Super Volatile Stocks: TII Network Technologies, Golfsmith International, Ventrus Biosciences, InterOil Corporation

TII Network Technologies (NASDAQ:TIII) is in a definitive merger agreement with Kelta, in which Kelta will take on Tii for $2.15 a share (a total consideration of around $33.1M). This represents approximately a 48% premium above Tii Network Technologies’ common stock closing price, as reported on the NASDAQ Stock Market website May 11. Tii shares are today trading 41.38% higher.

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Golfsmith International Holdings, Inc. (NASDAQ:GOLF), an American specialty golf retailer, along with Golf Town, Canada’s largest specialty golf retailer, have entered into a definitive merger agreement in which Golf Town will acquire Golfsmith for $6.10 (US) cash. That price is a premium of 32.2% to Golfsmith stockholders according to the volume-weighted average closing prices of the company common stock in the 30 trading days prior to this merger. Additionally, the merger brings a premium of 55.1% to Golfsmith stockholders based on the volume-weighted average closing numbers of the company common stock in the 30 trading days prior to the March 1st announcement, demonstrating that the company had been looking into strategic alternatives (such as a potential company sale). The acquisition (subject to limited closing conditions such as regulatory approvals) is expected to close in 2012 Q3, and the transaction will not be subject to a financing condition. Following closing, Martin Hanaka will be CEO; Sue Gove, president, COO and CFO of Golfsmith will assume the role of President and COO; and EVP-stores will be Ron Hornbaker. Following this news, Golfsmith shares are trading 28.03 higher today.

Ventrus Biosciences Inc (NASDAQ:VTUS): Good news is being reported from Ventrus Biosciences’ Phase 3, randomized, double-blind, placebo-controlled clinical trial of diltiazem hydrochloride cream, or VEN 307 in patients suffering from anal fissures. S.L.A. Pharma (Ventrus’ partner in development) has finished most statistical analysis plan outputs for the trial, and Ventrus shares are trading 19.83% higher today.

InterOil Corporation (NYSE:IOC): More successful tests are being reported, as InterOil announced completion of its drill stem tests in the upper reservoir section of the Triceratops-2 well in Papua New Guinea. This test (DST#8) takes place in the open hole interval from 4,111 feet. or 1,253 meters, to 4,859, or 1,481 meters. Prior to closing for final buildup, the well was opened to increasing choke settings. Shares of InterOil are trading lower today by 13.02%.

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