M&A

August 8, 2011, 5:08 PM UTC
Fortune

AT&T has hired BoA Merrill Lynch to advise on asset sales that may be needed to gain regulatory approval for its $39 billion purchase of T-Mobile USA, according to the WSJ. The deals could be worth more than $8 billion, with wireless spectrum among the assets likely up for bid. www.att.com

GMR Energy Ltd., a unit of India’s GMR Group, has agreed to acquire a 30% stake in Indonesia-based PT Golden Energy Mines for between $450 million and $550 million in cash.

Michael Kors, a high-end fashion label, has sold a minority ownership position at a $2.5 billion valuation, according to the New York Post. Investors included several unidentified sovereign wealth funds and fashion designer Tommy Hilfiger. The paper previously reported that Kors had hired Morgan Stanley to help it raise upwards of $500 million.

eBay Inc. (Nasdaq: EBAY) has completed its previously-announced acquisition of Zong, a Menlo Park, Calif.-based provider of payments through mobile carrier billing. The deal was valued at $240 million in cash. Zong had raised $27.5 million in VC funding since being spun out of EchoVox Corp. early last year, from Matrix Partners, Advent Venture Partners and Newbury Ventures. www.zong.com

THURSDAY, AUGUST 11  

HTC has agreed to acquire a 51% stake in Beats Electronics, a maker of high-end headphones and speakers that was founded in 2006 by rapper Dr. Dre and music producer Jimmy Iovine. The deal is valued at $309 million. www.htc.com

General Motors is not planning to sell European car brand Opel, according to a German media interview with GM co-CEO Dan Akerson. Reports over the summer had suggested that Opel could be sold to rival European or Chinese automakers. www.gm.com

International Finance Corp. reportedly has sold its 7% stake in Bank of Shanghai to China Investment Corp. In related news, HSBC reportedly is seeking to sell its own 8% stake in the Shanghai-based lender.

Citrix Systems (Nasdaq: CTXS) has acquired RingCube, a Mountain View, Calif.–based provider of user personalization technology for virtual desktops. No financial terms were disclosed. RingCube had raised around $26 million in VC funding from firms like New Enterprise Associates and Mohr Davidow Ventures. www.citrix.com

WEDNESDAY, AUGUST 10

Capital One Financial Corp. has agreed to buy the U.S. credit card business of HSBC for $2.6 billion in cash and stock.

Checkpoint Systems Inc. (NYSE: CKP), a provider of security solutions for retailers, is under pressure to seek a sale from hedge fund Millbrook Capital Management Co., which currently holds a 4.9% ownership stake in Checkpoint. Checkpoint closed trading yesterday up 10%, for a market cap of approximately $576 million. www.checkpointsystems.com

Covalent Materials, a Japanese portfolio company of The Carlyle Group and Unison Capital, has agreed to sell its wafer unit to Sino-American Sillicon Products Inc. for $451 million.

Pacific Equity Partners and Unitas Capital are in late-stage talks to sell New Zealand-based beverages group Independent Liquor to Asahi Group Holdings of Japan, according to Reuters. The deal could be valued at around $1.3 billion. www.independentliquor.co.nz

Platinum Equity has agreed to sell AEES, a Farmington Hills, Mich.-based manufacturer of wiring harnesses for heavy and medium duty trucks, to Helsinki-listed  PKC Group. The deal includes €109 million in cash and 1.25 million of PKC stock. www.pkcgroup.com

TUESDAY, AUGUST 9

Ralcorp Holdings Inc. (NYSE: RAH) has agreed to acquire the North American private-brand refrigerated dough business of Sara Lee Corp. (NYSE: SLE), for approximately $545 million. www.ralcorp.com

Carrefour is in talks to sell its Brazilian unit to Wal-Mart Stores, according to Valor Economico. If successful, the deal would make Wal-Mart the largest retailer in Brazil.

Inergy LP (NYSE: NRGY) said it plans to list a minority stake in its northeast U.S. midstream storage and transportation business by year-end. www.inergylp.com

Cornerstone OnDemand (Nasdaq: CSOD), a Santa Monica, Calif.-based provider of talent management software and services, has canceled a proposed secondary public offering of nearly 9.78 million common shares. The company closed trading yesterday at $14.63 per share. Company shareholders include Bessemer Venture Partners, Meritech Capital Partners and Bay Partners.www.cornerstoneondemand.com

MONDAY, AUGUST 8

Rio Tinto and Mitsubishi Corp. announced a joint bid for all the shares in Australian mining company Coal & Allied that they don’t already own for approximately US$1.6 billion.

Evolution (LSE: EVG) has agreed to acquire BNP Paribas Private Investment Management, which has around $2.95 billion in assets under management.

RPC Inc. (NYSE: RES), an oilfield services provider, has hired Goldman Sachs to explore a possible sale of the company, according to Bloomberg. The company had a market cap on Friday of around $2.9 billion.

ANSYS Inc. (Nasdaq: ANSS) completed its previously-announced acquisition of Apache Design Systems, a Mountain View, Calif.-based provider of power and noise integrity solutions for chip-package-systems convergence. The deal was valued at approximately $310 million in cash, including $29 of cash on Apache’s balance sheet. Apache shareholders had included Intel Capital and PacRim Capital Management, and the company has withdrawn prior registration for a $75 million IPO. www.apache-da.com

Intergraph Corp., a subsidiary of Hexagon AB, has acquired Augusta Systems Inc., a Morgantown, W.V.-based provider of middlewear for converged security camera and sensor system monitoring, control and automation solutions. No financial terms were disclosed. Augusta backers included PrairieGold Venture Partners. www.intergraph.com