All Eyes On Wal-Mart, Valero, Kinder Morgan, 2 More This Morning

Imprivata Sold to Private Equity Firm

Imprivata Inc (NYSE:IMPR) shares have surged by 31% after private equity firm Thoma Bravo agreed to buy the company for $19.25 in cash per share, for a total transaction value of $544 million. Shares of Imprivata had already performed very well in 2016 before the deal, rising by 28% year-to-date. The company did not release the estimated closing date of the transaction in the press release. Nine elite funds were long Imprivata Inc (NYSE:IMPR) at the end of the first quarter, including Justin John Ferayorni’s Tamarack Capital Management, which held 1.71 million shares.

Two midstream companies are trending today after Valero Energy Corporation (NYSE:VLO) agreed to buy Kinder Morgan Inc (NYSE:KMI)‘s 50% stake in Parkway Pipeline LLC for an undisclosed sum of cash. The Parkway Pipeline is a 141-mile pipeline with 110,000 barrels per day of capacity, with the ability to expand to over 200,000 barrels per day. Valero’s purchase gives it 100% interest in the pipeline and improves Kinder Morgan’s cash balance.

According to our database, 46 top funds had a bullish position in Valero Energy Corporation (NYSE:VLO) at the end of the first quarter. The smart money was a bigger fan of Kinder Morgan Inc (NYSE:KMI), with 58 top funds reporting bullish positions in the company as of the same time period.

Disclosure: None