M&A; Watch: Rotork, Fairchild, Medtronic, Bain, Midstream, Marathon, Filtrona, Richco, San Diego Union Tribune
Friday, November 18, 2021 12:30 PM

Some noticeable M&A for today are discussed below.

Rotork Buys US Power-tools Firm

Industrial machinery firm Rotorck Plc(LON:ROR) announced the acquisition of U.S-based power tools maker Fairchild Industrial Products Co. for $75.8 million in cash. Rotork said $7.7 million will remain in escrow account for two years.

Medtronic to Sell Physio-Control Unit

Medtronic Inc.(NYSE:MDT), a heart-rhythm devices maker, announced sale of its Physio-Control unit to Bain LLC for $487 million in cash. The deal is expected to close by first quarter of fiscal 2012.

Midstream Partners LP to Acquire 50 pct Interest in Burns Point Gas Plant

Midstream Partner LP (NYSE:AMID) is to acquire 50 percent interest in the Burns Point Gas Plant from subsidiary of Marathon Oil Corp. (NYSE:MRO) for $38 million in cash. The transaction will close by fourth quarter of 2011 and will be financed by Midstream’s existing revolving credit facility.      

Filtrona Buys Richco for $110 Million

British plastic and fiber products supplier Filtrona Plc (LON: FLTR) announced the acquisition of Chicago-based engineered plastic and elastomeric services provider Richco Inc. for $110 million in cash to gain access to consumer electronics, industrial and telecom markets.

San Diego Real Estate Developer to Buy San Diego Union Tribune

Doug Manchester, a San Diego based real estate developer, agreed to buy 143-old newspaper San Diego Union Tribune for more than $110 million in cash. "We look forward to building on the foundation that has been established by current management and ownership, serving the community and working towards a fully integrated digital and print news media platform," Manchester said in a statement.