Term Sheet

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

Mergers & acquisitions

February 11, 2013: 10:01 AM ET

CIT Group (NYSE: CIT) has had "preliminary talks over the past year and a half to sell itself to banks, including Toronto-Dominion Bank and Wells Fargo & Co.," according to Reuters. The report adds that "nothing came of the conversations." www.cit.com

Hakon Invest
 has agreed to acquire the 60% it does not already own in Nordic supermarket operator ICAfrom Royal Ahold for approximately $3.1 billion in cash. www.hakoninvest.se

Eric Schmidt
 plans to sell around 42% of his stake in Google Inc. (Nasdaq: GOOG), where he serves as executive chairman, according to a regulatory filing. The sale could be worth around $2.5 billion. www.google.com

Radware (Nasdaq: RDWR) has acquired Strangeloop Networks, a Vancouver-based provider of front-end optimization solutions. No financial terms were disclosed. Strangeloop had raised around C$10 million from Canadian angel investors. www.radware.com

Siemens AG next quarter will launch auctions for its solar, traffic systems and postal automation and baggage handling businesses, according to Reuters. www.siemens.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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