Nestles SA deal includes takeover of Ralston Purina
NEW YORK — Ralston Purina Co. has reportedly accepted a $10.1 billion takeover offer from Nestle SA, the Swiss food giant whose products include the Friskies and Alpo pet food brands.
The deal is expected to be announced Tuesday, The Wall Street Journal reported on its Web site Monday, citing people familiar with the situation.
Nestle will pay $33.50 for each share of Ralston, a 36 percent premium to the St. Louis-based company’s closing stock price Friday of $24.63 on the New York Stock Exchange.
Nestle and Ralston Purina on Monday refused to comment on reports that a deal was in the works.
Motorola lays off workers to help increase profits
CHICAGO — Struggling Motorola Inc. said Monday it is halting cellular-phone manufacturing at its plant in Harvard, Ill., and laying off about 2,500 workers in an effort to improve sagging profits.
The announcement came less than a week after the Schaumburg, Ill.-based tech giant, which also is a leading semiconductor manufacturer, pledged more cost-cutting measures in 2001 to try to revive its slumping cellphone business.
The approximately 2,500 manufacturing jobs being eliminated represent nearly 2 percent of its work force of 130,000.
Motorola said in a statement that the move is “part of a long-term, company-wide strategy to improve supply-chain efficiencies, consolidate manufacturing, improve financial performance and build on company strengths.”
Intel prepared to acquire computer gear company
SANTA CLARA — Chip-making giant Intel Corp. has agreed to acquire Xircom Inc., a maker of mobile computing gear, for about $748 million, the companies said Monday.
The acquisition, expected to be completed by the end of March, will supplement Intel’s desktop computer and server-based business, Intel officials said.
Xircom, based in Thousand Oaks, makes network adapters, modems, and cards that connect mobile computers to local or corporate networks and the Internet. The company, which has 1,900 employees worldwide and generated $492 million in revenue last year, will become a wholly owned subsidiary of Intel.