Gilead Inks Deal With YM BioSciences and 2 Stocks Hitting 52-Week Highs
L.B. Foster Company (NASDAQ:FSTR) announced that they have agreed on a multi-year contract extension with the Union Pacific Railroad (NYSE:UNP) for the supply of prestressed concrete railroad ties from their Tucson, AZ facility. The previous supply contract was set to expire on December 31. Their shares closed at $42.16, up $0.18 or 0.43% on the day. They have traded in a 52-week range of $24.94 to $42.24.
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Gilead Sciences (NASDAQ:GILD) and YM BioSciences (AMEX:YMI) announced that they have signed a definitive agreement under which Gilead will acquire YM for $2.95 per share in cash. The acquisition has received the unanimous approval of YM’s Board of Directors and values YM at approximately $510 million, with YM reporting C$125.5 million in cash and cash equivalents as of September 30. Gilead plans to fund the purchase with cash on hand. The transaction is expected to close in the first quarter of 2013, but will require the approval of YM shareholders at a special meeting to be held as soon as reasonably possible and on or before February 11, 2013. Their shares closed at $76.23, up $0.11 or 0.14% on the day. They have traded in a 52-week range of $36.98 to $76.76.
Great Lakes Dredge (NASDAQ:GLDD) announced that their board has declared a special dividend on their common stock. The board approved a 25c per share special dividend to be paid on December 28 to the company’s shareholders of record at the close of business on December 21. Their shares closed at $9.05, up $0.17 or 1.91% on the day. They have traded in a 52-week range of $5.05 to $8.96.
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