PPG and Linn Energy Deals; TreeHouse Buys Flagstone Foods

Mukesh Buch
30 Jun, 2014
New York City

MannKind jumped on FDA approval. Kindred Healthcare will clear to buy Gentiva Health Services. PPG agreed to buy Consorcio Comex for $2.3 billion. Linn Energy acquired five assets of Devon Energy for $2.3 billion. TreeHouse Foods purchased Flagstone Foods for $860 million.

[R]12:20 PM New York – MannKind jumped on FDA approval. Kindred Healthcare will clear to buy Gentiva Health Services. PPG agreed to buy Consorcio Comex for $2.3 billion. Linn Energy acquired five assets of Devon Energy for $2.3 billion. TreeHouse Foods purchased Flagstone Foods for $860 million.[/R]

Dicerna Pharmaceuticals Inc ((DRNA)) surged 19.2% or $3.62 to $22.47 after the biopharmaceutical company said its pre-clinical data promising of DCR-PH1 for the treatment of primary inherited liver disorder.

MannKind Corporation ((MNKD)) climbed 9.2% or 92 cents to $10.92 after the U.S. Food and Drug Administration has approved company''s inhalable insulin drug Afrezza to control insulin levels with a warning label for people with lung diseases.

The powder helps to control blood sugar levels, suffering with diabetes mellitus.

Kindred Healthcare, Inc ((KND)) slipped 1.5% or 36 cents to $23.03 after the healthcare service provider said it may revise or withdraw its offer to buy Gentiva Health Services Inc.

PPG Industries Inc ((PPG)) jumped 2.9% or $5.97 to $210.02 after the painting and coating company agreed to acquire Mexico-based paints maker Consorcio Comex SA de CV for $2.3 billion.

Linn Energy LLC ((LINE)) gained 1.6% or 47 cents to $32.36 after the oil and natural gas explorer signed an agreement to acquire five operating assets areas of the U.S. from Devon Energy Corporation for $2.3 billion.

The transaction is expected to close in the third quarter.

TreeHouse Foods Inc ((THS)) increased 1% or 85 cents to $80.67 after the grocery and foodservice retailer agreed to acquire Flagstone Foods, the private healthy snacks provider for $860 million in cash from Gryphon Investors and other stake holders.