Lots of companies don’t disclose terms of the deals they do.

But often when the acquirer is publicly held, you do learn who paid what. It just takes patience.

Last December, a Houston company bought T. Williams Consulting L.L.C., of Audubon, Pa. The second sentence of Comsys IT Partners Inc.’s press release said that terms were not being disclosed.

T. Williams Consulting, which also calls itself TWC Group, is in what’s called the recruitment process outsourcing business. Founded by Terry Williams in 1996, the company started out providing recruitment services for venture capital firms and the companies in which they invested.

TWC made inroads into the Fortune 500 and has grown rapidly. Last fall, the Wharton Small Business Development Center listed it at No. 91 on the annual Philadelphia 100 list of fastest-growing privately held companies. TWC had revenues of $9.05 million.

In contrast, Comsys is huge, with $743.3 million in revenues in 2007. Some public companies, when they buy something as small as TWC, never divulge the details.

But Comsys did in a note in its financial statements.

So now we know that Comsys paid $16.5 million in cash for TWC last December. And there could be more:

If TWC meets a certain earnings target, Comsys would pay up to $7.5 million more.

July Blues

July just got hotter.

The Pennsylvania Insurance Department will hold three days of hearings on the merger between Highmark and Independence Blue Cross.

I expect hospitals, doctors, patient advocates and other insurers will let regulators know how much they want this deal stopped.

The hearings will be held in Pittsburgh on July 8; in Harrisburg on July 10; and in Philadelphia on July 15.