StreetInsider.com Unusual 11 Mid-Day Movers 01/16/2007
Smith & Wollensky Restaurant Group (Nasdaq: SWRG) 48% HIGHER; Landry's Restaurants, Inc. (NYSE: LNY) offered to acquire the company for $7.50/share
ZEVEX International (NASDAQ: ZVXI) 36% HIGHER; Company has executed a definitive Merger Agreement with Moog Inc. (NYSE: MOG.A). Upon the closing of the merger, each share of ZEVEX common stock that is issued and outstanding immediately prior to the closing, and each outstanding restricted stock unit that is convertible into shares of ZEVEX common stock, will be converted into the right to receive from Moog $13.00 in cash.
Highway Holdings Ltd. (Nasdaq: HIHO) 23.7% HIGHER; Received two initial OEM orders from U.S.-based customers: The Coleman Company, Inc., located in Wichita, Kansas, to produce radio units and Fluidmaster, Inc., based in San Juan Capistrano, California, to produce tools for the manufacture of certain flushing system components. Terms were not disclosed.
Genesis HealthCare (Nasdaq: GHCI) 16.2% HIGHER; Company has entered into a definitive agreement to be acquired, in an all-cash transaction for $63.00 per share, by a joint venture between affiliates of Formation Capital, LLC and JER Partners. The per share price represents a premium of approximately 31.1% over the average closing price for GHC common stock over the past 30 trading days. The aggregate transaction value, including the assumption of approximately $450 million of debt, is approximately $1.7 billion.
InnerWorkings (Nasdaq: INWK) 14.6% LOWER; Shares are trading down after a negative article from Barron's this past weekend.
Mills Corp. (NYSE: MLS) 13.9% HIGHER; Large holder Farallon Capital offers to buy $499 million in stock for $20 per share, with conditions.
WCI Communities, Inc. (NYSE: WCI) 10.8% HIGHER; In a 13D filing after the close Friday on WCI Communities, Carl Icahn disclosed a 14.57% stake (6.1 million shares) in the company. This is up from the 1.66 million shares Icahn disclosed in its latest quarterly filing. In the filing, Icahn said he intend to contact the Company with a view to having a series of discussions regarding the business and prospects of the Company and seeking the Company's views on how to unlock the inherent value of the Shares.
FairPoint Communications (NYSE: FRP) 10.6% HIGHER; Verizon Communications (NYSE: VZ) and FairPoint announced definitive agreements that will result in Verizon establishing a separate entity for its local exchange and related business assets in Maine, New Hampshire and Vermont, spinning off that new entity to Verizon's stockholders, and merging it with and into FairPoint.
Symantec (Nasdaq: SYMC) 8.3% LOWER; Company lowers Q3 guidance.
Commerce Bancorp (NYSE: CBH) 7.6% LOWER; Reports Q4 EPS of $0.40, in-line with estimates. CBH reports FY06 EPS of $1.63, in-line with estimates.
Sunrise Senior Living (NYSE: SRZ) 5.5% HIGHER; Ventas, Inc. (NYSE: VTR) reached a definitive agreement with Sunrise Senior Living REIT (TSE: SZR.UN) to acquire its interest in 74 high-quality private pay assisted living communities in the U.S. and Canada and the exclusive right of first offer to acquire other newly developed assets in Canada and portions of the U.S. for Cdn $15.00 per unit, for a total value including debt of Cdn $2.1 billion (or approximately USD $1.8 billion at current exchange rates). The acquired assets were developed by Sunrise Senior Living, Inc. (NYSE: SRZ).
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