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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday June 27, 2013:
Report New York Times to Sell Boston Globe for $100MThe Rumor:
Bids for the
New York TimesNYT-owned
Boston Globe are reportedly in the $100M range, according to the
NY Post. The
Times paid $1.1B for the
Globe in 1993 in a mostly stock transaction.
The New York Times closed at $10.88 Thursday, a gain of $0.03 on average volume.
Hearing Renewed Chatter of Shell Interest in Range ResourcesThe Rumor:
Shares of Range Resources
RRC surged higher early Thursday on renewed chatter of a possible bid by Royal Dutch Shell
. Shell and Exxon Mobil
XOM have been mentioned previously as potential buyers of Range Resources.
A spokesperson for Royal Dutch Shell declined comment on the rumor. A Range Resources spokesperson was not available for comment.
Range Resources closed at $79.94 Thursday, a gain of $0.39 on 1.5 times average volume.
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:
Shares of Time Warner Cable
TWC spiked higher in afternoon trading Thursday on a
Bloomberg report that Liberty Media's
LMCA John Malone is exploring the possibility of Charter Communications
CHTR acquiring TWC. Liberty owns 27% of Charter.
Spokespersons for Liberty, Charter and Time Warner Cable were not available for comment. A spokesperson for Cablevision
CVC, whose shares rose sharply on reports that it was also a target of Charter, declined comment on the
Bloomberg report.
Time Warner Cable closed at $108.22 Thursday, a gain of 4.5% on 3 times average volume. Cablevision closed at $16.25 Thursday, a gain of 5.5% on 3.5 times average volume.
Adobe to Acquire Neolane for $600M in CashThe Deal:
Adobe Systems
ADBE announced Thursday it has agreed to acquire privately held Neolane for approximately $600 million in cash. Neolane integrates online and offline marketing data from across an enterprise. The deal is expected to close in July.
Adobe Systems closed at $45.93 Thursday, a gain of $0.25 on average volume.
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