Two biggest shareholders make offer for Meridian

Article Abstract:

Teksid SpA and Norsk Hydro Produkjon AS, which hold 30% and 26% respectively of Meridian Technologies Inc., are offering to buy out minority shareholders for $11 a share in a deal that values Meridian at C$384 million. The two companies want to make Meridian a private company. Under the plan, Teksid, which is a subsidiary of Fiat SpA of Italy, would own 51% of Meridian. Meanwhile, Norsk, a unit of Norsk Hydro ASA of Norway, would own 49% of the company. According to Keith Jones, vice president of strategy and business development for Norsk Hydro, the companies want to run Meridian to achieve long-term success.

Comment:

Is offering to buy out Meridian's minority shareholders for $11 a share in a deal that values Meridian at C$384 million

Italy, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Norway, Teksid S.p.A., Norsk Hydro Produksjon A/S

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Magna sells off part of Triam

Article Abstract:

Magna International Inc., an Aurora, Ontario-based auto parts supplier, has sold parts of Concord, Ontario-based Triam Automotive Inc. to Noble International Ltd. of Bloomfield Hills, MI, in a three-way deal. Noble will acquire Tiercon Holdings Inc., which signed a deal to purchase the Triam plastic injection moulding operation in Stoney Creek, Ontario. Tiercon will pay Magna an estimated C$46 million for the triam holdings. Triam's products include decorative trim, exterior plastic components and painted body side mouldings.

Comment:

Acquires Triam Automotive Inc's plastic injection moulding operation from Magna Intnl Inc for Noble Intnl Ltd for C$46 mil

Asset sales & divestitures, Ontario, Unsupported Plastics Profile Shape Manufacturing, Motor Vehicle Parts Whsle, Motor Vehicle Supplies and New Parts Wholesalers, Molded Plastic Products, Magna International Inc., Noble International Ltd., Automotive parts wholesalers, Molded plastics, Tiercon Holdings Inc.

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