2:10 PM New York – AT&T agreed to buy Straight Path for $1.6 billion. Aspen and KSL Capital intend to buy Intrawest Resorts for $1.5 billion. Swift Transportation and Knight Transportation agreed to merge. Toyota said it plans to invest $1.3 billion and expand production at Kentucky plant.
Tollbooth Index increased 24.67 or 0.2% to 11,578.17.
) slid 6 cents to $40.54 after the wireless carrier agreed to acquire Straight Path Communications Inc for about $1.6 billion.
Under the terms, shareholders of Straight Path will receive $95.63 worth of AT&T.
Straight Path Communications Inc stock soared 146.8% to $90.02.
Aspen Skiing Co LLC
, Reuter said the privately held ski resorts operator and private equity firm KSL Capital Partners LLC will buy Intrawest Resorts Holdings Inc for $23.75 per share in cash or about $1.5 billion, including debt.
The transaction is expected to close by the end of the third quarter of this year.
Intrawest Resorts Holdings Inc stock plunged 6.1% to $23.74.
LG Display Co Ltd
) increased 1% or 13 cents to $13.27 after the Electronic Times reported Google Inc offered to invest up to $880.29 million or 1 trillion won to the South Korea-based liquid crystal display maker.
Lifeway Foods, Inc
) rose 1 cent to $10.22 after the dairy and health food products maker said net sales in the year ending in December jumped 4.5% from a year ago to $123.9 million.
Net income in the quarter soared 75% to $3.5 million or 22 cents per diluted share from $2 million or 12 cents in the same quarter last year.
) gained 1.5% or 35 cents to $23.86 after the cloud-based identity software developer completed its initial public offering and raised $187 million valuing the company at about $1.5 billion. The stock soared 40% on the first day of trading from its offer price.
Swift Transportation Co
) surged 23.2% or $4.65 to $24.67 after the trucking and logistics services provider is planning a merger worth $6 billion with Knight Transportation and the merged company is expected to be named “Knight-Swift”
Swift share will convert into 0.72 shares of the merged company. Each Knight share will be swapped for one Knight-Swift share.
Toyota Motor Corp
) rose 25 cents to $106.16 after the Japan-based automobile maker said it plans to invest $1.33 billion at its Kentucky production facility and increase Camry model production capacity.
“Toyota''''s plans to invest $10 billion in the United States over the next five years,” chief executive officer of Toyota Jim Lentz said.
) jumped 7.7% or 69 cents to $9.69 after the electronic testing equipment maker agreed to be acquired by Unic Capital Management for $10.25 per share in cash or about $580 million.