Sep 9, 2013

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Morning Movers: Molex Inc. (NASDAQ:MOLX) and Crown Castle International Corp. (NYSE:CCI)

Morning Movers: Molex Inc. (NASDAQ:MOLX) and Crown Castle International Corp. (NYSE:CCI)

Koch Industries Inc. has decided to purchase Molex Inc. (NASDAQ:MOLX) in a bid of $38.50 per share in cash.

The agreement logs a 31% premium to Friday’s ending for common stock and a 56% for Friday’s ending of Class A common stock, the firms reported on Monday.

The agreement for Molex, which makes electronic components, has an overall equity worth of almost $7.2 billion. Molex will retain its name, management team and headquarters, while starting as a standalone subsidiary of Koch Industries. The agreement is predicted to finish by the end of this year.

Crown Castle International Corp. (NYSE:CCI) reported that it is focusing to get real-estate investment trust status by the beginning of nexy year, a move that would give tax advantages to the cell-tower company.

Shares were higher 4.7% at $73.84 in the recent premarket session. Through last session closing, the stock was lower 2.2% this year.

Low interest rates have forced firms throughout sectors, varying from billboard operators to casino owners, to think over tapping the tax advantages that come with real estate investment trust status. Crown Castle’s bigger peer, American Tower Corp., turned into a REIT at the start of last year.

Crown Castle’s focus about dividend distributions after the planned REIT conversion would be founded on investment opportunities all over its core business, amid other things.

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