Zions Bancorp to Buy Pioneer Bancorp in $341 Million Deal
Zions Bancorp
(ZION) - Get Zions Bancorporation N.A. Report
, Utah's second-largest banking company, agreed to buy
Pioneer Bancorp
(PNCZ:OTC BB) for about $341 million in stock. The deal values each Pioneer share at $35.70 a share, a 15% premium over today's close of 31.
Hoover's
, an Austin, Texas-based publisher of an online guide featuring data and profiles on about 14,000 companies, filed for a $48.9 million IPO. The company hopes to trade under the symbol HOOV on the
Nasdaq Stock Market
.
In other postclose news:
Mergers, acquisitions and joint ventures
Columbia Energy Group
(CG) - Get Carlyle Group Inc (The) - Ordinary Shares Report
said it will up its $6.7 billion unsolicited bid for
Consolidated Natural Gas
(CNG)
if the proposed deal wasn't completed by Aug. 15, 2000.
TheStreet Recommends
Texaco
(TX) - Get Ternium S.A. American Depositary Shares (each representing ten shares USD1.00 par value) Report
called the market chatter about a union with
Chevron
(CHV)
that pushed up its stock 8.1% today "just speculation and rumor."
Offerings and stock actions
Mirage Resorts
(MIR)
announced a 16.6 million-share offering.
Miscellany
International Paper
(IP) - Get International Paper Company Report
announced plans to close its two offices in Wayne, N.J., as a result of its acquisition of
Union Camp
.
Kaiser Aluminum
(KLU)
and the
United Steelworkers
agreed to meet in Pittsburgh May 10 to negotiate a bargaining agreement.
A fire broke out today at a Houston refinery operated as a joint venture between
Lyondell Petrochemical
(LYO)
and
Citgo
, a U.S. subsidiary of Venezuelan state oil company
PDVSA
.
TWA
(TWA)
said it's willing to accept binding arbitration with its machinists union, but the union rejected the arbitration, starting a 30-day countdown to striking.
