Top Stock Deals of the Day (MMM, COGT, INTC, IFNNY)

3M Company (NYSE:MMM), on Monday has announced that it the company has reached an agreement with Cogent, Inc. (NASDAQ:COGT) to acquire the later and valued that deal at $943 million or $10.50 per share.

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The agreed amount represents a premium of about 18% over Cogent’s closing price of $8.91 on Friday.

Cogent had reported a revenue of $130 million in the year 2009. 3M expects that this deal could dilute the company’s earnings by 9 - 10 cents a share over the first 12 months after closing.

Excluding purchase accounting adjustments and integration costs, its expects the deal to add to earnings by 1 to 2 cents per share.

Cogent engages in making automated fingerprint and palmprint identification systems that allow its customers to capture fingerprint and palm print images electronically, encode prints into searchable files, and compare sets of prints.

Shares of COGT soared 19.74% to $10.68 on high volume. While, shares of 3M Company slid 0.65% to $80.47.

3M Company (3M) is a diversified technology company with a global presence in industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications.

Today, the technology giant, Intel Corporation (NASDAQ:INTC) has agreed to acquire Infineon Technologies AG (ADR) (PINK:IFNNY)’s unit makes chips used in mobile phones and laptops, including Apple Inc.'s popular iPhone.

The deal has been valued at about $1.4 billion in cash. This deal would help  Intel’s business to grow in the new sphere i.e the market for smartphone chips, enabling it to offer "the full range of wireless options, from Wi-Fi and 3G to WiMAX and LTE," Intel Chief Executive Paul Otellini said in a statement.

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The unit's annual revenue, 917 million euros ($1.17 billion), accounted for 30% of Infineon's total revenue in its most recent fiscal year.

This is the second acquisition done by Intel in the past two weeks.

Shares of INTC slid 1.57% to $18.08. The stock made a new 52-week low of $17.81 last Friday and is down about 18% year to date.

Intel Corporation is a semiconductor chip maker, developing advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications.

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