Hillshire Brands–Pilgrim's Pride proposed an acquisition of Hillshire for $45 per share in cash or $6.4 billion. That comes just two weeks after Hillshire announced a $4.3 billion cash-and-stock deal to buy Pinnacle Foods.
AstraZeneca—Pfizer said it would not make a formal offer to buy its rival drug maker. AstraZeneca had said that Pfizer's most recent informal bid still undervalued the company.
Shares of Durata Therapeutics are off 23% premarket on modest volume in apparent profit-taking after the pre-Dalvance approval run-up over the past 30 days when shares popped ~45% from the April 14 low of $11.68.
New day high in the last 30 minutes.