AirMedia Group Inc. (AMCN) continues to surge on Friday, up 40% at $4.95. Shares gained momentum after the company announced a going private offer from a buyer group including Chairman and CEO for $6.00 a share.
According to the offer, which represents a premium of 70.5% to the closing trading price of the AMCN’s ADS on Thursday, the buyer group intends to fund the transaction with a combination of debt and/or equity capital, and rollover equity in the company.
Private money management firm Jana Partners has taken a 7.2% active stake in ConAgra Foods, Inc. (CAG). The firm is prepared to make nominees to the Board.
In pre-market trading hours on Friday, ConAgra shares were up nearly 6% to $41.20.
In other CAG news this morning, Bernstein analysts initiated coverage on ConAgra Foods with a ‘Market Perform‘ rating and $44 from $37 price target.
Tekmira Pharmaceuticals Corporation (TKMR) is plunging 11.44 percent to $13.31 as the company announced that the Phase II clinical trial of TKM-Ebola-Guinea has reached a predefined statistical endpoint and enrollment has been closed. Tekmira said the endpoint indicated that continuing enrollment was not likely to demonstrate an overall therapeutic benefit.
Tesla Motors, Inc. (TSLA) – The electric car maker has won $15 million tax break from California, L.A. Times reports. The company has said it will use the money to add more than 4,000 jobs to its Bay Area factories and plants.