U.S. firms offers $150-million for Kaufel Group

Article Abstract:

Thomas & Betts Corp., an electrical parts company based in Memphis, TN, is bidding C$150 million to purchase Montreal, Quebec-based Kaufel Group Ltd., the largest emergency lighting manufacturer in North America. The offer represents the increased acquisition activity of US firms in Canada at a time of slump in the Canadian dollar. Thomas & Betts, which had a profit of $155 million on sales of $2.1 billion 1997, would assume the C$92 million debt of Kaufel. The Canadian company controls around 80% of the industry and in fiscal 1997, it had total sales of C$230 million.

Comment:

Is bidding C$150 mil to purchase Kaufel Group Ltd, the largest emergency lighting manufacturer in North America, Canada

Electronic Connector Manufacturing, Lighting Equip NEC, Other Lighting Equipment Manufacturing, Electronic Connectors, Thomas and Betts Corp., Lighting, Kaufel Group Ltd.

Magna buying California race track

Article Abstract:

Magna International Inc. of Aurora, Ontario, will acquire the Santa Anita Race Track in Arcadia, CA, from Needham Heights, MA-based Meditrust Cos. for $126 million. Magna, Canada's biggest manufacturer of motor vehicle parts, will make the purchase through MI Developments, the company's real estate division that is expected to be spun off into an independent firm. Magna, whose leadership has received a number of criticisms from both analysts and investors due to its present business direction, expects the deal to become final in December 1998.

Comment:

Will acquire the Santa Anita Race Track in Arcadia, CA, from Needham Heights, MA-based Meditrust Cos for $126 mil

Diversified Companies, Facilities & equipment, Racetracks, Thoroughbred Racing, Magna International Inc., Horse racing, Meditrust Cos.

Assante buying another U.S. adviser

Article Abstract:

Assante Corp, a financial services holding firm based in Winnipeg, Canada, has agreed to acquire Savitsky and Co, a US company that advises executives and film stars in the entertainment industry, for an undisclosed amount. The acquisition, which will be completed in the 2nd qtr of 1999, is the 3rd purchase for Assante's sports and entertainment financial adviser division. On May 5, 1999, Assante filed a preliminary prospectus for an IPO.

Investment Companies, Open-End Investment Funds, Financial Holding Companies, Offices of Bank Holding Companies, Assante Corp., Savitsky and Co.