Oracle & Micros Systems
Oracle sealed a deal to buy Micros Systems, its biggest acquisition since 2010. The tech giant will pay $5 billion for the company, which makes software for restaurants and hotels. The move is an effort to reignite slowing growth, just last week Oracle reported disappointing earnings. Shares of Oracle rose a fraction to $41.10, Micros Systems saw its shares pop more than three percent to $67.97.
General Electric & Alstom
Alstom has now finally agreed to sell most of its energy business to General Electric after months of negotiations. We told you last week that as part of the deal the French government will acquire a 20% stake in Alstom. The $17 billion purchase is GE’s biggest acquisition ever. Despite the news shares of GE were down one percent to $26.68.
Wisconsin Energy & Integrys
Wisconsin Energy and Integrys are merging in a deal valued at more than $9 billion. The combined utility will serve more than four million gas and electric customers in Wisconsin, Illinois, Michigan and Minnesota. Shares of Wisconsin Energy fell more than 3 percent to $45.27, but shares of Integrys surged 12 percent to $68.35.
Allergan & Valeant
Another update on the Allergan and Valeant takeover battle. Allergan advised its investors not to sell their shares to Valeant. Valeant launched a hostile takeover bid for Allergan last week. The Botox maker called the unsolicited offer “grossly inadequate.” Shares of both Allergan and Valeant fell slightly today: Allergan closed at $164.82 and Valeant $121.21.
Nordic American Offshore
Shares of Nordic American Offshore surged on news that investor Leon Cooperman reported a 21.8% stake in the company. Nordic is a supplier of offshore energy vessels and its went public earlier this month. Shares jumped more than 13 percent to $18.76.
Abbvie upped its 2014 earnings forecast. The drugmaker, which is trying to buy Dublin-based Shire for $46 billion cited strong business performance and said that it expects to continue to do well throughout the year. Shares rose a fraction to $53.75.