Today's Big Gainers: VARI, ONB, WBS, ABD Monday, July 27, 2:29 PM ET
Scientific equipment supplier Agilent Technologies (NYSE:A) announced today it has signed a definitive agreement to acquire Varian, a worldwide supplier of scientific instrumentation and associated consumables for life science and applied market applications.
Agilent will pay $52 cash per share of common stock for Varian in a transaction that represents a premium of approximately 35% to Varianís closing price on July 24. Both Agilentís and Varianís Board of Directors have unanimously approved the all-cash offer.
The news of the acquisition is driving shares of Varian higher by almost 29% to $50.56.
Old National Bancorp (NASDAQ:ONB) announced second-quarter net income of $9.6 million, or 15 cents per common share, up almost 90% from first quarter net income. These results easily beat analyst estimates and are driving shares higher in mid-day trading, up over 18% to $11.60.
Webster Financial Corporation (NYSE:WBS) today announced that Warburg Pincus, the global private equity firm, has agreed to invest $115 million in Webster through a direct purchase of newly issued common stock at $10 per share, junior non-voting preferred stock, and warrants. The common stock was issued at a four percent premium to Friday's closing price and this sent the stock soaring Monday morning.
Webster Financial is trading at $11, up 14.23%.
And, ACCO Brands Corporation (ABD), which makes branded office products, reported its second quarter and six month results for the period ended June 30, 2009. While the company reported a loss from continuing operations of $120.4 million, or $2.21 per diluted share, for the six months ending June 30, 2009, results beat analyst expectations, driving shares higher.
ACCO shares are at $4.83, soaring higher by over thirty percent.
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