U.S. Movers: AIG, BlackRock, LSI, Opko Health, Sprint, USEC

Mukesh Buch
16 Dec, 2013
New York City

LSI agreed to be acquired by Singapore-based chip maker Avago for $6.6 billion. AIG agreed to sell its aircraft leasing business to AerCap. BlackRock said it has complied with the Italian disclosure requirement for its stake in Telecom Italia.

[R]11:20 AM New York – LSI agreed to be acquired by Singapore-based chip maker Avago for $6.6 billion. AIG agreed to sell its aircraft leasing business to AerCap. BlackRock said it has complied with the Italian disclosure requirement for its stake in Telecom Italia.[/R]

American International Group Inc ((AIG)) increased 1.5% or 72 cents to $50.45 after the reached a deal to sell its 100% interest in International Lease Finance Corp to AerCap Holdings N.V. The transaction is expected to close in the second quarter of 2014.

BlackRock, Inc ((BLK)) jumped 1.7% or $4.95 to $302.75 and the asset manager said it has complied with Italian disclosure requirements. The investment company holds 7.783% voting rights in Telecom Italia, according to media reports.

Telecom Italia said today it had no information from BlackRock regarding increase of its stake to 10.14% as shown by U.S. regulatory filings.

LSI Corporation surged 38.6% or $3.06 to $10.97 after the storage and networking chip developer agreed to be acquired by Singapore-based chip maker Avago Technologies Ltd for $11.15 a share in a deal valued at $6.6 billion.

Opko Health Inc ((OPK)) rose 4 cents to $9.01 after the pharmaceutical company agreed to acquire a Uruguay based Laboratorio Arama de Uruguay Limitada. The transaction is expected to close in January.

Sprint Corporation ((S)) gained 2.7% or 23 cents to $8.65 on media speculation that the company is seeking to takeover T-Mobile.

USEC Inc ((USU)) tumbled 56.3% or $4.95 to $3.86 after the energy company said it expects to file for bankruptcy protection as part of a deal with its bondholders.

As of Sept., the uranium producer had total debt of $640.4 million and cash and equivalents of $128.4 million.