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Shopping spree continues

Prosthetic company Össur, generic drug maker Actavis and investment firm Baugur Group made acquisitions worth up to one billion US dollars yesterday.

According to a released statement, Össur acquired orthotic manufacturer Royce Medical Holding Inc, in a transaction valued at approximately 216 million USD. Ossur, founded in 1971 by Ossur Kristinsson, is a leading innovator in the prosthetic field with 600 employees worldwide.

Actavis completed the acquisition of US generics company Amide. According to a released statement Actavis paid US$500 million in cash for the company “with up to an additional US$100 million payable over two years subject to performance”. Founded in 1951, Actavis is generic pharmaceutical manufacturer with 7000 employees around the world.

Baugur purchased British fashion retailer Jane Norman, in a deal valued at £117.4 million. According to Baugur’s web site the “Baugur Group is an international investment company focusing on investments in the service, retail and real estate sectors in Iceland, UK, and Scandinavia. Baugur Group currently employs some 50,000 people in over 2,400 shops.

Baugur CEO, Jón Ásgeir Jóhannesson, who is facing charges of of fraud and embezzlement, had told the Sunday Times earlier this month that he “will not make any big-name bids until his name has been cleared.”

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