Notable Mergers and Acquisitions of the Day 12/02: (VZ)/(CMCSA)/(TWC) (NICE) (OKE)/(CEG)

• SpectrumCo, LLC, a joint venture between Comcast Corporation (Nasdaq: CMCSA), Time Warner Cable (NYSE: TWC), and Bright House Networks, today announced it has entered into an agreement pursuant to which Verizon Wireless (NYSE: VZ) will acquire its 122 Advanced Wireless Services spectrum licenses covering 259 million POPs for $3.6 billion. Comcast owns 63.6% of SpectrumCo and will receive approximately $2.3 billion from the sale. Time Warner Cable owns 31.2% of SpectrumCo and will receive approximately $1.1 billion. Bright House Networks owns 5.3% of SpectrumCo and will receive approximately $189 million.
  
  SpectrumCo's sale and transfer of its advanced wireless spectrum to Verizon Wireless is subject to approval by the Federal Communications Commission and review under the Hart-Scott Rodino Act and other customary conditions.
  
  
• NICE (Nasdaq: NICE) today announced that it has entered an agreement to acquire Merced Systems.
  
  Under the terms of the agreement, NICE will acquire Merced for a total consideration of approximately $150 million, net of cash acquired. Additionally, NICE will pay Merced up to $20 million in cash subject to Merced meeting certain performance targets. Subject to certain conditions and satisfaction of terms, the transaction is scheduled to close by the middle of the first quarter of 2012.
  
  The company expects Merced to add approximately $55 million to 2012 Non-GAAP revenues with a greater portion of the revenues to occur in the fourth quarter, and to add approximately $0.10 per share to fully diluted 2012 Non-GAAP EPS. NICE expects the acquisition to be $0.02 - $0.03 dilutive to fully diluted Non-GAAP EPS for the first quarter of 2012.
  
  Merced is a service and sales performance management solution provider.
  
  
• After the market closed Thursday, ONEOK, Inc. (NYSE: OKE) announced that it has entered into a definitive agreement to sell its subsidiary, ONEOK Energy Marketing Company, to Constellation Energy Group, Inc. (NYSE: CEG) for $22.5 million plus working capital.
  
  ONEOK Energy Marketing Company provides physical and financial natural gas products and services to retail customers primarily located in the Mid-Continent and Texas. The business is accounted for in the ONEOK natural gas distribution segment.
  
  The transaction is expected to close in Q112.

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