Term Sheet

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

Mergers & acquisitions

January 28, 2013: 11:00 AM ET

Compuware Corp. (Nasdaq: CPWR) said that it would listen to acquisition offers, after rejecting a $2.3 billion proposal from Elliott Management. The company felt the offer was too low, and plans to spin off its Covisint cloud software unit via a public listing. Elliott Management said that it remains "very interested." www.compuware.com

Goldman Sachs
 has begun a share sale of its $1 billion stake in Industrial and Commercial Bank of China (HK: 1398). www.icbc.com.cn

Johnson & Johnson
 (NYSE: JNJ) is seeking a buyer for its feminine products business, which includes brands like Stayfree, Carefree and K-Y, according to the WSJ. www.jnj.com

 (TSX: NDN), a Canadian provider of medical isotopes, said that it has launched a review of strategic alternatives. The company currently has a market cap just south of $400 million.www.mdsnordion.com

Siemens has retained Goldman Sachs to find a buyer for its Water Technologies unit, according to Reuters. The German conglomerate announced in November that it would seek a buyer for the unit, which has annual revenue of approximately €1 billion. www.siemens.com

Smedvig Capital has sold Selstor, a Swedish self-storage company, to Denmark's Pelican Self Storage. No financial terms were disclosed. www.pelicanselfstorage.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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