On Monday, Shares of Altera Corp. (NASDAQ:ALTR), gained 5.79% to $51.68, hitting it highest level.
Intel Corporation (INTC) and Altera Corporation (ALTR), declared a definitive agreement under which Intel would acquire Altera for $54 per share in an all-cash transaction valued at about $16.7 billion.
The acquisition will couple Intel’s leading-edge products and manufacturing process with Altera’s leading field-programmable gate array (FPGA) technology. The combination is predictable to enable new classes of products that meet customer needs in the data center and Internet of Things (IoT) market segments. Intel plans to offer Altera’s FPGA products with Intel Xeon® processors as highly customized, integrated products. The companies also expect to enhance Altera’s products through design and manufacturing improvements resulting from Intel’s integrated device manufacturing model.
Altera will become an Intel business unit to facilitate continuity of existing and new customer sales and support. Intel plans to continue support and development for Altera’s ARM-based and power administration product lines.
The transaction is predictable to be accretive to Intel’s non-GAAP EPS and free cash flow in the first year after close. Intel intends to fund the acquisition, which is predictable to close within six to nine months, with a combination of cash from the balance sheet and debt.
The transaction has been unanimously approved by the Intel and Altera Boards of Directors and is subject to certain regulatory approvals and customary closing conditions, counting the approval of Altera’s stockholders.
J.P. Morgan Securities LLC and Rothschild Inc. are serving as financial advisors and Gibson, Dunn & Crutcher LLP and Weil, Gotshal & Manges LLP are serving as legal advisors to Intel. Goldman, Sachs & Co. is serving as the exclusive financial advisor to Altera and Wilson Sonsini Goodrich & Rosati, Professional Corporation, is serving as legal advisor to Altera.
Altera Corporation, a semiconductor company, designs and sells programmable logic devices (PLDs), HardCopy application-specific integrated circuit (ASIC) devices, power system-on-chip devices (PowerSoCs), pre-defined design building blocks, and associated development tools.
Shares of Oncothyreon Inc (NASDAQ:ONTY), inclined 15.79% to $3.96, hitting its highest level, following the clinical stage biopharmaceutical company’s presentation at this year’s annual American Society of Clinical Oncology (ASCO) conference in Chicago.
The shares were rising after the company made a presentation showing that its HER2-positive metastatic breast cancer treatment candidate ONT-380 is effective and different from other current treatments.
The company showed that ONT-380 was successful in meaningfully shrinking of tumors in patients who were a part of the study because they were no longer responding to other preceding treatments.
Oncothyreon Inc., a clinical-stage biopharmaceutical company, engages in the research and development of therapeutic products for the treatment of cancer. Its clinical-stage product candidates comprise ONT-380, an orally active and selective small-molecule HER2 inhibitor, which is in two Phase 1b trials, one in combination with Kadcyla and another in combination with Xeloda and/or Herceptin; and ONT-10, a therapeutic vaccine in Phase 1 trial targeting the Mucin 1 peptide antigen (MUC1) for use in various cancer indications, counting breast, thyroid, colon, stomach, pancreas, ovarian, and prostate, in addition to certain types of lung cancer.
At the end of Monday’s trade, Shares of UnitedHealth Group Incorporated (NYSE:UNH), lost -0.29% to $119.86.
The Board of Directors of UnitedHealth Group Incorporated declared the results of shareholder voting that took place during the Company’s 2015 annual meeting.
- UnitedHealth Group directors stand for election annually. The Company’s shareholders elected all those nominated to the Board of Directors: William C. Ballard, Jr., Edson Bueno, M.D., Richard T. Burke, Robert J. Darretta, Stephen J. Hemsley, Michele J. Hooper, Rodger A. Lawson, Glenn M. Renwick, Kenneth I. Shine, M.D., and Gail R. Wilensky, Ph.D.
- Shareholders cast advisory votes approving the Company’s executive compensation.
- Shareholders approved amendments to the 2011 Stock Incentive Plan.
- Shareholders voted in favor of reincorporating the company in Delaware.
- Shareholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm.
- Shareholders rejected a shareholder proposal regarding the board chair position.
UnitedHealth Group Incorporated operates as a diversified health and well-being company in the United States. The company’s UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; and health care coverage, and health and well-being services to individuals aged 50 and older addressing their needs for preventive and acute health care services.
Finally, Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX), ended its last trade with 1.21% gain, and closed at $14.24. The company exchanged hands with 3,734,926 shares as compared to its average daily volume of 3,010,360 shares. The company has the market capitalization of 2.58B.
Allscripts (MDRX), declared East Kent Hospitals University NHS Foundation Trust and Maidstone and Tunbridge Wells NHS Trust have each signed a contract to deploy Allscripts PASTM. The Allscripts PAS will replace the Trusts’ existing system and will empower the originations to use a highly flexible and configurable solution to manage patient data. Allscripts PAS is used across the National Health Service (NHS) in more than a dozen trusts and hospitals.
These deployments reflect Allscripts continued expansion and progress in the UK. Last month, the company was awarded a place on the NHS SBS Clinical Information Systems Framework. The Framework can assist NHS Trusts by providing access to critical technology like the solutions Allscripts’ offer, reducing procurement costs and enabling the NHS Trusts to localise their requirements. Allscripts was named in five of the six SBS categories.
Allscripts Healthcare Solutions, Inc. provides clinical, financial, electronic health records (EHR), connectivity, hosting, outsourcing, analytics, patient engagement, and population health products and services in the United States and Canada. It operates in three segments: Clinical and Financial Solutions, Population Health, and Managed Services.
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