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Bolstered by a spate of mergers and acquisitions activity,
stocks kicked off the new week in strong fashion after stumbling
for three consecutive weeks.
Oil jumped 3.8%, helping lift the
to a gain of nearly 1%. The Dow Jones Industrial rose 1% while
posted its best day in several weeks with a gain of 1.2%.
A revival of Merger Monday explains why
Anacor Pharmaceuticals Inc
Memorial Resource Development Corp
Tribune Publishing Co
) are three of today's best stocks.
Anacor Pharmaceuticals Inc (ANAC)
Shares of Anacor Pharmaceuticals surged 57.2% on about 15
times the average daily volume after
), a member of the Dow Jones Industrial Average, agreed to buy
ANAC for $5.2 billion.
California-based ANAC makes skin treatments and is currently
testing an experimental eczema treatment. If approved, ANAC's
eczema treatment would be the first new treatment for that
disorder to come to market in over 15 years, according to the
PFE is paying over $99 a share for ANAC, a 55% premium to
ANAC's Friday closing price.
Memorial Resource Development Corp (MRD)
Oil and gas producer Memorial Resource Development rose 3% on
more than 10 times the average turnover after rival
Range Resources Corp.
) said it will acquire MRD for $3.3 billion, excluding MRD debt
of $1.1 billion.
The deal, which is all equity, values MRD at $15.75,
a 17% premium
to the stock's closing price Friday.
RRC's deal for MRD is expected to close in the second half of
this year. Both companies are based in Texas.
Tribune Publishing Co (TPUB)
Newspaper publisher and media conglomerate Tribune Publishing
climbed nearly 23% on almost quadruple the usual volume after
Gannett Co Inc
) raised its acquisition offer for TPUB to $15 a share.
GCI's new offer for TPUB values the company at $864 million,
GCI's initial offer for TPUB, revealed last month, was $12.25
per share. The new offer for TPUB
is nearly double
the stock's closing price on April 22, the day before GCI made
its TPUB offer public.
At the time of this writing, Todd Shriber did not own any
of the aforementioned securities.
More From InvestorPlace
Why Anacor Pharmaceuticals Inc (ANAC), Memorial
Resource Development Corp (MRD) and Tribune Publishing Co (TPUB)
Are 3 of Today's Best Stocks
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