U.S. Movers: Covidien, Chevron, McKesson, Rosneft, WellPoint

Mukesh Buch
26 Dec, 2012
New York City

Covidien agreed to acquire CV Ingenuity. Chevron buys 50% stake in Kitimat LNG project. Rosneft signed loan agreements for stake in Russian oil firm TNK-BP. WellPoint completed acquisition of Amerigroup.

[R]10:30 AM New York – Covidien agreed to acquire CV Ingenuity. Chevron buys 50% stake in Kitimat LNG project. Rosneft signed loan agreements for stake in Russian oil firm TNK-BP. WellPoint completed acquisition of Amerigroup.[/R]

Covidien Plc, slid 16 cents to $57.02 after the Ireland based medical equipments maker agreed to acquire CV Ingenuity and expects to complete the acquisition in the first quarter of 2013. Financial terms of transaction were not disclosed.

Chevron Corporation ((CVX)) gained 46 cents to $109.10 after the integrated energy company said its Canadian subsidiary will acquire 50% operating interest in the Kitimat liquefied natural gas and expand shale gas resources at basins of Liard and Horn River in British Columbia.

Under the terms, Chevron Canada Limited will acquire all the interests currently owned by affiliates of EOG Resources Canada Inc. and Encana Corporation in the proposed Kitimat LNG Project.

McKesson Corporation ((MCK)) dropped 19 cents to $97.34 after the biotechnology company agreed to buy PSS World Medical, Inc. ((PSSI)). The acquisition is expected to close in the first quarter of 2013. On October 25, McKesson offered all outstanding shares of PSS World for $29 per share in cash or transaction valued $1.46 billion.

NK Rosneft’ OAO, the Russia based exploration company signed two loan agreements with a group of international banks for the total amount of $16.8 billion to finance the acquisition of 50% stake in Russian oil firm TNK-BP from BP.

Pursuant to the loan agreements, Rosneft obtained 5-year loan of $ 4.1 billion and a 2 year loan of $12.7 billion.

WellPoint, Inc. ((WLP)) climbed 38 cents to $61.45 after the insurance company completed acquisition of Amerigroup Corporation ((AGP)), a healthcare provider. On July 9, WellPoint offered $92 per share in cash to acquire Amerigroup with transaction value of approximately $4.9 billion.