Summary

Other Scenarios:

Buyer: The Procter & Gamble Company (PG) Last Price: 67.81 Market Cap.: 211.30B
Target: Norsk Hydro ASA (ADR) (NHY) Last Price: 40.92 Market Cap.: 50.20B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare   930
*Media   148
Energy   358
Manufacturing 1,192
Services   390

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 75)
  • Folgers
  • Millstone
  • Iams
  • Eukanuba
Target (Total: 6)
  • BioMar Holding AS
  • Hydro Polymers
  • Hydro Aluminium
Buyer
  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
Target
  • Hydro Energy and Oil Marketing
  • Norsk Hydro ASA
  • Norsk Hydro

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 64)
  • Nastech Pharmaceutical Co. Inc. (NSTK)
  • Alexion Pharmaceuticals, Inc. (ALXN)
  • Multi-Color Corp. (LABL)
  • Tredegar Corporation (TG)
Target (Total: 7)
  • Blue Dolphin Energy Company (BDCO)
  • Endeavour International Corporation (END)
  • Rio Tinto plc (ADR) (RTP)
  • FMC Technologies, Inc. (FTI)
Buyer (Total: 10)
  • Wal-Mart Stores, Inc. (WMT)
  • sanofi-aventis (ADR) (SNY)
  • Sally Beauty Holdings, Inc. (SBH)
  • 99 Cents Only Stores (NDN)
Target (Total: 1)
  • Cathay Merchant Group, Inc. (CMQ)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 138,000 33,605
Revenue Per Employee 560,143.3 998,345.9
Total Revenue 19,272.0 8,220.5
Total Expenses 15,872.0 5,746.7
Other Revenue 0.0 0.0
Cost of Revenue 9,477.0 0.0
SG&A Expense 6,395.0 0.0
Research & Development 0.0 0.0
Other Operating Expense 0.0 4,936.3
Operating Income 3,400.0 2,473.8
Unusual Income 0.0 0.0
LT Debt to Capital 25.93 15.74
Fwd P/E 19.44 15.09
Fwd P/Rev 2.59 1.68
Book Value 65,354.0 17,241.0
Curr Portion of LTD/Cap Lease 12,039.0 0.0

Individual Company Summary

Focused

Buyer

Focused (): Manufacturing > Consumer Manufacturing > Personal Care and Cleaning Products

Target

Focused (): Manufacturing > Materials > Metal and Mineral Products > Metal > Primary Metals > Alumina and Aluminum Products > Fabricated Aluminum Structural Shapes

Business Description

Buyer

The Procter & Gamble Company (P&G) is focused on providing branded consumer goods products. The Company markets its products in more than 180 countries. During the fiscal year ended June 30, 2007 (fiscal 2007), the Company was organized into three global business units: Beauty and Health, Household Care and Gillette GBU. P&G had seven segments under United States Generally Accepted Accounting Principles: Beauty; Health Care; Fabric Care and Home Care; Snacks, Coffee and Pet Care; Baby Care and Family Care; Blades and Razors, and Duracell and Braun. In September 2006, the Company's Sure brand (an antiperspirant and deodorant brand) was acquired by Innovative Brands, LLC. In January 2007, P&G acquired HDS Cosmetics Lab Inc., which manufactures and markets Doctor's Dermatologic Formula (DDF) skin care.

Target

Norsk Hydro ASA (Hydro) is an international energy company. The Company develops, produces and supplies oil, gas and hydropower, and manages energy trading and transport operations. Hydro is a global aluminium supplier with primary metal production in Europe, Canada and Australia and a network of remelt facilities. It is a supplier to the building industry, especially in Europe, and of rolled products to the packaging and graphics industries. In December 2006, VM Materiaux bought back Quartz from Hydro. Quartz is a department of the Hydro Building Systems, a French aluminum supplier. During the year ended December 31, 2006, the Company sold its automotive castings business and 49 % in Meridian Technologies Inc.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 52.03 49.57
Operating Margin % 20.2 26.61
Quick Ratio 0.4 0.78
Current Ratio 0.78 1.34
Coverage Ratio -0.08 0
Total Assets 138,014.0 38,914.8
Return on Equity % 15.49 18.06
Return on Assets % 7.49 7.45
Cash+ ST Inv. Per Share 1.65 2.92
Total Debt 35,414.0 3,870.5
Total Debt to Equity % 53.05 24.12
Total Debt to Tangible Equity % n/a 24.12
Debt to Asset % 25.66 9.95

Product Summary

Sector Buyer Target
*Healthcare  
Biopharmaceuticals  
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
  
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Obstetrics/Gynecology
The Obstetrics/Gynecology Subsector includes therapeutics that treat female genital disorders, pregnancy, and childbirth.
  
