StreetInsider.com Pre-Open Movers 05/14
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StreetInsider.com Pre-Open Movers:
VIASYS Healthcare (NYSE: VAS) 36% HIGHER; Cardinal Health (NYSE: CAH) and VIASYS Healthcare announced a definitive agreement for Cardinal Health to acquire VIASYS for approximately $1.5 billion, including the assumption of outstanding debt. Under the agreement, Cardinal Health will make a cash tender offer to acquire all outstanding shares of VIASYS common stock at a price of $42.75 per share.
Critical Therapeutics, Inc. (Nasdaq: CRTX) 30% HIGHER; announced that the FDA has approved Dey, L.P.'s New Drug Application for Perforomist Inhalation Solution for long-term, twice-daily maintenance treatment of bronchoconstriction for emphysema and chronic bronchitis, also known as Chronic Obstructive Pulmonary Disease (COPD).
Inforte Corp. (Nasdaq: INFT) 25% HIGHER; Business & Decision Group and Inforte entered into a definitive agreement under which Business & Decision will acquire Inforte for $4.25 per share in an all-cash transaction. The transaction is valued at approximately $50 million and represents a 33% premium to Inforte's closing share price on May 11.
PRIMEDIA Inc.'s (NYSE: PRM) 21% HIGHER; Source Interlink Companies, Inc. signed a definitive stock purchase agreement to acquire PRIMEDIA Inc.'s Enthusiast Media division for approximately $1.2 billion.
Mylan Laboratories (NYSE: MYL) 10% LOWER; announced a definitive agreement to purchase Merck KGaA's generic business for $6.7 billion in an all cash deal.
Dendreon Corp. (Nasdaq: DNDN) 7% HIGHER; possible short covering following recent sell-off
Source Interlink Companies, Inc. (Nasdaq: SORC) 6.6% HIGHER; signed a definitive stock purchase agreement to acquire PRIMEDIA Inc.'s Enthusiast Media division for approximately $1.2 billion.
EGL, Inc. (Nasdaq: EAGL) 6% HIGHER; Announces Increase in Offers From Both CEVA and the Group Led by EGL CEO Jim Crane. $46/sh from CEVA and $45/sh from the Crane group
La Jolla Pharmaceutical Co. (Nasdaq: LJPC) 5% HIGHER; Needham starts at Buy
Micrus Endovascular Corp. (Nasdaq: MEND) 4.5% HIGHER; Cramer highlights stock on Mad Money Friday.
DaimlerChrysler (NYSE: DCX) 3.5% HIGHER; Cerberus Capital Management, L.P. will make a capital contribution of $7.4 billion in return for an 80.1% equity interest in the future new company, Chrysler Holding LLC. DaimlerChrysler will hold a 19.9% equity interest in the new company.
Nokia (NYSE: NOK) 3% HIGHER; updated its device market share outlook for the second quarter 2007. Nokia now expects its share of the global device market to increase sequentially in the second quarter 2007, from its estimated 36% share at the end of the first quarter. The company's prior outlook was flat. Nokia believes that its device shipments in the second quarter 2007 will be positively impacted, as excess device inventory in the market has sufficiently cleared.
VIASYS Healthcare (NYSE: VAS) 36% HIGHER; Cardinal Health (NYSE: CAH) and VIASYS Healthcare announced a definitive agreement for Cardinal Health to acquire VIASYS for approximately $1.5 billion, including the assumption of outstanding debt. Under the agreement, Cardinal Health will make a cash tender offer to acquire all outstanding shares of VIASYS common stock at a price of $42.75 per share.
Critical Therapeutics, Inc. (Nasdaq: CRTX) 30% HIGHER; announced that the FDA has approved Dey, L.P.'s New Drug Application for Perforomist Inhalation Solution for long-term, twice-daily maintenance treatment of bronchoconstriction for emphysema and chronic bronchitis, also known as Chronic Obstructive Pulmonary Disease (COPD).
Inforte Corp. (Nasdaq: INFT) 25% HIGHER; Business & Decision Group and Inforte entered into a definitive agreement under which Business & Decision will acquire Inforte for $4.25 per share in an all-cash transaction. The transaction is valued at approximately $50 million and represents a 33% premium to Inforte's closing share price on May 11.
PRIMEDIA Inc.'s (NYSE: PRM) 21% HIGHER; Source Interlink Companies, Inc. signed a definitive stock purchase agreement to acquire PRIMEDIA Inc.'s Enthusiast Media division for approximately $1.2 billion.
Mylan Laboratories (NYSE: MYL) 10% LOWER; announced a definitive agreement to purchase Merck KGaA's generic business for $6.7 billion in an all cash deal.
Dendreon Corp. (Nasdaq: DNDN) 7% HIGHER; possible short covering following recent sell-off
Source Interlink Companies, Inc. (Nasdaq: SORC) 6.6% HIGHER; signed a definitive stock purchase agreement to acquire PRIMEDIA Inc.'s Enthusiast Media division for approximately $1.2 billion.
EGL, Inc. (Nasdaq: EAGL) 6% HIGHER; Announces Increase in Offers From Both CEVA and the Group Led by EGL CEO Jim Crane. $46/sh from CEVA and $45/sh from the Crane group
La Jolla Pharmaceutical Co. (Nasdaq: LJPC) 5% HIGHER; Needham starts at Buy
Micrus Endovascular Corp. (Nasdaq: MEND) 4.5% HIGHER; Cramer highlights stock on Mad Money Friday.
DaimlerChrysler (NYSE: DCX) 3.5% HIGHER; Cerberus Capital Management, L.P. will make a capital contribution of $7.4 billion in return for an 80.1% equity interest in the future new company, Chrysler Holding LLC. DaimlerChrysler will hold a 19.9% equity interest in the new company.
Nokia (NYSE: NOK) 3% HIGHER; updated its device market share outlook for the second quarter 2007. Nokia now expects its share of the global device market to increase sequentially in the second quarter 2007, from its estimated 36% share at the end of the first quarter. The company's prior outlook was flat. Nokia believes that its device shipments in the second quarter 2007 will be positively impacted, as excess device inventory in the market has sufficiently cleared.
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