China Based Fosun Acquires Meadobrook, Pacific Ethanol Buys Aventine

Mukesh Buch
31 Dec, 2014
New York City

Meadowbrook agreed to be acquired by China-based conglomerate Fosun Intl for $433 million. Under Armour signed a 4-year partnership with Andy Murray for

[R]11:30 AM New York – Meadowbrook agreed to be acquired by China-based conglomerate Fosun Intl for $433 million. Under Armour signed a 4-year partnership with Andy Murray for £15 million. VSE Corp agreed to acquire four business units of Killick Aerospace for $184 million.[/R]

Tollbooth Strategy Index increased 0.4% or 38.51 to 10,181.55 and increased 13.89%.

The index has beaten the S&P 500 index for the thirteenth times in the last fifteen years.

Earnings Review

Ariad Pharmaceuticals, Inc ((ARIA)) jumped 2.2% or 15 cents to $6.97 after the biopharmaceutical company amended licensing agreement with Bellicum Pharmaceuticals, Inc for cell-signaling technology.

Bellicum will acquire the worldwide license for $50 million paid over three installments for broad use in human cell therapies for all diseases on royalty- and milestone-free basis.

Meadowbrook Insurance Group, Inc ((MIG)) surged 19.3% or $1.38 to $8.51 after the property and casualty insurance company agreed to be acquired by China-based conglomerate Fosun International Limited for about $433 million.

The offer price of $8.65 per share represents 21% premium over closing price of $7.13 of Meadowbrook on December 30.

Pacific Ethanol Inc ((PEIX)) declined 3.1% or 33 cents to $10.38 after the low-carbon renewable energy producer agreed to acquire Aventine Renewable Energy Holdings, Inc in a stock-for-stock transaction.

Aventine will act as wholly-owned subsidiary of Pacific Ethanol and the company had an $135 million in term loan debt.

The transaction is expected to close in the second-quarter of 2015.

Under Armour Inc ((UA)) gained 1% or 69 cents to $69.02 after the apparel, footwear and accessory maker signed a 4-year partnership with world number six-ranked tennis player Andy Murray for about £15 million to boost its international sales.

VSE Corporation ((VSEC)) surged 8.1% or $4.97 to $66.18 after the engineering and logistic company agreed to acquire four businesses including United States and Europe based units from Killick Aerospace Group for about $184 million in cash.