ADC Telecommunications (NASDAQ:ADCT) soared 41.47% to $12.52 on an unusual volume of 70.69 million shares. Tyco Electronics (TEL) this morning announced a deal to acquire ADC Telecommunications (ADCT) for $12.75 a share in cash, or about $1.25 billion. The company said the deal is expected to be accretive by about 14 cents a share in the first full year excluding deal-related costs.
Ivanhoe Mines Ltd. (USA) (NYSE:IVN) also jumped 13.58% to $16.39 on 4.94 million shares. The mining company said it plans to scrap an accord limiting its ability to bring new investors into the $4.6 billion Oyu Tolgoi mining project in Mongolia, intensifying a dispute with Rio Tinto Group, its largest shareholder.
MGM Resorts International. (NYSE:MGM) spurted 5.91% to $10.40 on 12.65 million shares. In the last five trading sessions the stock went up over 12%. MGM Resorts International, formerly MGM MIRAGE, is a holding company engaged in gaming, hospitality and entertainment. The Company owns and operates casino resorts, which includes offering gaming, hotel, dining, entertainment, retail and other resort amenities.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) advanced 9.50% to $4.15 on 5.10 million shares. Over the past 52-weeks, the stock has been trading in the range of $2.70-$5.93. Arena Pharmaceuticals, Inc. (Arena) is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors (GPCRs), in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases.
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