Morning Movers 9/28: ASPM, GETI, GMTN, ISR, ACS, HLCS Higher; FRP, CLSN, XRX, DRAM Lower
Aspect Medical Systems, Inc. (NASDAQ: ASPM) 55.4% HIGHER; Covidien (NYSE: COV) agreed to acquire Aspect Medical for $12.00 in cash per Aspect share for a total of approximately $210 million, net of cash and short-term investments acquired. Shares of Aspect Medical closed at $7.67 on Friday.
GenTek Inc. (NASDAQ: GETI) 39.8% HIGHER; entered into a definitive agreement to be acquired by ASP GT Acquisition Corp. Under the terms of the merger agreement, ASP will commence a tender offer to purchase for cash all of the outstanding shares of GenTek common stock at a price of $38.00 per share. The transaction is valued at $673 million consisting of equity value of approximately $411 million plus the assumption of net debt and similar liabilities of approximately $262 million.
Gander Mountain Company (Nasdaq: GMTN) 34.6% HIGHER; announced its intent to cease its public company status. Click here for the full report.
FairPoint Communications, Inc. (NYSE: FRP) 22.7% LOWER; announced today that it is in discussions with certain of the lenders under its bank credit facility regarding a permanent debt restructuring. The Company also announced that as part of those discussions, it has entered into a forbearance agreement with lenders that collectively hold more than 50% of the loans and commitments outstanding under the credit facility. Click here for the full report.
Celsion Corporation (NASDAQ: CLSN) 22.4% LOWER; announced that it has entered into definitive agreements with a select group of institutional investors to sell 2,018,153 shares of common stock and warrants to purchase up to 1,009,077 shares of common stock in a registered direct offering. The common stock and warrants will be sold in units, with each Unit consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock, at a negotiated purchase price of $3.50 per Unit. The Company expects to receive gross proceeds from the offering of approximately $7.1 million, before deducting placement agents' fees and estimated offering expenses.
IsoRay, Inc. (Amex: ISR) 22% HIGHER; announced today that on August 5, 2009, Dr. Bhupesh Parashar from the Department of Radiation Oncology, Dr. David Kutler of the Department of Otorhinolaryngology, and Dr. Jason Spector of the Department of Plastic Surgery at Weill Cornell Medical Center performed the world's first Cesium-131 implant for a recurrent head and neck cancer (buccal mucosa). Click here for the full report.
Affiliated Computer Services, Inc. (NYSE: ACS) 16.7% HIGHER; Xerox Corporation and ACS today announced a definitive agreement for Xerox to acquire ACS in a cash and stock transaction valued at $63.11 per share or $6.4 billion as of the closing price of Xerox stock on Sept. 25. Click here for the full report.
Helicos BioSciences Corporation (NASDAQ: HLCS) 15.4% HIGHER; announced the sale of a system and a scientific collaboration with Correlagen Diagnostics Inc., a leading provider of genetic tests for disease diagnosis.
Xerox (NYSE: XRX) 14.3% LOWER; agrees to acquire ACS for $63.11/share, or $6.4 billion.
Dataram Corporation (NASDAQ: DRAM) 10.2% LOWER; today unveiled the XcelaSAN(R) storage optimization appliance, the industry's first solution to seamlessly deliver up to 30x performance improvement to existing applications.
Pomeroy IT Solutions, Inc. (Nasdaq: PMRY) 9.7% HIGHER; entered into a definitive merger agreement to be acquired by affiliates of private equity firm Platinum Equity, LLC. Under the terms of the merger agreement, Platinum Equity, through its affiliates, will acquire all of the outstanding common stock of the Company for $6.50 per share.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
GenTek Inc. (NASDAQ: GETI) 39.8% HIGHER; entered into a definitive agreement to be acquired by ASP GT Acquisition Corp. Under the terms of the merger agreement, ASP will commence a tender offer to purchase for cash all of the outstanding shares of GenTek common stock at a price of $38.00 per share. The transaction is valued at $673 million consisting of equity value of approximately $411 million plus the assumption of net debt and similar liabilities of approximately $262 million.
Gander Mountain Company (Nasdaq: GMTN) 34.6% HIGHER; announced its intent to cease its public company status. Click here for the full report.
FairPoint Communications, Inc. (NYSE: FRP) 22.7% LOWER; announced today that it is in discussions with certain of the lenders under its bank credit facility regarding a permanent debt restructuring. The Company also announced that as part of those discussions, it has entered into a forbearance agreement with lenders that collectively hold more than 50% of the loans and commitments outstanding under the credit facility. Click here for the full report.
Celsion Corporation (NASDAQ: CLSN) 22.4% LOWER; announced that it has entered into definitive agreements with a select group of institutional investors to sell 2,018,153 shares of common stock and warrants to purchase up to 1,009,077 shares of common stock in a registered direct offering. The common stock and warrants will be sold in units, with each Unit consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock, at a negotiated purchase price of $3.50 per Unit. The Company expects to receive gross proceeds from the offering of approximately $7.1 million, before deducting placement agents' fees and estimated offering expenses.
IsoRay, Inc. (Amex: ISR) 22% HIGHER; announced today that on August 5, 2009, Dr. Bhupesh Parashar from the Department of Radiation Oncology, Dr. David Kutler of the Department of Otorhinolaryngology, and Dr. Jason Spector of the Department of Plastic Surgery at Weill Cornell Medical Center performed the world's first Cesium-131 implant for a recurrent head and neck cancer (buccal mucosa). Click here for the full report.
Affiliated Computer Services, Inc. (NYSE: ACS) 16.7% HIGHER; Xerox Corporation and ACS today announced a definitive agreement for Xerox to acquire ACS in a cash and stock transaction valued at $63.11 per share or $6.4 billion as of the closing price of Xerox stock on Sept. 25. Click here for the full report.
Helicos BioSciences Corporation (NASDAQ: HLCS) 15.4% HIGHER; announced the sale of a system and a scientific collaboration with Correlagen Diagnostics Inc., a leading provider of genetic tests for disease diagnosis.
Xerox (NYSE: XRX) 14.3% LOWER; agrees to acquire ACS for $63.11/share, or $6.4 billion.
Dataram Corporation (NASDAQ: DRAM) 10.2% LOWER; today unveiled the XcelaSAN(R) storage optimization appliance, the industry's first solution to seamlessly deliver up to 30x performance improvement to existing applications.
Pomeroy IT Solutions, Inc. (Nasdaq: PMRY) 9.7% HIGHER; entered into a definitive merger agreement to be acquired by affiliates of private equity firm Platinum Equity, LLC. Under the terms of the merger agreement, Platinum Equity, through its affiliates, will acquire all of the outstanding common stock of the Company for $6.50 per share.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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