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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

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'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

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Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
July 1, 2013, 2:48 PM ET

Oak Hill Partners has agreed to sell Local TV LLC, a Newport, Ky.-based owner and operator of 19 television stations, to Tribune Co. for $2.725 billion in cash. Prior reports had suggested that the station portfolio would be broken up, but this deal is for all 19 stations. Oak Hill mostly created Local TV via two transactions: The purchase of nine stations from the NY Times Co. for $575 million in May 2007, and the acquisition of eight stations from News Corp. for $1.1 billion in July 2008. www.localtvllc.com

Coca-Cola FEMSA (NYSE: KOF), a Mexican bottler of Coca-Cola, has agreed to acquire Brazilian peer Companhia Fluminense de Refrigerantes for approximately $448 million in cash. www.coca-colafemsa.com

Great Pacific Industries
, a subsidiary of Vancouver’s The Jim Pattison Group, has offered to acquire Canadian juice and snack-maker Sun-Rype Products (TSX: SRF) for approximately C$37 million, or C$7.50 per share (30% premium over Friday’s closing price). Great Pacific already holds around a 54% stake in Sun-Rype. www.jimpattison.com

Liberty Media
 (Nasdaq: LMCA) is considering a takeover offer for Time Warner Cable (NYSE: TWC), according to multiple media reports. Liberty currently holds a 27% stake in TWC, which has a market cap north of $37 billion. www.timewarnercable.com

Nokia Corp.
 has agreed to acquire Siemens AG’s 50% stake in the two companies’ joint venture,Nokia Siemens Networks, for €1.7 billion.  www.nokia.com

Onyx Pharmaceuticals Inc. (Nasdaq: ONXX), a South San Francisco-based cancer drug company, has retained Centerview Partners to advise on a possible sale of the company, after rejecting an unsolicited $10 billion buyout offer from Amgen Inc. (Nasdaq: AMGN). Onyx closed trading last Friday with a market cap just over $6.3 billion. www.onyx-pharm.com

Renova, the investment vehicle of Russian billionaire Viktor Vekselberg, has paid approximately $61 million for a 20.46% stake in Swiss steelmaker Schmolz+Bickenbach (SWX: STLN), in an attempt to gain control of the company. www.schmolz-bickenbach.com

CoreLogic (NYSE: CLGX) has agreed to acquire Marshall & Swift/Boeckh, provider of property valuation solutions to the property and casualty insurance industry, from Decision Insight Information Group, a Milwaukee-based portfolio company of TPG Capital. Also included in the deal will be DataQuick Information Systems, a property data and analytics information company, and the credit and flood services operations of DataQuick Lender Solutions. The entire transaction is valued at $661 million. www.corelogic.com

Ardmore Shipping Co., a provider of seaborne transportation of petroleum products and chemicals, has filed for a $160 million IPO. It plans to trade on the NYSE under ticker symbol ASC, with Morgan Stanley serving as lead underwriter. The company is owned by Greenbriar Equity Group. www.ardmoreshipping.com

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