Notable Mergers and Acquisitions of the Day 03/23: (CL)/(UL) (TFX) (APC)/(BP)

• Colgate-Palmolive Company (NYSE: CL) announces that they have entered into an agreement for the acquisition of Sanex personal care brand from Unilever Plc (NYSE UL) at a price of €672 million (about $940 million).
  
  In connection with the Sanex acquisition, Colgate has agreed to sell its laundry detergent business in Colombia to Unilever for $215 million.
  
  These transactions are expected to have an accretive effect, on a combined basis, of approximately 4% on total company earnings in 2011 due entirely to the one-time gain on the detergent business sale and a positive effect on earnings in 2012 of approximately 1% from growth and efficiencies of the Sanex business.
  
  Citigroup Global Markets Inc. acted as exclusive financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor to Colgate-Palmolive on both transactions.
  
  
• Teleflex Incorporated (NYSE: TFX) announces the $121.6 million sale of its Marine business to an affiliate of H.I.G. Capital, LLC.
  
  The purchase price consisted of $101.6 million in cash proceeds, the buyer’s assumption of approximately $15.5 million in liabilities related to the business and a $4.5 million subordinated note from the buyer.
  
  FY11 revs expected to be reduced by $185 million, FY11 EPS will be $0.45 lower.
  
  
• After the market closed yesterday, Anadarko Petroleum Corporation (NYSE: APC) has entered an agreement for the $575.5 million acquisition of BP America Production Company's, of BP plc (NYSE: BP), 93% interest in the Wattenberg Processing Plant.
  
  Wattenberg Processing Plant, located in northeast Colorado, has the capacity to process approximately 195 million cubic feet per day (MMcf/d) of natural gas and 15,000 barrels per day of natural gas liquids and gas condensate.
  
  Upon closing, Anadarko will operate and have 100% ownership of the plant.
  
  The transaction is expected to close by mid-year, subject to applicable regulatory approvals and other contractual conditions.

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