Markets & Finance

EBay Agrees to Acquire PayPal

PayPal (PYPL) agrees to be acquired by eBay (EBAY) in a stock deal valued at about $1.5 billion. Terms: 0.39 EBAY share per PYPL share. (7/8)

Level 3 Communications (LVLT) inks pact to sell $500 million aggregate principal amount of its 9% jr. convertible subordinated notes to three institutions, including Longleaf Partners Funds, Berkshire Hathaway (BRKA), and Legg Mason. (7/8) (CCBL) says it will acquire Philips Broadband Networks from Royal Philips Electronics for EUR 80 million in cash, plus the assumption of certain liabilities. (7/8)

Berkshire Hathaway will to buy Garan (GAN) for $60 per share. (7/3)

Neotherapeutics (NEOT) hires an investment banker to help it seek out strategic alternatives, including a sale or merger of the company or any of its divisions. (7/2)

The Aging of Abercrombie & Fitch
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