EBay Agrees to Acquire PayPal

Berkshire Hathaway and two other institutions invest in Level 3 Communications, and other merger news

PayPal (PYPL ) agrees to be acquired by eBay (EBAY ) in a stock deal valued at about $1.5 billion. Terms: 0.39 EBAY share per PYPL share. (7/8) Level 3 Communications (LVLT ) inks pact to sell $500 million aggregate principal amount of its 9% jr. convertible subordinated notes to three institutions, including Longleaf Partners Funds, Berkshire Hathaway (BRKA ), and Legg Mason. (7/8)

C-Cor.net (CCBL ) says it will acquire Philips Broadband Networks from Royal Philips Electronics for EUR 80 million in cash, plus the assumption of certain liabilities. (7/8)

Berkshire Hathaway will to buy Garan (GAN ) for $60 per share. (7/3)

Neotherapeutics (NEOT ) hires an investment banker to help it seek out strategic alternatives, including a sale or merger of the company or any of its divisions. (7/2)

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