Data storage firm 3PAR (NYSE: PAR) said on Friday it had accepted a boosted takeover bid from Dell (NASDAQ: DELL) for 1.8 billion dollars, which topped an offer from rival computer maker Hewlett-Packard (NYSE: HPQ). Late on Thuraday, Hewlett Packard increased its proposal to acquire all of the outstanding shares of 3PAR to $27.00 per share in cash, or an enterprise value of $1.8 billion. HP today announced that it has once again increased its proposal to acquire all of the outstanding shares of 3PAR Inc. to $30 per share in cash, or an enterprise value of $2.0 billion. Shares of 3PAR surged as much as 19% in pre-market trading.
The Boeing Company (NYSE: BA) said today that it now expects delivery of the first 787 in the middle of the first quarter 2011. The delivery date revision follows an assessment of the availability of an engine needed for the final phases of flight test this fall. While Boeing works closely with Rolls-Royce to expedite engine availability, flight testing across the test fleet continues as planned. Boeing said last month that the cumulative impact of a series of issues, including supplier workmanship issues related to the horizontal stabilizer and instrumentation delays, could push first delivery of the 787 a few weeks into 2011. The delay in engine availability has extended that estimate to mid-first quarter 2011. The schedule revision will not affect the company's financial guidance. Shares of Boeing slumped as much as 1% in pre-market trading.
ImmunoGen, Inc. (NASDAQ: IMGN), a biotechnology company that develops antibody-based targeted anticancer products, today announced that Genentech, a member of the Roche Group, today announced its receipt of a Refuse to File (RTF) letter from the US Food and Drug Administration (FDA) for the accelerated approval of the Biologic License Application (BLA) for trastuzumab-DM1, or T-DM1, submitted in July 2010. Genentech also stated that as planned, it will continue with its ongoing Phase III registrational T-DM1 trial, known as EMILIA, and that it will continue to work with the FDA and expects to submit a new T-DM1 BLA in mid-2012. Shares of ImmunoGen sank as much as 37% in pre-market trading.
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