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(EMAILWIRE.COM, December 22, 2009 ) Windsor, Ontario - FreeHotPennyStocks.com, an online financial publication, provides investors timely stock market alerts. If you are interested in penny stocks that are poised to breakout sign up for our free penny stock newsletter. Each day we send out alerts on different hot penny stock picks. For more FREE ALERTS SIGN UP AT http://www.freehotpennystocks.com
French drug maker Sanofi-Aventis SA said Monday it has agreed to buy U.S. health-care Company Chattem Inc. (CHTT) for about $1.9 billion in cash in a deal it said would create the world's fifth-largest consumer healthcare company. Paris-based Sanofi-Aventis said it will offer $93.50 per share to acquire 100 percent of Chattem, a Chattanooga, Tenn., maker of consumer health-care products such as Gold Bond skin care creams and Icy Hot pain relief medicine. The deal is part of a strategy by Sanofi and other top pharmaceutical companies to diversify, particularly into areas with stable product revenue as they face a wave of patent expirations in the next several years. Shares of Chattem Inc. rallied over 30 percent on the news and hit an intraday high of $93.10 on massive volume.
Quixote Corporation (QUIX) today announced that it has sold the stock of the companies comprising its Inform segment to Vaisala, Inc., a subsidiary of Vaisala Oyj, a global leader in environmental and industrial measurement systems, in an all cash transaction valued at $20 million. The Inform segment recorded revenue of $22.6 million, or 24% of total revenue, in fiscal 2009. Quixote rallied on the news holding gains of 16 percent after climbing as high as $2.45 on above average trading volume.
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