3M Invests in Energy Inc.
3M, through its 3M New Ventures business, has acquired an interest in Energy Inc., headquartered in Charleston, S.C. Terms of the transaction were not disclosed.
Energy Inc. product, The Energy Detective, also known as TED, allows real-time residential energy data to be viewed remotely via the Internet. This strategic shareholding will drive innovative business concepts with high commercialization potential for 3M and enables 3M to offer complementary products for energy consumption management as an innovative total package. Synergies are expected through the conception of new technological developments and joint sales activities.
We are investing in Energy Inc. for its high speed of innovation and entrepreneurial approach to serving customers in this fast-growing energy monitoring market,” said Stefan Gabriel, president, 3M New Ventures. [Read the full article]
The Shuman Law Firm today announced that it is investigating potential breaches of fiduciary duty and other violations of state law on behalf of shareholders of of BioForm Medical, Inc. (BioForm Medical� or the Company) (Nasdaq: BFRM – News) related to the Companys merger agreement with Merz Pharma Group (“Merz”), a privately held company based in Frankfurt, Germany.
The cash transaction is valued at approximately $253 million, based on the Companys outstanding shares of common stock.
Under the terms of a definitive agreement entered into by the parties, Merz will acquire all of the outstanding shares of BioForm Medical for $5.45 per share in cash pursuant to a cash tender offer followed by a second-step merger. Following completion of the transaction, BioForm Medical will become a wholly-owned subsidiary of Merz and will be renamed Merz Aesthetics. [Read the full article]
Roper Industries, Inc. (NYSE: ROP) announced today that its Senior Subordinated Convertible Notes due 2034 (CUSIP No. 776696AA4) (the “Notes”) will accrue contingent interest for the period of January 16, 2010 to July 15, 2010 at an annual rate of 0.25% of the average market price of the Notes for the five trading days ended July 13, 2010. Contingent cash interest, which the Company has determined to be approximately $0.81 per Note, will be payable to holders of the Notes as of the record date of June 30, 2010, with such payment expected to be made on July 15, 2010. Contingent interest will not be payable with respect to any Note converted prior to the July 15, 2010 interest payment date.
Roper Industries is a market-driven, diversified growth company and is a constituent of the Fortune 1000, the Russell 1000 and the S&P 500 indices. [Read the full article]