Bid & Ask

Compiled by Caroline Winter


Precision Castparts, a maker of metal components for jet engines, is buying Texas billionaire Harold Simmons’s Titanium Metals for $2.9 billion.

• New York investment bank Jefferies Group agreed to be acquired by its biggest shareholder, Leucadia National, for $2.8 billion. Jefferies management will run the combined company.

• U.S. paint retailer Sherwin-Williams will purchase closely held Consorcio Comex for about $2.3 billion, including debt, to gain Mexico’s No. 1 paintmaker as housing demand improves.

• British soft drink makers Britvic and A.G. Barr 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.

Diageo, 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.

Blackstone Group started a partnership with LLOG Exploration to invest more than $1.2 billion in offshore oil operations in the Gulf of Mexico.

Leon’s Furniture, 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.

• To broaden its offerings, Starbucks 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.

• Harry Winston Diamond Mines is purchasing BHP Billiton’s Ekati mine in Canada and its marketing operations for $500 million.

• The 1951 drip painting Number 4 by Jackson Pollock sold for $40.4 million at Sotheby’s, setting an auction record for the abstract expressionist artist.


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