Home > Investing > Stocks Making News 06/11/2011

Stocks Making News 06/11/2011

June 13, 2011

stock market newsVF to Acquire Timberland

Footwear and apparel company Timberland agreed to be acquired by jeans maker VF for $43 a share. That’s a big premium, and TBL is up 42 percent before the bell.

Private-Equity Buyers Target Arby’s

Wendy’s/Arby’s Group agreed to sell a majority stake in Arby’s Restaurant Group to private-equity investors for $320 million in assumed debt and stock. WEN will also receive an income-tax benefit of $80 million and keep 18.5 percent of the business. WEN climbs 6 percent before the bell.

Transatlantic Getting Bought by Allied World

Re-insurer Translatlantic Holdings agreed to be acquired by Allied World Assurance for $3.2 billion. TRH investors will receive 0.88 share in AWH, valuing TRH at $51.10. TRH pops 17 percent in the pre-market.

Ness Technologies Acquired by Citi

Ness Technologies, a provider of IT services and software distribution, will be acquired by Citi Venture Capital International for $7.75 a share in cash. NSTC pops 14 percent before the bell.

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