Bid & Ask
Bid & Ask: The Deals of the Week
1. Precision Castparts (PCP), a maker of metal components for jet engines, is buying Texas billionaire Harold Simmons’s Titanium Metals for $2.9 billion.
3. U.S. paint retailer Sherwin-Williams (SHW) will purchase closely held Consorcio Comex for about $2.3 billion, including debt, to gain Mexico’s No. 1 paintmaker as housing demand improves.
4. British soft drink makers Britvic (BVIC:LN) and A.G. Barr (BAG:LN) agreed to an all-share merger to create one of Europe’s leading beverage companies, with a combined market value of almost $2.3 billion.
5. Diageo (DEO), the maker of Johnnie Walker Scotch, is buying a 53.4 percent stake in India’s United Spirits for $2 billion to gain leadership in the world’s largest whiskey market.
6. Blackstone Group (BX) started a partnership with LLOG Exploration to invest more than $1.2 billion in offshore oil operations in the Gulf of Mexico.
7. Leon’s Furniture (LNF:CN), a Toronto retailer founded in 1909, will pay $700 million for Canadian retailer The Brick. Leon’s says the deal will give it purchasing power to lower prices and better compete with chains such as Target (TGT).
8. To broaden its offerings, Starbucks (SBUX) will pay $620 million for loose-leaf tea company Teavana Holdings. In the past 13 months, Starbucks also bought Evolution Fresh to expand in juice and Bay Bread Group to add pastries.
10. The 1951 drip painting Number 4 by Jackson Pollock sold for $40.4 million at Sotheby’s (BID), setting an auction record for the abstract expressionist artist.