Knowledgeable sources say the Knight Capital Group (NYSE:KCG) should make a decision regarding its future ownership by early next week while rival trading companies Getco LLC and Virtu Financial LLC, both of which have submitted offers to acquire the company, tweak their proposals.
International Paper Co. (NYSE:IP) said Thursday that it will divest its Temple-Inland Building Products business to Georgia-Pacific in a cash transaction of $750 million, subject to certain pre-and post-closing adjustments. Four particleboard plants and 16 manufacturing facilities, including five solid wood mills, two medium-density fiberboard plants, one fiberboard plant and four gypsum wallboard plants, are among the assets that will be sold.
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On Thursday morning, Sprint Nextel Corporation (NYSE:S) offered a $2.90 per share for Clearwire Corporation (NASDAQ:CLWR), but that company’s shareholders are not at all likely to accept such an offer, wrote Wells Fargo in a note to investors. However, the analyst added that it is encouraging to see a negotiating starting point. At $2.90 per share, Wells believes that Clearwire is valued at 17 cents per megahertz and that other deals have been done at a 50 percent-plus premium to that implied value.
Praxair’s (NYSE:PX) subsidiary Praxair Distribution purchases PortaGas, a top producer of portable cylinder gases for the specialty gases market. PortaGas Chief Executive Kaushik Ken Parekh said that “Praxair is a perfect fit for us. Combining our business with Praxair’s gives us a stronger support network that expands our global reach.” Terms of the transaction were not divulged.
Don’t Miss: It’s Official: Sprint Makes a Bid for Clearwire.