Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

M&A

January 13, 2012: 10:40 AM ET

Pfizer Inc. (NYSE: PFE) has received offers for its baby formula business from Nestle and Danone SA, according to Bloomberg. www.pfizer.com

Acacia Research Corp. (Nasdaq: ACTG) has acquired Adaptix Inc., a Carrollton, Texas–based developer of 4G technologies, for $160 million. Adaptix had raised private equity funding from Baker Capital. www.adaptix.com

Goldman Sachs and Cerberus Capital Management have sold their remaining 20% stake in listed German property company GSW Immobilien AG, for around €175 million.

Crown Castle International Corp. (NYSE: CCI) has agreed to acquire Wireless Capital Partners, a portfolio of ground lease-related assets, for approximately $180 million in cash and the assumption of around $320 million in debt. Sellers include Goldman Sachs and Morgan Stanley. www.crowncastle.com

Carl Icahn has withdrawn his $1.7 billion, or $15 per share, buyout offer for Commercial Metals Co.(NYSE: CMC). www.cmc.com

Omnicare's (NYSE: OCR) $441 million bid for smaller rival Pharmerica Corp. (NYSE: PMC) is likely to be blocked by the Federal Trade Commission, according to the NY Post. Pharmerica already has rejected the $15 per share bid, and adopted a poison pill. www.omnicare.com

Starboard Value, the largest shareholder in Wausau Paper (NYSE: WPP) with a 7.5% stake, said that the company should evaluate strategic alternatives, including a sale of the company. Wausau Paper has a market cap of approximately $416 million. www.wausaupaper.com

GTCR has agreed to sell APS Healthcare Inc., a White Plains, N.Y.–based provider of specialty healthcare solutions, to Universal American Corp. (NYSE: UAM) for $227.5 million. The deal includes up to $50 million in performance-based earnouts and $147.5 million in cash to retire APS Healthcare's outstanding debt. www.gtcr.com

Apple Inc. has confirmed its acquisition of Anobit Inc., an Israel-based provider of solutions to the NAND flash memory market. No pricing terms were disclosed, but reports are that the deal was valued at between $400 million and $500 million. Anobit had raised over $70 million in VC funding, from firms like Battery Ventures, Intel Capital and Pitango Venture Capital. www.anobit.com

Rakuten, a Japanese Internet services company, has completed its previously-announced acquisition of Canadian e-reader and e-book company Kobo for $315 million in cash. Kobo shareholders include Indigo Books & Music, Borders Group, Cheung Kong Holdings, Horizon Ventures and REDgroup Retail.www.kobo.com

Get earlier M&A news

Posted in:
Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.