Welcome to the Orbital issue of M&A Daily
Google (GOOG/GOOGL) is selling its Terra Bella satellite unit to Planet. Google is still interested in satellites, but has shifted towards outsourcing to smaller companies. Ultimately, the combined Planet-Terra Bella will be able to take nearly constant pictures of almost all of the Earth's surface from hundreds of satellites. They compete with DigitalGlobe (DGI) and Airbus (OTCPK:EADSY). Google will maintain an equity stake and access to their data, so they will still be able to see you whether you are online or offline.
Columbia Banking (NASDAQ:COLB) is buying Pacific Continental (NASDAQ:PCBK) in a $649 million stock deal. PCBK holders get 0.6430 COLB per share. Stifel (NYSE:SF) is advising the buyer. 2017 is poised to be a record year for bank consolidation. My favorite bank target? BNCCORP (OTCQX:BNCC).
The FCC and nine state PUCs have cleared the GTCR acquisition of Inteliquent (NASDAQ:IQNT).
Elsewhere on Seeking Alpha
- McDonald's For Sale
- BCE Acquires Manitoba Telecom
- Energy Transfer Saves Its Distribution
- The Ultimate Evil Corporation
Sifting the World
Disclosure: I am/we are long BNCC.
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Additional disclosure: Chris DeMuth Jr and Andrew Walker are portfolio managers at Rangeley Capital. We invest with a margin of safety by buying securities at discounts to their intrinsic value and unlocking that value through corporate events. To maximize returns for our investors, we reserve the right to make investment decisions regarding any security without notification except where notification is required by law. This post may contain affiliate links, consistent with the disclosure in such links. We manage diversified portfolios with a multi-year time horizon. Positions disclosed in articles may vary in sizing, hedges, and place within the capital structure. Disclosed ideas are related to a specific price, value, and time. If any of these attributes change, then the position might change (and probably will).
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