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Hypercom Corporation (NYSE: HYC) $6.17, Up $1.94. Today announced that its Board of Directors has received and unanimously rejected an unsolicited, non-binding proposal from VeriFone Systems, Inc. (NYSE: PAY). The letter, which was received on September 27, 2010, proposed to acquire all of the outstanding common shares of the Company for $5.25 per share in cash.
Hypercom’s Board thoroughly reviewed VeriFone’s unsolicited proposal with the assistance of its independent financial and legal advisors and concluded that the proposal significantly undervalues the Company and its future prospects and is not in the best interests of stockholders. Hypercom believes that VeriFone’s proposal is opportunistic and intended to disrupt its business, which has successfully taken market share from VeriFone in several markets.
What They Do: Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services.
Santarus, Inc. (Nasdaq: SNTS) Trading at $3.11, Up $0.31 and Cosmo Pharmaceuticals S.p.A. announced Wednesday after market close positive top-line results from the Phase III clinical study conducted in the U.S. and India to evaluate the safety and efficacy of budesonide MMX for the induction of remission of mild or moderate active ulcerative colitis. The study results show that budesonide MMX 9 mg taken once daily met the primary endpoint of superiority to placebo (p=0.0143) in achieving clinical remission as measured by the ulcerative colitis disease activity index (UCDAI) score after eight weeks of treatment. Santarus and Cosmo Technologies Ltd., a subsidiary of Cosmo Pharmaceuticals, are collaborating on the budesonide MMX Phase III clinical program.
What They Do: Santarus, Inc. is a specialty biopharmaceutical company focused on acquiring, developing and commercializing proprietary products that address the needs of patients treated by specialists, including gastroenterologists, endocrinologists, allergists, immunologists and rheumatologists.
A-Power Energy Generation Systems (Nasdaq: APWR) Trading at $8.10, Up $0.52, Today announced the signing of an EPC contract to build two 12MW and two 75t/h power plant projects in Liancheng, a total contract value of RMB 242 million.
Mr. Jinxiang Lu, A-Power's Chairman and CEO, commented, "We are very excited to see an additional win in our core distributed generation (DG) business in China. Our Liaoning Hi-Tech (GaoKe) Energy Group subsidiary continues to build a strong pipeline of business for A-Power, expanding our customer base, geographic footprint as well as gaining further expertise in the DG business."
What They Do: A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China-based operating subsidiaries, is a leading provider of distributed power generation systems in China and is expanding into the production of alternative power generation systems.
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