Midweek M&A Madness

As the weather (slowly) warms up, plenty of M&A bankers are hoping the market for deals will as well. We’ve noticed a few more targets coming to market in recent weeks and have compiled a list of some of those we’ve come across. Our sources are various news reports and the Buyouts “Seeking Buyers” list.

The following companies (among many, many others) are either formally considering “strategic alternatives,” reported to be on the block, or rumored to be in sale talks in the past week.  I can’t be comprehensive, but I can try. For prior lists, go here, or here, and send any additions my way.

Norwood Promotional Products is bankrupt and seeking a buyer. Aurora Resurgence was named as a potential bidder.

Noble International is bankrupt and seeking a buy via auction. Patriarch Partners was named as a potential bidder.

Neurogen Corp. is seeking a buyer. The company develops small-molecule drugs.

Kadoink Inc., a messaging communication business is seeking a buyer. Dynamic Resources Corp., an oil and gas exploration company, is seeking a buyer with Clayton Capital Partners as its advisor.

DMG World Media is seeking a buyer for its gift shows in San Francisco, Seattle, and Canada.

Goodyear plans to explore the sale of its farm tire businesses in Latin America and Europe/MiddleEast/Africa.

Playboy is reportedly seeking a buyer for itself.

The National Basketball Association’s Charlotte Bobcats have hired Galatioto Sports Partners LLC to explore a sale of the team, according to the Deal.

Particle Drilling Technologies has retained Parks Paton Hoepfl & Brown, LLP to serve as the Special Committee’s financial advisor to help it evaluation strategic alternatives.

Flying J has retained Deutsche Bank to advise it in reviewing “strategic alternatives” for Bakersfield Refinery, a part of its Big Oil LLC subsidiary.

White Electronic Designs Corp. has retained Jefferies Quarterdeck as its advisor for a strategic alternatives review.

Action Energy Inc. announced that its Board of Directors has appointed a special committee evaluate strategic alternatives. The company retained National Bank Financial Inc. to act as its financial advisor in the review process.

Pyramid Petroleum has retained Byron Capital Markets to consult it on the process of reviewing strategic alternatives.

Pegasus Oil & Gas, based in Calgary, said it is reviewing strategic alternatives.

Metabasis Therapeutics is on the verge of shutting down after laying off 85% of its staff. It seeks a buyer.

AutoCanada Income Fund hired Raymond James to explore strategic alternatives after the temporary suspension of financing by lender Chrysler Financial Canada.

Normabec Mining Resources Limited hired Haywood Securities to advise it in a strategic review. One option includes a spin-out or joint venture of the Company’s Pitt Gold and/or Real de Catorce Silver Projects.

Roberto Cavalli is considering selling a stake in his fashion house.