Notable Mergers and Acquisitions of the Day 12/20 [(T) (PBH)/(GSK) (AAPL)]

• AT&T Inc. (NYSE: T) said today that after a thorough review of options it has agreed with Deutsche Telekom AG to end its bid to acquire T-Mobile USA, which began in March of this year.
  
  The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry. It is one of the most fiercely competitive industries in the world, with a mounting need for more spectrum that has not diminished and must be addressed immediately. The AT&T and T-Mobile USA combination would have offered an interim solution to this spectrum shortage. In the absence of such steps, customers will be harmed and needed investment will be stifled.
  
  
  To reflect the break-up considerations due Deutsche Telekom, AT&T will recognize a pretax accounting charge of $4 billion in the 4th quarter of 2011. Additionally, AT&T will enter a mutually beneficial roaming agreement with Deutsche Telekom.
  
  
• Prestige Brands Holdings, Inc. (NYSE: PBH) has signed a definitive agreements with Glaxo (NYSE: GSK) to acquire 17 over-the-counter pharmaceutical brands sold in North America for a total of $660 million in cash. The transactions are expected to be completed in the first half of calendar year 2012 subject to customary legal and regulatory closing conditions, including clearance under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as applicable, and the Company closing on its committed financing for the acquisitions.
  
  Among the brands the Company agreed to acquire are the BC, Goody's, and Ecotrin brands of pain relievers; Beano, Gaviscon, Phazyme, Tagamet and Fiber Choice GI brands; and the Sominex sleep aid brand.
  
  Sawaya Segalas & Co., Inc. LLC is acting as exclusive financial advisor to Prestige in these transactions.
  
  
• Reports/rumors Tuesday suggest Apple (Nasdaq: AAPL) is making a go for flash storage maker Anobit in a deal valued around $500 million.
  
  According to Israel's Calcalist financial daily newspaper, the deal is already finalized and management is making preparations to announce the news.
  
  Apple will also be building a research and development center in Israel, the first outside of the U.S.
  
  Anobit's flash drive chip is already being used in several Apple devices like the iPad, iPod, and MacBook Air. New chips out of Anobit may also be able to double memory volume in iPads and MacBooks.

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