In this report: Prestige Brand Holdings (NYSE:PBH), Google (NASDAQ:GOOG) and Winn-Dixie Stores (NASDAQ:WINN).
Prestige Brand Holdings (NYSE:PBH) is trading over 21 percent higher today after the company announced that it would acquire 17 over the counter healthcare brands that are sold in North America from GlaxoSmithKline for $660 million in cash. The company said that its strengthened portfolio with allow it to generate around $500 million in revenues from total over the counter products. The acquisition will also allow the company to enter into two new categories including adult aspirin-based analgesics and gastrointestinal. Prestige Brand Holdings currently trades at $11.36 per share.
Google (NASDAQ:GOOG) is trading 1.5 percent higher today after it would operate with global investment firm Kohlberg Kravis Roberts & Co. to acquire a portfolio of solar facilities that are expected to serve the Sacramento Municipal Utility District from Recurrent Energy. The portfolio includes four solar photovoltaic facilities and has been financed through both debt and equity. Three of the projects are expected to be finished in the early part of next year while the fourth is expected to be completed towards the end of 2012. The portfolio of projects are expected to provide around 88 megawatts of power to the Sacramento Municipal Utility District.
Winn-Dixie Stores (NASDAQ:WINN) traded over 0.9 percent higher today despite receiving a downgrade by analysts at Jefferies. The firm cut its rating on Winn-Dixie to ‘Hold’ from ‘Buy’ following yesterdays takeover news. Winn Dixie currently trades at $9.32 per share.
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