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Morning Market Snapshot: July 12, 2011
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Morning Market Snapshot: July 12, 2011
Good Morning. It’s Tuesday, July 12, 2011. At this hour, U.S. equity futures are lower. Overseas, the Asian markets fell , while the European markets are down. NCR Corp. (NYSE:NCR) and Radiant Systems (NASDAQ:RADS) announced a definitive agreement for NCR to acquire Radiant Systems through a cash tender offer of $28.00 per Radiant Systems share. The equity purchase price of $1.2B has been approved by each company's boards of directors. International Paper (NYSE:IP) announced that it will be commencing an unsolicited offer to acquire all of the outstanding shares of common stock of Temple-Inland (NYSE:TIN) for $30.60 per share in cash. Chesapeake Energy (NYSE:CHK) announced plans to create a $1B venture capital fund called Chesapeake NG Ventures Corp. Over the next 10 years, the company anticipates committing at least $1B to CNGV initiatives. Cliffs Natural (NYSE:CLF) raised its quarterly dividend 100% to 28c per share. Orbitz Worldwide (NYSE:OWW) announced a new partnership with Virgin Australia to power standalone hotel bookings on its Australian websites.
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Date Found: July 12, 2011
Date Produced: July 12, 2011
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