Among the companies with shares expected to actively trade in
Monday's session are Onyx Pharmaceuticals Inc. (ONXX), Nokia Corp.
(NOK, NOK1V.HE) and Acura Pharmaceuticals Inc. (ACUR).
Onyx Pharmaceuticals said it is seeking potential buyers after
rejecting an unsolicited acquisition offer from Amgen Inc. (AMGN)
of around $8.7 billion, based on shares outstanding, potentially
setting the stage for a bidding war for the cancer-drug developer.
Amgen's bid valued the biotech company at $120 a share, or about
38% more than its closing price Friday of $86.82. Onyx shares
jumped 50% to $130.25 premarket.
Nokia signaled an end to its tie-up with Siemens AG (SI,
SIE.XE), announcing a 1.7 billion euro ($2.2 billion) deal to buy
its German partner out of the two companies' telecom equipment
joint venture Nokia Siemens Networks. Nokia will pay EUR1.2 billion
in cash for Siemens's 50% stake when the deal is completed in the
third quarter and NSN will become a wholly-owned unit of Nokia,
subject to regulatory approval. The balance will be paid in the
form of a secured loan from Siemens due a year later. Nokia's
American depositary shares rose 7.2% to $4.01 premarket.
Acura Pharmaceuticals said that Pfizer Inc. (PFE) will expand
commercialization of a pain drug that uses the specialty
pharmaceutical company's tamper-resistant technology. Acura has
exclusively licensed its Aversion technology to Pfizer in the U.S.,
Canada and Mexico for use in Oxecta, an immediate-release oxycodone
with a tamper-resistant design that inhibits recreational use of
the drug. Acura receives tired royalties ranging from 5% to 25% on
net sales of Oxecta. Shares rose 23% to $2.32 premarket.
InterDigital Inc. (IDCC) said an administrative law judge
overseeing patent-infringement claims against Nokia, Huawei
Technologies Co. and ZTE Corp. (ZTCOY, 000063.SZ, 0763.HK) found
that one of the wireless-technology company's patents were
infringed but that the patent was invalid and that another six
patents weren't infringed. InterDigital's shares sank 18% to $36.53
premarket.
Watchlist:
Fleetmatics Group PLC (FLTX) said it plans to offer
eight-million shares, of which, seven million are being sold by
certain shareholders. The provider of fleet-management software had
more than 34.6 million shares outstanding as of March 31.
Fitch Ratings upgraded its rating on Flowserve Corp. (FLS) one
notch further into investment grade, citing the diversified
manufacturer's strong credit metrics and solid operating
performance.
Health Management Associates Inc. (HMA) urged its shareholders
not to respond to an effort by hedge fund Glenview Capital
Management to overhaul the company's board.
KIT digital Inc.'s (KITDQ) insurers have agreed to pay $6
million to resolve a series of securities lawsuits tied to the tech
company's accounting and acquisitions.
News Corp. has completed the separation of its publishing
company, which is called News Corp (NWSA, NWS), from its
entertainment divisions, a separate publicly traded company called
21st Century Fox (FOXA, FOX). News Corp owns The Wall Street
Journal and Dow Jones Newswires.
Tellabs Inc.'s (TLAB) acting finance chief is resigning to
become chief financial officer at fellow telecom-equipment provider
Westell Technologies Inc. (WSTL).
Write to Anna Prior at anna.prior@dowjones.com
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