Respiratory System
The Respiratory System Subsector includes therapeutics that treat disorders affecting both the upper and lower respiratory tract, including the nose, throat, larynx, trachea, bronchi, and lungs.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  
Medical Devices  
Medical Supplies
The Medical Supplies Subsector includes basic and consumable products that are widely used in healthcare settings.
  
Orthopedics
The Orthopedics Subsector includes medical devices that diagnose and treat musculoskeletal diseases involving muscles, bones and joints.
  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  
Scientific Products  
Consumables
The Consumables Subsector includes chemicals, reagents, standards, media, and disposable labware that are normally depleted or worn out by continuous use.
  
*Media  
Entertainment/Programming  
Television, Film and Video
Companies involved in the production, post-production, and distribution of Motion Pictures and Television programming.
  
Energy  
Downstream  
Petroleum Refineries
Companies engaged in crude oil refining, producing gasoline, middle distillates (such as jet fuel (kerosene), heating oil, and diesel), as well as petrochemicals, lubricants and other refined products. These companies also engage in wholesale marketing of these products.
  
Upstream  
Crude Oil and Natural Gas Exploration/Production
Companies that engage in exploration and production of crude oil and natural gas from land or sea oilfields.
  
Manufacturing
Consumer Manufacturing
Food, Beverage and Agriculture
Includes agricultural inputs like livestock and crops, as well as processed food and beverage products. Tobacco growers and cigarette manufacturers are also included.
Household Products
The Household Products sector includes furniture and other home and institutional decorative items, major and small appliances, kitchenware, and other related products.
  
Personal Care and Cleaning Products
Companies engaged in the manufacturing of personal care products, such as cosmetics, fragrances, skin lotion, shampoo and other toiletries; and household cleaning products, such as window/surface cleaner, and table polish.
  
Materials  
Chemicals
The Chemicals Subsector includes companies that manufacture basic, intermediate, specialty, and performance chemicals.
  
Metal and Mineral Products
The Metal and Mineral Products Subsector includes companies that produce primary and industrial metal products, as well as clay, ceramic and glass products.
  
Plastic and Rubber
The Plastic and Rubber Subsector Includes companies that manufacture basic plastic sheets and shapes, packaging plastic bags and containers, and other engineered rubber products.
  
Services  
Utilities  
Energy
Companies which offer Energy (Gas and Electric) service to residential and commercial users.
  

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare  
Biopharmaceuticals  
Allergies  
Upper Respiratory  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives/Analgesics/Antipyretics
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, relieving or preventing coughs, relieving pain, and reducing fever.

Buyer Products:

  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
  
Cardiovascular System  
Heart Disorders  
Arrhythmia  
Potassium Channel Blocking Agents
Therapeutics that treat abnormal rhythm of the heart by preventing the entry of potassium into heart muscle cells.

Buyer Products:

  • Azimilide
  
Dermatology  
Acne  
Vulgaris  
Retinoids/Vitamin A Analogs
Therapeutics that treat acne by helping in cell differentiation as well as prevent cell proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Lesion/Scaling Disorders  
Psoriasis  
Retinoids/Vitamin A Analogs
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, and causing the shedding of the horny layer of the skin by modulating cell differentiation and proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Digestive System  
Gastrointestinal Tract Disorders  
Gastroduodenal Disorders  
Peptic Ulcers  
Duodenal  
Antisecretory Agents/Nitroimidazoles/Tetracyclines
Therapeutics that treat peptic ulcers by preventing the secretion of acid as well as treating infections by using antibiotics.

Buyer Products:

  • Helidac (Bismuth Subsalicylate/Metronidazole/Tetracycline Hydrochloride)
  
Gastroesophageal Disorders  
Acid Indigestion/Heartburn  
Proton Pump Inhibitors
Therapeutics that treat heartburn by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Prilosec OTC (Omeprazole)
  
Intestinal Disorders  
Constipation  
Chronic  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Metamucil (Psyllium)
  
Irregular Bowel Movements  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Metamucil (Psyllium)
  
Diarrhea  
Antisecretory Agents
Therapeutics that treat diarrhea by bringing fluid movement within the intestine to normal levels.

Buyer Products:

  • Pepto Bismol (Bismuth Subsalicylate)
  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat ulcerative colitis by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Buyer Products:

  • Asacol (Mesalamine)
  
Immunology  
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat inflammation of the colon and rectum by blocking the action of cyclooxygenase and lipoxygenase.

Buyer Products:

  • Asacol (Mesalamine)
  
Psoriasis  
Retinoids/Vitamin A Analogs
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, and causing the shedding of the horny layer of the skin by modulating cell differentiation and proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Narrow Spectrum  
Digestive System  
Heliobacter pylori  
Antisecretory Agents/Nitroimidazoles/Tetracyclines
Therapeutics treat digestive infections caused by Helicobacter pylori bacteria by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Helidac (Bismuth Subsalicylate/Metronidazole/Tetracycline Hydrochloride)
  
Urology  
Urinary Tract Infections (UTI)  
Antibacterial Agents (Antibiotics)  
Nitrofurantoins
Therapeutics that treat bacterial infections of the urinary tract by inactivating/altering bacterial proteins and other macromolecules.

