Among the companies with shares expected to actively trade in
Monday's session are Sprint Corp. (S), NuPathe Inc. (PATH) and
Solta Medical Inc. (SLTM).
Sprint is working toward a possible bid for rival T-Mobile US
Inc. (TMUS), the Wall Street Journal reported, setting the stage
for a telecom merger that if permitted by regulators would leave
the U.S. wireless market dominated by three big companies. Sprint
is studying regulatory concerns and could launch a bid in the first
half of next year, the Journal reported. Sprint shares were up 4%
to $8.77 premarket and T-Mobile was down 14 cents at $27.50.
American depositary shares of Deutsche Telekom AG (DTEGY, DTE.XE),
which holds a majority stake in T-Mobile, were up 2.8% at
$16.05.
Endo Health Solutions Inc. (ENDP) agreed to acquire
pharmaceutical company NuPathe Inc. (PATH) for about $105 million
to gain the company's new migraine treatment. Endo will acquire
NuPathe for $2.85 per share, a 24% premium to its close of $2.30 on
Friday. NuPathe shareholders will receive rights to receive
additional cash payments of up to $3.15 per share if the company's
migraine treatment Zecuity meets certain sales milestones. NuPathe
shares were up 51% at $3.48 in premarket trading.
Harvest Natural Resources Inc. (HNR) agreed to sell all the
company's interest in Venezuela for $400 million in cash, as the
energy company moves forward with its plans to sell itself. Shares
were up 24% at $4.89 premarket.
Valeant Pharmaceuticals International Inc. (VRX) agreed to
acquire medical device company Solta Medical Inc. (SLTM) for $250
million to increase its offerings in the growing aesthetic medicine
market. Valeant is offering Solta shareholders $2.92 a share, a 40%
premium to its Friday close of $2.09. Solta shares were up 39% at
$2.91 premarket.
Watch List:
Allegheny Technologies Inc. (ATI) intends to close a Connecticut
facility in 2014, a move the metal processor said will result in a
$9.2 million charge to be recorded in the fourth quarter.
Asset management firm The Carlyle Group LP (CG) agreed to invest
$200 million over three years to fund an oil-and-gas exploration
companies offshore drilling programs in New Zealand and the Union
of the Comoros.
Write to Tess Stynes at tess.stynes@wsj.com
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