Today's Big Gainers: ME, SHS, CCRT
Thursday, April 15, 3:22 PM ET

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Under the agreement, Mariner shareholders will receive, in aggregate, 0.17043 of a share of Apache common stock and $7.80 in cash for each outstanding share of Mariner's common stock, subject to an election feature and proration.

At Apache's closing stock price of $108.06 on April 14, 2010, the transaction values Mariner's shares at $26.22 per share or approximately $2.7 billion. Apache also will assume $1.2 billion in debt.

Shares of Mariner are up over 41.25%.

The Special Committee of the Board of Directors of Sauer-Danfoss (SHS) announced that management of the Company has informed the Committee that preliminary first quarter financial results were stronger than expected with total sales of $387 million, EBITDA adjusted to exclude one-time charges of $75 million and EBIT adjusted to exclude one-time charges, of $50 million.

Management also informed the Committee that it has preliminarily increased its forecast for total sales for full year 2010 to $1.40 billion from $1.34 billion and is evaluating the appropriate increase to its forecasts for EBITDA and EBIT for the full year.

The Special Committee is considering these preliminary first quarter results and the impact such preliminary results may have on its previous recommendation that the Company’s stockholders accept Danfoss’ offer and tender their shares of the Company’s common stock in the offer.

Sauer-Danfoss shares are higher by more than 9%.

CompuCredit Holdings (CCRT) announced that it has commenced a cash tender offer for its outstanding 3.625% Convertible Senior Notes due 2025, up to the aggregate principal amount of the notes equal to a total purchase price of $100 million, at a purchase price to be determined by a Modified Dutch Auction procedure and for shares of its outstanding common stock, no par value per share, in a number of shares equal to the number of such shares allowable for purchase from the tender cap remaining, if any after deducting from the tender cap the total purchase price of the notes actually purchased pursuant to tender offer, at a purchase price of $7.00 per share.

On the announcement, shares of CompuCredit are up 16%.

For MarketNewsVideo.com, I'm Sayoko Murase.