Notable Mergers and Acquisitions of the Day 8/7 (MTZ, NFS, SHEN)
StreetInsider.com Notable Mergers and Acquisitions of the Day:
- MasTec, Inc. (NYSE: MTZ) announced that it has acquired the assets and liabilities of Nsoro, LLC, a private company specializing in wireless infrastructure management and construction. MasTec paid $17.5 million in cash plus an earn out and assumed debt related to a working capital line. Nsoro is headquartered in Atlanta, Georgia, and had revenue of approximately $70 million in 2007.
- Nationwide Mutual Insurance Company and Nationwide Financial Services, Inc. (NYSE: NFS) entered into a definitive agreement for Nationwide to acquire all of the outstanding publicly held Class A common stock of NFS for $52.25 per share in cash.
Nationwide currently owns all of the outstanding NFS Class B common stock, which represents 66.3% of the equity ownership and 95.2% of the combined voting power of the shareholders of NFS. The transaction is valued at approximately $2.4 billion and is expected to close by the end of 2008 or early in 2009, subject to shareholder and regulatory approval.
- Shenandoah Telecommunications Company (Nasdaq: SHEN) announced that it has signed an asset purchase agreement to acquire certain cable assets serving customers in Virginia and West Virginia from Rapid Communications, LLC. The purchase includes approximately 17,650 customers located in 50 franchise areas primarily clustered around Covington, Virginia; Summersville, West Virginia; and Weston, West Virginia.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+0.36
-0.21Sign 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!
