As several analyst defined yesterday as a “slow day” on the market, it also was an dynamic day considering numerous company acquisitions. After the initiative was taken by Yahoo Inc. with the $1.1 billion purchase of Tumblr Inc., many other companies follow their example. The internet giant is going after the younger users as buying the blogging site. They were also interested in Tumblrs mobile platform.
Actavis, the drug company experience a share price raise after declaring interest in buying Dublin based Warner Chilcott. The pharmaceutical companys intention to expand their interest in womens healthcare and dermatology seems to be the main reason for the purchase. The deal is believed to be worth around $8.5 billion including debt.
The headline of the day was that Warren Buffets investment firm Berkshire Hathaway along with 3G Capital have appetite for buying Ketchup giant Heinz for $28 billion. Both sides agreed to the deal which would be food industry largest ever acquisition.
The UK auto retailing company Vertu Motors is acquiring Albert Farnell – another car retailer in order to expand its business for a price of $47 million.
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