CP&L agrees to pay 4.97 billion euros for Florida Progress

Article Abstract:

Carolina Power & Light Co. (CP&L) has reached an agreement to acquire Florida Progress Corp. for $5.3 billion (4.97 billion euros). This comes out to $54 per share. Under the deal, CP&L will assume responsibility for debt worth $2.7 billion. The transaction will be a cash and share deal. The deal will double CP&L's size. The company will also have $6.7 billion in combined revenues as a result of the acquisition.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Electric, Gas & Water Utilities, Utilities, Abstract, Energy industries, Energy industry, Public utilities, Florida Progress Corp., Carolina Power and Light Co.

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Oak Hill agrees to buy 48.5% of American Skiing

Article Abstract:

Oak Hill Capital Partners LP has reached an agreement to acquire American Skiing Co. for $150 million (147.4 million euros). Oak Hill is an investment fund under the control of financier Robert M. Bass. The deal involves the exchange of convertible preferred shares for a 48.5% stake in American Skiing. The financially-struggling American Skiing operates some of the most famous ski resorts in the US.

Comment:

Oak Hill Capital Partners to acquire American Skiing for $150 million (147.4 million euros)

Open-End Investment Funds, Investment Funds & Trusts, Skiing Facilities, Ski Areas, Financial services industry, Financial services, Sports facilities, American Skiing Co., Oak Hill Capital Partners L.P.

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Echostar plans to launch 32 billion bid for Hughes

Article Abstract:

Echostar Communications Corp. is intending to to make an unsolicited $32 billion (Euro36.2 billion) stock-swap offer for Hughes Electronics Corp., the owner of DirecTV.

Cable and other pay TV services, Direct Broadcast Satellite TV Providers, Cable and Other Program Distribution, EchoStar Communications Corp., DISH, Direct broadcast satellite television industry, Satellite television, Satellite television industry, DIRECTV Inc.

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