Praxair Inc. (NYSE:PX) acquires NuCo2 Inc. from PE firm Aurora Capital Group for $1.1 billion in cash. NuCo2 provides micro-bulk beverage carbonation solutions to customers such as service restaurants and convenience stores selling fountain beverages. Having 900 employees and customers at 162,000 locations, NuCo2 is expected to generate EBITDA of about $115 million on revenues of $250 million in 2013. “NuCO2 offers a compelling value proposition for beverage carbonation,” Praxair Executive Vice President Eduardo Menezes said. “We plan to continue to grow the business in the United States, enhance distribution efficiency utilizing Praxair’s competencies in logistics, and extend NuCO2’s offerings to customers in other regions of the world.”
MasterCard Incorporated (NYSE:MA) doubles its quarterly cash dividend from $0.30 per share to $0.60 per share. The board of directors also approved a $2 billion repurchase program of its class A common stock that would take effect once the $440 million balance in the existing program is completed. “Our strong financial performance allows us to increase the return of cash to shareholders through our dividend and share repurchase programs. We remain focused on executing our strategy and growing our business for the future,” said Ajay Banga, MasterCard president and CEO.
General Motors (NYSE:GM) and its affiliates in China sold 310,765 vehicles in January, higher by 26% compared to the year ago period. SAIC Motor Corp sold 154,220 units (+24.3%), FAW Group 4490 units (+84.5%) and SAIC-GM-Wuling Automobile Co sold 151,819 vehicles (+26.6%).
Dell Inc (NASDAQ:DELL) announces that it will be acquired by Michael Dell, its founder, chairman, and chief executive officer, in partnership with investment firm Silver Lake in a $24.4 billion transaction that will pay the company’s stockholders $13.65 per share in cash. The Dell Board of Directors relied on a recommendation by a special committee of independent directors and unanimously approved the merger agreement that would ultimately take the company private. Michael Dell, post the transaction, will continue as chairman and chief executive officer, as well as be a significant stockholder as he contributes his holdings to the new company in addition to making a further cash investment.