Trident Corporation Pty. Ltd. and Alceon Group Pty Ltd, Investment Arm agreed to acquire six-level office complex at 35 Robina Town Centre Drive from BlackRock, Inc. (NYSE:BLK) on May 16, 2013. Christian Sandstrom of Jones Lang LaSalle and Mark Witheriff of CBRE acted as real estate advisors for the transaction.

Quintessential Equity Pty Ltd acquired a commercial office building at 166 Epping Road, Lane Cove, Sydney from BlackRock, Inc. (NYSE:BLK) for approximately AUD 12.7 million on May 8, 2013. Melinda Graham of Thomsons Lawyers with support from the property team acted as the legal advisor Quintessential Equity.

Exchange Parent Corp., Rennes Foundation, Robin Raina and Robin Raina Foundation, Inc., Endowment Arm agreed to acquire Ebix Inc. (NasdaqGS:EBIX) from Ashford Capital Management Inc., BlackRock, Inc. (NYSE:BLK), Robin Raina, Robin Raina Foundation, Inc., Endowment Arm, Rennes Foundation and other investors for approximately $750 million in cash on May 1, 2013. Exchange Parent offered $20 per share for each share of Ebix. Pursuant to the agreement each outstanding option ... and share of restricted common stock will be converted automatically into the right to receive the offer per share for a total consideration of $31.9 million for options and $2.4 million for restricted common stock. Ebix has the right to “go shop” for a superior proposal for a period of 45 days from the date of merger agreement. If the agreement is terminated prior to the lapse of the Cut-Off Date Period in connection with Ebix entering into an alternative acquisition agreement in respect of a superior proposal Ebix will be liable to pay termination fee $15.54 million. If the termination fee becomes payable by Ebix under any other circumstances, the amount of the termination fee will be approximately $27.19 million. Exchange Parent will be required to pay the Ebix a termination fee of $45.0 million if the agreement is terminated under certain circumstances because Exchange Parent fails to complete the merger or otherwise breaches its obligations under the agreement such that conditions to the consummation of the merger cannot be satisfied. Rolf Herter, Robin Raina and Robin Raina Foundation, Inc., Endowment Arm will rollover their stakes in Ebix Inc as part of the transaction. Credit Suisse AG, Credit Suisse Securities (USA) LLC and Goldman Sachs Lending Partners LLC provided debt financing commitments to Exchange Parent Corp to fund the transaction. Goldman Sachs will provide equity contribution of $211.1 million to Exchange Parent. Goldman Sachs Lending Partners LLC will provide debt financing consisting of a $450 million senior secured facility, consisting of a $400 million senior secured term loan facility and a $50 million senior secured revolving credit facility and a $150 million senior secured second lien term loan facility. The deal is subject to expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, all actions by or in respect of filings with any governmental authority, required to permit the consummation of the merger, having been taken, made or obtained holders of a majority of the outstanding shares and other customary closing conditions, is expected to close in the third quarter of 2013. The Board of Directors and a special committee of the Board of Ebix and Exchange Parent Corp unanimously approved the transaction. The transaction is subject to approval of shareholders of Exchange Parent Corp and Ebix. Credit Suisse acted as financial advisor, John D. Amorosi, H. Oliver Smith, Sapna Dutta, Michael R. Patrone, Gary Pong, Jeffrey P. Crandall, Kathleen L. Ferrell, Juelle Gomes, Stephen M. Pepper of Davis Polk & Wardwell acted as legal advisor for Goldman Sachs Group, Merchant Banking Division. Christopher J. Dass, Richard A. Fenyes, Jennifer L. Hobbs and Eli Isak of Simpson Thacher & Bartlett LLP acted as legal advisor for Goldman Sachs with respect to financing for the transaction. Morgan Stanley acted as financial advisor and fairness opinion provider to the Special Committee of Ebix. Justin R. Howard and William S. Ortwein of Alston & Bird LLP acted as legal advisers to the Special Committee of Ebix. Richards, Layton & Finger, P.A. acted as legal advisor to Ebix Inc. Goldman, Sachs & Co. acted as financial advisor to Goldman Sachs. Sullivan & Cromwell LLP acted as legal advisor for Exchange Parent Corp.
Read More

