Pre-Open Movers 12/31: Delta Petroleum (DPTR) Up On Kerkorian Stake, Salix Pharma (SLXP) Sinks On Generic Competition
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StreetInsider.com Pre-Open Movers:
Transmeridian Exploration Incorporated (AMEX: TMY) 83% HIGHER; The company and Trans Meridian International, Inc., a company formed by Chairman/CEO Lorrie T. Olivier, have entered into a definitive merger agreement pursuant to which TMI will commence a tender offer to purchase all of the Company\'s outstanding shares of common stock for a price of $3.00 per share, payable net to the seller in cash.
Delta Petroleum Corporation (Nasdaq: DPTR) 19% HIGHER; entered into a strategic financing agreement with Tracinda Corporation, a private investment corporation wholly-owned by Kirk Kerkorian. Under the agreement, Tracinda will invest $684 million to acquire common stock from the Company at $19.00 per share, a 23% premium to Friday\'s close.
Vonage Holdings (NYSE: VG) 13% HIGHER; Settles Patent Dispute with Vonage
Cogent Inc. (Nasdaq: COGT) 11% LOWER; Negative Barron\'s article
Salix Pharmaceuticals Ltd. (Nasdaq: SLXP) 8% LOWER; Mylan (NYSE: MYL) gets FDA okay for generic Colazal.
Baidu.com, Inc. (Nasdaq: BIDU) 1% LOWER; announced that Chief Financial Officer, Shawn Wang, passed away on December 27, 2007 in an accident in China during the Christmas holiday vacation.
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