BOSTON, June 1, Vivendi Universal (Paris Bourse: EXFP; NYSE:V),
announced that it reached an agreement to acquire all of the
outstanding shares of Houghton Mifflin Company (NYSE:HTN)
through a cash tender offer of $60 per share for all of HTN's
common stock. As a result of the acquisition, Vivendi will
become the No. 2 publisher in the education field. The estimated
offer price of approximately $2.2 billion includes the assumption
of Houghton Mifflin's average net debt of $500 million.
BOSTON,
June 4, FleetBoston Financial Corp. (NYSE:FBF) announced
it has signed a definitive agreement to acquire the asset
management businesses of Boston-based Liberty Financial
Companies, Inc. (NYSE:L) for $900 million in cash. Approximately
65% of Liberty's assets under management are in mutual funds,
with the remainder invested for institutional clients. The
transaction will add $51 billion in assets under management
to FleetBoston's existing investment business, to bring
the company's total investment assets under management to
approximately $173 billion. As a result of the merger, FleetBoston
will rank as the world's 29th largest investment manager,
up from 42nd place.
CANTON,
June 4, Sound Advice, Inc. (Nasdaq:SUND) and Tweeter
Home Entertainment Group, Inc. (Nasdaq:TWTR) announced
that they have signed a definitive merger agreement. The
companies expect to complete the transaction on or about
September 1, 2001. The merger is structured as a tax-free
exchange for stock and will be accounted for by Tweeter
as a purchase. Under the terms of the agreement, each share
of Sound Advice common stock will be converted into Tweeter
common stock. Sound Advice, a specialty retailer of entertainment
and consumer electronic products, is headquartered in Dania
Beach, Florida.
CHARLTON,
June 6, FiberCore, Inc. (Nasdaq:FBCE), a manufacturer
of optical fiber and preform for the telecommunication and
data communications markets, announced the acquisition of
Data Communications Inc. (DCI), a privately held
company located in Hyannis, MA. DCI designs, installs and
maintains low cost fiber optic networks primarily in the
northeast for local area network applications. The purchase
price of DCI was $1.1 million and consisted, almost exclusively,
of the issuance of 250,000 shares of FiberCore common stock.
The acquisition is expected to add $2.5 million to FiberCore's
revenues in 2001.
ANDOVER,
June 8, ChoicePoint Inc. (NYSE:CPS), a provider of credential
verification and identification services, has entered into
an agreement to acquire Marketing Information & Technology
Inc. (MITI), a provider of large-scale direct marketing
systems for FORTUNE 500 clients. Financial details of the
transaction were not disclosed.
BEDFORD,
June 11, RSA Security Inc. (Nasdaq:RSAS), a provider
of authentication solutions, has acquired 3-G International,
a privately held company that develops and delivers smart
card and biometric authentication products. Total consideration
for the acquisition net of cash is approximately $12 million.
FRAMINGHAM & ANDOVER, June 11, Banknorth Group, Inc.
(Nasdaq:BKNG), announced that it has signed separate definitive
agreements to acquire both Andover Bancorp (Nasdaq:ANDB)
for approximately $333 million in stock, and MetroWest
Bank (Nasdaq:MWBX) for approximately $166 million in
cash. The acquisitions will increase the company's total
assets from just over $18 billion to approximately $21 billion.
The two banks will be merged into Banknorth's existing Massachusetts
bank, First Massachusetts Bank, resulting in a subsidiary
bank with 114 branches, $5.5 billion is deposits and nearly
$9 billion in assets.
MELROSE & LAWRENCE, June 12, Microsemi Corp. (Nasdaq:MSCC)
of Irvine CA announced that it has entered into an agreement
to acquire Compensated Devices Inc. (CDI), of Melrose,
MA and New England Semiconductor Corp. (NES), of
Lawrence, MA. Founded in 1974, CDI's customer base includes:
Lockheed/Martin, Litton, Raytheon and Honeywell. CDI's sales
for the calendar year 2000 were $10.9 million. Founded in
1985, NES is a manufacturer of aerospace-grade high-reliability
bipolar transistors. NES had sales in calendar year 2000
of $9 million. Microsemi will pay $11.5 million and $9.1
million for CDI and NES respectively in a combination of
cash and one-year notes that are payable in cash and/or
shares of common stock, at Microsemi's option.
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