Elster Group (NYSE:ELT) reports that it has reached a deal though which a wholly-owned subsidiary of Melrose PLC would make an offer to purchase all outstanding American Depositary Shares of Elster at $20.50 in cash, which represents a total value for all outstanding ADSs and shares of around $2.3 billion. Shares closed up 4.8 percent on the day at $20.30, having traded between $11.52 and $19.55 in the past 52 weeks.
Isis Pharmaceuticals (NASDAQ:ISIS) and Biogen Idec (NASDAQ:BIIB) have entered into an exclusive, global option and collaboration agreement under which the two firms will develop and market a novel antisense medication for the treatment of myotonic dystrophy type 1, or DM1, which is also known as Steinert disease. Shares of Isis closed up 3.09 percent on the day at $12.00, and have traded between $6.25 and $12.00 for the last 52 weeks.
Lincare Holdings Inc (NASDAQ:LNCR) seeks a suitor and is receiving interest from Linde and Air Liquide, say inside sources to Bloomberg. Linde has retained investment bank experts to advise it on the possible offer. In response Jefferies has upgraded LNCR, pointing out the increased potential of a takeover; the analyst also thinks that shares could sell at $40. The stocks closed up 5.33 percent on the day at $34.02, and have been trading between $19.65 and $33.19 during the last 52 weeks.
Monmouth Real Estate (NYSE:MNR) shares closed up 4.64 percent on the day at $11.72, having traded between $7.50 and $11.52 in the last 52 weeks.
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