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Quantum (NYSE:QTM) jumps 9.4% higher premarket after talk about an acquisition from NetApp (NASDAQ:NTAP). Janney analyst Bill Choi says the competitive environment has pushed NTAP to the point that if it hopes to gain more customers it needs a “complete solution set”.
RBS (NYSE:RBS) is examining final bids for its aircraft leasing business. This could fetch up to $8B, reports Reuters. Those in the running for RBS Aviation Capital are China Development Bank, Wells Fargo (NYSE:WFC), Sumitomo Mitsui (NYSE:SMFG) and a Macquarie-led consortium (MQBKY.PK).
Investing Insights: Are Physical Precious Metals Still in Demand?
Cameco (NYSE:CCJ) gains 4.1% after starting, which this will allow its C$4.50/share offer for fellow Canadian uranium miner Hathor Exploration (HTHXF.PK) to lapse. Barring regulatory holdups, Cameco’s move paves the way for Rio Tinto (NYSE:RIO) to acquire Hathor, courtesy of its C$4.70/share offer.
Commercial Metals (NYSE:CMC) was offered $15/share by Carl Icahn reports Bloomberg.
Ternium (NYSE:TX) is up. But it is up far less than other steelmakers, after announcing it will partner with Tenaris (NYSE:TS) to acquire a 27.7% stake in Brazilian steel manufacturer Usiminas. The stake goes for $2.7B. Separately, Japan’s Nippon Steel is acquiring a smaller stake in Usiminas.
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Akamai (NASDAQ:AKAM) is in talks to buy rival content delivery network Cotendo, which it’s currently suing, for more than $300M. Dan Rayburn views Contendo as a growing threat to Akamai. Customers are claiming the Israeli startup’s network is both faster and cheaper for certain high-margin applications. Publicly-traded rival Limelight (NASDAQ:LLNW) is also surging.
CommVault (NASDAQ:CVLT) joins Quantum (NYSE:QTM) in taking off on speculation NetApp (NASDAQ:NTAP) might bid for the company. Unlike Quantum, who sports a price/sales ratio of just 0.8, CommVault wouldn’t come cheap: the storage software vendor, which has been taking share from Symantec (NASDAQ:SYMC) in major enterprise accounts, has a trailing P/E of 51.
KKR (NYSE:KKR) is set to acquire Capital Safety, a maker of safety harnesses, possibly at a price of ~$1.1B. This is according to sources of Bloomberg. The news comes just a few days after KKR announced a $7.2B deal to acquire oil & gas producer Samson.
Investing Insights: Financial Business: Bank Stocks Spike, Citigroup Settlement Smacked Down.
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