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By Davit Kirakosyan
Here is your Pro Recap of 5 head-turning deal dispatches you may have missed in the past week: Nexstar is in talks to acquire ABC from Disney , CCC Intelligent Solutions is looking into selling itself; CrownRock is exploring a $10 billion sale, and deals at T-Mobile/Comcast, Navios Maritime/N Shipmanagement Acquisition, and PFSweb/GXO Logistics.
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Nexstar in talks to buy ABC network from Disney
Walt Disney (NYSE:DIS) is in initial talks about the potential sale of its ABC network and TV stations to Nexstar Media Group (NASDAQ:NXST), according to Bloomberg News, which cited people familiar with the matter.
According to the report, these discussions are in their early stages and have not yet delved into specific valuation details. Nexstar has shown interest but is awaiting the right offer. Following this report, Disney stated that no decision has been made on selling ABC and that they are open to exploring various options, as mentioned in Bloomberg.
Disney shares rose nearly 5% last week, while Nexstar surged more than 13%.
CCC Intelligent Solutions exploring sale
According to a report that emerged late last week, car insurance software maker CCC Intelligent Solutions - 56% owned by private equity firm Advent International - is working with Morgan Stanley (NYSE:MS) to look into talks with potential buyers.
Reuters attributed its report to unnamed sources, saying Advent declined to comment and that neither CCC nor Morgan Stanley immediately responded to requests for comment.
CCC jumped on the news in after-hours trading Friday, and were recently rising 2% to $11.75 in Monday's premarket.
CrownRock exploring a $10 billion sale
According to Reuters, CrownRock LP is preparing for a potential sale that could value the company at well over $10B, including its debt, as reported by people familiar with the matter.
This move could mark the largest deal involving a U.S. oil and gas producer in the past three years. Notably, oil giants like Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) are expected to be approached to gauge their interest in this opportunity, although it's important to note that no deal is guaranteed at this stage, as mentioned by the sources.
T-Mobile to acquire 600 MHz spectrum from Comcast
T-Mobile US (NASDAQ:TMUS) entered into a License Purchase Agreement with Comcast (NASDAQ:CMCSA) to acquire spectrum in the 600 MHz band from Comcast for a Purchase Price between $1.2B and $3.3B, as reported in real-time on InvestingPro.
Two more hot deals
Navios Maritime (NYSE:NM) shares jumped nearly 20% on Wednesday after the company said it received an unsolicited non-binding proposal from N Shipmanagement Acquisition to acquire all of the outstanding shares not already beneficially owned by them and its affiliates for $1.84 in cash per common share.
PFSweb (NASDAQ:PFSW) shares jumped more than 47% on Thursday after the announcement, according to which it will be acquired by GXO Logistics (NYSE:GXO) for $7.50 per share in cash, representing an equity value of approximately $181 million.
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