Mergers & Acquisitions

The adidas Group and Adams Golf today announced that the TaylorMade-adidas Golf business segment has entered into a definitive agreement to acquire all of the outstanding shares of Adams Golf for $10.80 per share in cash. The transaction value is approximately $70 million, which represents a premium of approximately 71 percent to the share price prior to Adams Golf's announcement that it was examining strategic alternatives on January 4, 2012.

Swiss watchmaker Swatch Group and U.S. luxury goods producer Tiffany & Co. are claiming damages from one another in the wake of a failed alliance. The two companies formed an alliance in late 2007 to spur the development, production and global distribution of Tiffany brand watches. The alliance, which included setting up Tiffany Watch Co, ended last September. This was due to a breach of contract by Tiffany, Swatch said, adding that the damages sought include a claim for lost profits. Following the breakup, Tiffany Watch Co. will wind down its business over two years.

The merger between two Midwest-based general merchandise retail chains, Shopko and Pamida, is now complete, creating one of the largest U.S. retailers focused on serving smaller, rural communities.

eBay has agreed to buy WHI Solutions, which provides software and digital catalog solutions for auto parts distributors and retailers. Financial terms weren’t announced. 

Tractor Supply Company, the largest retail farm and ranch store chain in the U.S., announced that effective Feb. 15, Gregory A. Sandfort assumed the title of chief operating officer in addition to his role as president.

Australian swimwear and surfing goods maker Billabong rejected a $766 million takeover proposal from TPG Capital and countered by announcing the sale of part of its youth brand Nixon, among other moves to cut debt and boost its performance. 

Perry Ellis International announced that it's completed the purchase of the intellectual property rights of the Ben Hogan family of brands from Callaway Golf Co. Perry Ellis will also assume all license arrangements, including South Korea and Japan, for apparel and accessories under the Ben Hogan brand name.

BioScrip said it will sell certain assets of its community specialty pharmacies and centralized specialty and mail service pharmacy businesses to Walgreens for about $225 million.

Home Depot has acquired home services marketplace Redbeacon in a move set to tighten the retailer's customer relationships while opening up new markets. The deal's financial terms have yet to be disclosed.

Steve Madden inked a deal to acquire all the assets of SM Canada, which include Steve Madden Canada, Steve Madden Retail Canada, Pasa Agency and Gelati Imports. The purchase price is $29 million, subject to a working capital adjustment, plus certain earn-out provisions based on financial performance through March 31, 2017.