4 Merger and Acquisitions Stock Stories for Midweek Appraisal

Sprint Nextel Corporation (NYSE:S): Current price $7.25

Jumping through one of the largest remaining hoops in its proposed $20.1 billion acquisition of Sprint Nextel, SoftBank of Japan has reached a tentative arrangement to obtain national security clearance for its bid. To get through the review by a government panel, both buyer and purchase target agreed to several concessions, according to knowledgeable sources on Tuesday, who specified that the companies will allow the United States government veto power over a director on the Sprint’s new board, who would be the member responsible for overseeing compliance with national security. However, now with the panel’s decision, SoftBank sees only two major remaining hurdles. The Federal Communications Commission will soon get back to reviewing the Sprint deal, which is a process expected to finish in about a week. That regulator halted its work earlier in 2013 at the request of the Justice Department.

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S

NorthWestern Corporation (NYSE: NWE): Current price $40.80

NorthWestern will acquire the operating and non-operating natural gas production interests in Bear Paw Basin in Montana from Devon Energy Production Company. This transaction also includes Devon’s 82-percent stake in the Havre Pipeline Company. The buyer will be obliged to obtain a regulatory waiver so as to purchase the Havre Pipeline Company, a necessary step in completing the deal, which should close in 2013, given the customary approvals.

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NWE

Astronics Corporation (NASDAQ:ATRO): Current price $35.39

On Wednesday, the supplier of advanced technologies for the world aerospace and defense industries, will buy the outstanding shares of PECO for about $136 million in cash. The acquisition should close in late June, and is subject to certain conditions, among which is a review under the Hart-Scott-Rodino Antitrust Improvements Act and the successful arrangement of debt financing by Astronics.

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ATRO

Delhaize Group (NYSE: DEG): Current price $64.84

The Belgian international food retailer has reached an accord with Bi-Lo Holdings on the sale of Sweetbay, Harveys, and Reid’s. Delhaize Group reached an agreement with BI-LO to sell the operations at a price of $265 million in cash. Through the terms, Bi-Lo Holdings will also purchase leases for 10 prior Sweetbay  locations, with Delhaize retaining Sweetbay’s distribution center. Last year, the 165 stores included in the purchase brought revenues of around $1.8 billion.

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DEG

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