Big Premium For Generic Drug Maker
Par Pharmaceutical agreed to be acquired by private-equity firm TPG for $50 a share in cash. PRX, which closed at $36.58 on Friday, soars 37 percent in the premarket.
Citigroup Climbs on Strong Earnings
Citigroup reported second-quarter profit of $1, beating the $0.89 consensus analyst estimate. Revenues missed, but investors are focusing on the bottom line, sending C higher by 2 percent before the bell.
Barclays Drops on Libor Worries
Barclays is falling on a New York Times report that U.S. authorities may seek criminal fraud charges against bankers in the Libor scandal. That could be bad news for BCS, whose CEO has already stepped down. BCS is lower by 4 percent in the pre.
Bid Increased For Human Genome
GlaxoSmithKline raised its takeover price for Human Genome Sciences to $14 a share from its previous $13 bid in April. HGSI is 3 percent higher on the news.
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