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By Stephen Nakrosis
Shares of three companies which are takeover targets — Renewable Energy Group, Inc., IntriCon Corp. and First Horizon Corp. — are trading higher Monday.
Chevron Corp. said it would acquire all shares of Renewable Energy in an all-cash deal valued at $3.15 billion. At 11:41 a.m. ET, Renewable Energy’s shares were trading 39.08% higher, at $60.93 a share. Volume at the time topped 6.8 million shares, above the stock’s 65-day average volume of 781,207 shares.
Altris Capital Partners LLC said it agreed to acquire IntriCon in a deal valued at about $241 million. At 11:46 a.m. ET, shares of IntriCon were trading 37.13% higher, at $23.92.
First Horizon Corp. shares were trading higher following news Toronto-Dominion Bank agreed to acquire it in a $13.4 billion deal. At 11:53 a.m. ET, First Horizon shares were trading 29.81% higher, at $23.69 a share. Earlier Monday, shares of First Horizon hit a 52-week high of $24.24 a share.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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