Stocks In Focus: SKS, DE, MMM
Tuesday, August 31, 2021 8:21 AM

Shares of Saks Inc. (NYSE: SKS) jumped more that 17% in pre-market trading on Tuesday after U.K.'s Daily Mail newspaper reported that a private equity consortium, comprised of U.S. and U.K. players, is looking to make a bid for the company. According to the report, due diligence is almost complete and a cash bid of $1.7 billion, or $11 per share, could be announced soon.

Deere & Company (NYSE: DE) announced early Tuesday that it has signed a definitive agreement to sell John Deere Renewables, LLC, its wind energy business, to Exelon Generation Company, LLC, a wholly-owned subsidiary of Exelon Corporation. Deere said the $900 million sale, including earn-out provisions, will result in an after-tax charge of approximately $25 million in its fourth quarter results. The charge was not reflected in Deere's fourth quarter earnings forecast of approximately $375 million that was announced August 18th.

3M (NYSE: MMM) announced Tuesday that it has agreed to acquire Attenti Holdings S.A. from an investor group led by Francisco Partners, for a purchase price of $230 million in cash. Based in Tel Aviv, Israel, Attenti is a leading supplier of remote people monitoring technologies used for a variety of offender monitoring applications, such as people awaiting trial or on probation; and to assist eldercare facilities in monitoring and enhancing the safety of patients.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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