M&A Recap: Time Warner Invests MORE in Central European Media, Sonus BUYS Network Equipment Technologies
Time Warner (NYSE:TWX) boosts its investment in Central European Media Enterprises to 40 percent, by purchasing 9.9 million shares for $89 million, giving TWX greater say over CME’s 31 TV channels in Central and Eastern Europe.
Sonus Networks (NASDAQ:SONS) purchases Network Equipment Technologies (NASDAQ:NWK) for approximately $42 million, in an arrangement that is intended to increase its array of real-time communication products. The transaction values NWK at $1.35 per share, which represents a 14 percent windfall to its Monday close.
Server appliance supplier Network Engines (NASDAQ:NEI) is acquired by private equity Unicom Systems for $63.2 million, or $1.45 a share, in cash. The announcement earlier in 2012 that top customer EMC is orienting away from NEI products brought shares of the latter tumbling down; the present transaction’s price brings an 85 percent premium to the company’s Monday close. Shares are currently halted.
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