Mississauga, ON -- (SBWIRE) -- 09/03/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Tuesday Heavy Day for Mergers and Acquisitions in Canada and US.”
Companies mentioned in this article include Verizon Corp. (NYSE:VZ), Microsoft (Nasdaq:MSFT), Nokia Corp. (NYSE:NOK), CIBT Education Group Inc. (TSX:MBA), Loyalist Group Limited (TSX-Venture:LOY), Fission Uranium Corp. (TSX-Venture:FCU) and Alpha Minerals Inc. (TSX-Venture:AMW).
On Monday, both Bay Street and Wall Street shuttered their doors in observance of Labor Day in both countries. It may be a day of rest to celebrate the social and economic achievements of the working class in decades gone by, but corporations seemed to have been awfully busy finalizing deals that were released on Tuesday when the markets re-opened.
Some deals were enormous, paced by Verizon Corp. (NYSE:VZ) agreeing to spend a whopping $130 billion to buy Vodafone out of its U.S. wireless business. In the deal, Vodafone is getting $58.9 billion in cash, $60.2 billion in Verizon stock and another $11 billion in other transactions. It is the third largest corporate transaction in history. Shares of VZ have slid 3 percent with the news.
In a deal that seems paltry by magnitude, Microsoft (Nasdaq:MSFT) said it is shelling-out $7.2 billion to buy Nokia Corp.’s (NYSE:NOK) handset business. As part of the deal, Nokia’s Canadian CEO Stephen Elop, who used to be head of Microsoft’s business software division, is returning to Microsoft as head of the mobile device business. Some are already pegging Elop as a potential candidate to replace Microsoft’s retiring chief executive Steve Ballmer. Shares of Microsoft are down about 6 percent on the news and NOK shares have jumped ahead by 30 percent.
Though the deals weren’t in the billions of dollars, Canadian equities are responding more favorable towards companies announcing merger and acquisition activity.
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