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$EMR said it agreed to sell Network Power to Platinum Equity and a group of co-investors. The transaction is valued at $4Bil and $EMR will retain a subordinated interest in Network Power. The sale of Network Power is expected to close by Dec. 31, 2016. Network Power will continue to be led by Scott Barbour, who has been EVP of $EMR.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?