Yahoo! ( YHOO) is again being discussed as a potential acquisition target. Reuters reported on Wednesday that China's Alibaba Group has hired U.S. lobbyist firm Duberstein Group in a sign that it could pursue a deal to acquire all of Yahoo! if efforts to buy back some of its assets fail. Yahoo! shares closed Wednesday at $15.78, down 2% for the session and around 5% for the year.
After Wednesday's closing bell, Alexion Pharmaceuticals ( ALXN) said it's agreed to acquire privately held Enobia Pharma for a total of $1.08 billion. Alexion is paying $610 million in cash upfront for Enobia, whose lead product candidate is a proposed treatment for hypophosphatasia, a rare metabolic disease. The deal includes the potential for additional considerations of up to $470 million based on the achievement of certain regulatory and sales milestones. Shares of Alexion finished Wednesday at $70.92, down 63 cents. Year-to-date the stock has gained more than 75%, hitting a 52-week high of $72.18 on Dec. 27.
Leggett & Platt ( LEG) said it expects to record a pre-tax charge of $36 million in its fiscal fourth quarter related to restructuring activities, including the closing of certain facilities. The Carthage, Mo.-based manufacturer said it expects the charge to reduce earnings by 16 cents a share. Excluding items, its previous forecast for a profit of $1.15 to $1.20 a share for fiscal 2011 remains intact. Including the charge, the company anticipates earnings of 99 cents to $1.04 a share for the full year.