Notable Mergers and Acquisitions of the Day 4/28 (WWY/BRK.A, CAL/UAUA, PVH)
More News related to BRK.A
- Buffett's Berkshire To Sell 9.6M Share Stake in Union Pacific (UNP) and 1.9M Share Stake In Norfolk Southern (NSC)
- Top 10 News Items 11/02-11/06: Unemployment Rate Now Over 10%, Fed to Keep Rates 'Exceptionally Low' for 'Extended Period', Buffett Does the Biggest Deal of His Life
- S&P May Cut Buffett's Berkshire Hathaway (BRK.a) Rating By As Much As Two Notches
- Berkshire Hathaway's AAA rating may be cut by S&P
- Unusual 11 Mid-Day Movers 11/03: LNY, BNI, DDRX, BDK Higher; CKEC, TPGI, CHTP, CMLS Lower
More News related to CAL
- Continental Airlines Retains Winstar Interactive to Offer Advertising on Continental.com
- UATP Signs Deal With NxSystems, Inc.
- Continental Airlines to Auction Trip for Two to Eight Wonders of the World
- Continental Airlines to Relocate Airport Operations at Paris/Charles De Gaulle and Barcelona
- Caledonia Mining Corporation: Blanket Mine Awarded Exporter of the Year
More News related to PVH
- Phillips-Van Heusen Corporation to Host Conference Call to Discuss Third Quarter 2009 Earnings Results
- Phillips-Van Heusen Corporation to Appear at the Morgan Stanley Global Consumer & Retail Conference on November 20, 2009
- IZOD Named Title Sponsor of IndyCar Series
- Notable Analyst Rating Changes 9/29: RL, PVH, COP, USB, BRCM, ATHN, MOV Upgraded; SNV, AZN, PD, FRP Downgraded
- Phillips-Van Heusen (PVH): Upgraded to Buy at Merrill Lynch; $54 price target
More News related to Special Reports
- After-Hours Movers 11/11: COMS, JMBA, GRRF, CTRP, UBET Higher; GMCR, PDC, BZ, ONTY, BRCD, TTEK Lower
- Metal ETFs Round-Up for 11/11: PTM, GLD, GDX, SLV Higher; GDXJ Introduced
- Trading Radar for 11/12: Wal-Mart (WMT), Blockbuster (BBI), Nordstrom (JWN), Walt Disney (DIS), Kohl's (KSS) Report
- Unusual 11 Mid-Day Movers 11/11: NCST, SMI, MSN, CHLN Higher; TONE, RHIE, CLWR, STV Lower
- Notable ETF Movers: XLF, XHM, AGQ, SGG Up; IEO, EWU, TBT Down
StreetInsider.com Notable Mergers and Acquisitions of the Day:
- Mars, Inc. announced a merger agreement with Wm. Wrigley Jr. Company (NYSE: WWY) in a transaction valued at approximately $23 billion, or $80 per share in cash.
The deal represents a 28.1% premium to Friday's close of $59.88.
Financing for the transaction will be provided by Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) , Goldman Sachs and JPMorgan. At closing, Berkshire Hathaway will make a minority equity investment in the Wrigley subsidiary.
The proposed transaction is subject to customary closing conditions, including approval by Wrigley stockholders and certain governmental and agency regulatory clearances. Both parties hope to close the transaction within six to twelve months.
- In a letter to employees, Continental Airlines (NYSE: CAL) said it will not merge.
In the letter the company said, " We want you to know that our Board of Directors met today and has unanimously supported management's recommendation that, in the current industry environment, the best course for Continental is to not merge with another airline at this time." They also said, "The Board very carefully considered all the risks and benefits of a merger with another airline, and determined that the risks of a merger at this time outweigh the potential rewards, as compared to Continental's prospects on a standalone basis."
There have been rumors Continental Airlines would merge with United Airlines (Nasdaq: UAUA).
Due to surging oil prices, airlines companies have been forced to look at consolidation options.
- Phillips-Van Heusen Corporation (NYSE: PVH) has acquired through a subsidiary certain assets of privately-held Mulberry Thai Silks, Inc., a manufacturer and distributor of neckwear in the United States.
The cash purchase price was approximately $10 million, subject to adjustment.
To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions
Related Categories
Special ReportsStocks Mentioned
+200.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