Buyer Products:

  • Macrodantin (Nitrofurantoin)
  • Macrobid (Nitrofurantoin)
  
Musculoskeletal System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of skeletal system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Parathyroid Hormone (PTH 1-34) Nasal Spray
  
Skeletal Disorders  
Bone Disorders  
Heterotopic Ossification  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat ossification by inhibiting the loss of bone material by osteoclasts.

Buyer Products:

  • Didronel (Etidronate Disodium)
  
Osteoporosis  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat osteoporosis by preventing loss of bone mass due to osteoclasts.

Buyer Products:

  • Actonel (Risedronate Sodium)/Once Weekly Actonel (Risedronate Sodium)/Actonel With Calcium
  
Paget`s Disease  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat paget's disease by inhibiting the loss of bone material by osteoclasts.

Buyer Products:

  • Didronel (Etidronate Disodium)
  • Actonel (Risedronate Sodium)/Once Weekly Actonel (Risedronate Sodium)/Actonel With Calcium
  
Neurology  
Neurological Disorders  
Spasticity (Spinal Shock)  
Calcium Channel Inhibitors
Therapeutics that treat spasticity by preventing the release of calcium from the sarcoplasmic reticulum which results in reduced involuntary muscle contractions.

Buyer Products:

  • Dantrium/Dantrium I.V. (Dantrolene Sodium)
  
Obstetrics/Gynecology  
Female Genital Disorders  
Sexual Dysfunction  
Androgens
Therapeutics that treat female sexual dysfunction by providing male sex hormone, such as testosterone, that is important for the normal functioning of the female reproductive system.

Buyer Products:

  • Intrinsa (Testosterone Patch)
  
Respiratory System  
Upper Respiratory Tract Disorders  
Coughs/Colds  
Amphetamines
Therapeutics that treat coughs and colds by helping to relieve nasal congestion.

Buyer Products:

  • Vicks Vapor Inhaler (1-Desoxyephedrine)
  
Antihistamines/Antitussives
Therapeutics that block the inflammatory action of histamines and relieve or prevent coughs.

Buyer Products:

  • Vicks NyQuil Cough (Doxylamine Succinate/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, relieving or preventing coughs, relieving pain, and reducing fever.

Buyer Products:

  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
  
Antitussives
Therapeutics that relieve or prevent coughs.

Buyer Products:

  • Vicks 44 Cough Relief (Dextromethorphan Hydrobromide)
  
Antitussives/Expectorants
Therapeutics that treat coughs and colds by suppressing coughs and helping ejection of the mucous.

Buyer Products:

  • Vicks 44E/Vicks Pediatric Formula 44E (Dextromethorphan HBr/Guaifenesin)
  
Decongestants
Therapeutics that treat coughs and colds by reducing mucous build up.

Buyer Products:

  • Vicks Inhaler (Levmetamfetamine)
  • Vicks Sinex 12 Hour (Oxymetazoline)
  • Vicks Sinex (Phenylephrine Hydrochloride)
  
Decongestants/Antitussives
Therapeutics that treat coughs and colds by reducing mucous build up and suppressing the cough.

Buyer Products:

  • Vicks 44D Cough & Head Congestion Relief (Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Decongestants/Antitussives/Expectorants/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by reducing mucous build up, suppressing the cough, helping in the ejection of mucous and helping relieve fever and pain.

Buyer Products:

  • Vicks DayQuil Multi Symptom Cold/Flu Relief (Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Guaifenesin/Acetaminophen)
  
Decongestants/Expectorants
Therapeutics that treat coughs and colds by reducing mucous build up and help in ejection of mucous.

Buyer Products:

  • Vicks DayQuil Sinus Presure & Pain Relief (Phenylpropanolamine/Guaifenesin)
  
Expectorants/Opioids
Therapeutics that treat coughs and colds by suppressing the cough and helping in the ejection of the mucous.

Buyer Products:

  • Brontex (Guaifenesin/Codeine Phosphate)
  
Surgery  
General  
Complications  
Hyperthermia  
Calcium Channel Inhibitors
Therapeutics that treat hyperthermia by preventing the release of calcium from the sarcoplasmic reticulum which results in inhibits the catabolic processes responsible for increase in temperature.

Buyer Products:

  • Dantrium/Dantrium I.V. (Dantrolene Sodium)
  
Urology  
Urological Disorders  
Bladder  
Urinary Frequency/Urge Incontinence  
Anticholinergic Agents
Therapeutics that treat the inability to control urinary excretory functions by blocking the actions of choline and other cholinergic agents.

