Carlyle Group also closed its $2.4 billion purchase of Sequa Corp (SQA.A). Shareholders received $175 per share in cash in the deal.
Sirius Satellite Radio (SIRI) announced that it believes that its merger with XM Satellite Radio (XMSR) will be completed before the end of 2007. Sirius CFO David Frear stated that the Department of Justice has "little left to do" to complete its review of the merger. The deal still needs approval from the FCC as well before it can close.
Clear Channel (CCU) issued a press release notifying investors that it now expects the buyout of the company to be completed in the first quarter of 2008, not the fourth quarter of 2007 as originally scheduled.
Virginia Financial Group (VFGI), and FNB Corp. (OTCQB:FNBP) announced that their merger has been approved by banking regulators, and said that completion of the merger would be delayed to the first quarter of 2008 due to a decision to postpone the mailing of proxy materials until after the holidays.
AT&T (T) and Verizon (VZ) agreed to to swap wireless assets with Verizon Wireless to meet divestiture requirements for AT&T's recent $2.8 billion purchase of Dobson Communications Corp (DCEL). This swap will take place once Verizon Wireless completes its purchase of Rural Cellular Corp (RCCC), which is expected to close in the first half of 2008.