Bid & Ask: The Deals of the Week
1. In its largest short-term debt offering, Texas issued $9.8 billion of notes to fund public schools, which are projected to serve 80,000 more students this year than last.
2. The board of Lowe’s approved a plan to buy back $5 billion of stock over the next two to three years. On Aug. 15 the company lowered profit projections for fiscal 2011 because of declining sales.
3. Nordic utility Vattenfall agreed to sell its Polish power unit to Tauron Polska Energia and its Polish heating unit PGNiG, for a total of $2.7 billion.
4. Sigdo Koppers, a Chilean holding company, will buy Belgium’s Magotteaux for $790 million to expand its services to the mining industry. The purchase includes 12 production plants in 10 countries.
5. Omnicare, which distributes drugs to elder-care facilities, offered $716 million for rival PharMerica, a move that would boost its market share to 60 percent.
6. Electrolux will acquire Compañía Tecno Industrial in a deal valued at about $690 million to become the largest supplier of appliances in Chile and Argentina.
7. H&R Block agreed to sell its RSM McGladrey consulting unit to accounting firm McGladrey & Pullen for $610 million. H&R Block wants to focus on its core tax-preparation business.
8. Arrow Energy, owned by Royal Dutch Shell and PetroChina, offered $540 million for Bow Energy toboost its liquefied natural gas reserves in Australia.
9. Blackstone Group’s Catalent Pharma Solutions agreed to buy the clinical trial supplies business from Aptuit for $410 million in cash.
10. MetLife bought the naming rights for the new stadium where the National Football League’s New York Giants and Jets play. The 25-year deal cost about $400 million, according to a person familiar with the contract.