Buyer Products:

  • Enablex (Darifenacin)
  
Medical Devices  
Medical Supplies  
Diagnostic  
Temperature  
Thermometers
Medical instruments designed to measure the temperature in patients

Buyer Products:

  • Vicks Thermometer Series
  
Orthopedics  
Treatment  
Pain Management  
General Purpose  
Dry Heat Therapy
Devices that control the of use dry heat to ease pain associated with musculoskeletal injuries.

Buyer Products:

  • ThermaCare Heatwrap Series
  
Nutritional Health  
Dietary/Naturopathic Supplements  
General Health
Products consisting of dietary/naturopathic supplements that are intended to support general health.

Buyer Products:

  • The Procter & Gamble Company
  
Scientific Products  
Consumables  
Bioanalytical Chemistry  
Cell Biology  
Cell Proliferation  
Kits
Cell proliferation consumables that are a collection of reagents, standards, and other consumables assembled for used in various biological analyses.

Buyer Products:

  • CellCube System
  • E-Cube Culture System Kit
  
*Media  
Entertainment/Programming  
Television, Film and Video  
Production  
Television  
Domestic  
Soap Opera
Shows depicting the interconnected lives of many characters often in a sentimental, melodramatic way.

Buyer Products:

  • Procter & Gamble Productions
  
Energy  
Downstream  
Petroleum Refineries  
Europe
Petroleum Refineries conducting operations in Europe.

Target Products:

  • Hydro Energy and Oil Marketing
  
Upstream  
Crude Oil and Natural Gas Exploration/Production  
Americas  
Canada
Companies that engage in Oil/Gas exploration and production in Canada.

Target Products:

  • Norsk Hydro ASA
  
U.S.  
Southern Region  
Gulf of Mexico
Companies that engage in Oil/Gas exploration and production in the Gulf of Mexico.

Target Products:

  • Norsk Hydro ASA
  
Europe  
North Sea
Exploration, extraction, and production of crude oil and natural gas from offshore oilfields located in the North Sea. Norway has the largest single reserves in this region, followed by the Untied Kingdom. Germany, Denmark, and the Netherlands possess smaller fields here.

Target Products:

  • Norsk Hydro ASA
  
Middle East/Africa
Companies that engage in Oil/Gas exploration and production in the Middle East/Africa region.

Target Products:

  • Norsk Hydro ASA
  
Russia/CIS/FSU
Companies that engage in Oil/Gas exploration and production in Russia and the CIS (Commonwealth of Independent States) or the Former Soviet Union (FSU). Includes Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.

Target Products:

  • Norsk Hydro ASA
  
Manufacturing
Consumer Manufacturing
Food, Beverage and Agriculture
Agriculture  
Animal Production  
Support Activities for Animal Production
Includes food irradiation, animal feed, and other support activities.

Target Products:

  • BioMar Holding AS
  
Beverages  
Non-Alcoholic Beverages  
Coffee/Tea
Coffee and Tea Manufacturing.

Buyer Products:

  • Folgers
  • Millstone
  
Food  
Pet Food
Food for dogs and cats.

Buyer Products:

  • Iams
  • Eukanuba
  
Sweets/Snacks  
Snack Foods
Manufacturers of Potato Chips, Peanuts, Trail Mix, and Cheese Snacks.

Buyer Products:

  • Pringles
  
Household Products  
Household Appliances and Tools  
Other Household Products  
Brooms, Brushes, and Mops
Brooms, brushes, mops, and other manual cleaning equipment.

Buyer Products:

  • Swiffer
  
Small Electrical Appliances/Accessories  
Consumer Batteries
Relatively small, portable batteries used to power all varieties of consumer electronic devices. These one-time-use or rechargeable batteries store electric energy and can be used to power various devices ranging from CD players to cell phones. The most popular battery types include: lithium (Li), lithium ion (Li-ion), nickel-metal hybrid (NiMH), and nickel-cadmium (NiCAD). Flashlights are included at this level.

Buyer Products:

  • Duracell
  
Kitchen/Bath Appliances
Electrical Kitchen/Bath Appliances, including toasters; juicemakers; and food blenders, as well as electrical toothbrushes, hairdryers, and electric massagers.

Buyer Products:

  • Oral-B
  
Personal Care and Cleaning Products  
Absorbent Products
Absorbent products, including tampons, pads, and diapers.

Buyer Products:

  • Tampax
  • Always
  • Pampers
  
Anti-Perspirant
Anti-Perspirant and/or deodorant.

Buyer Products:

  • Secret
  • Old Spice
  
Cosmetics
Companies engaged in the manufacturing of cosmetics, such as lipstick, powders, and other make-up.

