NightHawk shareholders will receive $6.50 per share in cash from Virtual Radiologic, representing a 100% premium to the stock's closing price on Friday. The transaction is expected to be completed in the first quarter of 2011, the companies said.
Shares of NightHawk are surging by $3.14, or 96.5%, to $6.39. Volume topped 7.45 million shares, compared to the average daily share volume of 71,000.
Elsewhere, BioFuel Energy (BIOF) shares are rallying by 63 cents, or 37.5%, to $2.31 after the company said Friday it has entered into a six-month $19.4 million bridge loan agreement with Greenlight Capital and an affiliate of Third Point LLC. The bridge loan was used to repay $17.9 million in working capital loans. Volume topped 2.49 million shares, compared to the average daily share volume of 218,000.LDK Solar (LDK) shares are jumping by $1.33, or 15%, to $10.18 after the company said it has borrowed $8.9 billion from the China Development Bank to fund its expansion efforts. Volume topped 12 million shares, compared to the average daily share volume of 2.97 million. Shares of Rainmaker Systems (RMKR) are spiking late in Monday's session, rising by 40 cents, or 37%, to $1.48 after the company said in a regulatory filing that it has entered into a statement of work under its vendor services agreement with Microsoft (MSFT) to provide the company with global telesales and chat sales services. Rainmaker said the statement of work covers the U.S., Europe and the Middle East, and Asia-Pacific regions and has an initial three-year term. Services are set to begin on Nov. 1, Rainmaker said. Volume topped 170,000 shares, compared to the average daily share volume of 9,000. -- Written by Robert Holmes in Boston.
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