Boston, MA 10/10/2014 (wallstreetpr) – Bloomberg has reported that troubled sapphire glass maker GT Advanced Technologies Inc (NASDAQ:GTAT) has been asked to file its motion seeking approval from the court to wind down its manufacturing plant immediately by the U.S. Bankruptcy court. Judge Henry Boroff of the U.S. Bankruptcy Court has set October 15th as the date of hearing of its petition. GT Advanced Technologies Inc (NASDAQ:GTAT) has cited its confidentiality agreement with Apple Inc. (NASDAQ:AAPL) as one of the key reasons why it will not go public with the reasons behind the surprise bankruptcy filing. Investors have been piling into the stock of the embattled firm ever since the firm filed for Bankruptcy protection. Since October 7th, the share price of the company stock has gained by nearly 61 percent. Stock shot up by 17.2 percent during 9th trading.
Kindred Healthcare, Inc. (NYSE:KND) announced on 9th October that it had entered into a binding agreement to buyout Gentiva Health Services, Inc. (NASDAQ:GTIV) for $1.8 billion. The deal is being funded via a cash and stock payout. The deal size also includes the accumulated debt of the bought out firm. The deal values each share of Gentiva Health Services, Inc. (NASDAQ:GTIV) at $19.50. This translates to a 16 percent premium on bought out firm’s previous day closing price. Investors hurried to increase their exposure to both the stocks yesterday. While Kindred Healthcare, Inc. (NYSE:KND) was up by 5.1 percent, Gentiva Health Services, Inc. (NASDAQ:GTIV) stock posted 16.64 percent gains.
Rentrak (NASDAQ:RENT) announced on 9th October that it had decided to purchase Kantar’s Consumer Insight business practice from London based firm WPP PLC (ADR) for $98 million. It will be paying for the purchase by issuing its common stock. The combined heft of the two firms is expected to help the companies to scale up faster and expand their product offerings in U.S. Share price of Rentrak (NASDAQ:RENT) was up by 11.72 percent to peak at $72.07 during yesterday’s trading.
