Nordstrom to ACQUIRE David’s Bridal and 4 Stocks Hitting 52-Week Highs

Nordstrom (NYSE:JWN): Clayton, Dubilier & Rice announced a definitive agreement for the acquisition of David’s Bridal, which is a specialty retailer of bridal gown and wedding-related apparel and accessories in North America. Leonard Green & Partners is to keep its role as a minority partner. The transaction gives the company a value of about $1.05 billion, but additional terms of the transaction have not been revealed. Other retailers and manufacturers of bridal apparel and accessories are Macy’s (NYSE:M), Nordstrom (NYSE:JWN), Saks (NYSE:SKS), PVH-owned (NYSE:PVH) Calvin Klein, and LVMH-owned (LVMHY) Donna Karan. The shares closed at $57.44, down $0.24 or 0.42% on the day. They have traded in a 52-week range of $41.62 to $58.37.

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Mfc Industrial Ltd (MIL) announced the extension of the expiry time of its offer for all common shares of Compton Petroleum to 5:00 p.m. PDT on Sept. 6. MFC gained requisite approval of the transaction from the Minister of Industry beneath the Investment Canada Act. Furthermore, MFC has reached an agreement in principle with the lenders beneath the current bank facility of Compton respecting their consent to a change of control beneath the Offer. The Offer is extended as MFC awaits the consent of the Mazeppa Processing Partnership, owned by Enstar. As at the date hereof, nearly 24.6 million Compton Shares were deposited to the Offer, which represents about 93.4 percent of the currently outstanding Compton Shares. The shares closed at $8.23, up $0.16 or 1.98% on the day. They have traded in a 52-week range of $6.17 to $8.17.

Movado Group Inc. (NYSE:MOV) surges following the company’s report or significantly higher than expected Q2 earnings per share. Movado, which also increased its earnings per share guidance for fiscal 2013 to $1.40 from $1.24, also approved a 5c per share cash dividend. “From a global perspective the watch category continues to perform well, and we continued to experience strong watch sell-through performance across our retail partners,” stated Movado CEO Rick Cote. The watch maker still anticipates moderate growth in North America, modest growth in Northern Europe, declines in Southern Europe, and solid growth in Asia and South America, Cote also noted. In early trading, Movado saw a $5.69 boost, or 18.90 percent, to $35.80. Fossil (NASDAQ:FOSL), which also makes watches as well as other products, was boosted $2.09, or 2.38 percent, to $89.81. The shares closed at $35.36, up $5.25 or 17.44% on the day. They have traded in a 52-week range of $11.55 to $30.69.

Phillips-Van Heusen (NYSE:PVH): Clayton, Dubilier & Rice announced a definitive agreement for the acquisition of David’s Bridal, which is a specialty retailer of bridal gown and wedding-related apparel and accessories in North America. Leonard Green & Partners is to keep its role as a minority partner. The transaction gives the company a value of about $1.05 billion, but additional terms of the transaction have not been revealed. Other retailers and manufacturers of bridal apparel and accessories are Macy’s (NYSE:M), Nordstrom (NYSE:JWN), Saks (NYSE:SKS), PVH-owned (NYSE:PVH) Calvin Klein, and LVMH-owned (LVMHY) Donna Karan. The shares closed at $92.77, up $4.28 or 4.84% on the day. They have traded in a 52-week range of $53.51 to $93.06.

Seabright Holdings (NYSE:SBX) along with Enstar Group (NASDAQ:ESGR) jointly announced that they have entered into a definitive merger agreement beneath which Enstar is to acquire SeaBright for $11.11 per share in cash. The purchase price is representational of a 34.3 percent premium over SeaBright’s closing stock price of $8.27, today. Beneath the terms of the merger agreement, a newly formed wholly-owned subsidiary of Enstar is to merge with and into SeaBright, with SeaBright continuing as a wholly-owned subsidiary of Enstar. Enstar believes it will finance the aggregate purchase price of about $252 million via a combination of cash on hand and a bank loan facility to be finalized prior to closing. The transaction, not conditioned on Enstar’s ability to obtain financing, is currently predicted to close during Q1 of 2013. The shares closed at $10.96, up $2.69 or 32.53% on the day. They have traded in a 52-week range of $5.83 to $9.55.

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