WASHINGTON (MarketWatch) — Among the stocks that could see active trading in Monday’s session are Tekelec, American Dental Partners Inc. and Sprint Nextel Corp.
Companies scheduled to report financial results to begin the trading week include Priceline.com Inc. , Sysco Corp. /zigman2/quotes/205335941/composite SYY -0.28% , Babcock & Wilcox Co. /zigman2/quotes/229779257/composite BWC -1.02% , Ducommun Inc. /zigman2/quotes/206978147/composite DCO -1.46% , Coeur d’Alene Mines Corp. /zigman2/quotes/202240707/composite CDE -1.89% , Louisiana-Pacific Corp. /zigman2/quotes/204620507/composite LPX +0.51% , EchoStar Corp. /zigman2/quotes/208539032/composite SATS -2.12% , Dish Network Corp. /zigman2/quotes/207505872/composite DISH +0.87% , Quicksilver Resources Inc. , WMS Industries Inc. /zigman2/quotes/201834635/composite WMS +0.07% , LoJack Corp. and S1 Corp. , among others.
Tekelec , a provider of software for communications networks, agreed to be acquired for about $760.6 million in cash by a private-equity consortium. The buyers are paying $11 a share for Morrisville, N.C.-based Tekelec, an 11% premium over the shares’ Nov. 4 closing price. The transaction’s expected to be completed during the first quarter of 2012.
In what would be a pairing of defense contractors, General Dynamics Corp. /zigman2/quotes/208560027/composite GD -0.09% agreed to acquire Force Protection Inc. /zigman2/quotes/204676095/composite FRPT -0.62% for $360 million. The deal values Summerville, S.C.-based Force Protection at $5.52 a share, 31% higher than the shares’ Nov. 4 closing price. The transaction must pass antitrust clearance and be agreed to by Force Protection shareholders, among other conditions. Force Protection makes blast- and ballistic-protected vehicles for the military.
American Dental Partners has agreed to be taken private for $317 million. New York private-equity firm JLL Partners Inc. is paying $19 a share cash for the Wakefield, Mass.-based provider of facilities, staff and services to dental group practices — an 83% premium over the Nov. 4 closing price for American Dental’s shares. Terms of the deal also call for JLL Partners to assume $81 million of debt. American Dental has 40 days to solicit a better offer, and JLL Parties has the right to match any superior proposal, the parties said.
Late Friday, Sprint Nextel /zigman2/quotes/208685669/composite S +5.61% said it priced a total of $4 billion in high-yield notes — $3 billion of 9% guaranteed notes due 2018 and $1 billion of 11.5% notes due 2021. Net proceeds from the notes offering are expected to be used by the wireless carrier for general corporate purposes, potentially funding of Clearwire Corp. and its subsidiary, Clearwire Communications LLC. The sale’s expected to be completed on Wednesday, Sprint Nextel said.
A former top Delta Air Lines Inc. executive is assuming the posts of president and chief executive at Aaron’s Inc. /zigman2/quotes/222767078/composite AAN +3.53% on an interim basis. Director Ron Allen is taking over from Robin Loudermilk Jr., who the rent-to-own retailer said resigned for health reasons and to run personal and family real estate interests. A committee of the Aaron’s board will undertake an executive search for a permanent successor. Allen, a member of the Aaron’s board for 14 years, ran Delta as chairman and CEO from 1987 through 1997.
LyondellBasell Industries NV /zigman2/quotes/200036808/composite LYB -0.18% is on pace to pay stockholders a special dividend: The Rotterdam-based company priced a $1 billion offering of 6% senior notes due 2021 at par. Proceeds plus available cash will be earmarked for the dividend, expected in the amount of up to about $2.6 billion. LyondellBasell anticipates that the offering will close on Nov. 14.
Tenet Healthcare Corp. /zigman2/quotes/207964487/composite THC -0.66% increased to $900 million the size of a private offering of 6.25% senior secured notes due 2018. The Dallas-based previously had been looking to sell $750 million in debt. Proceeds will be used to buy back higher-yielding debt via a cash tender offer.
Lifetime Brands Inc. /zigman2/quotes/202777463/composite LCUT -0.20% announced Sunday an acquisition that it said would complement its existing business in kitchenware, tabletop, home decor and lifestyle products. Terms were not disclosed of the deal for U.K.-based Creative Tops Ltd. as well as Creative Tops Far East Ltd., based in Hong Kong. However, Garden City, N.Y.-based Lifetime Brands said the buyout will begin contributing to earnings in 2012. The two companies had net combined revenue of about $42.3 million in the fiscal year ended March 31, the buyer said.
Vertex Pharmaceuticals Inc. /zigman2/quotes/202259802/composite VRTX -1.20% said that final results from a Phase II study of VX-509, the company’s investigational selective oral JAK3 inhibitor, showed “substantial and statistically significant” improvements in multiple measurements of rheumatoid arthritis activity. The 12-week study met its two primary endpoints, the Cambridge, Mass.-based biotech company said. Data from the study will be presented Tuesday in Chicago, at the 2011 annual meeting for the American College of Rheumatology.