1:05 PM New York – RTI Intl surged 41% after Alcoa agreed to acquire for $1.5 billion. Blackstone agreed to acquire Heartland Harvest for undisclosed amount. Concordia Healthcare plans to acquire privately held Covis Pharma for $1.2 billion. Simon Property agreed to buy Macerich Co for $22.4 billion.
Tollbooth Index rose 0.3% or 33.71 to 10,659.58.
) declined 4.9% or 71 cents to $13.76 after the aluminum producer agreed to acquire titanium supplier RTI International Metals Inc for about $1.5 billion or equivalent of $41 a share.
The transaction is expected to close in three-to-six months. RTI International Metals, Inc surged 40.9% to $38.45.
Blackstone Group LP
) rose 13 cents to $38.88 after the investment manager is in advance talk acquire the Willis Tower in Chicago, formerly the Sears Tower for about $1.5 billion.
fell 47 cents to $80.33 after the food and feed ingredient maker agreed to acquire Heartland Harvest Inc., a North American producer of die cut pellets used to make extruded foods for undisclosed amount.
Concordia Healthcare Corp
, the Canada-based specialty healthcare company plans to acquire some assets of privately held Covis Pharma Holdings SARL for $1.2 billion in cash.
Gaming and Leisure Properties Inc
) surged 10% to $3.23 to $35.60 after the property developer offered to buy the real estate assets of casino operator Pinnacle Entertainment Inc for $4.1 billion including debt.
Shares of Pinnacle Entertainment, Inc climbed 15.2% to $31.60.
Simon Property Group Inc
) fell 11 cents to $180.60 after the mall real estate developer offered to acquire rival Macerich Co for $22.4 billion in cash and stock, including debt outstanding of about $6.4 billion.
Macerich Co stock climbed 6.1% to $91.99 after the hostile takeover offer.