Stocks to Watch: Microsoft, Quest Software (Update 1)
NEW YORK --
Yammer
agreed to sell itself to
Microsoft
(MSFT) - Get Microsoft Corporation 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) - Get Dell Technologies Inc Class C Report
is the "strategic bidder" that offered to buy
TheStreet Recommends
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.
Dimon's Political Victory Rings Hollow for Shareholders: FBR
United Technologies
(UTX) - Get United Technologies Corporation Report
received conditional approval from China for its $16.5 billion takeover of
Goodrich
(GR)
, the maker of aircraft parts.
Goodrich will be forced to divest its electrical power generation and transmission systems businesses and should sell 60% of joint venture Aerolec within six months, said China's Commerce Ministry.
Shrewd Apple Means Never Having to Say Sorry
Best Buy
(BBY) - Get Best Buy Co., Inc. Report
shares rose more than 2% Thursday following an upgrade by Citigroup.
Citigroup changed its rating on the consumer electronics retailer to neutral from sell. Best Buy shares are down 35% this year.
Are Cash Cows Killing America?
Seagate Technology
(STX) - Get Seagate Technology Holdings PLC Report
said Thursday it reached a deal to acquire a controlling interest in storage device maker
LaCie
.
The
Federal Reserve
said that the U.S. government bailout funding that went to
American International Group
(AIG) - Get American International Group, Inc. Report
has been repaid, according to
Bloomberg
.
Shares of AIG ticked up 12 cents, or 0.39%, to $31.15 in premarket trading Friday.
-- Written by Joseph Woelfel
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Joseph Woelfel
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