StreetInsider.com Pre-Open Movers 01/29

January 29, 2007 9:22 AM EST

StreetInsider.com Pre-Open Movers:

Premier Community Bankshares, Inc. (Nasdaq: PREM) 62% HIGHER; entered into a definitive merger agreement with United Bankshares, Inc. (Nasdaq: UBSI) under which United will acquire Premier. Premier shareholders will be permitted to elect to receive United common stock or cash, or a combination of each, for their shares of Premier common stock. The stock consideration will be at a fixed exchange ratio of 0.93 shares of United common stock for each share of Premier common stock and the cash consideration will be $34.00 per share.

Molecular Devices Corporation (Nasdaq: MDCC) 46% HIGHER; MDS Inc. (NYSE: MDZ) and Molecular Devices signed a definitive agreement pursuant to which MDS will acquire Molecular Devices, a leading provider of high-performance measurement tools for high content screening, cellular analysis and biochemical testing, in a US$615 million cash transaction. Under this agreement, MDS proposes to acquire all of the common stock of Molecular Devices for US$35.50 per share.

First Republic Bank (NYSE: FRC) 40% HIGHER; Merrill Lynch (NYSE: MER) and First Republic Bank entered into a definitive agreement for Merrill Lynch to acquire all of the outstanding common shares of First Republic in exchange for cash and stock valued at a fixed price of $55.00 per First Republic share, subject to shareholder elections, for a total transaction value of $1.8 billion.

Silicom Ltd. (NASDAQ: SILC) 30% HIGHER; Revenues for the fourth quarter of 2006 were $5.0 million, an increase of 60% compared with $3.1 million in the fourth quarter of 2005 and 20% compared sequentially to the third quarter of 2006. Net income for the quarter increased by 125%, reaching $1.1 million, or $0.20 per diluted share ($0.21 per basic share), compared to $473,000, or $0.11 per share (basic and diluted) for the fourth quarter of 2005.

Synagro Technologies, Inc. (NASDAQ: SYGR) 28% HIGHER; The Carlyle Group entered into a definitive merger agreement to acquire the company for $5.76 per share in cash.

Quality Distribution, Inc. (Nasdaq: QLTY) 24% LOWER; Guides Lower for Q4 and FY06. Fully diluted earnings per share for the fourth quarter of 2006 are now projected to be in the range of $0.03 to $0.07 as compared to the previously announced range of $0.17 to $0.19. (Consensus is $0.21)

Altiris, Inc. (Nasdaq: ATRS) 20% HIGHER; Symantec Corp. (Nasdaq: SYMC) announced it has signed a definitive agreement to acquire Altiris, Inc. for $33 per share of Altiris common stock in cash, resulting in a transaction value of approximately $830 million net-of-cash-acquired.

Abitibi-Consolidated Inc. (NYSE: ABY) 17% HIGHER; Abitibi-Consolidated and Bowater Incorporated announced a definitive agreement to combine in an all-stock merger of equals.

Bowater Incorporated (NYSE: BOW) 13% HIGHER; Abitibi-Consolidated and Bowater Incorporated announced a definitive agreement to combine in an all-stock merger of equals.

Laureate Education, Inc. (NASDAQ: LAUR) 12% HIGHER; entered into a definitive agreement under which an investor group will acquire Laureate in an all cash transaction for $60.50 per share, or an aggregate value of approximately $3.8 billion. The investor group is led by Douglas L. Becker, Chairman and Chief Executive Officer of Laureate, and consists of a consortium including Kohlberg Kravis Roberts & Co. (KKR); Citigroup Private Equity; S.A.C. Capital Management, LLC; SPG Partners; Bregal Investments; Caisse de depot et placement du Quebec; Sterling Capital; Makena Capital; Torreal S.A.; and Southern Cross Capital.

ISIS Pharmaceuticals Inc. (NASDAQ: ISIS) 6% HIGHER; Lehman Brothers Starts at Overweight

Bristol-Myers Squibb Co. (NYSE: BMY) 5.5% HIGHER; rumors the company is in talks to merge with Sanofi-Aventis (NYSE: SNY). The story originates from French newsletter, La Lettre de l' Expansion.

Mattel, Inc. (NYSE: MAT) 4% HIGHER; reports Q4 EPS of $0.75, 8 cents better than estimates. Revenues were $2.11 billion vs. $1.99 billion consensus.

USG Corp (NYSE: USG) 4% LOWER; reports Q4 earnings of $1.11 per share, versus the consensus of $1.31. Revenues came in at $1.29 billion versus the consensus of $1.36 billion.

CDC Corp. (Nasdaq: CHINA) 4% HIGHER; CDC Mobile Announces Strategic Agreement with Nokia

Educate, Inc. (Nasdaq: EEEE) 3% HIGHER; entered into a definitive agreement to be acquired by a group of investors including Christopher Hoehn-Saric, Chairman and Chief Executive Officer, Peter Cohen, President and Chief Operating Officer, and certain other members of management and affiliates of Sterling Capital Partners and Citigroup Private Equity for $8.00 per share in cash. The total value of the transaction, including assumed debt, is approximately $535 million.

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