Nov 05, 2009 (MarketNewsVideo.com via COMTEX News Network) -- IMS Health (RX) announced it will be acquired by investment funds managed by TPG Capital and the CPP Investment Board, in a deal valued at 5.2 billion dollars including the assumption of debt. IMS shareholders will receive 22 dollars per share in cash. The debt financing for the buyout will be provided by affiliates of Goldman Sachs (GS). IMS Health shares were up nearly 24% Thursday morning on the news.
Lakes Entertainment (LACO) announced that Ohio voters passed a referendum amending the state's constitution to authorize one casino gaming facility in each of five major cities in the state. Lakes Entertainment has funding deals with the two groups that proposed the casinos, one of which was led by the owner of the Cleveland Cavaliers. Under those deals, Lakes would fund 10% of the costs associated with the referendum, and then be granted the option to fund 10% of the equity investment required to develop the casinos.
Lakes also reported its third quarter earnings today, posting a profit of 9 cents per share as compared to a 23 cent loss in the same quarter last year. Investors were optimistic about the future opportunities for Lakes, and sent shares 26% higher in early trading Thursday.
And shares of Fuel Systems (FSYS) jumped 23% after the company reported strong third quarter results and boosted its full year guidance. Revenue was up 10% year over year, helping drive net income of 88 cents. That's up from net income of 75 cents in the same quarter last year.
The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200911BigGainers110509&mv=1.
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