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Olin Corporation (NYSE:OLN) purchases privately-held K. A. Steel Chemicals, which is one of North America’s largest distributors of caustic soda. The price of the transaction is $328 million, paid in cash. The buyer expects that the acquisition should be immediately accretive to both earnings and cash flow.
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PayPal (NASDAQ:EBAY) acquires card.io, a supplier of tech that allows developers to scan credit-card info by using a phone’s camera. Card.io’s solutions have won a following because of their ease-of-use relative to manually inputting credit card data onto a phone. PayPal, which recently introduced a mobile card reader, handled nearly $4 billion worth of mobile payments in 2011, and is aiming at $8 billion in 2012.
Shares of Monster Worldwide Inc. (NYSE:MWW) pop, following reports that company executives are in the process of presenting to potential suitors.
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