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

To: richardred who wrote (2623)	1/13/2011 9:44:03 AM
From: richardred	Read Replies (1) \| Respond to of 7243

GE to Acquire Lineage Power for $520 Million Published: Thursday, 13 Jan 2011 \| 8:47 AM ET Text Size By: AP General Electric's energy division is buying privately held Lineage Power Holdings in a deal worth about $520 million so its energy unit can gain a foothold in the power conversion space. The Fairfield, Conn. company said Thursday that the purchase from The Gores Group is another step in its energy expansion efforts. In October GE said it planned to buy energy infrastructure company Dresser. It also plans to make a buyout offer for oil pipe maker Wellstream Holdings. The Lineage Power acquisition is expected to close in the first quarter. “According to recent studies, there will be 1.1 billion smartphones sold globally by 2013," said Dan Heintzelman, GE Energy Services President & CEO, in a prepared statement. "As the data-driven economy grows, the addition of Lineage Power's business platform continues the expansion of GE Energy's offerings from the electric grid to data centers, cell towers, routers, servers and circuit board electronics." Lineage Power, based in Plano, Texas, had 2010 revenue of approximately $450 million. It has almost 2,300 employees and manufacturing operations in China, Mexico and India. Shares of GE [GE 18.75 0.08 (+0.43%) ] rose slightly in pre-market trading Thursday. GE is the parent company of CNBC and CNBC.com. cnbc.com\|headline\|quote\|text\|&par=yahoo

To: richardred who wrote (2623)	9/12/2011 9:05:47 AM
From: richardred	Respond to of 7243

Technip Buys Global Industries in $937 Million Subsea Expansion Technip SA (TEC), Europe’s second-biggest oil services company, will buy Global Industries Ltd. (GLBL) for $937 million to expand in the market for underwater energy projects. The offer price of $8 a share is 55 percent more than Global Industries’s closing price on Sept. 9, Paris-based Technip said today in a statement. The purchase price excludes $136 million of debt. “The subsea market looks likely in 2011 to show a record amount of orders for our industry,” Chief Executive Officer Thierry Pilenko said in the statement. Offshore developments in Brazil, the Gulf of Mexico, West Africa and Asia Pacific are expected to start up, he said. High and “fairly stable” oil prices, combined with increasing demand for natural gas, are driving investments according to Technip, which makes equipment for oil and gas exploration and builds liquefied natural gas installations . It’s biggest competitor in Europe is Italy’s Saipem SpA. Technip fell 2.4 percent to 83.66 euros as of 9:12 a.m. in Paris. The shares are down 8 percent this year. The purchase, unanimously approved by the board of Carlyss, Louisiana-based based Global Industries, will add 5 to 7 percent to Technip’s earnings per share in 2013, the company said. The deal is expected to be completed early next year. Global Industries will add 14 vessels, bringing Technip’s fleet to 34, and will expand its market by around 30 percent in deep-to-shore subsea infrastructure, according to the statement. Technip wants to “broaden its business and range of services” in the fast-growing subsea market, the company said. Technip is seeking to broaden the range of its services to producers including Exxon Mobil Corp., Royal Dutch Shell Plc, Total SA and Saudi Aramco, Chief Financial Officer Julian Waldron said in an interview in May. Increasing investment and shareholder payouts were higher priorities than carrying out any large-scale acquisition, he said at the time, when he estimated the company had about $1.5 billion in cash reserves. Technip’s financial advisers were Blackstone Advisory Partners and Tudor, Pickering, Holt & Co. Securities. bloomberg.com