The economic calendar in the U.S. on Friday features the Empire manufacturing index for June at 8:30 a.m. EDT; industrial production and capacity utilization for May at 9:15 a.m., and the preliminary reading of the University of Michigan consumer sentiment survey for June at 9:55 a.m.
Yammer agreed to sell itself to Microsoft ( MSFT) 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) is the "strategic bidder" that offered to buy 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.
Human Genome Sciences ( HGSI) said Friday it set July 16 as the bid date for definitive offers to acquire the biotech company. Human Genome invited GlaxoSmithkline ( GSK) to participate in the ongoing process. Human Genome previously rejected a buyout offer of $13 a share from GlaxoSmithKline as inadequate, prompting GlaxoSmithKline to take the bid direct to shareholders through a tender offer.
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