Buyer Products:

  • Olay
  • Max Factor
  • CoverGirl
  
Fragrances
Companies engaged in the manufacturing of fragrances, such as perfume and cologne.

Buyer Products:

  • Hugo Boss
  • Giorgio Beverly Hills
  
Hair Care
Companies engaged in the manufacturing of hair care products, such as shampoo, conditioner, hair dye, hair spray, styling gel, and mousse. Also includes hair accessories, such as pins, clips, and curlers.

Buyer Products:

  • Clairol
  • Herbal Essences
  • Physique
  • Infusium 23
  • Aussie
  • Pantene
  • Head & Shoulders
  
Household Cleaning Products
Chemical-based household cleaning products, such as detergent and surface cleaner. Also includes automotive cleaning products.

Buyer Products:

  • Tide
  • Mr. Clean
  • Downy
  • Febreze
  • Swiffer
  
Oral Care
Oral Care products, including Toothpaste, Mouthwash, and denture adhesive.

Buyer Products:

  • Fixodent
  
Sanitary/Personal Care Paper
Companies engaged in the manufacturing of sanitary/personal care paper such as napkins and tissues.

Buyer Products:

  • Charmin
  • Bounty
  • Puffs
  
Skin Care
Companies engaged in the manufacturing of skin care products, such as suntan lotion, skin lotion, sanitizer, shaving cream, and moisturizer. Also includes manufacturers of non-electrical shaving equipment.

Buyer Products:

  • Doctor's Dermatologic Formula
  • Gillette
  • Olay
  • Noxzema
  
Soap/Body Wash
Soap, Body Wash, and Shower Gel.

Buyer Products:

  • Camay
  • Ivory
  • Safeguard
  
Materials  
Chemicals  
Basic and Intermediate Chemicals  
Inorganic Chemicals  
Chlor-alkalies
Includes companies engaged in the manufacturing of chlor-alkalies, such as caustic soda, chlorine, soda ash and others.

Target Products:

  • Hydro Polymers
  
Petrochemicals and Other Organic Chemicals  
Other Organic Chemicals
Includes companies engaged in the manufacturing of other basic and intermediate organic chemicals, such as industrial alcohol, acrylate, vinyl chloride monomer, vinyl acetate monomer, formaldehyde, enzymes, proteins, fatty acids and others. Ethanol is excluded from this level.

Target Products:

  • Hydro Polymers
  
Petrochemicals
Includes companies engaged in the manufacturing of petrochemicals, such as phenol, benzene, cumene, ethylene, propylene, xylene, butadiene, butylene, aniline and others.

Target Products:

  • Hydro Polymers
  
Specialty and Performance Chemicals  
Fibers and Polymers  
Plastic Resins and Materials
Includes companies engaged in the manufacturing of plastic resins and materials, such as polyethylene, polypropylene, polystyrene, polycarbonates, thermoplastic polyester, polyamide, acrylonitrile butadiene styrene and others.

Target Products:

  • Hydro Polymers
  
Metal and Mineral Products  
Metal  
Primary Metals  
Alumina and Aluminum Products  
Aluminum
Includes companies engaged in the manufacturing of aluminum from alumina.

Target Products:

  • Hydro Aluminium
  
Fabricated Aluminum Structural Shapes
Includes companies engaged in the manufacturing of fabricated aluminum structural shapes, such as sheets, plates, rolls, foil and others.

Target Products:

  • Hydro Aluminium
  
Plastic and Rubber  
Plastic Products  
Basic Plastic Sheets, Films and Shapes
Includes basic plastic materials in various forms and shapes, manufactured from raw plastics and resins, which are then incorporated into a wide range of consumer and industrial products.

Target Products:

  • Hydro Polymers
  
Services  
Utilities  
Energy  
Domestic  
Electricity  
Wholesale Generation and Marketing  
Hydroelectric
Wholesalers which provide Electricity generated by hydroelectric power.

Target Products:

  • Norsk Hydro
  
Other
Wholesalers which provide Electricity generated by other means, including solar and geothermal power.

Target Products:

  • Norsk Hydro
  
International  
Electricity  
Electric Power Utilities  
Europe  
Western Europe
Electric Utilities offering service in Western Europe.

Target Products:

  • Norsk Hydro
  
Wholesale Generation and Marketing  
Europe
Electricity Wholesalers in Europe.

