Market Chatter-Corporate finance press digest

July 4 Wed Jul 3, 2013 11:55pm EDT

July 4 (Reuters) - The following corporate finance-related stories were reported by media on Thursday:

* Stephen Feinberg has scrapped a bid for the maker of the Bushmaster rifle, which his private equity firm, Cerberus Capital Management LP, put up for a sale after one of its guns was used in the Newtown, Connecticut school shooting in December, a person familiar with the matter said on Wednesday.

* The Federal Communications Commission on Wednesday approved the merger of Sprint Nextel Corp and SoftBank Corp, sources familiar with the situation said, clearing the very last hurdle in the Japanese company's drawn-out battle to take control of the No. 3 U.S. wireless provider.