Obagi REMOVED Shareholders’ Rights Provision and 4 Stocks Riding the 52-Week High List

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Australia Acquisition (NASDAQ:AAC), and Harbinger Capital Partners LLC or HCP, say that they will participate in a transaction through which AAC will purchase certain assets held by HCP, in exchange for newly issued common shares in AAC. The assets in question are comprised of a majority interest in Asian Coast Development Canada Ltd., which is an international hotel and casino development company currently based in Vietnam, and additionally a minority interest in Ferrous Resources Ltd, an iron ore producer, which concentrates on the expansion of an export iron ore business in the Iron Quadrangle of Minas Gerais, Brazil. This proposed transaction should close by August, and the value amounts to approximately $350 million. Shares closed up 0.2 percent on the day at $10.02, and have traded in a 52-week range of $9.60 to $10.03.

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Amerigroup Corporation’s (NYSE:AGP) $4.9 billion acquisition by Wellpoint (NYSE:WLP) may have caused Centene (NYSE:CNC), Wellcare (NYSE:WCG), and Molina (NYSE:MOH) to become the healthcare industry’s next takeover targets, says Bloomberg. On the other hand, Aetna (NYSE:AET) and Cigna (NYSE:CI) could be persuaded to become potential buyers. Shares closed up 0.37 percent on the day at $89.69, and have traded in a 52-week range of $37.57 to $89.54.

US Airways Group Inc (NYSE:LCC) is among a group of at least five airlines that might be acquired by AMR Corp. (AAMRQ), say sources sources to Reuters, and the shopping list is said to also include JetBlue Airways (NASDAQ:JBLU), Alaska Air Group (NYSE:ALK), Republic Airways’ (NASDAQ:RJET) Frontier Airlines, and Virgin America. Shares closed up 1.51 percent on the day at $14.12, having traded in a 52-week range of $3.96 to $14.09.

Obagi Medical Produc (NASDAQ:OMPI) has officially taken out its shareholders’ rights provision, or “poison pill,” though the provision was voted down by shareholders on June 6th, says a Seeking Alpha contributor, who pointed to a regulatory filing. It’s thought that the filing indicates that Voce Capital Management, a major stakeholder in Obagi. may have found an acceptable suitor for the firm and brokered a deal with management. Shares closed up 1.33 percent on the day at $16.82, having traded in a 52-week range of $8.79 to $16.75.

Orexigen Therapeutic (NASDAQ:OREX) has updated the projected timeframe for completion of enrollment of the Light Study, which is the Contrave cardiovascular outcomes clinical trial. The firm now expects to finalize the enrollment of patients needed for the interim evaluation of the Light Study in the first quarter of 2013, which potentially reduces by half the original forecasts. Shares closed up 4.35 percent on the day at $6.24, having been traded in a 52-week range of $1.22 to $6.55.

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