CECO Environmental Corp. (NasdaqGM:CECE) entered into a definitive agreement to acquire Met-Pro Corp. (NYSE:MPR) from BlackRock, Inc. (NYSE:BLK), Invesco PowerShares Capital Management LLC and other shareholders for approximately $200 million in cash and stock on April 21, 2013. Under the terms of the agreement, Met-Pro's shareholders may elect to exchange each share of Met-Pro common stock for either $13.75 in cash and/or shares of CECO common stock. The consideration ... includes $7.25 per share in cash and $6.5 per share in CECO common stock. CECO will also pay $0.21 for restricted common stock and $4.75 million for options in cash. Overall elections are subject to proration such that approximately 53% of the Met-Pro shares will be exchanged for cash and 47% for stock. Bank of America, N.A. provided CECO committed debt financing of $125 million to support the cash portion of the transaction. If the transaction is terminated, Met-Pro may be required to pay CECO a termination fee of $6.74 million and CECO will be required to pay Met-Pro a reverse termination fee of $10.36 million. In connection with the execution of the merger agreement, on April 21, 2013, Icarus Investment Corp., Phillip DeZwirek and Jason DeZwirek, stockholders of CECO holding an aggregate of approximately 26% of CECO Common Stock, entered into a voting agreement for the transaction. The completion of the acquisition is subject to standard closing conditions including the approval of the stockholders of both CECO and Met-Pro, the effectiveness of the registration statement to be filed by CECO with respect to the CECO Common Stock to be issued in connection with the merger, Met-Pro’s Board of Directors fails to recommend against any publicly disclosed third party tender or exchange offer and all authorizations, consents, orders or approvals of, or declarations or filings with, and all expirations of waiting periods imposed by, any Governmental Authority . CECO’s obligation to complete the merger is not subject to any financing contingency. The Boards of Directors of each of CECO and Met-Pro have unanimously approved the transaction. Management of both CECO and Met-Pro will remain in leadership positions with Jeff Lang as Chief Executive Officer, Ray De Hont as Chief Operating Officer and Neal Murphy as Chief Financial Officer. The merger is expected to close on or before September 30, 2013.The transaction is expected to be accretive to CECO's earnings per share, margins and cash flow. Jefferies LLC acted as financial advisor and provided fairness opinion to CECO and William Blair & Company acted as financial advisor and provided fairness opinions to Met-Pro. Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as sole lead arranger and sole book runner, for senior secured financing facilities in the maximum aggregate amount of up to $125 million, consisting of a term loan facility and line of credit facility. Leslie J. Weiss of Barnes & Thornburg LLP acted as a legal advisor to CECO Environmental Corp. Jeffrey H. Nicholas of Fox Rothschild LLP acted as a legal advisor to Met-Pro Corporation.
Read More

