Markets & Finance

Burlington Resources To Acquire Hunter Exploration

Natural gas company Burlington Resources (BR) says it will acquire Canada's Hunter Exploration Ltd. (HTR) for $2.1 billion, or C$53 cash per share. (10/9)

Radio broadcaster Clear Channel Communications (CCU) says it will acquire outdoor media and broadcasting company Ackerley Group (AK) in a stock deal worth about $495 million. Terms: 0.35 CCU share per AK share. (10/8)

Northrop Grumman (NOC) and Newport News Shipbuilding (NNS) will begin merger discussions this week that would currently value NNS at $72.67/share. This bid would exceed General Dynamics' (GD) bid for $2.1 billion in cash or $67.50 per share. (10/8)

AT&T Wireless Services (AWE) says it has agreed to acquire the 77% of TeleCorp PCS (TLCP) it does not already own for $2.4 billion, and assume $2.1 billion in debt, to beef up its coverage in the South and Midwest. (10/8)

Capital Bank (CBKN) says it will buy North Carolina bank First Community Financial (FCFN) in a cash and stock deal worth about $54 million. Terms: $31.12 cash, stock per FCFN/share. (10/5)

Amtran Inc (AMTR), parent of U.S. airline American Trans Air, says it is ending plans to buy back all of the company's stock after its banks cancelled financing arrangements. (10/5)

Tyco International (TYC) says it offered to buy the rest of the shares it does not already own of fiber optic cable company TyCom (TCM) for $784 million in stock. Terms: 0.2997 TYC share per TCM share. (10/4)

Aegis Realty (AER) hires Robertson Stephens as an advisor to pursue a potential sale. (10/4)

Ohio bank company National Bancshares (NBOH) says it will acquire Peoples Financial (PFFC) for about $15.2 million, or $12.25 cash/share. (10/2)

Investor group Lincoln Co. says it has withdrawn a $135 million takeover bid ($4.50 per share) for men's clothing maker Hartmarx Corp. (HMX) because HMX's board would not negotiate. (10/2)

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