Target Products:

  • Norsk Hydro
  

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  GlaxoSmithKline plc (ADR) n/a 150,459.597 13.70 13.62 3.25 3.31 12.06
PepsiCo, Inc. n/a 112,394.142 19.03 20.74 3.10 2.93 11.41
Bayer AG (ADR) n/a 59,534.590 10.55 15.61 1.38 1.33 n/a
Diageo plc (ADR) n/a 54,615.024 19.17 18.79 3.68 3.13 n/a
Unilever plc (ADR) n/a 52,399.772 7.27 17.08 0.95 0.99 n/a
Unilever N.V. (ADR) n/a 50,810.835 7.43 16.88 0.92 0.92 n/a
Koninklijke Philips Electronics NV (ADR) n/a 46,324.654 4.60 21.44 1.28 1.27 2.15
Cadbury Schweppes plc (ADR) n/a 24,568.185 22.96 27.89 2.50 1.87 13.63
Covidien Ltd. n/a 20,911.210 n/a 15.43 2.08 2.06 n/a
Avon Products, Inc. n/a 14,748.940 27.66 22.95 1.60 1.51 23.62
Gucci Group N.V. (ADR) n/a 9,908.476 41.90 n/a 2.82 n/a 5.46
The Estee Lauder Companies Inc. n/a 7,788.377 17.34 17.24 1.11 1.05 17.93
Energizer Holdings, Inc. n/a 6,259.867 21.55 20.36 1.89 1.83 n/a
Target
  Companhia Vale do Rio Doce (ADR) n/a 131,682.574 13.43 11.13 4.65 3.98 5.11
BASF AG (ADR) n/a 63,527.617 13.53 n/a 0.81 n/a 4.31
BG Group plc (ADR) n/a 54,598.521 15.97 16.55 3.38 3.69 4.55
Alcan Inc. (USA) n/a 36,945.539 19.50 15.83 1.48 1.45 5.01
Alcoa Inc. n/a 31,365.530 13.81 10.86 1.00 0.97 2.94
Rexam PLC (ADR) n/a 6,658.217 14.06 17.43 0.98 0.96 11.46
The Scotts Miracle-Gro Company n/a 2,872.780 25.13 18.88 1.01 0.99 n/a
Rockwood Holdings, Inc. n/a 2,329.547 11.69 17.31 0.75 0.71 n/a
Kaiser Aluminum Corp. n/a 1,416.541 0.44 17.23 0.98 0.92 2.83
Hydrogenics Corporation (USA) n/a 103.695 n/a -5.55 2.97 2.60 2.08
Distributed Energy Systems Corp n/a 36.271 n/a -1.57 0.84 n/a 1.24
Cathay Merchant Group, Inc. n/a 7.178 n/a n/a 0.06 n/a 1.09

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Nastech Pharmaceutical Co. Inc. 77.00% 352.738 n/a -7.39 17.45 16.42 5.56
Alexion Pharmaceuticals, Inc. 37.70% 2,293.244 n/a -20.03 138.78 55.38 30.03
Multi-Color Corp. 30.00% 236.520 20.84 19.97 1.06 n/a 4.03
Tredegar Corporation 23.40% 655.306 15.98 17.11 0.58 n/a 1.60
Griffon Corporation 14.00% 436.205 13.82 16.98 0.26 n/a 1.32
Buckeye Technologies Inc. 13.00% 541.960 17.99 13.26 0.70 0.67 2.83
Sonoco Products Company 12.00% 3,386.872 17.28 14.07 0.87 0.85 9.33
Publicis Groupe S.A. (ADR) 10.00% 7,543.253 12.40 14.91 1.23 1.14 n/a
Valassis Communications, Inc. 10.00% 448.656 12.99 8.60 0.30 0.20 n/a
Curis, Inc. 5.00% 53.497 n/a n/a 3.84 3.60 2.51
American Express Company n/a 69,719.179 17.42 17.46 2.34 2.48 6.56
WPP Group plc (ADR) n/a 16,342.844 18.37 15.93 1.36 1.37 n/a
Boston Properties, Inc. n/a 11,579.676 10.17 21.06 7.66 8.27 2.78
Metso Oyj (ADR) n/a 9,013.168 17.74 15.78 1.18 n/a 15.24
Dassault Systemes S.A. (ADR) n/a 7,094.425 27.36 26.04 4.25 4.07 4.53
Owens-Illinois, Inc. n/a 6,192.462 71.09 18.87 0.82 0.82 n/a
Huntsman Corporation n/a 5,803.213 n/a 19.75 0.58 0.60 3.97
BEA Systems, Inc. n/a 5,194.029 36.05 30.38 4.01 3.36 5.07
Target
  Blue Dolphin Energy Company 34.20% 37.595 n/a n/a 10.48 n/a 4.41
Endeavour International Corporation 10.00% 127.351 n/a 102.00 1.13 0.72 n/a
Rio Tinto plc (ADR) n/a 108,595.962 15.75 12.60 4.54 4.01 5.65
FMC Technologies, Inc. n/a 7,162.640 17.62 24.95 1.73 1.56 12.08
Oceaneering International n/a 4,073.320 27.26 24.27 2.80 2.52 5.82
CHC Helicopter Corporation (USA) n/a 1,630.963 52.61 18.44 1.51 1.29 3.62
Statkraft SF n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Wal-Mart Stores, Inc. 15.00% 176,235.594 14.25 14.16 0.49 0.47 3.70
sanofi-aventis (ADR) n/a 116,041.327 21.97 11.99 2.87 3.01 n/a
Sally Beauty Holdings, Inc. n/a 1,503.840 25.80 28.66 0.61 0.60 n/a
99 Cents Only Stores n/a 752.313 69.21 38.29 0.66 0.62 1.44
Helen of Troy Limited n/a 601.450 11.24 10.41 0.93 0.90 5.65
Prestige Brands Holdings, Inc. n/a 533.535 14.76 14.09 1.66 1.59 n/a
Fred's, Inc. n/a 418.061 16.32 14.50 0.23 0.23 1.11
United-Guardian, Inc. n/a 50.206 14.95 n/a 3.71 n/a 3.65
AMCON Distributing Co. n/a 15.285 8.52 n/a 0.02 n/a n/a
Synergy Brands, Inc. n/a 8.183 n/a n/a 0.10 n/a 1.26
Target
  Cathay Merchant Group, Inc. n/a 7.178 n/a n/a 0.06 n/a 1.09

