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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (1481)	1/6/2007 12:17:01 AM
From: richardred	Respond to of 7254

Griffon Corporation Announces Acquisition of Las Vegas Cabinet Installation Operation Friday January 5, 5:20 pm ET JERICHO, N.Y., Jan. 5 /PRNewswire-FirstCall/ -- Griffon Corporation (NYSE: GFF - News), today announced that through its wholly-owned subsidiary Clopay Service Company, it has acquired the business of Cabinet West Distributors, Inc., a leading Las Vegas based cabinet installation company serving the new residential housing marketplace in southern Nevada. The company's sales in the most recent year were approximately $30,000,000. The acquisition includes an initial cash payment and additional performance based incentives determined over a three year period. The company will operate as a division of Clopay's Adams Bros. Interiors business, and will continue to be managed by its founder, Mr. Rick Wilder. Adams Bros. Interiors, is a leader in serving new residential construction in the southwest U.S., providing flooring and cabinet design and installation. This acquisition provides a platform to expand Adams Bros.' presence in the growing Las Vegas market and its position in cabinet installation. Griffon Corporation - * is a leading manufacturer and marketer of residential, commercial and industrial garage doors sold to professional installing dealers and major home center retail chains; * installs and services specialty building products and systems, primarily garage doors, openers, fireplaces and cabinets, for new construction markets through a substantial network of operations located throughout the country; * is an international leader in the development and production of embossed and laminated specialty plastic films used in the baby diaper, feminine napkin, adult incontinent, surgical and patient care markets; and * develops and manufactures information and communication systems for government and commercial markets worldwide. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation statements regarding the company's financial position, business strategy and the plans and objectives of the company's management for future operations, are forward-looking statements. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the company or its management, identify forward-looking statements. Such forward- looking statements are based on the beliefs of the company's management, as well as assumptions made by and information currently available to the company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, business and economic conditions, results of integrating acquired businesses into existing operations, competitive factors and pricing pressures for resin and steel, capacity and supply constraints. Such statements reflect the views of the company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the company. Readers are cautioned not to place undue reliance on these forward-looking statements. The company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. Source: Griffon Corporation biz.yahoo.com

To: richardred who wrote (1481)	1/6/2007 12:20:57 AM
From: richardred	Respond to of 7254

Goldman Sachs Scores Top Spot for M&A Friday January 5, 6:12 pm ET Goldman Sachs, JPMorgan Score Top Spots for M&A in North America NEW YORK (AP) -- Goldman Sachs Group Inc., the biggest Wall Street investment bank, goes down as the most prolific adviser of merger and acquisition deals in 2006, according to M&A tracking firms. The New York-based securities power house gets bragging rights in what has been a record year for deal making, with some $4 trillion worth of global takeovers tallied. Data provided by both Thomson Financial and M&A Web site mergermarket.com placed Goldman as the No. 1 adviser on deals for North America this year. There was some $1.5 trillion worth of deal activity in 2006, up by about 35 percent from the previous year -- and Goldman captured a huge share. JPMorgan Chase & Co. came in a close second in the rankings. Higher participation from private equity firms and a robust market environment helped drive M&A in 2006 to levels not seen since the dot-com boom. Last year, companies were willing to shell out large sums of money to expand because of unprecedented double-digit profit growth in the past five years. Goldman had 216 deals during the year worth $564.31 billion, according to Thomson; while Mergermarket counts 171 deals worth $588.57 billion. JPMorgan had 210 deals worth $471.74 billion, according to Thomson; while Mergermarket gave Morgan 196 deals worth $472.72 billion. As for the rest of the rankings, both Thomson and Mergermarket diverge. Thomson gave Morgan Stanley Inc. the third spot at $433.31 billion; Citigroup Inc. at fourth with $399.9 billion of deals, Lehman Brothers Holdings Inc. at fifth with $383.94 billion; Merrill Lynch & Co. was No. 6 with $394.44 billion; Credit Suisse Group at seventh with $252.67 billion; UBS at eighth with $240.52 billion; Bear Stearns & Cos. in ninth place with $218.33 billion; and Lazard Ltd. No. 10 with $193.83 billion. Meanwhile, Mergermarket has a slightly different take. The Web site and data provider has Citigroup third at $469.92 billion; Morgan Stanley fourth at $438.63 billion; Credit Suisse at fifth with $381.41 billion; Merrill Lynch at sixth with $353.95 billion; Lehman at seventh with $307.94 billion; UBS at eighth with $282.7 billion; Banc of America No. 9 with $248.1 billion; and Deutsche Bank AG 10th with $193.2 billion. Among the bigger deals these investment banks competed for was BellSouth Corp.'s $89.4 billion acquisition of AT&T Inc., the $32.7 billion private equity deal to buy hospital operator HCA Inc., and the yet-to-be-completed $27.8 billion takeover of Harrah's Entertainment Inc. by buyout shops. biz.yahoo.com

To: richardred who wrote (1481)	6/13/2007 10:52:58 AM
From: richardred	Respond to of 7254

Griffon says investor demands 'without merit' LOS ANGELES, June 4 (Reuters) - Griffon Corp. (GFF.N: Quote, Profile , Research) said on Monday that demands made by the Clinton Group, its second largest institutional investor, were "completely without merit" and not in the best interest of its shareholders. Clinton, which holds just over 8 percent of Griffon's outstanding shares, had earlier said it would try to force strategic changes via direct shareholder means on the maker of garage door parts and specialty plastic items. Griffon said it has made no decision to pursue a recapitalization or any other specific course of action and said the hedge fund's "'proposal' does not appear to be in the best interest of the company or our shareholders." yahoo.reuters.com