Among the companies with shares expected to actively trade in
Monday's session are TW Telecom Inc. (TWTC), Fusion-io Inc. (FIO)
and Affymax Inc. (AFFY) .
Level 3 Communications Inc. (LVLT) agreed to buy business
Ethernet provider TW Telecom Inc. for about $5.7 billion in cash
and stock, a deal that would expand Level 3's metropolitan
footprint. The deal values TW Telecom at $40.86 a share, a 12%
premium to Friday's close. TW Telecom shares rose 12% to $40.60
premarket. Level 3 shares rose 1.6% to $44.80.
SanDisk Corp. (SNDK) agreed to acquire Fusion-io Inc. (FIO) in
an all-cash deal that values the data-storage company at about
$1.21 billion. Net of cash assumed, the deal is valued at $1.1
billion. The flash-memory maker is offering $11.25 a share, a 21%
premium to Friday's closing price. Fusion-io shares rose 25% to
$11.60 premarket.
Affymax Inc. (AFFY) and Takeda Pharmaceutical Co. Ltd. (TKPYY)
said they will end their anemia drug Omontys partnership in
September and withdraw an application with the U.S. Food and Drug
Administration. The companies had recalled the drug, which was used
in kidney dialysis patients, in February 2013 following reports of
serious hypersensitivity reaction including anaphylaxis, a
life-threatening allergic reaction. Affymax shares fell 11% to 57
cents premarket.
International Game Technology (IGT) said on Monday that the
company's board and management are currently exploring strategic
options for the casino-game maker. Shares rose 12 cents to $15.98
premarket.
Drilling-services company Layne Christensen Co. (LAYN) said
Monday that it is taking steps to cut costs, including reviewing
underperforming assets and operations, in an effort to improve its
operating results. Shares fell 13% to $13 premarket.
Yandex NV (YNDX) on Monday said it agreed to buy Russian online
auto-classified company Auto.ru for about $175 million in cash.
Auto.ru operates the largest and most detailed classifieds catalog
for new and used cars in Russia, said Alexey Tretyakov, Yandex vice
president of commerce. Shares fell 1.6% to $33.18 premarket.
Zynga Inc. (ZNGA) said Friday it received a notice from Nasdaq
saying it wasn't in compliance with its listing rules after two
directors recently left the videogame company's board. Nasdaq
listing rules require that the company's board be comprised of a
majority of independent directors, Zynga said in a regulatory
filing. Shares fell 2.3% to $3.03 premarket.
Watchlist:
AON PLC's (AON) Aon Affinity business has agreed to buy
flood-insurance provider StoneRiver National Flood Services Inc.
from StoneRiver Group LP. Financial terms weren't disclosed.
Discover Financial Services (DFS) agreed to enhance its
procedures for preventing money laundering under a pact with the
Federal Deposit Insurance Corp., the credit-card lender said
Friday.
Federal Signal Corp. (FSS) said it intends to appeal a Latvian
court ruling against the company's Bronto Skylift unit in a dispute
related to a 2008 sale of three Bronto units.
Hill-Rom Holdings Inc. (HRC) agreed to buy TRUMPF Medical for
$250 million in cash, a deal that would give the company a stronger
foothold outside of North America and double its surgical
portfolio.
Safeway Inc. (SWY) said it has entered a preliminary settlement
of a shareholders suit related to the pending $9.4 billion takeover
of the supermarket operator by Cerberus Capital Management LP. The
memorandum of understanding includes provisions for Safeway to move
ahead the planned expiration date of its shareholder rights plans
by roughly three months to Thursday.
Write to Maria Armental at maria.armental@wsj.com and
Tess.Stynes at tess.stynes@wsj.com
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