Among the companies with shares expected to actively trade in
Monday's session are Power-One Inc. (PWER), Met-Pro Corp. (MPR) and
Halliburton Co. (HAL).
Swiss power and automation technology company ABB Ltd. (ABB,
ABBN.VX) Monday said it and Power-One, a maker of power-supply
products, have agreed to a transaction in which ABB will acquire
Power-One for $6.35 per share in cash, or $1.03 billion equity
value. ABB will pay roughly $6.35 a share for Power-One. Power-One
shares rose 56% to $6.30 premarket.
Pollution-control company Met-Pro agreed to be acquired by peer
CECO Environmental Corp. (CECE) in a $210 million cash-and-stock
deal. The deal works out to about $13.75 a share for Met-Pro, $7.25
a share in cash and $6.50 a share in stock. Met-Pro shares rose 48%
to $14.16 premarket.
Halliburton swung to a first-quarter loss on a $637 million
increase in reserves to litigation involving the Deepwater Horizon
disaster, while elsewhere growth in the oilfield-services company's
international activity again helped offset weakness in North
America. Shares rose 4.1% to $38.74 premarket as adjusted earnings
and revenue topped expectations and the company predicted margins
would strengthen as the year progresses.
Watchlist:
B/E Aerospace Inc.'s (BEAV) first-quarter earnings rose 31% and
topped consensus estimates as the aircraft-products maker continued
to benefit from the delivery of new aircraft.
Caterpillar Inc.'s (CAT) first-quarter earnings fell 45% amid a
broad-based revenue decline as the heavy-equipment maker was hurt
by falling demand for its mining equipment. Results missed
expectations.
Check Point Software Technologies Ltd.'s (CHKP) first-quarter
earnings rose 3% as increased software-update revenue continued to
help offset the Internet-security company's weaker
product-and-licenses revenue.
A large shareholder of Donegal Group Inc. (DGICB, DGICA) has
amended the terms of a recent tender offer for some of the
company's Class B shares after receiving a weak response from
shareholders.
Hasbro Inc.'s (HAS) first-quarter loss widened, partly due to
more restructuring charges, while the toy maker posted improved
revenue from three of its four product categories.
Office Depot Inc.'s (ODP) largest shareholder, Starboard Value
LP, is planning to take its bid to seat its own candidates on the
office-products retailer's board to shareholders through a consent
solicitation, continuing a months-long fight at the company.
Sprint Nextel Corp. (S) confirmed its board has formed a special
committee to evaluate a $25.5 billion acquisition offer from DISH
Network Corp. (DISH).
Stillwater Mining Co. (SWC) said it disagrees with two proxy
firms' backing of dissident shareholder Clinton Group Inc.'s board
slate and again urged shareholders to support its director
nominees.
Write to Anna Prior at anna.prior@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires