Mergers and Acquisitions

Illinois Tool Works announced a deal to sell its industrial packaging unit to Carlyle Group for $3.2 billion, as the company continues to revamp its portfolio.

Liberty Media and Discovery Communications are reportedly in talks to acquire a minority stake in global racing circuit Formula One.

Smith & Nephew inked a deal on Monday to buy medical device maker ArthroCare for $1.7 billion as it bets on sports medicine.

Cereal maker Post Holdings agreed to buy Nestle’s PowerBar and Musashi brands, continuing to widen its portfolio of nutrition products.

Men's Wearhouse sent a letter to Jos. A. Bank's board on Thursday, offering to consider a higher bid for the rival suit seller if given the opportunity to conduct limited due diligence.

Chrysler, which is nearing a full merger with Italian parent Fiat, saw its fourth-quarter profit more than quadruple amid a significant tax benefit.

Merger and acquisition activity in the U.S. energy sector was largely fueled last year by continued interest in shale plays, including Eagle Ford in Texas and the Marcellus Shale.

Martin Marietta agreed to buy Texas Industries, a rival provider of construction materials, for $2.06 billion in stock.

Quest Diagnostics agreed to pay a private equity firm $570 million for Solstas Lab Partners Group, as the testing provider continues to expand its laboratory offerings.

Anheuser-Busch InBev agreed to buy back South Korea’s Oriental Brewery, as the world’s largest brewer looks to bulk up in Asia.

Royal Dutch Shell is selling its stake in an Australian natural gas project for $1.14 billion, as the oil giant focuses on more profitable investments.

AOL shopped its Patch news service for more than a year to various media companies before reaching a deal with private equity firm Hale Global, the FOX Business Network has learned.

Jos. A. Bank said its board rejected a $1.6 billion hostile takeover bid from Men’s Wearhouse, continuing the tug-of-war between the two suit sellers.

Charter reportedly renewed talks with Comcast this week over the possibility of making a joint bid to acquire Time Warner Cable, which has rejected several offers from Charter.

Eminence Capital plans to nominate two people to Jos. A. Bank’s board, as the shareholder continues its push for a deal between the suit seller and rival Men’s Wearhouse.

Google agreed to buy intelligent home appliance startup Nest Labs for $3.2 billion in cash late Monday.

Charter sent a letter to Time Warner Cable on Monday, urging merger talks between the two cable heavyweights.

American Airlines and US Airways are now allowing travelers to book on each other’s networks for flights starting Jan. 23.

McKesson didn’t receive the required shareholder support in its attempt to purchase German drug and pharmacy giant Celesio, less than a week after boosting its offer.

Eminence Capital, Men’s Wearhouse’s largest shareholder, is backing the suit seller’s hostile bid to acquire rival Jos. A. Bank, putting pressure on the dueling retailers to reach a deal.