AT&T Approaches DiecTV for Possible Takeover and PlugPower Falls after ClearEdge Power Filed for Bankruptcy
AT&T, Inc. (NYSE: T) has approached DirecTV about a possible acquisition accoding to a Wall Street Journal report that cited people familiar with the situation. The newspaper noted that a deal would likely be worth at least $40 billion. DirecTV spokesman Robert Mercer said the company does not comment on speculation.
AT&T Inc. provides telecommunications services to consumers and businesses in the United States and internationally. Its Wireless segment offers various wireless voice, data, text, and other services, including local wireless communications services, long-distance services, and roaming services. This segment also sells various handsets, wirelessly enabled computers, and personal computer wireless data cards through its owned stores, agents, or third-party retail stores; and accessories comprising carrying cases, hands-free devices, batteries, battery chargers, and other items to consumers, as well as to agents and third-party distributors.
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Plug Power Inc. (NASDAQ: PLUG) has tripped a Nasdaq short-sale circuit breaker that imposes restrictions on prices at which securities may be sold short, according to MarketWatch. FactSet said that about 30% of the company's shares are sold short. The company is expected to report first quarter results on May 14. A fellow industry company, ClearEdge Power, filed for Chapter 11 bankruptcy protection on May 1st, according to court records.
Plug Power Inc., an alternative energy technology provider, is engaged in the design, development, manufacture, and commercialization of fuel cell systems for the industrial off-road markets worldwide. It is focused on proton exchange membrane (PEM) fuel cell and fuel processing technologies and fuel cell/battery hybrid technologies. The companys product line includes GenDrive, a hydrogen fueled PEM fuel cell system providing power to material handling vehicles; GenKey, its turn-key solution offering simplicity to customers transitioning their material handling vehicles to fuel cell power; GenFuel, its hydrogen fueling delivery system; and GenCare, its ongoing maintenance program for both the GenDrive fuel cells and GenFuel products.
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