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Market Update

PPG and Linn Energy Deals; TreeHouse Buys Flagstone Foods

Author: Mukesh Buch
Last Update: 12:22 PM ET June 30 2014

12:20 PM New York MannKind jumped on FDA approval. Kindred Healthcare will clear to buy Gentiva Health Services. PPG agreed to buy Consorcio Comex for $2.3 billion. Linn Energy acquired five assets of Devon Energy for $2.3 billion. TreeHouse Foods purchased Flagstone Foods for $860 million.

Dicerna Pharmaceuticals Inc (DRNA) surged 19.2% or $3.62 to $22.47 after the biopharmaceutical company said its pre-clinical data promising of DCR-PH1 for the treatment of primary inherited liver disorder.

MannKind Corporation (MNKD) climbed 9.2% or 92 cents to $10.92 after the U.S. Food and Drug Administration has approved company''s inhalable insulin drug Afrezza to control insulin levels with a warning label for people with lung diseases.

The powder helps to control blood sugar levels, suffering with diabetes mellitus.

Kindred Healthcare, Inc (KND) slipped 1.5% or 36 cents to $23.03 after the healthcare service provider said it may revise or withdraw its offer to buy Gentiva Health Services Inc.

PPG Industries Inc (PPG) jumped 2.9% or $5.97 to $210.02 after the painting and coating company agreed to acquire Mexico-based paints maker Consorcio Comex SA de CV for $2.3 billion.

Linn Energy LLC (LINE) gained 1.6% or 47 cents to $32.36 after the oil and natural gas explorer signed an agreement to acquire five operating assets areas of the U.S. from Devon Energy Corporation for $2.3 billion.

The transaction is expected to close in the third quarter.

TreeHouse Foods Inc (THS) increased 1% or 85 cents to $80.67 after the grocery and foodservice retailer agreed to acquire Flagstone Foods, the private healthy snacks provider for $860 million in cash from Gryphon Investors and other stake holders.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc