Mergers and Acquisitions Recap: Lust for London Metal, Spectrum Deal
CME Group (NASDAQ:CME) and Intercontinental Exchange (NYSE:ICE) remain in the running to acquire the London Metal Exchange, but NYSE Euronext (NYSE:NYX) is no longer, after its reported bid of £800 million was rejected as insufficient.
AT&T (NYSE:T) and U.S. Cellular (NYSE:USM) are purchasing spectrum from cable operator Cox, for $304 million; the former’s share will cover 8 states, and the latter’s 5. AT&T is currently seeking new airwave buys following the failure of the T-Mobile deal, alongside the spectrum transfer that was part of AT&T’s breakup fee. The that end, the firm is said to have been in discussions to acquire Leap Wireless (NASDAQ:LEAP), and possibly an offer for Dish Network (NASDAQ:DISH) as well.
Investing Insights: NVIDIA Strikes Potentially Lucrative Deal With This Gaming Company.
A possible initial public offering by Coty this summer, which would value it in a range between $6 billion and $7 billion, could well explain the withdrawal of its bid to buy Avon (NYSE:AVP). CNBC reports that Coty has chosen underwriters for the IPO, which dashes rumors (hopes?) that its bid pullback for Avon was just a negotiating tactic.
German utility E.ON (EONGY.PK) divests its natural gas transmission grid to a consortium led by the Australian bank Macquarie (MQBKY.PK) for the price of €3.2 billion, or $4.07billion, in a move designed to reduce its debt amid a weak domestic electricity market. For its part, the buyer will obtain a network that comprises approximately 70 percent of Germany’s total annual shipping volume.
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