Among the companies with shares expected to actively trade in
Monday's session are Idenix Pharmaceuticals Inc. (IDIX) and
Hillshire Brands Co. (HSH).
The U.S. Food and Drug Administration on Friday approved
BioDelivery Sciences International Inc.'s (BDSI) Bunavail for the
maintenance treatment of opioid dependence. Shares edged up 2% to
$10.20 premarket.
The U.S. Food and Drug Administration has approved Biogen Idec
Inc.'s (BIIB) Eloctate drug for adults and children with Hemophilia
A. Biogen said it expects the drug will be commercially available
in the U.S. in July. Shares edged up 0.8% to $320 premarket.
Merck & Co. (MRK) agreed to buy Idenix Pharmaceuticals in a
bid to expand its portfolio of hepatitis C treatments. The
pharmaceutical company said it will acquire Idenix for $24.50 a
share in cash, more than three times Idenix's closing price Friday.
Idenix more than tripled to $24.11.
Tyson Foods Inc. (TSN) emerged as the winner in a battle to
acquire Hillshire, topping by almost a billion dollars a bid by
rival Pilgrim's Pride Corp. (PPC) for the maker of Jimmy Dean
sausages. Tyson has offered $63 a share in cash, while Pilgrim's
Pride, a unit of Brazilian meatpacking giant JBS SA, withdrew its
offer. Hillshire climbed 4.8% to $61.75 premarket, while Tyson
slipped 0.9% to $39.75. Pilgrim's was inactive.
Watch List:
Men's clothing retailer Jos. A. Bank Clothiers Inc. (JOSB) swung
to a loss in its fiscal first-quarter, hurt by costs related to its
acquisition by Men's Wearhouse Inc. (MW), and said it was cautious
entering the important Father's Day shopping period.
Write to Maria Armental at maria.armental@wsj.com
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