Thermo Fisher Scientific, Inc. (NYSE:TMO) signed a definitive agreement to acquire Life Technologies Corporation (NasdaqGS:LIFE) from Glenview Capital Management, LLC, Paulson & Co. Inc., BlackRock, Inc. (NYSE:BLK) and other shareholders for $13 billion in cash on April 14, 2013. Under the terms of the agreement, Thermo Fisher will acquire Life Technologies for $76 per share. Thermo Fisher will also pay $300 million for restricted common stock and approximately $330 ... million for options. The final purchase price will also include assumption of net debt at close. Of the $13.6 billion of total cash consideration, the company expects the split to be cash and debt of $9.5 to $10.0 billion and equity of up to $4.0 billion. Thermo Fisher expects to maintain an investment-grade rating after the transaction has closed. Thermo Fisher has obtained committed bridge financing from J.P. Morgan and Barclays. If the merger does not close by January 14, 2014, by reason of the failure to obtain certain required antitrust approvals or the issuance or enactment by a governmental authority of an order or law prohibiting or restraining the merger (and such prohibition or restraint is in respect of an antitrust law), the cash price per share will increase by $0.0062466 per day during the period commencing on, and including, January 14, 2014, and ending on, and including, the closing date. The merger agreement contains certain termination rights and provides that, upon termination of the merger agreement under specified circumstances, including, but not limited to, a change in the recommendation of the Board of Directors of Life Technologies or a termination of the merger agreement by Life Technologies to enter into an agreement for a “superior proposal”, Life Technologies will pay Thermo Fisher a cash termination fee of $485 million. The merger agreement states that Thermo Fisher intends to maintain the “Life Technologies” name as a brand of the combined company following the closing of the merger, and to nominate at least one member of Life Technologies’s Board of Directors, selected by Thermo Fisher, for appointment to Thermo Fisher’s Board of Directors at the effective time of the merger. It is expected that Life Technologies’ President and Chief Operating Officer, Mark P. Stevenson, will have a significant leadership role in the combined company. In addition, Thermo Fisher intends to elect a member of the Life Technologies Board of Directors to the Thermo Fisher Board. The transaction was approved by both Thermo Fisher and Life Technologies Boards of Directors. The transaction is subject to a Life shareholder vote, the receipt of certain required antitrust approvals and satisfying customary closing conditions, including regulatory approvals and is expected to close early in 2014. The transaction is expected to generate attractive financial returns, as well as significant and immediate accretion to Thermo Fisher's adjusted EPS. J.P. Morgan and Barclays are acting as financial advisors to Thermo Fisher, and WilmerHale is serving as legal counsel. For Life, Deutsche Bank Securities Inc. and Moelis & Company are serving as financial advisors, and Richard Hall and Minh Van Ngo of Cravath, Swaine and Moore LLP are serving as legal counsel. Charles Ruck of Latham & Watkins LLP acted as legal advisor for Thermo Fisher. Matthew M. Guest, Edward J. Lee, Jacob A. Kling, Jeannemarie O’Brien and Gregory E. Pessin of Wachtell, Lipton, Rosen & Katz acted as legal advisors for Thermo Fisher Scientific. Slaughter and May acted as legal advisor for Thermo Fisher Scientific. Martin Coleman and Ian Giles of Norton Rose LLP acted as legal advisors for Life Technologies Corporation.
Read More

TPG Partners VI, L.P. of TPG Capital, L.P. entered into a definitive agreement to acquire Assisted Living Concepts Inc. (NYSE:ALC) for approximately $280 million in cash on February 25, 2013. Under the terms of the agreement, Assisted Living stockholders will receive $12 for each share of Class A common stock and Class B common stock will receive $12.90 per share. Tandem stock option holders of Assisted Living Concepts will receive $12 per option minus exercise price. ... TGP has obtained an equity financing commitment from TPG Partners VI, L.P. TPG has agreed to equity financing related to the transaction totaling $485 million. The agreement contains termination fees under which, Assisted Living will be required to pay TPG a termination fee of $7.25 million. TGP will also be required to pay a reverse termination fee of $40 million. The closing of the transaction is conditioned upon, among other things, affirmative votes of Assisted Living's stockholders, including a majority of the holders of its Class A common stock and Class B common stock, the approval by the holders of a majority of the voting power of outstanding shares of Class A Company common stock, excluding shares owned, directly or indirectly, by holders of Class B Company common stock, the expiration or termination of any waiting period applicable to the Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the receipt of customary regulatory approvals and other customary closing conditions. The transaction is not subject to a financing condition. The agreement was unanimously approved by Assisted Living's Board of Directors and a Special Committee of the Board of Directors formed in connection with the exploration of strategic alternatives. Shareholders of Assisted Living Concepts are scheduled to vote for the transaction on May 16, 2013. As on May 16, 2013, shareholders of Assisted Living Concepts approved the deal. The deal is still subject to receipt of customary regulatory approvals and other customary closing conditions. The transaction is expected to close in the summer of 2013. Citigroup Global Markets, Inc. acted as financial advisor to the Special Committee of Assisted Living Concepts for an advisory fee of $4.50 million. Erik R. Tavzel, Aaron Gruber, Jared M. Averbuch, David B. Page, Adrian Bingel, Eric W. Hilfers, Jarrett R. Hoffman, Lauren Angelilli, Joanne J. Lee, William B. Abbott, Matthew Morreale and Stephen R. Severo of Cravath, Swaine & Moore LLP acted as independent legal advisors to the Special Committee of Assisted Living Concepts. Goldman, Sachs & Co. acted as financial advisor and Joseph A. Coco, Harvey R. Uris, Peter D. Serating, Partner, Vered Rabia, John D. Rayis and Regina Olshan of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to TPG. O'Melveny & Myers, LLP acted as legal advisor to Assisted Living Concepts. KPMG LLP acted as accountant and Georgeson Inc. acted as information agent for Assisted Living Concepts Inc. for a fee of $0.01 million. Lisa Baker and Jennifer Hurson of Owen Blicksilver PR, Inc. acted as public relation advisors for TPG.
Read More

