Notable Mergers and Acquisitions of the Day 12/20: RTN/APSG, T/QCOM, ELNK, TLM/SSL
Down)- Raytheon Company (NYSE: RTN) today announced that it has signed a definitive acquisition agreement with Applied Signal Technology, Inc. (Nasdaq: APSG) whereby Raytheon will acquire all outstanding Applied Signal common shares for $38 per share, or a total consideration of $490 million.
The transaction is expected to close in Q111.
The transaction is not expected to have a material effect on Raytheon's earnings.
- AT&T (NYSE: T) announced that they have entered into an agreement for the $1.925 billion acquisition of spectrum licenses in the Lower 700 MHz frequency band from Qualcomm (Nasdaq: QCOM).
Qualcomm currently uses the licenses to support the service business of FLO TV Incorporated, a wholly owned subsidiary of Qualcomm, and the sale follows Qualcomm's previously announced plan to evaluate strategic options for the FLO TV business. Qualcomm expects that the FLO TV business and network will be shut down in March 2011.
The spectrum covers 300 million people in the U.S.
The transaction is expected to close in H211.
- EarthLink, Inc. (Nasdaq: ELNK) announced Monday that it has agreed to acquire One Communication Corp for $370 million, which includes payment of approximately $285 million of One Comm net debt.
The company said that the acquisition will provide it with an strong IP footprint in the Northeast, Midwest, and Mid Atlantic regions. THe deal has been approved by the Boards of both companies.
- Talisman Energy Inc. (NYSE: TLM) announced that they have reached an agreement with Sasol Ltd (NYSE: SSL) to develop the Farrell Creek assets in Talisman's Montney shale play in northeastern British Columbia.
Under the agreement, Talisman will sell a 50% working interest in its Farrell Creek assets to Sasol for a total consideration of CDN $ 1.05 billion.
Goldman, Sachs & Co. and Jefferies & Company acted as advisors for Talisman on this transaction.
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