On Wednesday, Shares of Pall Corporation (NYSE:PLL), gained 4.44% to $123.89, hitting its highest level.
Pall Corporation, declared it has agreed to be attained by Danaher Corporation (DHR) for $127.20 per share in cash, or $13.8 billion counting assumed debt and net of attained cash.
The consideration represents about a 28 percent premium to Pall’s common stock over the closing price of $99.31 on May 11, 2015, the last trading day preceding to initial media speculation around a possible transaction. The transaction is not subject to any financing conditions. Upon completion of the transaction, Pall will operate as a partner in Danaher’s portfolio and will maintain its brand.
The transaction is subject to customary closing conditions, counting approval by Pall shareholders and is predictable to close in calendar 2015.
The legal advisor to Pall for this transaction is Shearman & Sterling LLP. Goldman, Sachs & Co. served as the exclusive financial advisor to Pall.
Pall Corporation manufactures and markets filtration, separation, and purification products; and integrated systems solutions worldwide. Its Life Sciences segment provides technologies that facilitate the process of drug discovery, development, regulatory validation, and production, which are used in the research laboratories, pharmaceutical, biotechnology, and food and beverage industries, in addition to in hospitals.
Shares of Honeywell International Inc. (NYSE:HON), inclined 2.08% to $104.44, during its last trading session.
UOP LLC, a Honeywell, declared that its process technology, catalysts and proprietary equipment will form the basis for the largest refinery in Africa, reducing Nigeria’s dependence on imported fuels and petrochemicals.
Dangote Oil Refining Company selected UOP technology for a world-scale integrated refinery and petrochemical plant to be built in Lekki, near the capital of Lagos in southwestern Nigeria.
Nigeria has the second-largest amount of proven oil reserves in Africa – an estimated 37.2 billion barrels, according to Oil & Gas Journal. However, the country presently imports most of its refined product requirements due to lack of domestic refining capacity.
The Dangote Group is the largest industrial conglomerate in West Africa and one of the largest in Africa. The company has a number of interests, counting cement, real estate, oil, natural gas, telecommunications, fertilizer and steel. The Group focuses on local, value-added products and services that meet the needs of the African population.
In addition to processing crude oil to produce high-quality gasoline, diesel and jet fuel that meet Euro V specifications for reduced emissions, the new facility will produce world-scale quantities of polypropylene, a key petrochemical used in plastics and packaging.
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers and operators, airlines, military services, and defense and space contractors; and spare parts, and repair and maintenance services for the aftermarket.
At the end of Wednesday’s trade, Shares of Bristol-Myers Squibb Company (NYSE:BMY), lost -0.15% to $67.40.
Bristol-Myers Squibb Company, declared new clinical research from three of its Immuno-Oncology agents will be presented at the 51st Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago from May 29-June 2. Building on the scientific advances the company has pioneered in Immuno-Oncology, Bristol-Myers Squibb will present data for Opdivo and Yervoy across multiple solid tumor types, in addition to elotuzumab in relapsed or refractory multiple myeloma.
Data to be presented at ASCO illustrate Bristol-Myers Squibb’s commitment to developing treatment options with the potential to offer patients with cancer the possibility of long-term survival through its transformative Immuno-Oncology research.
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Finally, Discovery Laboratories Inc. (NASDAQ:DSCO), ended its last trade with 15% surge, and closed at $1.15.
Discovery Laboratories, will declare top-line results from its AEROSURF® Phase 2a clinical trial in premature infants 29 – 34 gestational age with respiratory distress syndrome (RDS) on Thursday, May 14, 2015 at about 7:00 a.m. EDT.
Discovery Laboratories, Inc., a specialty biotechnology company, focuses on developing products for critical-care patients with respiratory disease and improving care in pulmonary medicine. Its proprietary drug technology produces a synthetic peptide-containing surfactant (KL4 surfactant in liquid, lyophilized, and aerosolized dosage forms), in addition to develops drug delivery technologies to enable efficient delivery of its aerosolized KL4 surfactant.
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