U.S. Movers: Acuity Brands, Bristol-Myers, Barclays, Dell, Lincare

Mukesh Buch
02 Jul, 2012
New York City

Bristol-Myers agreed to acquire Amylin for $5.3 billion. Dell to buy Quest Software deal $2.4 billion in cash. Ingram agreed to acquire BrightPoint valued $840 million. Medical equipment maker Lincare signed a deal with Linde Group in a cash of $4.6 billion.

[R]11:00 AM New York – Bristol-Myers agreed to acquire Amylin for $5.3 billion. Dell to buy Quest Software deal $2.4 billion in cash. Ingram agreed to acquire BrightPoint valued $840 million. Medical equipment maker Lincare signed a deal with Linde Group in a cash of $4.6 billion.[/R]

Acuity Brands, Inc. ((AYI)) soared 10.1% or $5.12 to $56.03 after the lighting fixtures provider reported total revenue in the third quarter ending in May grew 6.4% to $487.5 million compared to $458.3 million in the same period last year. Net income in the quarter increased 11% to $33.6 million or 79 cents per diluted share compared to $27.1 million or 62 cents per share a year ago earlier.

AMC Networks Inc. ((AMCX)) fell 2 cents to $35.53 after the holding company of pay channel signed a long-term agreement with AT&T Inc. cable network customers to broadcast AMC, IFC, We TV and Sundance channels. However, financial terms are not disclosed.

Bristol-Myers Squibb Company ((BMY)) rose 8 cents to $36.03 after the biopharmaceuticals agreed to acquire Amylin Pharmacuticals, Inc. for $31 a share in cash or valued at $5.3 billion. AstraZeneca will make payment to Amylin of $3.4 billion in cash to partner with Bristol-Myers to develop and market diabetic drugs.

Barclays PLC ((BCS)) gained 2.9% or 30 cents to $10.60 after the UK based financial services provider today announced the resignation of its Chairman, Marcus Agius. Agius will also resign from the industry association responsible for publishing and monitoring of Libor, the rate used as reference rate by trillions of dollars of international contracts.

Dell Inc. ((DELL)) slid 8 cents to $12.43 after the holding company said it will buy enterprise management software maker Quest Software Inc for $2.4 billion in cash or $28 a share in cash. The transaction is expected to close in fiscal third quarter.

Ingram Micro Inc. ((IM)) increased 2.2% or 40 cents to $17.87 after the technology products distributor agreed to acquire BrightPoint, Inc. ((CELL)) for $9 a share in cash at a premium of 66% or $840 million including debt of about $190 million as of June 30. The transaction is expected to close before end of this year.

Ixia ((XXIA)) fell 9 cents to $11.93 after the network testing system provider agreed to acquire BreakingPoint Systems, Inc. a security testing services provider for $160 million in cash. The transaction is anticipated to close in the third quarter of this year.

Lincare Holdings Inc. ((LNCR)) surged 21.4% or $7.30 to $41.32 after the medical equipments provider said Munich based The Linde Group agreed to acquire the company for $41.50 a share represents premium of 64% or $4.6 billion in cash. Linde plans to pay for the acquisition with the help of a loan to fund the deal and refinance debt through securities offering.

Micron Technology, Inc. ((MU)) advanced 4.8% or 30 cents to $6.61 after the memory chip maker agreed to buy Japan based chipmaker Elpida Memory Inc. in a transaction valued at 200 billion yen or $2.5 billion. However, the company faced legal proceedings in the District Court of Tokyo. The transactions is targeted to close in the first half of 2013.