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Tuesday started with plenty of M&A activity, and at Benzinga, we are all about keeping our readers updated. So, here's a brief recap of what's going on:
Shares of Charter Communications, Inc.
CHTR are up about 8 percent, after news transcended about the company acquiring cable operator Bright House Networks LLC for $10.4 billion in cash and stock. Following the purchase of the sixth-largest cable operator in the U.S., serving about 2 million customers, Charter (the fourth-largest) will become the second-largest cable operator in the country, only trailing Comcast Corporation
CMCSACMCSK.
In other news, shares of Endurance Specialty Holdings Ltd.
ENH are down more than 4 percent on Tuesday morning, as the Bermuda insurer said it had reached an agreement to buy property and casualty reinsurer Montpelier Re Holdings Ltd.
MRH for $1.83 billion in cash and stock.
According to Endurance, the merger would combine two companies that wrote gross premiums for a total of $3.6 billion in 2014.
Shares of Montpelier are slightly up on Tuesday.
Finally, CBRE Group Inc
CBG is surging –approximately 5.5 percent on Tuesday morning- after it announced that it would purchase the Global WorkPlace Solutions (GWS) business of Johnson Controls Inc
JCI for $1.475 billion in cash.
According to a MarketWatch article, "together, CBRE and GWS will manage nearly 5 billion sq. ft. of real estate and corporate facilities globally, including 2.3 billion sq. ft. in the Americas, 1.2 billion sq. ft. in Europe, the Middle East & Africa and 1.4 billion sq. ft. in Asia Pacific."
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