According to a report in DigiTimes, strong demand for the iPhone five has led to Apple (NASDAQ:AAPL) placing “a new wave of follow-up orders” on TSMC (NYSE:TSM) and other chipset players. Current estimates place iPhone5 sales at 50 million pieces by end 2012, and reportedly, Apple has had to revise upwards its orders for components. Orders for ICs are now estimated with monthly shipments ranging from 10 to 15 million units during September to November.
Shares of American Greetings (NYSE:AM)are moving higher after the company announces that it received a proposal from a group of investors including CEO Zev Weiss and COO Jeffrey Weiss to acquire all of its outstanding Class A and Class B shares not already owned by them, at $ 17.18 a share. A special committee of independent directors is likely to consider the proposal.
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Shares of Columbia Banking System (NASDAQ:COLB) and West Coast Bancorp (NASDAQ:WCBO) are halted after the companies announce they have agreed to combine in a transaction valued at approximately $ 506 million. Consideration payable to West Coast shareholders consists of a fixed amount of cash totaling approximately $264.5 million and a fixed amount of Columbia common stock totaling approximately 12.8 million shares. Based on Columbia’s closing stock price of $18.85 yesterday, the consideration for West Coast shareholders would value at about $23.10 per share.