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According to new data, this is the most active year for mergers-and-acquisition transactions since 2007.

Big year for M&A among Minnesota companies

Bruce Engler, the head of the mergers-and-acquisition practice at the Faegre Baker Daniels law firm, was quoted in a Star Tribune story yesterday on the busy year for deal making among Minnesota companies.

According to the data, this is the most active year for transactions since 2007. Through Friday, Minnesota companies made 332 deals, already 11 percent above last year’s total.

Among the highlights:

• 3M Co. bought Sunmitomo Electric Industries of Japan for $885 million.

• General Mills acquired Annie’s for $810 million

• Hormel Foods acquired the California producer of Muscle Milk in a $450 million transaction.

• Cargill acquired Archer Daniels Midland Co. for $440 million in cash

Engler noted that a lot of the activity is concentrated in food and technology companies.

“The improving economy still isn’t generating the organic growth that many companies need, so those companies continue to resort to M&A for additional near-term earnings growth,” he said. “Even though the deal volume is not yet back to peak levels, the valuations for sellers are getting there.”

 

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