Term Sheet

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

Mergers & acquisitions

February 12, 2013: 9:55 AM ET

CBPE Capital has sold Rosemont Pharmaceuticals, a UK-based developer of liquid medicines for patients with swallowing difficulties, to Perrigo Co. (Nasdaq: PRGO). No financial terms were disclosed, except that CBPE said the sale represented an investment multiple of its £52 million equity investment (the overall original purchase price in 2006 was £93 million). www.rosemontpharma.com

Toshiba (Tokyo: 6202) has acquired Consert, a San Antonio, Texas-based developer of smart grid solutions. No financial terms were disclosed. Consert had raised over $17 million in VC funding from such firms as Constellation Energy Group, Energy Technology Ventures, GE Energy Financial Services, Qualcomm Ventures and Verizon Ventures. www.consert.com

Steel Partners (NYSE: SPLP) has agreed to acquire 7.5 newly-issued shares in ModulLink Global Solutions Inc. (Nasdaq: MLNK) for $30 million, or $4 per share (45% premium to last Friday's closing price). Steel Partners also would be issued warrants to purchase an additional 2 million shares at $5 per share, plus up to approximately 1.4 million shares of ModusLink's outstanding common stock. www.moduslink.com

Sumner Redstone has sold the majority of his Class B shares in Viacom (Nasdaq: VIAB), where he serves as chairman. The sale was valued at approximately $7.5 million, and does not affect Redstone's continued control of the company (via Class A shares). www.viacom.com

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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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