M&A

May 31, 2011, 7:46 PM UTC

Garmin (Nasdaq: GRMN) is in talks to acquire German GPS device maker Navigon for approximately €50 million, according to Financial Times Deutschland. Navigon is majority-owned by private equity firm General Atlantic.

Thoma Bravo has sold Manatron, a Portage, Mich.–based provider of tax automation and land registry software for governments, to Thomson Reuters (NYSE: TRI). No financial terms were disclosed. Thoma Bravo took Manatron private in 2008 for approximately $66 million. www.manatron.com

Molson Coors Brewing Co. (NYSE: TAP) and Mexico’s Grupo Modelo are considering a joint bid for Australian brewer Foster’s Group (ASX: FGL), according to Reuters. Foster’s is currently trading with a market cap of A$8.9 billion. www.fosters.com

Tesla Motors (Nasdaq: TSLA) raised $152 million via a secondary offering of 5.3 million shares at $28.76 per share. It also raised nearly another $58 million via private placements to Tesla CEO Elon Musk and existing shareholder Daimler. www.tesla.com

Xueda Education Group (NYSE: XUE), a Beijing-based tutoring company, has withdrawn registration for an $80 million secondary share offering, “in light of general market conditions.” Company shareholders include Warburg Pincus and CDH Venture Partners. The company went public last November. www.xueda.com

THURSDAY, JUNE 2

Graphite Capital has sold Kurt Geiger, a European luxury shoe retailer, to Jones Group Inc. (NYSE: JNY) for approximately $350 million (including assumed debt). www.graphitecapital.com

Komli Media, a Mumbai-based digital media network, has acquired Aktiv Digital, an online media branding and lead generation company focused on the Asia market. No financial terms were disclosed. Komli has raised venture capital from Norwest Venture Partners, Nexus Venture Partners and Helion Venture Partners.

Deutsche Telekom is in talks to acquire another 10% stake in Greek telecom operator OTE from the Greek government for more than €400 million. It already owns a 30% position.

Massey Energy (NYSE: MEE) shareholders have approved a $7 billion buyout offer from Alpha Natural Resources (NYSE: ANR). www.masseyenergyco.com

Polycom Inc. (Nasdaq: PLCM) has agreed to acquire the assets of HP’s visual collaboration business for just under $90 million. www.polycom.com

WEDNESDAY, JUNE 1

Rovio, developer of Angry Birds, has acquired Finnish animation studio Kombo for an undisclosed amount. Rovio recently raised $42 million from Accel Partners and Atomico Ventures. www.rovio.com

Tippr, a Seattle-based provider of group buying solutions, has acquired social buying website DealPop from WhitePages.com. No financial terms were disclosed. Tippr is backed by RRE Ventures. www.tippr.com

Schneider Electric has agreed to acquire Telvent (Nasdaq: TLVT), a Spanish provider of real-time infrastructure management software and solutions for the electricity, oil & gas, water and transportation markets. The deal is valued at approximately $2 billion, or $40 per share. The move comes just two days after Schneider agreed to acquire a 74% stake in Indian energy storage systems maker Luminous Power Technologies for around €215 million. www.schneider-electric.com

CVC Capital Partners is in talks to sell Belgian chemicals company Taminco to listed German chemicals company Lanxess for around €1 billion, according to Financial Times Deutschland.

Stirling Square Capital Partners has agreed to sell its majority stake in Metroweb SpA, an Italian fiber-optic network operator, to Intesa Panpaolo SpA and F2i SpA at an enterprise value of approximately €436 million.

Sealed Air Corp. (NYSE: SEE) has agreed to acquire Diversey Holdings Inc., a provider of solutions to the global cleaning and sanitization market, from Clayton, Dubilier & Rice and the founding Johnson family. The deal is valued at $4.3 billion, including $2.1 billion in cash and 31.7 million common shares of Sealed Air stock (approx. 15% of outstanding common stock).

TUESDAY, MAY 31

Demag Cranes of Germany has rejected an €884 million in cash, or €41.75 per share, buyout offer from Terex (NYSE: TEX), calling it “inadequate from a financial point of view. www.terex.com

Fortis Inc. (TSX: FTS), a Canadian power company, has agreed to acquire Central Vermont Public Service (NYSE: CV) for $470.3 million in cash, or $35.10 per share (44% premium to Friday’s closing price). Fortis also will assume around $230 million in CV debt. www.fortisinc.com

Lloyds Banking Group is looking to sell German life insurance unit Heidelberger Leben, according to Reuters. The deal could generate upwards of €1 billion.