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Market Update

U.S. Movers: Amgen, Anadarko, BATS Global, TMS Intl, Wasserstein

Author: Mukesh Buch
Last Update: 11:32 AM ET August 26 2013

11:30 AM New York Amgen agreed to acquire Onyx Pharmaceuticals for $10.5 billion in cash. Anadarko sold its 10% stake in Mozambique oil field to India based ONGC Videsh for $2.64 billion in cash. TMS International agreed to be acquired by Pritzker Organization for $1 billion in cash.

Amgen Inc. (AMGN) surged 8.6% or $8.97 to $114.57 after the biotechnology agreed to acquire oncology powerhouse Onyx Pharmaceuticals Inc. for about $10.5 billion or $125 per share in cash.

Anadarko Petroleum Corporation (APC) climbed 2% or $1.79 to $91.59 after the oil and gas explorer agree to sell 10% stake in Mozambique''s offshore gas field in Area 1 for $2.64 billion in cash to India based ONGC Videsh Ltd., a wholly owned subsidiary of Oil and Natural Gas Corporation Limited.

The transaction is expected to close at the end of this year.

BATS Global Markets, Inc, the privately held equity securities and options exchange operator agreed to merge with Direct Edge Holdings LLC. Financial terms are not disclosed and the transaction is expected to close in the first-half of 2014.

BATS generated $100 million of earnings before interest, taxes and depreciation and DirectEdge is also reported to be profitable.

The merged BATS exchange is expected to remain private at least for the near future.

TMS International Corp. (TMS) soared 12.1% or $1.89 to $17.46 after the industrial service provider said Pritzker Organization, LLC will acquire the company in transaction valued for $1 billion in cash.

Under the terms, stockholders of the TMS will receive $17.50 in cash and the transaction is expected to close in fourth quarter of 2013.

Wasserstein & Co., the private-equity firm agreed to buy communications services provider Globecomm Systems Inc. for $340 million in cash.

Under the terms, shareholders of the Globecomm will get all cash price of $14.15 per-share, a premium of 22%. The deal is expected to close in the fourth quarter.

For the year, Globecomm expects revenue of approx. $319.6 million. Globecomm reported third-quarter net profit surged 44% to $4.18 million from $2.90 million.

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