Seeking Alpha
Profile| Send Message|
( followers)  

Lighting maker Genlyte (GLYT) agreed to a buyout offer of $95.50 per share from Philips (NYSE:PHG), in a $2.7 billion deal that is expected to close in the first quarter of 2008.

Genesco (NYSE:GCO) received a federal subpoena for records related to buyout negotiations with The Finish Line (NASDAQ:FINL) due to a lawsuit filed by UBS (NYSE:UBS) attempting to nullify an agreement to finance the buyout of Genesco. Genesco stated that they will continue to attempt to force Finish Line to complete the merger.

M&T Bank (NYSE:MTB) stated that they have received all approvals required to complete their buyout of Partners Trust (PRTR), and that they expect the deal to close by November 30.

Navteq (NVT) announced that they will hold a special meeting of shareholders to vote on the proposed merger with Nokia (NYSE:NOK).

TierOne (TONE) issued a release that said Institutional Shareholder Services has recommended that its shareholders approve the proposed acquisition by commercial lender CapitalSource (NYSE:CSE) for $652 million in cash and stock.

Sears (NASDAQ:SHLD) made an offer of $6.75 per share for Restoration Hardware (RSTO), which is less than one percent higher than the $6.70 per share buyout Restoration Hardware agreed to earlier this month.

Source: November 26th Merger Arbitrage Activity