Stocks In News (VALE, PAY, ATI)

Vale (ADR) (NYSE:VALE) added 0.44% to $31.65. Dow Jones reported that Vale will launch a tender offer for voting shares in its fertilizer unit, Vale Fertilizantes SA, as the firm looks to wrap up the consolidation of its business unit. Vale's Mineracao Naque SA unit has filed the registration with Brazil's securities regulator, the CVM, to buy up all outstanding ordinary shares in Vale Fertilizantes, Vale said. Vale will offer $12.0185 for each ordinary share, for a total offer of $3.27 million, it said.

The stock has average daily volume of 20.77 million shares. At current market price, the market capitalization of the company stands at $166.07 billion.

VeriFone Systems, Inc. (NYSE:PAY) advanced 1.26% to $32.24. The company announced a definitive agreement under which VeriFone will acquire Hypercom in an all stock transaction valued at approximately $485 million, including net debt assumed by VeriFone.

The stock opened at $32.50 and traded within the range of $31.66-$32.72. At current market price, the market capitalization of the company stands at $2.77 billion.

Allegheny Technologies Incorporated (NYSE:ATI) went down 1.20% to $49.34. The company and Ladish Co., Inc. announced that they have entered into a definitive merger agreement whereby ATI will acquire Ladish for an aggregate fully distributed equity value of approximately $778 million. Ladish shareholders will receive $24.00 in cash and 0.4556 of a share of ATI common stock for each share of Ladish common stock.

The transaction is subject to normal closing conditions, including approval by Ladish shareholders, and is expected to be completed in early 2011.