Diversified industrial manufacturer Eaton Corp said it will buy electrical equipment maker Cooper Industries for $11.8 billion in cash and stock.
The offer of $72 per share is a 29 percent premium to Cooper’s Friday closing price. Cooper shareholders will get $39.15 in cash and 0.77479 in Eaton share for every share they own.
Comments »I see the G8 has a brilliant solution to the problems of the eurozone.President Obama says it’s time for “growth and jobs”. Jolly good. That’s the stuff. Let me show you how to create employment – the Brussels way.
Come with me through the streets of Athens, not far from Syntagma Square, and your mind will reel with the horrified realisation that history is not a one-way ratchet, that human progress is not guaranteed, and that a proud country can be reduced – by years of torture and bullying – to a state verging on total political, economic and moral collapse.
You will see businesses boarded up and windows smashed because no one has the money or the energy to fix them, and on almost every wall a riot of graffiti full of poisonous hatred for politicians. You will see people sitting on cardboard, heads down, hands out, or pushing trolleys full of scrap metal.
Not far from the town hall, I saw a man using the pavement as an operating theatre to eviscerate a mattress for its springs. In the eyes of every politician there is a glassy humiliation, a sense that the fate of the nation is no longer in their hands. Even worse than the humiliation is the dread that things will deteriorate further still. Thousands are now being fed by soup kitchens.
The stock is trading at $36.58, down 4.3% in pre-market trading.
Related: All social networking stocks are following it down the sewer pipe.
Comments »“We believe the current share price does not reflect the strength of Riverbed’s long-term growth prospects,” said Jerry M. Kennelly, Riverbed’s president and chief executive officer. “This action underscores our confidence in our business and our continued commitment to maximizing value for our shareholders.”
Comments »Gapping up
RBS +23.3%, YHOO +10.1%, FRO +4.1%, MT +3%, AEO +2.7%, NOK +2.5%, ARMH +2.4%,
ASML +2%, RIO +1.8%, TOT +1.5%, ANR +2.8%, JPM +0.8%, SWY +0.3%,
Gapping down
SLV -0.8%, FB -0.05%, BBY -2% , MS -0.8% , BLK -2.9%, AVP -4.7%, LOW -6.1%
Comments »
AVP, BAC, BBY, BA, DCI, FB, GS, HLF, KIRK, MS, MYGN, NUAN, PBR, RHI, ROST, SWY, SPLK, TJX, ZBRA,
Comments »$FB is trading at $36 and change. $MS will have to defend the stock at the open and level the stock off at $38; the IPO price. Te question is will this become a risk for $MS ?
Comments »“MOORESVILLE, N.C. (AP) — Lowe’s Cos.’ first-quarter profit climbed 14 percent, as warmer weather helped boost sales. But the world’s second-biggest home improvement company lowered its full-year earnings forecast on Monday, saying it is still cautious on the housing market and economic conditions.”
Comments »The Yen fell against its peers on speculation the BoJ will pour stimulus into the economy and that Europe is close to mending its debt woes.
Comments »Thailand gets itself in order after the worst flooding disaster with a good showing in GDP growth. Factories are back on line and domestic consumption is growing.
Comments »European markets are hopeful that G-8 nations have carved out a rescue plan for the region. German bunds fell.
Comments »Chinese consumers of thermal coal and iron ore are asking traders to defer cargos and – in some cases – defaulting on their contracts, in the clearest sign yet of the impact of the country’s economic slowdown on the global raw materials markets.
Comments »Yahoo confirms plan to sell up to 20% of Alibaba
-Marketwatch
