4 Merger and Acquisitions Stock Stories Making Monday Moves

AT&T Inc. (NYSE:T): Current price $35.109

AT&T will lease the rights to around 9,100 of its company-owned wireless towers to Crown Castle International Corp. with the latter also purchasing some 600 AT&T towers. In return, AT&T will receive roughly $4.85 billion in cash up-front proceeds. Through the terms of the leases, Crown Castle will obtain exclusive rights to lease and operate approximately 9,100 AT&T towers. The average term of the lease rights is around 28 years.


Dole Food Co. Inc. (NYSE:DOLE): Current price $13.72

Dole said on Friday that the proxy-advisory firm Institutional Shareholder Services Inc. has recommended that shareholders back its agreement to be purchased by Chairman and Chief Executive David H. Murdock when a special meeting of stockholders to okay the merger is held on October 31. In a report, ISS gave its recommendation to vote for the proposed transaction “in light of the meaningful premium offered to Dole’s unaffiliated shareholders.” Dole said that it expects to close the transaction on October 31 or the next day, assuming receipt of a positive shareholder vote.


NTS Inc. (NYSE:NTS): Current price $1.95

The regional supplier of integrated communications said that it has reached a definitive merger agreement with affiliates of private equity firm Tower Three Partners LLC. Once the transaction is finalized, NTS will become a privately held company. Through the terms of the merger agreement, an affiliate of Tower Three will purchase all outstanding shares of NTS common stock, other than certain shares held by Chairman, President and Chief Executive Guy Nissenson, for $2 per share in cash.


Ultra Petroleum Corp. (NYSE:UPL): Current price $20.91

On Monday, Ultra Petroleum said that it will purchase oil-producing properties lying in the Uinta Basin for $650 million. The firm expects to finance the acquisition through debt at the subsidiary and parent level, and expects the transaction to close in December, subject to closing adjustments and the usual terms and conditions, effective October 1, 2013.


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