Photo: Wikimedia Commons
It’s Monday, and there are a decent number of notable deals out there today.
- The big ones: VF Corp — the big maker of jeans and other clothes — is buying boots maker Timberland, for about $2 billion net of cash. The $43/share takeout price represents premium of over 42% to Friday’s closing price. Good for them.
- Wendy’s is selling its Arby’s unit to PE firm Roark Capital for $130 million. Between the assumption of debt, however, and the tax benefit, the deal will create $430 million of value for Wendy’s shareholders.
- Separately, Roark Capital is buying a sandwich company.
- defence company Honeywell is acquiring mobile networking company EMS Technology for $491 million.
- Gerber scientific is selling to Vector Capital for $11/share.
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