TransCanada buyout offer sends Columbia Pipeline shares up 6 percent

March 19, 2016 at 4:45PM
FILE - This July 25, 2011, file photo, shows the Sheraton Fort Lauderdale Beach Hotel, a member of the Starwood Hotels and Resorts group, in Fort Lauderdale, Fla. A fight for control of the Starwood hotel chain is under way after a buyout offer from a consortium led by China’s Anbang Insurance Group. Starwood Hotels & Resorts Worldwide Inc. said Monday, March 14, 2016, that it still favors the bid from Marriott, but that it’s looking at the latest bid. (AP Photo/Wilfredo Lee, File)
Starwood Hotels jumped 8 percent on Monday. Above, Sheraton Fort Lauderdale Hotel, part of Starwood. (The Minnesota Star Tribune)

Pipeline flowing: Columbia Pipeline Group climbed 6 percent to $24.84 Friday after TransCanada Corp. agreed to buy the company for $10 billion, or $25.50 per share, in an attempt to expand further into the U.S.

Burned: Williams-Sonoma lost 6.3 percent, to $55.71 Thursday after the seller of cookware and home furnishings disclosed disappointing fourth-quarter results and gave a disappointing outlook for 2016. Weak performance at Pottery Barn was a key factor. Shares closed Friday at $56.73.

Check-in: Starwood Hotels jumped 8 percent to $75.93 Monday after a consortium led by China's Anbang Insurance Group offered to buy the hotel chain for $14 billion. On Friday, Starwood said it would terminate a plan to be acquired by Marriott International. Starwood shares closed the week at $80.57.

Food play: The Fresh Market jumped 23.5 percent, to $28.39 Monday after private equity firm Apollo Global said it will buy the grocery store chain for $1.3 billion, or $28.50 per share. The stock closed Friday at $28.52.

Study surge: Drug developer GW Pharmaceuticals more than doubled Monday to $84.71 after it reported positive results from a late-stage study of its drug Epidiolex, an experimental seizure disorder treatment. GW shares closed the week at $72.72.

Valeant tumbles: Valeant Pharmaceuticals' preliminary fourth-quarter profit disappointed investors and the drugmaker cut its estimates for 2016. It's already under scrutiny from Congress over drug prices. The stock dropped 30.9 percent, to $47.70 Tuesday. Shares closed the week at $26.98.

news services

about the writer

about the writer

More from Business

See More
Hennepin Healthcare Clinic and Specialty Center,l 8th Street between Park Av and Chicago Av.
The Minnesota Star Tribune

Minneapolis-based Hennepin Healthcare says it also will suspend contributions to some worker retirement plans while pausing $24 million in capital projects.

The newly renovated Parkway Theater is next door to the new restaurant El Burrito Mercado.
card image