Benzinga's Weekend M&A Chatter
The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday October 18 through Sunday October 20, 2013:
Crown Castle Acquires Rights to 9,700 AT&T Towers for $4.85B in Cash
Crown Castle (NYSE: CCI) announced Sunday that it has agreed to acquire the rights to approximately 9,700 AT&T (NYSE: T) towers for $4.85 billion in cash. The deal is expected to close in the Q4 2013.
Crown Castle closed Friday at $75.96, a loss of 1%.
NRG Energy to Acquire Edison Mission Energy for $2.635B
NRG Energy (NYSE: NRG) has agreed to acquire substantially all of the assets of EME, for an aggregate purchase price of $2,635 million. Approximately $350 million of the purchase price will be paid in the form of 12.7 million shares of NRG common stock. The transaction is expected to close in Q1 2014.
NRG Energy closed Friday at $29.30, a gain of almost 5%.
Sources Say Disney's Local ABC TV Stations are Not for Sale
Fox Business News reported Friday that Disney (NYSE: DIS) was not looking to sell its local ABC television stations, according to sources. The New York Post reported late Thursday that Disney was going to hire an investment bank to assist in the sale of its 8 O&O stations.
Disney closed at $67.15 Friday, a gain of 1%.
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