IntercontinentalExchange Buys NYSE Euronext, Liberty Global’s Bid Fails: Merger and Acquisitions Report
American Airlines parent AMR Corporation (AAMRQ.PK) and US Airways Group (NYSE:LCC) move nearer to a merger and a decision could emerge in January, according to inside sources. At present, negotiating teams from each party are talking about how to combine departments including personnel, compensation and severance. AMR’s board will meet on January 9th to decide as to whether to go forward with an possible announcement within days, said the sources, who also said that the talks may yet be scuttled or delayed.
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IntercontinentalExchange (NYSE:ICE) will purchase NYSE Euronext in a stock-and-cash transaction which will combine two top exchange groups, forming a premier global exchange operator diversified across markets including credit derivatives, agricultural and energy commodities, equities and equity derivatives, foreign exchange and interest rates. Through the terms, the transaction is presently valued at $33.12 per NYSE Euronext share, comprising a total of roughly $8.2 billion, calculated on ICE’s stock close on December 19th.
Liberty Global’s (NASDAQ:LBTYA) offer of €35 per share for the Belgian broadband cable firm Telenet is in jeopardy as that company’s number fourth shareholder, Norges Bank Investment Management, has turned the bid down. The latter holds a 4 percent interest in Telenet and its action now presses Liberty Global to raise its offer as it attempts to take complete control of the firm in which it already owns more than 50 percent.
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