For Immediate Release
Chicago, IL – March 3, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Millipore Corporation (MIL), Merck & Company (MRK), General Dynamics (GD), Lockheed Martin Corp. (LMT) and Raytheon Co. (RTN).
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Here are highlights from Tuesday’s Analyst Blog:
Merck KGaA Buys Millipore
Millipore Corporation (MIL), a leading life science company, and Merck KGaA, the Germany-based pharmaceutical and chemicals company, entered into a definitive agreement under which Merck will acquire all outstanding shares of common stock of Millipore for US$107 per share in cash, or a total transaction value, including net debt, of approximately €5.3 billion (US$7.2 billion).
MercK KGaA, also called the German Merck or Merck Dermstadt is one of the oldest chemical and pharmaceutical companies in the world. The company lost its foreign assets following the First World War, including its U.S. subsidiary that eventually became Merck & Company (MRK). Since Merck & Company holds the rights to the Merck name in the U.S., Merck KGaA operates here under the name EMD Chemicals (EMD stands for Emanuel Merck, Dermstadt). Merck KGaA was privately owned until 1995 when it went public in Germany. However, the Merck family remains its controlling shareholder.
The transaction was approved by the boards of directors of both companies. Millipore and Merck will create a €2.1 billion (US$2.9 billion) world-class partner in the life science sector, achieving significant scale in high-margin specialty products with an attractive growth profile.
Together, Millipore and Merck will have a significant presence in high-growth segments and an enhanced geographic presence. Combining the research and development capabilities of both companies will create a powerful innovation platform to develop cutting-edge technologies that are tailored even more closely to the needs of customers.
General Dynamics Wins Contract
General Dynamics’ (GD) wholly-owned subsidiary – General Dynamics NASSCO, has been awarded an $824.6 million contract by the U.S. Navy for the construction of two T-AKE dry cargo-ammunition ships.
Construction of the two ships is scheduled to begin in the second and fourth quarters of 2010, respectively. NASSCO expects to deliver both ships to the Navy’s Military Sealift Command in 2012.
General Dynamics NASSCO has the only full-service ship construction and repair yard on the West Coast of the U.S. The shipyard delivered its ninth T-AKE ship on February 24 and is currently building the tenth through the twelfth ship of the class.
General Dynamics’ total backlog was $65.5 billion at fiscal-end 2009, reflecting an increase mainly in both the Aerospace and Combat Systems segments.
Headquartered in Falls Church, VA, General Dynamics is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. The company operates through four business segments − Information Systems & Technology, Combat Systems, Marine Systems, and Aerospace. Its major competitors are Lockheed Martin Corp. (LMT) and Raytheon Co. (RTN).
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