Bell Atlantic and GTE agree on a merger

Article Abstract:

GTE Corp. and Bell Atlantic Corp. have agreed on a merger of equals in a $55 billion stock swap that will join Bell Atlantic's local and wireless telephone service with GTE's local, long-distance, wireless and Internet business. The deal, which still must be approved by government regulators, will merge GTE into Bell Atlantic in exchange for Bell shares. Industry analysts said that the merger could take up to 18 months to complete, giving the companies ample time to clear any regulatory obstacles.

Comment:

Has agreed on a merger of equals in a $55 billion stock swap with GTE Corp.

Wired Telecommunications Carriers, Telephone Communications, Telephone services, Bell Atlantic Corp., GTE Corp.

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SPX is buying General Signal for $2 billion

Article Abstract:

SPX Corp. to aquire General Signal for about $45 a share in stock and cash, or roughly $2 billion. The acquisition would create a company with $2.5 billion in sales in industrial and automotive businesses. SPX is acquiring a company with almost twice its size in sales. SPX had 1997 sales just under $1 billion, General Signal reported 1997 revenue of $1.9 billion. SPX is an automotive-supply and parts company. General Signal is a maker of industrial and electric controls.

Comment:

SPX Corp. to acquire General Signal for $2 billion

Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables, Asset sales & divestitures, Process Instruments, Controls, Carburetor, Piston, Piston Ring, and Valve Manufacturing, Carburetors, Rings & Valves, Process control equipment, Engine parts, General Signal Corp., SPX Corp.

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Wells Fargo and Northwest near a merger: with a $31.5 billion vallue, pact would produce a western bank giant

Article Abstract:

San Francisco, CA-based Wells Fargo and Co. is close to a merger with Norwest Corp. according to sources familiar with the matter. If the merger is realized, the resulting company would constitute a western banking giant. The move is viewed as a merger of equals. The merged entity would retain the Wells Fargo name and headquarters location.

Comment:

Is close to a merger with Wells Fargo and Co according to sources familiar with the matter

Commercial Banks, Commercial Banking, Wells Fargo & Co., Norwest Corp.

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