Markets & Finance

Abbey National Sells Lending Unit to GE

GE Consumer Finance, a unit of General Electric (GE), agrees to acquire the First National secured and unsecured lending business from Britain's Abbey National plc (ANBA) for $1.39 billion (or GBP 848 million). (2/4)

Perry Ellis International (PERY) agrees to acquire Salant Corp for $91 million. Salant is the company's largest licensee of Perry Ellis branded apparel and had estimated 2002 sales of about $250 million. (2/4)

Plains Exploration & Production (PXP) agreed to buy 3TEC Energy (TTEN) for $8.50 per share, plus 0.85 PXP share for each TTEN share. The value of the deal is about $332 million, plus the assumption of around $100 million of 3TEC debt. (2/3)

Nobel Learning (NLCI) ends merger pact with Socrates Acquisition Corp. On Nov. 14, Socrates Acquisition advised Nobel Learning that it wouldn't be able to finance the acquisition of the company at $7.75 a share. (2/3)

Krispy Kreme Doughnuts (KKD) agrees to buy bakery chain operator Montana Mills (MMX) for about $40.4 million. Terms: 0.1501 KKD share for each MMX share. (1/24)

United Community Banks (UCBI) agrees to acquire First Georgia Holding (FGHC) in a deal valued at $43 million. (1/23)

Toyota's Hydrogen Man

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