Royalty Pharma made an offer to acquire Elan Corporation, plc (NYSE:ELN) from a consortium of sellers for $6.6 billion on February 20, 2013. Under the terms of offer, Royalty Pharma will pay $11 per share. Royalty Pharma plans to finance the offer through a combination of available cash and debt. The sellers include Janssen Pharmaceuticals, Inc., Fidelity Management & Research Company, T. Rowe Price Group, Inc. (NasdaqGS:TROW), BlackRock, Inc. (NYSE:BLK), Invesco Limited, ... Wellington Management Company LLP and others. The deal is subject to completion of satisfactory due diligence into the business of Elan, completion of Tysabri transaction by Elan, approval by Board of Directors and shareholders of Elan Corporation and execution of an appropriate implementation agreement to govern the conduct of a scheme of arrangement if the transaction is to be structured in that manner. The transaction will be financed through a combination of available cash and debt. As on April 12, 2013, the tender offer was overwhelmingly passed with over 99% of the shares voted in favor of the resolution. The final price would be decided by Dutch Auction. As of April 17, 2013, Royalty Pharma increased the offer price to $12 per share. As of April 22, 2013, Elan Corporation, plc's Board of Directors unanimously rejected Royalty Pharma's offer as it substantially undervalues the company. Also, Elan shareholders are strongly advised to take no action in relation to the trasnaction. As of May 2, 2013, Royalty Pharma submitted formal cash offer. As on May 15, 2013, Elan Corporation announces publication of a response document in respect of offer made on May 2, 2013. BofA Merrill Lynch acted as lender for Royalty Pharma. BofA Merrill Lynch, Groton Partners and Henry Gosebruch, Dwayne Lysaght and James Mitford of JPMorgan Cazenove Limited acted as financial advisors, Tom Johnson of Abernathy and Tom Buchanan of Maitland acted as public relation advisors for Royalty Pharma. Citi Group, Inc. and acted as financial advisors for Elan Corporation. Morgan Stanley and Ondra Partners acted as financial advisor for Elan. A&L Goodbody and Cadwalader, Wickersham and Taft LLP acted as legal advisors to Elan. Akin Gump Strauss Hauer Feld LLP acted as legal advisor to Royalty Pharma. Matheson Financial Advisors, Inc. acted as financial advisor for Royalty Pharma. Davy Corporate Finance acted as financial advisor to Elan Corporation.
Read More

