4 Merger and Acquisitions Stock Stories for TGIF
AT&T (NYSE:T): Current price $34.01
On Friday, AT&T said in an 8-K that it will purchase spectrum in the 700 MHz B band from Verizon Wireless at $1.9 billion in cash along with a contribution of Advanced Wireless Services spectrum licenses in five markets. The 700 MHz licenses cover 42 million people in 18 states.
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Compuware Corporation (NASDAQ:CPWR) Current price $11.43
On Friday, the company said that its board finished its comprehensive review of the firm’s alternatives and okayed an action plan through which to realize the inherent value of Compuware for its shareholders. In addition, the board unanimously decided that Elliott Management Corporation’s proposal to purchase all outstanding shares of Compuware at $11 per share significantly undervalues the firm and is thus not in the best interest of shareholders.
Cisco Systems (NASDAQ:CSCO): Current price $21.21
Cisco has acquired an approximate 1 percent interest in the software developer Parallels, according to Reuters. The latter says that it expects dividend payouts, an initial public offering, and mergers and acquisitions.
Vornado Realty Trust (NYSE:VNO) Current price $85.14
The REIT said Friday that it has completed the previously announced divestiture of the Green Acres Mall, Valley Stream, Long Island, at a price of $500 million, with net proceeds from the sale at roughly $185 million after repaying the existing loan and closing costs. The financial statement gain is around $205 million and the tax gain is about $304 million, and amount which has been deferred as part of a like-kind exchange.
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