Del Monte, Anacor, CPI: Premarket Trading
NEW YORK (TheStreet) --
Del Monte Foods (DLM), the pet foods and consumer products manufacturer, agreed to be taken over by a group of investors led by private-equity firm KKR (KKR) for $4 billion. KKR will pay $19 per share in cash, a 5% premium to Wednesday's closing price.
Shares were up 4.3% to $18.77 in premarket trading.
Shares of newly-listed Anacor Pharmaceuticals (ANAC), which made its debut on Wednesday, were plunging 18% in premarket trading to $4.09. Anacor closed at $5.09 on Wednesday, a modest 2% premium over its offer price of $5.
CPI International (CPII) agreed to be acquired by an affiliate of Veritas Capital for $19.50 a share in cash, or $525 million. The purchase price is a premium of about 35% over CPI's closing price Wednesday of $14.47, and 38% over the average closing price of CPI for the 90 days to Wednesday. Shares of CPI were rising 34.1% to $19.40.
Retail stocks including Target (TGT), Amazon (AMZN), Wal-Mart (WMT), Macy's (M) and Kohl's (KSS) will be in focus on "Black Friday." The stocks were mostly lower in premarket trading, cooling off after a sharp run-up to Friday.
Shares of Charter Communications (CHTR) were down 31% on news that a Canadian company WiLan was suing the company, along with Time Warner (TWC) and Comcast (CMCSA), saying those companies use cable modems that infringe on a patent it bought in 2007.
BP (BP) said Friday it was awarded a 100% interest in the North Arafura oil and gas production sharing contract in onshore Papua Province, Indonesia. Shares were down 1.7% in premarket trading.
--Written by Shanthi Bharatwaj in New York
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