The economic calendar in the U.S. on Friday features the Empire manufacturing index for June at 8:30 a.m. EDT; industrial production and capacity utilization for May at 9:15 a.m., and the preliminary reading of the University of Michigan consumer sentiment survey for June at 9:55 a.m.
Yammer agreed to sell itself to Microsoft (MSFT - Get Report) for $1.2 billion, The Wall Street Journal reported, citing a person familiar with the matter. It's unclear when the acquisition of Yammer, the business-software company, will be completed and announced, said a person familiar with the deal, the Journal reported. Yammer is often called Facebook for the workplace because it creates private social networks inside companies, the newspaper noted.
Dell (DELL) is the "strategic bidder" that offered to buy Quest Software (QSFT) for $2.15 billion in cash, sources familiar with the matter told Reuters. PC maker Dell is the unidentified company mentioned in a statement made by Quest, which disclosed on Thursday that it had received an offer from a "strategic bidder" of $25.50 a share, Reuters said. The reported Dell bid tops an earlier offer of nearly $2 billion from private investment firm Insight Venture Partners. Shares of Quest Software gained more than 9% Thursday to finish at $26.06.
Human Genome Sciences (HGSI) said Friday it set July 16 as the bid date for definitive offers to acquire the biotech company. Human Genome invited GlaxoSmithkline (GSK - Get Report) to participate in the ongoing process. Human Genome previously rejected a buyout offer of $13 a share from GlaxoSmithKline as inadequate, prompting GlaxoSmithKline to take the bid direct to shareholders through a tender offer.
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