4 Merger and Acquisition Stock Stories Not To Be Missed

US Airways Group (NYSE:LCC): Current price $16.99

AMR Corp., the parent of American Airlines, has been awarded court approval for its merger with US Airways Group as a bankruptcy judge turned down a $20 million severance arrangement for AMR Chief Executive Officer Tom Horton. United States Bankruptcy Judge Sean Lane in Manhattan okayed the merger at a hearing Wednesday while denying approval for Horton’s severance following opposition by the government, which termed the pay a “golden parachute.” lane commented that “The merger is a terrific result,” but added that approving Horton’s severance now “is just not appropriate.”

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LCC

ENI (NYSE:E): Current price $45.12

The Italian oil and gas group Eni is thinking about opening its business in Iraq up to investment by the Chinese oil firm CNPC after offering it an opportunity to acquire a stake in its bumper Mozambique gas field earlier in March, according to two sources, who went on to say that no discussions were presently under way with the Chinese group. The sources explained that  ”The idea is being examined, though we have not yet reached that point.” No comment came from Eni.

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E

 EDAC Technologies Corporation (NASDAQ:EDAC): Current price $18.51

Through an affiliate, MidOcean Partners on Thursday announced that it has submitted a proposal to the board of directors of EDAC Technologies through which to purchase all of the outstanding shares at $18.25 each in cash. The proposed bid is a 50-cents per share premium to that offered by GB Aero Engine, an affiliate of the Greenbriar Equity Group, which was announced March 18th. It also represents a 23.2 percent premium to the average close of EDAC during the 30 trading days ending March 15th, which precede the announcement of the deal with Greenbriar.

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EDAC

Clearwire Corporation (NASDAQ:CLWR): Current price $3.23

The wireless service provider reported on Wednesday that it would draw on $80 million in financing from Sprint Nextel Corporation, which is attempting to acquire it. Clearwire said that it would still continue discussions with the rival bidder Dish Network Corp but that it has not changed its recommendation in favor of the Sprint offer. In December, Sprint, already the majority owner of Clearwire, reached a deal to purchase the rest of the company at $2.97 per share, also allowing Clearwire the option to draw on $800 million in convertible debt in 10 monthly installments.

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CLWR

Don’t Miss: AA and US Airways Get the Go-Ahead for Merger.