(BNBN:Nasdaq) 25 million-share IPO top-range at $18 a share. The online bookseller owned by
Barnes & Noble
raised $450 million in the offering, which many expect to challenge
kingly status. Earlier today, the offering's price range was lifted to $16 to $18 from $11 to $13.
In other postclose news (earnings estimates from
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
posted first-quarter earnings of 22 cents a share, beating the single-analyst estimate of 20 cents. The stock was up to 15 3/4 in after-hours trading from a close of 15 9/16.
Mergers, acquisitions and joint ventures
agreed to acquire privately held
Cable Systems Holding
for $180 million in cash.
As part of its ongoing restructuring,
proposed merging into the company two majority-owned companies --
-- as units. ThermoTrex said it sees third-quarter restructuring charges of $105 million. Thermo Electron said it sees second-quarter restructuring charges of $450 million.
Separately, Thermo Ecotek said it will record restructuring and other charges totaling $125 million, most of which will be taken in the third quarter.
, a subsidiary of Thermo Electron, said it will record $30 million in charges, to be taken mostly in the second quarter, due to the sale of its power electronics and test equipment business.
, yet another subsidiary of Thermo Electron, will take about $10 million in charges, to be taken mostly in the third quarter, due to the planned sale of a unit and a write-down of investments in Malaysia and Croatia.
Offerings and stock actions
Goldman Sachs priced
(TCLPZ:Nasdaq) 11.5 million-share IPO low-range at $20.50 a share. Goldman said the number of shares has been cut to 11.5 million shares from 14.3 million. Calgary-based TC PipeLines was recently formed to acquire, own and participate in the management of U.S.-based pipeline assets.
Elsewhere in new issues,
Morgan Stanley Dean Witter
Brocade Communications Systems'
(BRCD:Nasdaq) 3.25 million-share IPO above-range at $19 a share. The company is a supplier of switches that computers use to save information.
As originally published this story contained an error. Please see
Corrections and Clarifications.