NEW YORK ( TheStreet) -- Martin Marietta Materials ( MLM - Get Report) said it's "not dissuaded by what may be intemperate rhetoric of litigation," from Vulcan Materials ( VMC - Get Report) 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 charging 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 Reuters report.

Vulcan shares were rising 2.5% to $39.74 in premarket trading Monday.


Zynga ( ZNGA - Get Report) shares popped 10% to open at $11 Friday as the gaming company made its public debut on the Nasdaq 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.


BioPharma ( PDLI - Get Report) 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 Alliance Data ( ADS - Get Report) will repurchase up to $400 million of its stock in 2012.

Shares were trading sideways at $103.


Exxon Mobil ( XOM - Get Report) has approached the U.K.'s Gulf Keystone Petroleum about a takeover bid of 7 billion pounds ($10.9 billion), reported British newspaper The Independent.

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.

The Independent 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 Sinopec and Chevron ( CVX), are monitoring the situation.

Exxon shares were unchanged at $80.16.


AT&T's ( T - Get Report) talks on asset sales intended to help it win court approval for its acquisition of T-Mobile USA 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 Deutsche Telekom ( 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-Dixie ( WINN) has agreed to be bought by supermarket operator BI-LO 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.


Red Hat ( RHT) 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

>To contact the writer of this article, click here: Andrea Tse.

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