M&A

June 13, 2011, 6:15 PM UTC

Energy Transfer Equity (NYSE: ETE) has agreed to acquire Southern Union Co. (NYSE: SUG) for $7.9 billion, including the assumption of $3.7 billion in Southern Union debt. The deal would create America’s largest natural gas pipeline company. www.energytransfer.com

Alibaba Group (HK: 1688) said that it would split e-commerce unit Taobao.com into three separate units, rather than floating it via an IPO. www.alibaba.com

DG FastChannel Inc. (Nasdaq: DGIT) has agreed to acquire digital advertising company MediaMind Technologies Inc. (Nasdaq: MDMD). The deal is valued at $418 million in cash, or $22 per MediaMind share (38% premium to yesterday’s closing price). www.mediamind.com

Itochu Corp. of Japan has agreed to acquire a 20% stake in a Columbian coal-mine operated by Alabama’s Drummand Co., for $1.5 billion.

YuMe, a Redwood City, Calif.-based provider of video advertising technology, has acquired Appealing Media, a British mobile video advertising company. No financial terms were disclosed. YuMe has raised over $50 million in VC funding from firms like DAG Ventures, Accel Partners, Intel Capital, BV Capital and Khosla Ventures. www.yume.com

 

 

KKR and Permira are looking to amend the terms of their loans on ProSiebenSat.1 Media AG, via a debt-for-equity swap that would reduce their combined holding from 53% to 35.1%, according to Bloomberg. www.kkr.com

Nuance Communications Inc. (Nasdaq: NUAN) has completed its $157 million acquisition of Equitrac Corp., a provider of print management and cost recovery software. No financial terms were disclosed. Sellers included Cornerstone Equity Partners and Brookside Mezzanine Partners. www.nuance.com

Nuance Communications Inc. (Nasdaq: NUAN) has acquired SVOX, a Swiss provider of voice solutions for in-car systems and consumer electronics. No financial terms were disclosed. SVOX had raised VC funding from Siemens Mobile Acceleration. www.nuance.com

WEDNESDAY, JUNE 15

Dish Network (Nasdaq: DISH) has offered to acquire the assets of bankrupt Terrestar Networks Inc. for $1.375 billion in cash.

Google has formed a $280 million fund to finance residential solar projects, in partnership withSolarCity, a Foster City, Calif.-based provider of solar energy system installation and design. The vehicle will extend solar leases and power purchase agreement options to customers who want solar panels installed on their homes, but do not wish to purchase the systems. SolarCity has raised over $130 million in VC funding, from Mayfield Fund, Draper Fisher Jurvetson, DBL Investors and Generation Capital. GroSolar had raised over $16 million from NGP Energy Technology Partners, SJF Ventures, Calvert Social Funds, and Allco Financial Group. www.solarcity.com

Sensata Technologies (NYSE: ST) has agreed to acquire Sensor-NITE Group Cos., a Belgian maker of exhaust sensors in diesel and gasoline engines, from Elex Group for €225 million.

TUESDAY, JUNE 14

Avis Budget Group has agreed to acquire Avis Europe for approximately $1 billion, or £3.15 per Avis Europe share. www.avis.com

Ericsson (Nasdaq: ERIC) has agreed to acquire Telcordia for $1.15 billion in cash from Providence Equity Partners and Warburg Pincus. The deal is expected to close in Q4. Telcordia is a Piscataway, N.J.-based developer of mobile, broadband and enterprise communications software and services.www.ericsson.com

Apax Partners is in talks to sell Prosodie, a European provider of outsourcing and payment services, to Capgemini (Paris: CAPP) for €382 million, according to Reuters. www.prosodie.com

Time Warner Cable Inc. (NYSE: TWC) has agreed to acquire cable systems serving approximately 70,000 basic video subscribers, 42,000 HSD subscribers and 26,000 phone subscribers in Kentucky and western Tennessee. The deal is valued at $260 million in cash. The seller is NewWave Communications, a portfolio company of Pamlico Capitalwww.twcmedia.com

VMWare Inc. (NYSE: VMW) has agreed to acquire Digital Fuel, a San Mateo, Calif.–based provider of IT financial and business management SaaS solutions. No financial terms were disclosed. Digital Fuel has raised more than $40 million in VC funding from firms like Benchmark Capital, Israel Seed Partners and Sigma Partners. www.vmware.com

MONDAY, JUNE 13

VF Corp. (NYSE: VFC) has agreed to acquire apparel maker The Timberland Co. (NYSE: TBL) for $2 billion (net of cash acquired). The $43 per share price represents a 40% premium to Friday’s closing price. www.vfc.com

Horizon Acquisition (LSE: HZNA), a UK investment vehicle of Punch Taverns co-founder Hugh Osmond, has agreed to acquire APR Energy for $855 million. APR is a Jacksonville, Fla.-based provider of temporary power plants. www.aprenergy.com

Transatlantic Holdings (NYSE: TRH) has agreed to a $3.2 billion merger with rival specialty insurer and reinsurer Allied World Assurance (NYSE: AWH). Transatlantic shareholders will receive 0.88 Allied shares per Transatlantic share, giving Transatlantic backers around 58% of the combined company.

Bain Capital has hired an investment bank to sell the micro-connections unit of French electronics company FCI, according to Reuters. The deal could be valued at upwards of $1 billion, with Blackstone Group, Carlyle Group, KKR and TPG Capital among possible suitors. www.baincapital.com

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