Term Sheet

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

Mergers & acquisitions

December 27, 2012: 9:14 AM ET

Fubon Financial (Taiwan: 2881) has agreed to acquire an 80% stake in China's Firstinno Bank for approximately $1.03 billion. www.fubon.com

Steinway Musical Instruments Inc. (NYSE: LVB) has concluded an evaluation of strategic alternatives, without choosing to sell any of the company. This includes the termination of a previous agreement to sell its band instrument division to an investor group that included board members Dana Messina and John Stoner. The company had been advised by Allen & Co. www.steinwaymusical.com

Toshiba Corp. (Tokyo: 6502) is in talks to sell up to a 16% stake in nuclear power unit Westinghouse, according to Dow Jones. Suitors include Chicago Bridge & Iron Company NV (NYSE: CBI). Toshiba currently holds a 67% position in Westinghouse, and plans to buy back another 20% stake from Shaw Group Inc. (NYSE: SHAW). www.toshiba.com

Covidien (NYSE: COV) has agreed to acquire CV Ingenuity, a Fremont, Calif.-based provider of solutions to relieve vascular obstructions, inhibit restenosis and allow natural vessel healing for patients with peripheral arterial disease. No financial terms were disclosed. Sellers include BioStar Ventures, New Enterprise Associates, Life Science Angels, de Anda Capital, Synergy Ventures and Western Technology Investment. www.covidien.com

Wynnchurch Capital has sold 4Front, a Carrollton, Texas-based manufacturer of truck and rail loading dock equipment, to listed Swedish door opener maker Assa Abloywww.4frontes.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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