Bid & Ask: The Deals of the Week
1. M&T Bank Corp agreed to pay $3.8 billion for Hudson City Bancorp, the biggest U.S. bank to refuse a bailout. M&T will gain 135 branches in the largest bank takeover of the year.
2. Japanese air conditioning company Daikin Industries paid $3.7 billion for Goodman Global to expand its home heating, ventilation, and cooling business in the U.S.
3. Rental car giant Hertz acquired Dollar Thrifty for $2.6 billion in cash, capping a five-year pursuit by bidding more than double what it offered in 2010.
4. In a consolidation driven by harsh competition in the Southeast Asian metals market, Furukawa-Sky Aluminum agreed to take over Sumitomo Light Metal Industries for $2.5 billion.
5. Toyota Tsusho, the trading arm of Japan’s largest carmaker, purchased French auto- and drug-distributor CFAO for $2 billion in the hopes of expanding its business in Africa.
6. IBM agreed to buy human resources software firm Kenexa for $1.3 billion, continuing Big Blue’s $16 billion, five-year analytics buying spree.
7. Private equity firm Clayton Dubilier & Rice paid $1 billion for low-end wedding retailer David’s Bridal, purchasing the chain from another private equity firm.
8. Thailand’s largest company, PTT, paid $957 million for coal miner Sakari Resources. Sakari’s pair of Indonesian coal mines is expected to help meet growing Thai energy demand.
9. Samsung Electronics bought a $631 million equity stake in ASML Holding, Europe’s largest chip-fabrication equipment maker. The deal includes a co-investment program meant to speed development of new, smaller chips.
10. KO Godfather G31, an Angus bull, fetched $110,000 in a stud auction. The price set an Australian record for the breed.