Google has announced that Chinese authorities had approved its $12.5 billion purchase of Motorola Mobility Holdings, which means that now nothing can stop the tech giant from starting to develop its own line of smart phones.
mergers & acquisitions
After a long research and investigation, Procter & Gamble has announced it sells its Pringles brand to Kellogg for $2.7 billion in cash. The deal is expected to be completed in summer 2012. Last year P&G intended to sell the chips brand to Diamond Foods but the agreement has been mutually terminated.
Schawk, Inc. has closed its previously announced acquisition of substantially all of the assets of Lipson Associates, Inc. and Laga, Inc., which does business as Brandimage—Desgrippes & Laga, or “Brandimage,” for a cash purchase price of $25 million, subject to certain closing and post-closing adjustments, and the assumption of certain trade account and business related liabilities. Schawk funded the purchase price through a draw from its existing credit facility.