After months of ‘will they or won’t they’ and having its stock whipsawed as a result of buyout rumors, Ntelos (NTLS) announced that it would be acquired by fellow Mid-Atlantic region focused operator Shenandoah Telecommunications (SHEN). Shentel, as it is known, is paying $640m for the company, much of it in the form of assumed debt. NTLS shareholders… Read More »
Vornado Realty Trust (VNO) completed the spinoff of its strip mall business, Urban Edge Properties, after the close yesterday. As a reminder, Vornado shareholders should have received 1 share of Urban Edge for every 2 shares of VNO owned. Vornado is currently a member of the S&P 500 index and will remain so post spinoff. Urban Edge, which… Read More »
With both the DOJ and EU regulatory body blessing the transaction, Google’s (GOOG) purchase of spinoff Motorola Mobility (MMI) is finally close to fruition. No small feat given the recent failures of some other large deals such as ATT’s (T) takeout of T-Mobile and the NYX/Deutsche Boerse combo. Motorola’s hefty patent portfolio appears to have been the impetus… Read More »
ITT’s(ITT) long awaited spinoffs, Xylem(XYL) and Exelis (XLS) are set to be distributed to shareholders on 10/31. Standard & Poor has announced that Xylem will take ITT’s place in the S&P 500 index. Both Exelis and ITT will join the S&P MidCap 400, replacing Eastman Kodak(EK) and Kindred Healthcare(KND). Lumos Holdings, being spun out of NTELOS(NTLS) on the… Read More »
Avoid trading on certain days? Superstitious at all? Management at Ntelos Holding (NTLS) certainly are not as the company plans on separating its wireline and wireless businesses this coming Halloween (October 31st). Maybe it was just time to close the transaction after first announcing it last December. For those who are unclear about the differences between the two… Read More »