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Berkshire Hathaway Inc. n/a 185,674.793 15.38 n/a 1.66 n/a 2.24
Wal-Mart Stores, Inc. n/a 176,235.594 14.25 14.16 0.49 0.47 3.70
Target
  Exxon Mobil Corporation n/a 491,787.026 12.21 12.73 1.31 1.34 4.23
Royal Dutch Shell plc (ADR) n/a 260,977.639 9.60 n/a 0.82 n/a 2.43
Chevron Corporation n/a 193,239.515 10.23 10.79 0.94 0.93 2.78
BHP Billiton Limited (ADR) n/a 192,219.202 15.69 14.20 5.42 4.33 7.04
TOTAL S.A. (ADR) n/a 175,823.241 11.48 11.03 0.99 0.94 3.27
BHP Billiton plc (ADR) n/a 175,778.234 17.97 13.34 5.47 4.57 n/a
ConocoPhillips n/a 138,750.149 12.71 8.90 0.75 0.81 2.55
Companhia Vale do Rio Doce (ADR) n/a 131,682.574 13.43 11.13 4.65 3.98 5.11
Rio Tinto plc (ADR) n/a 108,595.962 15.75 12.60 4.54 4.01 5.65
Statoil ASA (ADR) n/a 68,334.633 10.39 12.31 0.94 0.90 4.94
BASF AG (ADR) n/a 63,527.617 13.53 n/a 0.81 n/a 4.31
Repsol YPF, S.A. (ADR) n/a 41,228.542 9.79 9.92 0.55 0.59 2.34
Alcan Inc. (USA) n/a 36,945.539 19.50 15.83 1.48 1.45 5.01
Fiat S.p.A. (ADR) n/a 32,180.617 14.77 n/a 0.43 n/a 6.87
Dominion Resources, Inc. n/a 29,908.144 49.19 16.23 1.83 1.83 3.48
Petro-Canada (USA) n/a 27,332.332 11.57 11.34 1.44 1.87 2.80
Anadarko Petroleum Corporation n/a 23,556.917 5.70 13.27 1.86 2.26 2.13
Murphy Oil Corporation n/a 12,166.009 18.13 16.75 0.78 0.86 2.68
Noble Energy, Inc. n/a 11,072.929 12.25 12.78 3.70 3.64 3.06
Sociedad Quimica y Minera (ADR) n/a 4,010.062 25.07 n/a 3.66 n/a 3.81
UGI Corporation n/a 2,735.248 14.43 14.49 0.50 n/a n/a
Petrobras Energia Participaciones SA ADR n/a 1,982.800 9.19 7.53 0.52 0.53 0.97
Westlake Chemical Corporation n/a 1,646.511 12.32 10.70 0.61 0.54 1.34

