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U.S. Movers: Caterpillar, Blommer Chocolate, Colfax, Cimarex Energy

Author: Mukesh Buch
Last Update: 6:48 AM EST November 19 2018

1:25 PM New York City, New York – Blommer Chocolate agreed to be acquired by Fuji Oil Holdings. Colfax Corp agreed to buy DJO Global for $3.15 billion. Cimarex Energy plans to acquire Resolute Energy for $1.6 billion. QEP Resources agreed to sell its oil and gas assets in Louisiana.

Tollbooth Index dropped 148.64 or 0.9% to 15,161.70 but for the year-to-date soared 10.2%.

Earnings Review

Caterpillar Inc (CAT) dropped 2.1% or $2.71 to $127.26 and Reuters reported that the South Africa-based equipment maker Barloworld Ltd said it is in talks with the company to buy business from Caterpillar.

Blommer Chocolate Company, the U.S.-based privately held cocoa processor and ingredient chocolate supplier agreed to be acquired by Japan-based food ingredient maker Fuji Oil Holdings Inc,

Under the terms, the deal includes Blommer’s four manufacturing business in North America and one in Shanghai, China.

The company did not disclose the price and financial terms of the acquisition.

Colfax Corporation (CFX) plunged 9.7% or $2.70 to $25.27 after the welding equipment maker agreed to acquire medical devices maker DJO Global Inc. for about $3.15 billion in cash.

Colfax plans to enter into selling the high-margin orthopedic medical devices like shoulder implants and knee braces.

The transaction is expected to close in the first-quarter of 2019.

Cimarex Energy Co slid 17 cents to $88.59 after the petroleum and gas explorer plans to acquire smaller rival Resolute Energy Corp in a deal valued $1.6 billion including $710 million debt.

Under the terms, shareholders of Resolute had option to receive 0.3943 shares of Cimarex common stock, $35 per share in cash, or a combination of $14 per share in cash and 0.2366 share of Cimarex common stock.

QEP Resources Inc (QEP) jumped 4.2% or 35 cents to $8.73 after the crude oil and natural gas explorer agreed to sell its wholly owned subsidiaries, QEP Energy Company, QEP Marketing Company, and QEP Oil & Gas Company to Aethon Energy Management LLC for $735 million.

The agreement provisions to sell the Louisiana-based oil and gas assets in the Haynesville-Cotton Valley.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc