FedEx To Buy Rapidao Cometa (FDX, PCX, IBI, VRTX)

FedEx To Buy Rapidao Cometa (FDX, PCX, IBI, VRTX)

FedEx Corporation (NYSE:FDX) has agreed to buy Brazilian logistics and transport company Rapidao Cometa since the company wants to further its expansion into Latin America. The deal is expected to close in the third quarter. The company said the acquisition of Rapidao Cometa is in line with the company’s long-term strategy of expansion in Latin America. Rapidao Cometa has been an authorized representative of FedEx for 11 years. However, the terms of the deal were not disclosed.

Patriot Coal Corporation (NYSE:PCX) shares climbed 4.07% to $2.56 in the pre-market hour after the company announced that Irl F. Engelhardt has been named the Chief Executive Officer. He succeeds Richard M. Whiting, who is leaving Patriot after serving as President and CEO since 2007. As CEO, Engelhardt will have overall responsibility for the Company and will focus on corporate strategy, financing activities, corporate development and optimization of the Company’s asset portfolio. Engelhardt will also continue to serve as Chairman of Patriot’s Board of Directors.

Additionally, Bennett K. Hatfield has been named President and will continue to serve as Chief Operating Officer of Patriot. He will be responsible for overseeing the execution of Patriot’s operations, sales and marketing plans.

Interline Brands Inc (NYSE:IBI) shares soared 41.30% to $25.35 in the pre-market hour after the company announced that it has entered into a definitive agreement to be acquired by affiliates of GS Capital Partners LP and P2 Capital Partners, LLC for $25.50 per share in cash. The transaction, which was unanimously approved by Interline’s board of directors, is valued at approximately $1.1 billion. The price of $25.50 per share represents a premium of approximately 42% relative to the Company’s closing stock price on May 25, 2012, the last trading day before the announcement of the transaction.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) shares declined 20.20% to $51.75 in the pre-market hour after the company announced a correction to the previously reported responder analysis, as well as additional data from, the recent interim analysis of an ongoing Phase 2 study of VX-809 and KALYDECO (ivacaftor) that showed significant improvements in lung function among adults with cystic fibrosis who have two copies of the most common mutation in the cystic fibrosis transmembrane conductance regulator gene, F508del.