12:25 PM New York – Martin Marietta agreed to buy privately held Bluegrass Materials Co for about $1.63 billion. Key Safety agreed to acquire defective airbag maker Takata Corp for $1.6 billion. Berkshire Hathaway subsidiary acquired 10% stake in Store Capital.
Tollbooth Index edged up 1.03 to 12,134.12.
) jumped 3.1% or 52 cents to $17.60 after the Point72 Asset Management, L.P. acquired 5.3% or 1,656,220 shares in the consumer electronics retailer.
) gained 1.1% or 20 cents to $17.75 after the printing services provider said revenues in the first-quarter ending in May jumped 4.6% from a year ago to $94.6 million.
Net in the quarter swung to profit $7.8 million or 31 cents per diluted share from a loss of $16.9 million or 65 cents in the same quarter last year.
Martin Marietta Materials, Inc
) gained 1.8% or $4.12 to $232.39 after the construction material supplier Inc agreed to buy privately held Bluegrass Materials Co for about $1.63 billion in cash to expand into mid-Atlantic region.
The deal is expected to close in the fourth quarter of this year.
Key Safety Systems Inc
, the privately held passenger car seatbelts, airbags, steering wheels maker today agreed to acquire Japan-based rival and defective airbag maker Takata Corporation for about $1.59 billion or 175 billion yen.
The transaction expected to close in the first-quarter of 2018.
Store Capital Corp
) surged 11.1% or $2.30 to $23.07 after the net-lease and real estate developer said a unit of Berkshire Hathaway Inc agreed to acquire stake of approx 9.8% or $377.1 million on 18.62 million shares at $20.25 per share.
Schnitzer Steel Industries, Inc
) jumped 2.9% or 63 cents to $22.23 after the reported total revenues in the third-quarter ending in May soared 36% from a year ago to $477.1 million.
Net income in the quarter surged 51% to $16.6 million or 60 cents per diluted share from $11 million or 40 cents in the same quarter last year.
Sinovac Biotech Ltd
) soared 13.7% or 78 cents to $6.48 after China-focused vaccines maker agreed to be acquired by its Sinovac (Cayman) Limited and Sinovac Amalgamation Sub Limited, a wholly owned subsidiary of parent for about $401.8 million.
WABCO Holdings Inc
) increased 1.4% or $1.67 to $124.30 after the electro-mechanical products maker said that Daimler Trucks extended its long-term supply agreement for heavy-duty automated manual transmission control technology to support in Europe, North America, Japan, and South America.