Term Sheet

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

Private equity deals

July 16, 2012: 9:46 AM ET

TPG Capital has agreed to acquire Par Pharmaceuticals Corp. (NYSE: PRX), a Woodcliff Lake, N.J.-based generic drugmaker. The deal is valued at approximately $1.9 billion, or $50 per share (37% premium to Friday's closing price). A go-shop period runs through August 24.

Francisco Partners has acquired Cross Match Technologies Inc., a Palm Beach Garden, Fla.–based provider of biometric identity management systems, applications and services. www.crossmatch.com

Inverness Graham Investment has acquired DataSource Inc., a Kansas City-based print supply chain company. No financial terms were disclosed. Sellers include Greyrock Capital Group and High Street Capital. www.invernesscap.com

The Ontario Teachers' Pension Plan has agreed to acquire around a 75% stake in Norwegian outdoor clothing company Helly Hansen from Altor Equity Partners. No financial terms were disclosed, although Reuters reports that the deal is valued at approximately $326 million. www.hellyhansen.com

Pareto, a Toronto-based portfolio company of The Riverside Co., has acquired The Promotional Specialists, a Toronto-based provider of promotional products for "brand-oriented clients." No financial terms were disclosed. www.pareto.ca

Royal Bank of Scotland is considering offers for British auto insurer Direct Line, according to the Sunday Times. The Blackstone Group and Bain Capital reportedly are working together on a bid, while another investor consortium could include BC Partners, Apax Partners and KKR. RBS still may opt to float Direct Line in London later this year. www.rbs.com

Sycamore Partners has extended its $2.75 per share tender offer for women's apparel retailer The Talbots Inc. (NYSE: TLB) by one week to this coming Friday. As of last Friday, approximately80.1% of shares had beent tendered – including those already owned by Sycamore. If completed, the entire deal would be valued at approximately $369 million. www.talbots.com

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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.

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