Coach USA signs agreement to buy 10 motorcoach firms

Article Abstract:

Coach USA Inc. continues to pursue a strategy of growth through acquisition in its recent agreement to acquire 10 motorcoach companies with combined annual revenue of $125 million. The companies are Mini Coach, Valen Transportation, Piedmont Coach Lines, Gray Lines Tours, Tucker Transportation, Airport Connection, Tippett Travel, Syracuse/Oswego Coach Lines,, Olympia Trails, ShortLine, and Gray Line New York. Coach USA will have a 5.7% market share and increase its fleet by about 500 vehicles to over 4,300 buses in the deal making it the $14 billion sightseeing and charter-bus industry's largest fleet.

Comment:

Coach USA aquires 10 motorcoach companies with combined annual revenue of $125 million

New capacity, new plant construction, Transit and Ground Passenger Transportation, Local & Intercity Transit, Local Transit NEC, Other Urban Transit Systems, Public transportation, Local transit, Coach USA Inc., Valen Transportation and Tours, Gray Line New York Tours Inc.

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Clear Channel Communications wins bidding for Jacor Communications Inc

Article Abstract:

Jacor Communications Inc., which owns 230 radio stations, will be acquired by Clear Channel Communications Inc. in a deal that includes stock valued at about $3.39 billion and the assumption of $1.23 billion in debt. Company executives at Clear Channel, which is a radio broadcasting and billboard company based in San Antonio, Texas, have said that the acquisition will give the company a total of 454 radio stations in 101 domestic markets, making it the third largest radio company in the country.

Comment:

Will acquire Jacor Communications for stock valued at about $3.39 bil and the assumption of $1.23 bil in debt

Radio Broadcasting, Communications, Broadcasting and Telecommunications, Radio, Telecommunications industry, Radio broadcasting industry, Clear Channel Communications Inc., Jacor Communications Inc.

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Gart Sports makes unsolicited bid to buy 70% of Sports Authority

Article Abstract:

Gart Sports Co. has made an unsolicited offer to purchase a 70% share of Sports Authority for approximately $442.4 million. The offer seems to be approximately 20% higher per share than what Venator Group's bid. Venator had reached an agreement to pay 0.8 share for every one of Sports Authority's 31.6 million shares. Sports Authority will have to pay Venator an $8.5 million break-up fee if their deal collapses.

Comment:

Gart Sports Co. makes an unsolicited offer to purchase a 70% share of Sports Authority for approximately $442.4 million

Sporting Goods, Bicycle Stores, Sporting Goods Stores, Bicycle stores, Sports Authority Inc., Gart Sports Co.

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