Mergers and Acquisitions Recap: CNN and Mashable Deal, Visteon Sheds an Asset
In a move that would be its biggest purchase thus far, CNN (NYSE:TWX) expects to acquire Mashable, a website dedicated to social media stories, for around $200 million. This according to sources close to the deal.
Privately-held Gregor Technologies has been purchased by Metals USA (NYSE:MUSA) for an undisclosed amount. MUSA projects that the deal will immediately add to earnings.
Pacific Capital (NASDAQ:PCBC) is bought by bank holding company UnionBancal at a 60 percent premium over the former’s closing price on Friday. The sale goes for $46 a share, which is 160 percent of the company’s adjusted tangible book value.
Auto-parts producer Visteon’s (NYSE:VC) program to concentrate on its primary businesses, has it selling its automotive lighting business for $92 million in cash. Shares are off Monday.
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