.25

-1.63 -2.59%
Volume: 17,919,621
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