Markets & Finance

Capital One to Buy North Fork for $14.6 billion


Capital One Financial (COF) agrees to acquire North Fork Bancorp (NFB) in a deal valued at approximately $14.6 billion in stock, cash, or $31.18 per North Fork Bancorp share.

McClatchy (MNI) is to acquire Knight Ridder (KRI) in a $6.5 billion deal, including about $2.0 billion in assumed debt at closing, at $40.00 cash, and a fixed fraction of 0.5118 McClatchy shares per Knight Ridder shares.

Watson Pharmaceuticals (WPI) is to acquire Andrx (ADRX) in a $1.9 billion deal, at $25 cash per Andrx share.

Pinnacle Entertainment (PNK) is in advanced talks to buy Aztar (AZR) for more than $1 billion, according to the Wall Street Journal.

Anteon International (ANT) and General Dynamics (GD) received a request from the Department of Justice for additional information in connection with the previously announced proposed acquisition of Anteon by General Dynamics. Anteon still expects the acquisition to close by the end of the second quarter.

Vodafone Group (VOD)'s former CEO, Sir Christopher Gent, announced he is stepping down as honorary life president, saying he wanted to avoid controversy following media allegations that he was meddling with Vodafone management, according to the Wall Street Journal.

Schering (SHR) European MarketScope reports Schering rejects Germany's Merck KGaA's unsolicited offer which valued Schering at EUR 15 billion, or EUR 77 per ordinary share.

NYSE Group (NYX) the London Stock Exchange and the Nasdaq may resume talks about the takeover of the LSE by Nasdaq as the NYSE Group weighs a bid for the London exchange, according to the Wall Street Journal.

Halliburton (HAL) in a Securities and Exchange Commission filing, the company says it may sell off some pieces of its KBR engineering and construction unit, but would still spin off interest in the rest of unit in an Initial Public Offering.

ABM Industries (ABM) expects about 7 cents first quarter EPS from continuing operations and 85 cents to 95 cents in fiscal year 2006. It cites future losses from security service business and second quarter professional fees associated with ongoing independent investigation of accounting errors and related controls.

GMH Communities (GCT) postpones release of its fourth quarter 2005 results and expects 2005 Funds From Operation will not exceed 72 cents per share while earnings per share EPS will not exceed 25 cents. The CEO expresses he is considering making an offer to buy the company.

CarMax (KMX) sees better-than-expected fourth quarter EPS of 37 cents to 39 cents on 3% lower same-store used unit sales.

Vail Resorts (MTN) posts $1.12 vs. 89 cents second quarter EPS (including stock-based comp expense) on an 8.8% revenue rise. It sets a three million share buyback.

Tutogen Medical (TTG) announces that the Chief Executive Officer has been contacted by representatives of Zimmer Holdings (ZMH) to enter into talks on a range of potential strategic transactions, which could include further investments by Zimmer to buy some or all of the company.


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