Among the companies with shares expected to trade actively in
Monday's session is Precision Castparts Corp.
Warren Buffett's Berkshire Hathaway Inc. on Monday said it
agreed to buy Precision Castparts for about $32 billion in cash in
what would be the conglomerate's largest takeover ever. The offer
of $235 a share is a 21% premium to Precision's closing price on
Friday. Precision shares surged 19% to $231.10 premarket, while
Berkshire's Class A shares slipped fractionally to $215,330.
Dean Foods Co.'s profit topped expectations in the second
quarter as resilience in its pricing helped to offset declining
volumes. Shares edged up 1.2% to $17.95 premarket.
Mallinckrodt PLC said Monday that it would buy privately held
immunotherapy company Therakos Inc. for about $1.325 billion, the
latest deal for the acquisitive pharmaceutical company.
Mallinckrodt climbed 1.6% to $102 a share in light premarket
trading.
Rentech Nitrogen Partners LP has agreed to merge with CVR
Partners LP in a $533 million deal that will create a large player
in the North American nitrogen fertilizer industry. Rentech shares
surged 21% to $12.44 in light premarket trading.
Other stocks in focus:
Apollo Education Group Inc. said Friday it had received a
subpoena from the California attorney general seeking information
about marketing by its University of Phoenix unit to members of the
military and the National Guard. For-profit colleges have been
under scrutiny in recent years from claims that they are
overcharging students for educations that aren't producing
long-term results.
Endo International PLC on Monday reported better-than-expected
earnings in its second quarter, as the company's sales received a
boost from recent acquisitions.
Sysco Corp. said profit in its latest quarter fell, as the
company booked charges stemming from its abandoned plan to acquire
rival US Foods Inc. The bottom line still topped analysts'
expectations.
Write to Maria Armental at maria.armental@wsj.com
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