M&A Review: Sinclair Buys 6 STATIONS, OCZ Technology POPS
Here are Thursday’s top mergers and acquisitions:
Sinclair Broadcast Group (NASDAQ:SBGI) acquires six television stations owned by Newport Television, in a deal that amounts to $412.5 million, and should close by the end of 2012. As a group, the stations can be accessed by some 3 percent of households in the United States.
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Shares of OCZ Technology Group, Inc. (NASDAQ:OCZ) gain a fourth of their value, on word that Seagate Technology (NASDAQ:STX) is considering buying the firm, while other suitors are said to be present. Acquiring OCZ would boost Seagate’s position in the solid-state drive market, as the drives steadily take market share from other hard drives. Rivals of OCZ shares also moving up include Fusion-io, Inc. (NYSE:FIO), which also is the subject of acquisition chatter, along with STEC, Inc. (NASDAQ:STEC).
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