Robbins & Meyers ACQUIRED by National Oilwell Varco and 4 Stocks Reaching 52-Week Highs
FX Energy (NASDAQ:FXEN) was mentioned positively in a Little Bear Research report. The shares closed at $7.72, up $0.17 or 2.25% on the day. They have traded in a 52-week range of $3.67 to $7.78.
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Northrop Grumman Cor (NYSE:NOC): The U.S. and its Arab allies are currently developing a Middle Eastern missile defense system, which is intended for protection from various targets from an Iranian attack, reports The New York Times. The implementation of such a regional system will require the introduction of more radar systems as well as command, control, and communications systems in various parts of the region, the newspaper states. The shares closed at $68.40, up $0.55 or 0.81% on the day. They have traded in a 52-week range of $49.20 to $68.02.
News Corp. (NASDAQ:NWSA): In a summary judgment passed down following the close of the London stock market on Wednesday, the Competition Appeal Tribunal decided that regulator Ofcom’s decision to make British Sky Broadcasting (BSYBY) reduce the amount of money it charges rivals to show its flagship Sky Sports channels was “unfounded,” according to The Guardian. The shares closed at $23.67, down $0.05 or 0.21% on the day. They have traded in a 52-week range of $14.72 to $24.04.
Osi Systems (NASDAQ:OSIS) sees its FY13 revenue at $870 million to $890 million, consensus $847.71 million. The shares closed at $71.26, up $6.82 or 10.58% on the day. They have traded in a 52-week range of $31.00 to $68.00.
Robbins & Myers (NYSE:RBN): National Oilwell Varco (NYSE:NOV) is to acquire Robbins & Myers in an all cash transaction that valued at about $2.5 billion. Under the agreement, Robbins & Myers’ shareholders should receive $60.00 per share in cash in for each of the almost 42.4 million shares outstanding. The Boards of Directors of National Oilwell Varco and Robbins & Myers have unanimously approved the transaction, subject to customary closing conditions, including the approval of two-thirds of Robbins & Myers shareholders. Closing is expected to occur during Q4 of 2012. Robbins & Myers’ largest shareholder, M.H.M. & Co., Ltd, owns approximately 10 percent of Robbins & Myers’ outstanding common shares, and it has agreed to vote its Common Stock in favor of the Transaction in accordance with the terms of a support agreement entered into in respect of the transaction. The shares closed at $59.63, up $12.83 or 27.41% on the day. They have traded in a 52-week range of $31.54 to $53.50.
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