CE Franklin Jumps On Acquisition News (TLB, MVIS, CFK, GET, SMI)

CE Franklin Jumps On Acquisition News (TLB, MVIS, CFK, GET, SMI)

The Talbots Inc (NYSE:TLB) is one of the top percentage gainer and surged up 90.70% to $2.46 in the early trading hours. Talbots Inc and Sycamore Partners have entered into a definitive agreement. Sycamore Partners will acquire all the outstanding shares of Talbots Inc for $2.75 per share in cash. The total deal value is approximately $369 million. The transaction is expected to close in the third quarter of this year.

Microvision Inc (NASDAQ:MVIS) one of the top gainers in the morning session. The stock increased 35.08% to $2.58. The Company has received purchase orders from Pioneer Corporation. The value of the order is more than $4 million. The purchase orders include MEMS and electronics, which are part of the company’s patented next generation HD PicoP display technology based on direct green lasers that Pioneer is integrating into its Cyber Navi car navigation system.

CE Franklin Ltd (USA) (NASDAQ:CFK) jumped over 34.84% to $12.23 on a traded volume 1.10 million shares. National Oilwell Varco Inc has agreed to acquire CE Franklin Ltd for around C$231 million. National Oilwell intends to pay C$12.75 per share for CE Franklin. This price reflects a 36% premium over its Wednesday closing price on the Toronto Stock Exchange.

Gaylord Entertainment Company (NYSE:GET) increased 6.06% in the early trading hours and currently trades at $36.57. Gaylord Entertainment Co has agreed to sell the Gaylord Hotels brand and the rights to manage its four hotels to Marriott International Inc for $210 million in cash. Gaylord will continue to own its hotel properties and other businesses and will reorganize and elect to be treated as a real estate investment trust effective January 1, 2013.

Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) is one of the percentage loser and decreased 11.29% to $1.65. Recently, the Company announced the signing of a cooperation framework document between its subsidiary SMIC Beijing and the Beijing municipal government. This will lead to the establishment of a joint venture to launch SMIC Beijing’s Second Phase Expansion Project.