Notable Mergers and Acquisitions of the Day 4/2 (NCC/KEY, HAIN, ALSK)

April 2, 2008 9:51 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:


  • According to reports from the Wall Street Journal, National City (NYSE: NCC), which recently confirmed it is reviewing strategic alternatives, is considering a plan to sell itself to hometown rival KeyCorp (NYSE: KEY).

    The report said the deal could be complicated and is far from certain to take place. If a deal were worked out, it is expected that private-equity Kohlberg Kravis Roberts could put some money in.

  • The Hain Celestial Group, Inc. (Nasdaq: HAIN) today announced the acquisition of Daily Bread, Ltd., a London-based producer of branded fresh prepared foods for the foodservice channel in the United Kingdom.

    Daily Bread generated approximately 12 million pounds Sterling (or $24 million) in continuing sales in its last fiscal year. Terms of the acquisition, which closed yesterday, were not disclosed. The transaction is expected to be accretive to Hain Celestial's earnings during its fiscal year 2009.

  • Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) entered into an agreement to purchase Crest Communications Corporation, owner and operator of the North Star submarine fiber-optic cable, one of three existing submarine fibers connecting Alaska to the continental United States.

    ACS is acquiring Crest, free of debt, for a cash consideration of approximately $70 million.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions


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Stocks Mentioned

ALSK 7.03

-0.24 -3.30%
Volume: 301,024
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HAIN 15.64

-0.51 -3.16%
Volume: 175,560
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KEY 5.12

-0.04 -0.78%
Volume: 30,278,507
Track KEY

NCC 1.81

+0.00 +0.00%
Volume: 106,343,355
Track NCC


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