3 Merger and Acquisitions Stock Stories Making Headlines on Friday

Republic Airways Holdings Inc. (NASDAQ:RJET): Current price $13.42

On Friday, Republic announced that it has reached a nonbinding deal to divest its Frontier division, causing a 5.6 percent spike in the company’s shares. Chief Executive Bryan Bedford said the terms stipulate that certain conditions be met to secure a binding accord, and complete the potential sale. The seller did not specify the buyer’s identity, but referred to it as a third party. During an earnings conference call, Bedford commented that “If a binding sales agreement is reached… we currently would expect such a closing to occur late in the third quarter.” Republic, which operates regional carriers Republic Airlines and Chautauqua Airlines, has wanted to divest itself of Frontier since late 2011, having brought it out of bankruptcy two years prior.

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RJET

W.P. Carey Inc. (NYSE:WPC): Current price $70.64

Corporate Property Associates 16 – Global Incorporated reported Friday that it will be acquired by W. P. Carey Inc., in a transaction valued at around$4 billion. The transaction has been okayed by CPA:16 Global’s board, upon the unanimous recommendation and approval of a Special Committee comprised of its independent directors. The merger must still be approved by stockholders of both W. P. Carey and CPA:16 Global.

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WPC

Syntroleum Corp. (NASDAQ:SYNM): Current price $6.41

Syntroleum said that its board has retained Piper Jaffray & Co. for exploring strategic alternatives, so as to enhance shareholder value. This move was prompted by unsolicited offers coming from third parties connected with a potential sale of the firm, its assets, its intellectual property, or a combination thereof. Piper Jaffray is presently helping the company examine these alternatives, and is actively contacting additional parties as part of the process. However, the firm said Friday that there can be no assurances as to whether any one strategic alternative will be recommended by the board or undertaken — or, if so, upon which terms and conditions.

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SYNM

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