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 76,476.0 32,635.2 109,111.2
Other Revenue 0.0 0.0 0.0
Total Revenue 76,476.0 32,635.2 109,111.2
Cost of Revenue 36,686.0 16,458.0 53,144.0
SG&A Expense 24,340.0 3,227.0 27,567.0
Depreciation & Amortization 0.0 2,816.8 2,816.8
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 578.9 578.9
Unusual Expense (Income) 0.0 869.5 869.5
Total Expenses 61,026.0 23,950.1 84,976.1
Operating Income 15,450.0 8,685.1 24,135.1
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -1,304.0 8.8 -1,295.2
Other, Net 564.0 -9.6 554.4
Income Before Taxes 14,710.0 9,150.6 23,860.6
Income Taxes 4,370.0 6,252.8 10,622.8
Income After Taxes 10,340.0 2,897.7 13,237.7
Minority Interest (IS) 0.0 -33.6 -33.6
Net Income - Excl. Xord. Items 10,340.0 2,864.2 13,204.2
Discontinued Operations 0.0 27.8 27.8
Net Income - Incl. Xord. Items 10,340.0 2,891.9 13,231.9
Preferred Dividends -161.0 0.0 -161.0
Income Avail. to Common 10,179.0 2,891.9 13,070.9
Share Items
Basic Avg. Shares Outstanding 2,815.8 1,240.8 4,056.6
Basic EPS - Excl. Xord. Items 3.62 2.31 3.26
Basic EPS - Incl. Xord. Items 3.62 2.33 3.26
Full Dilution Adjustment 122.0 0.0 122.0
Fully Diluted Shares Outstanding 3,377.3 1,240.8 4,618.1
F.D. EPS - Excl. Xord. Items 3.01 2.31 2.86
F.D. EPS - Incl. Xord. Items 3.01 2.33 2.87
Dividends Per Common Share 1.28 0.83 2.11
Balance Sheet
Assets
Cash and Equivalents 5,354.0 1,124.2 6,478.2
ST Investments 202.0 2,497.9 2,699.9
Accounts Receivable 6,629.0 4,258.8 10,887.8
Inventory 6,819.0 2,743.6 9,562.6
Prepayments and Advances 3,300.0 2,332.5 5,632.5
Other Current Assets 1,727.0 702.0 2,429.0
Current Assets 24,031.0 13,659.0 37,690.0
PPE 34,721.0 43,897.9 78,618.9
Accum D&A -15,181.0 -23,113.4 -38,294.4
PPE, Net 19,540.0 20,784.5 40,324.5
Goodwill & Intangibles 90,178.0 0.0 90,178.0
Other Assets 0.0 0.0 0.0
Other LT Assets 4,265.0 4,471.3 8,736.3
Total Assets 138,014.0 38,914.8 176,928.8
Liabilities
Accounts Payable 5,710.0 2,625.7 8,335.7
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 9,586.0 2,046.1 11,632.1
ST Debt 0.0 534.3 534.3
Curr Port of LTD & Cap Lease Oblg 12,039.0 73.3 12,112.3
Other (Current) Liabilities 3,382.0 4,878.0 8,260.0
Current Liab. 30,717.0 10,157.4 40,874.4
LT Debt 23,375.0 3,262.8 26,637.8
Total LT Debt 23,375.0 3,262.8 26,637.8
Minority Interest (BS) 0.0 117.6 117.6
Deferred Taxes 12,015.0 4,541.4 16,556.4
Other LT Liab. 5,147.0 4,788.0 9,935.0
Total Liabilities 71,254.0 22,867.1 94,121.1
Shareholders Equity
Redeemable Preferred 1,406.0 0.0 1,406.0
Common Stock 3,990.0 783.0 4,773.0
Additional Paid in Capital 59,030.0 0.0 59,030.0
Retained Earnings 41,797.0 0.0 41,797.0
Treasure Stock -38,772.0 0.0 -38,772.0
Other Equity 617.0 15,264.9 15,881.9
ESOP Debt Guarantee -1,308.0 0.0 -1,308.0
Total Equity 66,760.0 16,047.9 82,807.9
Total Liab. & Equity 138,014.0 38,915.0 176,929.0
Shares Outstanding 3,131.9 1,226.2 4,358.1
Cash Flow
Operating Cash Flow
CF Net Income 10,340.0 220.0 10,560.0
CF Depreciation 3,130.0 1,605.5 4,735.5
CF Deferred Taxes 253.0 0.0 253.0
Other Non-Cash Items 279.0 58.0 337.0
Change in Working Capital -567.0 -2,335.3 -2,902.3
Total Cash From Operating Activities 13,435.0 -451.7 12,983.3
Investing Cash Flow (not calculated)
Capital Expenditures -2,945.0 -818.4 -3,763.4
Other Investing Cash Flows 462.0 -283.1 178.9
Total Cash From Investing Activities -2,483.0 -1,101.5 -3,584.5
Financing Cash Flow (not calculated)
Dividends Paid -4,209.0 0.0 -4,209.0
Purchase Or Sale of Stock -4,079.0 -128.1 -4,207.1
Purchase and Retirement of Debt -4,190.0 46.7 -4,143.3
Other Financing Cash Flow 0.0 0.2 0.2
Total Cash From Financing Activities -12,478.0 -81.2 -12,559.2
Exchange Rate Effects 187.0 15.6 202.6
Net Change in Cash -1,339.0 -1,618.2 -2,957.2
Cash Taxes Paid 4,116.0 6,162.9 10,278.9
Cash Interest Paid 1,330.0 -62.9 1,267.1