3G Capital Management, LLC through its fund, 3G Special Situations Fund III LP and Berkshire Hathaway Inc. (NYSE:BRK.A) entered into a definitive merger agreement to acquire H. J. Heinz Company (NYSE:HNZ) from BlackRock, Inc. (NYSE:BLK) and other shareholders for $23.4 billion in cash on February 13, 2013. The offer per share is $72.5 for common shares, phantom shares and restricted stock units of H. J. Heinz. The deal also involves a payment of $230.8 million for the ... option holders of H. J. Heinz. Heinz would serve as a platform for 3G Capital to make additional acquisitions in the food industry. The transaction will be financed through a combination of cash provided by Berkshire Hathaway and affiliates of 3G Capital; rollover of existing debt, as well as debt financing that has been committed by J.P. Morgan and Wells Fargo. J.P. Morgan and Wells Fargo have committed to provide $14.1 billion of new debt financing for the transaction, consisting of $8.5 billion of USD senior secured term loan B-1 and B-2 facilities, $2 billion of Euro/ British Pounds senior secured term loan B-1 and B-2 facilities, a $1.5 billion senior secured revolving facility and a $2.1 billion second lien bridge loan facility. Post completion, H. J. Heinz will become a private company. In case of termination by H. J. Heinz, it will pay a termination fee of $750 million and in case termination of the deal is done by 3G and Berkshire, the termination fee payable by them will be $1.4 billion. 3G and Berkshire each will bear 50% of this termination fee, up to a cap of $700 million. Post completion, H. J. Heinz will remain headquartered in Pittsburgh. The transaction is subject to approval by Heinz shareholders, preferred stock holders’ approval antitrust approval, receipt of regulatory approvals and other customary closing conditions. The deal is not subject to a financing condition. The deal has been unanimously approved by H. J. Heinz’s Board of Directors and Board of Directors of 3G Capital Management and Berkshire. A transaction committee of Board of Directors of H. J. Heinz has been formed for the deal. The deal is expected to close in the third (calendar) quarter of 2013. As of March 4, 2013, the agreement was amended with respect to the restricted stock units. As per the amendment, instead of accelerated vesting and cash-out in full at the effective time of the transaction, retention restricted stock units would remain subject to the vesting schedule pursuant to the existing terms of the applicable award agreements and that the general timing of payment would be in accordance with such terms. As of March 26, 2013, the Administrative Council for Economic Defense (Cade) approved the deal. As on March 27, 2013, shareholders of H.J. Heinz Co will vote in a special meeting slated for April 30, 2013 which will be held in office of Davis, Polk & Wardwell LLP. During week ending April 6, 2013, The Competition Commission of India approved the transaction. As per the information available on April 10, 2013, Regulatory agencies in Israel and Brazil have approved the deal. As of April 12, 2013, H.J Heinz Co. would hire Burger King Worldwide Inc.’s Chief Executive Officer, Bernardo Hees as its new Chief Executive Officer. As of April 29, 2013, a Pittsburgh judge has dismissed multiple lawsuits over the transaction. As of April 30, 2013, the transaction was approved by shareholders of Heinz. The transaction has received antitrust clearance in the United States, South Korea, Japan, Mexico, South Africa and Ukraine. Centerview Partners LLC BofA Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as financial advisors and Arthur F. Golden, John A. Bick, Michael Davis, Lee Hochbaum, Kyoko Takahashi Lin, Kathleen L. Ferrell, James A. Florack, Michael Kaplan, Sophia Hudson and Ronan P. Harty of Davis Polk & Wardwell LLP acted as legal advisor to H. J. Heinz. Moelis & Company L.P. acted as financial advisor and Edward D. Herlihy and David E. Shapiro of Wachtell, Lipton, Rosen & Katz acted as legal advisor to the transaction committee of H. J. Heinz's Board of Directors. BofA Merrill Lynch, Pierce, Fenner & Smith Incorporated, Centerview Partners LLC and Moelis & Company L.P. stated that deal is fair and provided fairness opinion to the deal. J.P. Morgan Securities LLC, Lazard Freres & Co. LLC and Wells Fargo Securities, LLC acted as financial advisors to 3G Capital Management and Berkshire Hathaway. Stephen Fraidin, William B. Sorabella and David B. Feirstein of Kirkland & Ellis LLP and Robert E. Denham, Mary Ann Todd of Munger, Tolles & Olson acted as legal advisors to 3G Capital Management and Berkshire Hathaway. Steve Lipin of Brunswick Group acted as public relations advisor to H.J. Heinz. Steven Seidman and Laura Delanoy of Willkie Farr & Gallagher acted as legal advisor to Bank Of America. Frank Aquila, Brian Hamilton and Marshall Yuan of Sullivan & Cromwell LLP acted as legal advisor for Centerview Partners. Centerview Partners LLC, Mer
Read More

BlackRock, Inc. (NYSE:BLK) acquired 8.21% stake in Manchester United plc (NYSE:MANU) on January 30, 2013. As a part of the acquisition, BlackRock, Inc. acquired 3.26 million shares in Manchester United.

IOOF Holdings Limited (ASX:IFL) acquired 107 Pitt Street from BlackRock Direct Property Fund (Aust) of BlackRock, Inc. (NYSE:BLK) for AUD 23.6 million on January 24, 2013. BlackRock Direct Property Fund carried about AUD 87 million of debt at the end of December 2012 and the sales proceeds will be split between cutting debt and more payments to investors. Vince Kernahan and Steve Kovacs of Colliers International and James Aroney and Ben Schubert of Jones Lang LaSalle ... acted as brokers in the transaction.
Read More

Sponsored Financial Commentaries

To contact BLACKROCK INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.