Zoll Medical Corp. (ZOLL) is jumping 24 percent to $93.64 as Japan's Asahi Kasei Corp. has agreed to purchase the company for about $2.21 billion. Asahi Kasei, through a U.S. subsidiary, will make a cash tender offer for ZOLL common shares at $93 per share.
Pacific Capital Bancorp (PCBC) is jumping 60 percent to $45.95 based on the news that UnionBanCal Corp. has entered into a definitive agreement to acquire the company for $46 per share in cash.
PepsiCo, Inc. (PEP) is up 1 percent to $63.79. The company announced a new global structure, under which its global groups will work across the regions to fully leverage the power and scale of the company, while the regions retain ownership of the P&L. Former PepsiCo executive Brian Cornell has rejoined the company as CEO, PepsiCo Americas Foods, while current PepsiCo Americas Foods CEO John Compton has been named to a new position - President, PepsiCo.
Tudou Holdings Limited (TUDO) is surging 197 percent to $45.69. Tudou have signed a definitive agreement to combine with Youku Inc. (YOKU) in a 100 percent stock-for-stock transaction. Upon completion, the combined entity will be named Youku Tudou Inc. Youku's ADSs will continue to be listed on the NYSE under the symbol "YOKU". YOKU is up 22 percent to $30.61.
Anthera Pharmaceuticals, Inc. (ANTH) is plunging 53 percent to $3.00 based on the news that the VISTA-16 Data Safety Monitoring Board has recommended stopping the VISTA-16 clinical study due to a lack efficacy that could not be reasonably overcome in the remainder of the trial.
by RTT Staff Writer
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