A number of companies are in the M&A crosshairs, including Jarden Corp (JAH) and United Technologies Corporation (UTX)
M&A Monday is in full swing, and we've already touched on
some of this morning's headlines. However, a number of other companies are in the crosshairs amid the latest round of news and rumors, including
Jarden Corp (NYSE:JAH),
United Technologies Corporation (NYSE:UTX),
Platform Specialty Products Corp (NYSE:PAH),
BorgWarner Inc. (NYSE:BWA), Marvell Technology Group Ltd. (NASDAQ:MRVL), and
Depomed Inc (NASDAQ:DEPO).
JAH has soared 4.6% at $54.72, and is fresh off an all-time peak of $55.75, after the consumer products company
agreed to purchase Waddington Group for nearly $1.4 billion. Jarden Corp founder Martin Franklin cited Waddington's "strong cultural fit" and "compelling financial and strategic value proposition" as reasons for the acquisition. Meanwhile, the stock's sharp spike has vindicated analysts, 92% of which consider the shares a "strong buy."
Meanwhile, tech blue chip
UTX has advanced 0.8% to flirt with $111.14, while
Lockheed Martin Corporation (NYSE:LMT) has jumped 1.9% to trade at $197.88. The intraday gains are being fueled by reports that LMT is the
leading candidate to buy United Technologies Corporation's Sikorsky helicopter business, potentially for upwards of $8 billion.
Moving along, chemical maker
PAH is up on news it will
purchase U.K.-based rival Alent for roughly $2.1 billion, allowing the former to expand its portfolio and reduce costs. At last check, Platform Specialty Products Corp was 2.2% higher at $25.68. Also gaining is
BWA -- currently up 1% at $54.13 -- after the auotomotive systems specialist
agreed to buyout terms with privately held Remy International Inc., for just under $1 billion.
If that's not enough, unconfirmed
M&A chatter is swirling around MRVL, boosting the shares 3.9% to trade at $13. This is bad news for recent short sellers -- in fact, short interest on Marvell Technology Group Ltd. soared nearly 35% during the latest reporting period. Finally, in the pharmaceutical sector,
DEPO has tacked on 0.3% to trade at $30.24 -- and hit a record high of $30.45 -- after the firm
adopted measures to protect itself from Horizon Pharma PLC's (NASDAQ:HZNP)
hostile takeover bid.