The Wall Street Journal published, mentioning people familiar with the matter, that Sprint Nextel Corporation (NYSE:S) is in talks to purchase the 49% of Clearwire Corporation (NASDAQ:CLWR) it doesn’t previously hold in a move to clear up a tangled rights structure that has left Sprint unable to manage the decisions of a key strategic partner.
Shares of Sprint Nextel closed at $5.57 with the change of -$0.09 or -1.59% and shares of Clearwire Corporation settled at $2.68 with the change of +$0.28 or +11.67%.
The agreement is likely to be declared at the close of the current year. Mr. Dan Hesse, the Chief Executive Officer of Sprint Nextel Corporation agreed that they are preparing to buy out more investors in Clearwire Corporation. [article_detail_ad_1]
Cardiome Pharma Corp. (NASDAQ:CRME) stated that it reached an agreement with Merck & Co., Inc. (NYSE:MRK) to clear up its debt obligations stemming from the companies’ alliance and license agreement for vernakalant, a treatment for atrial fibrillation inked in April 2009.
Cardiome decided to give Merck $20 million on or before March 31 to clear up its outstanding debt of $50 million payable to Merck. Cardiome shared closed at $0.35 with the change of +$0.10 or +39.92% whereas shares of Merck settled at $45.10 with the change of +$0.62 or +1.38%.
Delta Air Lines, Inc. (NYSE:DAL) authenticated that it is purchasing Singapore Airlines Ltd.’s (PINK:SINGY) 49% shares in Virgin Atlantic Airways Ltd., forming an alliance that will make an expanded trans-Atlantic network.
The transaction will increase the US carrier’s presence at London’s congested Heathrow Airport and keep on a run of cut-price contracts to expand its network. Shares of Delta Air Lines ended at $10.66 with the change of +$0.52 or +5.13% and shares of Singapore Airlines closed trading at $17.57 with the change of +$0.17 or +0.98%.
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