NEW YORK (
Martin Marietta Materials
said it's "not dissuaded by what may be intemperate rhetoric of litigation," from
in its $4.6 billion hostile takeover bid for the construction materials and asphalt giant.
In a letter publicly released on Saturday, Martin Marietta said that a lawsuit filed on Friday by Vulcan "serious mischaracterizes" its bid and the Vulcan board of directors isn't working in shareholders best interest.
On Friday, Vulcan filed a lawsuit in the Superior Court of New Jersey
that Martin Marietta had been "covertly" plotting a hostile bid and that its recent offer was an attempt to "snatch Vulcan for the lowest possible price and on its own terms," according to a
Vulcan shares were rising 2.5% to $39.74 in premarket trading Monday.
shares popped 10% to open at $11 Friday as the
but demand didn't hold up and the stock closed at $9.50.
Zynga shares were falling 1.6% to $9.35 in premarket trading Monday.
said it expects fourth-quarter revenue to fall 5% to about $72 million from $76 million the same period a year ago. Full-year revenue is expected to rise 5% to $361 million from $345 million the same time last year.
Shares were falling 1.5% to $5.92.
Marketing solutions provider
will repurchase up to $400 million of its stock in 2012.
Shares were trading sideways at $103.
has approached the U.K.'s
Gulf Keystone Petroleum
about a takeover bid of 7 billion pounds ($10.9 billion), reported British newspaper
Exxon is "understood to have sounded out" Gulf Keystone Petroleum about the bid. Gulf Keystone is sitting on "what is considered to be one of the world's great recent oil finds -- Shaikan, about 50 miles north-west of Kurdistan's capital, Erbil," the newspaper said.
reported that Gulf Keystone's board likely wouldn't accept the estimated offer of 8 pounds a share from Exxon, but that a number of other companies, including China's
, are monitoring the situation.
Exxon shares were unchanged at $80.16.
talks on asset sales intended to help it win court approval for its acquisition of
have gone cold,
The Wall Street Journal
reported, citing people familiar with the matter.
It's the strongest sign yet that AT&T may abandon the $39 billion deal, the newspaper said.
Alternatives to a full-blown merger are looking more likely, the people told the newspaper. Those options include AT&T's taking a stake T-Mobile USA, a unit of
( DT), or doing a joint venture to share network technology, the people said. AT&T shares were trading sideways at $28.84.
Grocery store operator
( WINN) has agreed to be bought by supermarket operator
for $560 million.
Winn-Dixie shareholders will receive $9.50 in cash per share, representing a premium of about 75% over the closing price of Winn-Dixie common stock on Dec. 16.
is expected by analysts Monday to report fiscal third-quarter earnings of 26 cents a share on sales of $289.6 million.
-- Written by Joseph Woelfel and Andrea Tse
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