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TradeStation Group (Nasdaq: TRAD) $9.69, Up $2.28. Announced Wednesday after market close that they have entered into a definitive agreement pursuant to which a subsidiary of Monex (the "Merger Sub") will acquire all the outstanding common stock of TradeStation for $9.75 per share, or approximately $411 million in aggregate, through a cash tender offer followed by a merger.
Under the terms of the agreement, which has been unanimously approved by TradeStation and Monex's respective Boards of Directors, TradeStation's shareholders will receive $9.75 in cash for each outstanding share of TradeStation common stock they own, which represents a 39% premium to TradeStation's share price 30 days ago, on March 21, 2011, and a 32% premium to TradeStation's closing stock price on April 20, 2011, the last full trading day before today's announcement.
What They Do: TradeStation Group through its brokerage subsidiaries, offers the TradeStation platform to the active trader and certain institutional trader markets.
Select Comfort Corporation (Nasdaq: SCSS) $17.29, Up $4.02. Announced Wednesday after market close first-quarter results for the period ended April 2, 2011. Net sales for the quarter totaled $193 million, compared to $158 million in the first quarter of 2010, a year-over-year increase of 22 percent on company-owned comparable sales growth of 26 percent. The company reported first-quarter net income of $16.6 million, or $0.30 per diluted share, compared to net income of $7.8 million, or $0.14 per diluted share, in the prior-year period – representing a 114 percent year-over-year improvement in earnings per diluted share.
“Our first quarter performance demonstrates the earnings potential of our business when we achieve solid sales growth and increased market share,” said Bill McLaughlin, president and CEO, Select Comfort Corporation. “During the quarter, we remained focused on leveraging our core business, executing against our growth-driving programs and controlling costs, making solid progress against our goals of profitable growth and margin expansion.”
What They Do: Select Comfort Corporation designs, manufactures, markets and supports a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number bed, as well as foundations and bedding accessories.
Neptune Technologies & Bioressources (Nasdaq: NEPT) $3.68, Up $0.75. Announced Wednesday that in connection with its private placement financing of units announced yesterday, it has secured commitments, with the same terms previously announced, for an additional $2,865,000. The total proceeds of the private placement financing amounts for approximately $12.4M.
Neptune is not accepting any additional subscriptions for units. The Company expects the closing of these units to occur concurrently with the closing of the previously announced financing. The closing is subject to the TSX Venture Exchange approval and other customary conditions.
What They Do: Neptune is an industry-recognized leader in the innovation, production and formulation of science-based and clinically proven novel phospholipid products for the nutraceutical and pharmaceutical markets.
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