2:30 PM New York – Elliott Management and Francisco Partners are in preliminary talks with Dell to buy software division for more than $2 billion. Federal-Mogul received revised offer from Icahn Entp for minority stake. Marathon Oil agreed to acquire PayRock for $888 million. Twitter agreed to buy Magic Pony.
Tollbooth Index jumped 135.57 or 1.3% to 10,435.67.
Elliott Management Corporation
, the privately held hedge funds operator and the buyout firm Francisco Partners are in preliminary talks with Dell Inc to buy software division for more than $2 billion.
Federal-Mogul Holdings Corp
) jumped 6.5% or 53 cents to $8.65 after the vehicle and industrial products supplier confirmed that Icahn Enterprises increased offer for minority stake to $8 per share from $7 offer in February.
As of March 31, Icahn Capital LP owns 138.6 million shares of Federal-Mogul Holdings
Marathon Oil Corporation
) soared 9.5% or $1.25 to $14.41 after the oil and gas explorer agreed to acquire PayRock Energy Holdings LLC for about $888 million from venture capital company EnCap Investments boosting its presence in the Oklahoma basin.
The transaction is expected to close in third quarter of this year.
) jumped 2.2% or 36 cents to $16.47 after the social media network provider agreed to acquire London, U.K.-based machine learning and visual technology startup company Magic Pony Technology for about $150 million.
Jack Dorsey chief executive officer of Twitter said the company plans to expand to live video coverage.
Wal-Mart Stores, Inc
) rose 51 cents to $71.46 after the Wall Street Journal said specialty retailer intends to sell its China-based e-commerce business Yihaodian to second largest domestic online retailer JD.com Inc.