According to a survey done by Mergers and Acquisitions, the number of manufacturing deals will continue to increase, but expectations aren't as high as they were earlier this year. Among the high-growth industries measured, manufacturing dropped from second to third place, behind health care, and technology, media and telecom. The Mergers & Acquisitions' mid-market pulse, a forward-looking sentiment indicator, fell from more than 80 earlier in the year to 77.3.
Eagle Materials is moving deeper into the energy sector with its latest acquisition. The company is buying CRS Proppants for $225 million. CRS sells a sand that is a key ingredient used in hydraulic fracking. Eagle Materials says the purchase will roughly double its production of frack sand.
Shares of Penford soared last week on news that the food ingredient maker has received a $340 million takeover offer from rival Ingredion. The acquisition would help Ingredion expand its specialty ingredient portfolio. The deal works out to $19 a share in cash.
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