Benzinga's M&A Chatter for Thursday June 13, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday June 13, 2013:
Gannett to Acquire Belo for $13.75/Share in Cash
Gannett (NYSE: GCI) and Belo Corp. (NYSE: BLC) announced Thursday that they have entered into an agreement under which Gannett will acquire all outstanding shares of Belo for $13.75 per share in cash, or approximately $1.5 billion, plus the assumption of $715 million in existing debt for an enterprise value of approximately $2.2 billion. The transaction is expected to close by the end of 2013.
Belo Corp closed at $13.77 Thursday, a gain of 28% on 91 times average volume.
Juniper Affirms $2.25/Share to $2.30/Share Bid for Theragenics, Extends Exclusivity Period to June 18
Theragenics (NYSE: TGX) announced Thursday that Juniper Investment Company has reaffirmed its offer to acquire all of the Company's outstanding common stock for $2.25 to $2.30 per share in cash. The parties have agreed to extend the exclusivity period until 5:00 PM ET on June 18, 2013.
Theragenics closed at $2.04 Thursday, a gain of $0.01 on average volume.
Reporting Strategic Hotels Hires Eastdil to Evaluate Sale
Shares of Strategic Hotels & Resorts (NYSE: BEE) surged higher Thursday on a Reuters report that the company has hired Eastdil as an advisor to explore a possible sale.
Strategic Hotels is a REIT which has ownership interests in 18 properties in the United States, Mexico and Europe. Bill Gates' Cascade Investment is a BEE shareholder.
Strategic Hotels & Resorts closed at $8.44 Thursday, a gain of 9.5% on 3 times average volume.
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