Among the companies with shares expected to actively trade in
Monday's session are Ancestry.com Inc. (ACOM), Nexen Inc. (NXY,
NXY.T) and VF Corp. (VFC).
Genealogy website Ancestry.com confirmed it agreed to be
acquired by an investor group led by European private-equity firm
Permira for about $1.6 billion, or $32 a share. The $1.6 billion
value of the deal accounts for vesting of outstanding options,
while the $32-a-share price represents a premium of about 40% from
where the stock was trading in June before reports that the company
was on the block. Shares rose 7.9% to $31.48 premarket.
Canada's surprise rejection of the $5.21 billion takeover offer
by Malaysia's state-controlled energy company for Canadian
natural-gas producer Progress Energy Resources Corp. (PRQNF, PRQ.T)
has raised questions about a pending bid for Canadian natural-gas
producer Nexen from China's Cnooc Ltd. (CEO, 0883.HK). Canada's
main opposition party has called on the government to reject
Cnooc's deal to buy Nexen saying the review process wasn't
transparent enough. Nexen shares dropped 7.8% to $23.44
premarket.
VF's third-quarter earnings rose 27% as the branded-apparel
maker's Timberland Co. acquisition contributed to strong sales of
outdoor and sports segments. Still, shares fell 4.8% to $158.75
premarket amid a sequential deceleration in revenue growth in
Europe, China and the company's The North Face segment.
Orexigen Therapeutics Inc. (OREX) said it has received a
response to a formal dispute resolution request form the U.S. Food
and Drug Administration indicating the agency supports further
discussion regarding a faster path to resubmission of the drug
company's new drug application for investigational obesity drug
Contrave. Shares popped 8.1% to $6.65 premarket.
Koninklijke Philips Electronics NV (PHG, PHIA.AE) expects global
economic troubles to affect future expansion but said its
third-quarter results benefited from cost savings and growth in
emerging markets. American depositary shares of the Amsterdam-based
electronics company rose 6% to $26.07 premarket.
Oil and natural gas company Magnum Hunter Resources Corp. (MHR)
said its management discovered an inadvertent error in the
calculation of non-cash share-based compensation expense related to
common stock options granted to certain employees during the second
quarter of 2012. Net loss per common share for the three month
period ended June 30 should have been 12 cents rather than 10
cents. Shares fell 3.2% to $4.21 premarket.
Supernus Pharmaceuticals Inc. (SUPN) said it received approval
from the U.S. Food and Drug Administration for the specialty
pharmaceutical company's epilepsy treatment, Oxtellar, effective
Oct. 19. Shares rose 20% to $15.51 premarket.
Watchlist:
American Greetings Corp. (AM) said it has formed a special
committee of independent directors to review a proposal from Chief
Executive Zev Weiss and his family to take the greeting-card
company private.
Standard & Poor's Ratings Services placed Archer Daniels
Midland Co.'s (ADM) investment-grade rating on watch for a possible
downgrade, after the grain merchandiser earlier Friday said it was
seeking to buy Australian grain-handling company GrainCorp Ltd.
(GNC.AU).
Edwards Lifesciences Corp.'s (EW) third-quarter profit rose 34%,
but continued European economic trouble and a U.S. regulatory delay
hurt growth in its key heart valve implant device unit.
Activist investor Carl Icahn and affiliates reported a boosted
31% stake in Motricity Inc. (MOTR) after exercising subscription
rights to acquire more equity.
Write to Anna Prior at anna.prior@dowjones.com
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