RISERS
Dynegy Inc (NYSE:DYN) added over 45% to US$0.32 on the day
It came after the electricity group announced that it had agreed to a merge with another power generator, Vistra Energy Corp (NYSE:VST) in an all stock deal worth over US1.7bn.
Under the terms of the merger, Dynegy shareholders will receive 0.652 shares of Vista for each Dynegy shares they own, valuing Dynegy shares at US$13.24 each and putting an 18% premium to its closing price on Friday.
Elsewhere, Calatlantic Group Inc (NYSE:CAA) added 22.55% to US$49.58 after news that Lennar Corp (NYSE:LEN) has agreed to merge with the rival in a stock-and-cash deal, turning the combined entity into one of the top three housebuilders by revenue in the United States.
FALLERS
Meanwhile, Aviragen Therapeutics Inc (NASDAQ:AVIR) saw its shares in New York plunge over 15% to US$0.70 each.
It has entered a definitive merger agreement with Vaxart Inc, a privately-held, clinical-stage company focused on developing oral vaccines, allows for administration by tablet rather than by injection.
The merger will result in a combined company - Vaxart Inc, which will be focused on developing orally-delivered therapeutics and prophylactics to address a variety of viral infections.