Graff bought some 2.8 million shares in Gem and confirmed that he did not intend to make a formal offer for the company.
Other Done Deals
- International company Thermo Fisher Scientific has acquired Raymond A. Lamb, a manufacturer of histology and anatomical pathology products in Eastbourne. Thermo offers analytical instruments and laboratory equipment, software, chemicals, supplies and services
- Japanese advertising group Dentsu is acquiring New York and Chicago agency McGarry Bowen for an undisclosed sum. Dentsu’s overseas interests include London ad agency CDP and design agency Attik
- Statkraft, a European developer and generator of hydropower, wind power, gas power, solar power and district heating, has decided to purchase all the remaining shares in Catamount Cymru Cyf, which owns the rights to build and operate Blaengwen wind farm in Wales
- Transport company AP Moller-Maersk has acquired Danish seaborne transport company Swift Tankers Pool for undisclosed terms
- US computer services and software group International Business Machines has bought French software company Ilog for an undisclosed sum.
Deals in the pipeline
- Travelzest, which has made a string of acquisitions in the past few years, has said that its own takeover talks have ended after its potential suitor said it was no longer interested in proceeding due to the uncertain financial markets.
- Bosch Rexroth, a subsidiary of German auto parts maker Robert Bosch, is to buy Swedish hydraulic drive systems maker Hagglunds Drives. The financial details were undisclosed.
- West Country accounting and financial advisory practice Old Mill is to merge with Wiltshire-based accountancy practice L E Bull and Co. The terms of the deal were undisclosed.
- Dublin-based Internet gaming software business CryptoLogic has entered into a strategic agreement with Sweden’s Boss Media, a subsidiary of GTECH, a gaming technology and services company. CryptoLogic will merge its major poker customers with Boss Media’s International Poker Network within the first quarter 2009.
- Network Data has made a deal with Manchester Building Society to buy Mortgage Broking Services for an initial £2.215 million, satisfied by the issue of redeemable convertible preference shares.