Mergers & Acquisitions Report: FMC Will BUY Pure Energy Services, Verizon Says 64 Firms Want SPECTRUM
These were Monday’s top stories:
FMC Technologies, Inc. (NYSE:FTI) will purchase the Canadian oilfield services firm Pure Energy Services (PUEYF.PK) in a cash transaction of $285 million. The per-share price of C$11 values Pure at a windfall of 39 percent over its Friday close in Toronto. The buyer expects the acquisition to help it grow its services business.
Verizon Wireless (NYSE:VZ) says that as many as 64 firms are interested in buying the 700 MHz. spectrum it intends to sell upon the Federal Communication Commission’s anticipated approval. The new estimated number is up substantially from the 36 reported in May. Among the companies showing interest are AT&T Inc. (NYSE:T) and United States Celluar Corporation (NYSE:USM), even if T-Mobile and others have questioned the value of the spectrum, which is said to be capable of interference with a TV channel.
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