Lexmark International Inc (NYSE:LXK) shares have soared by over 13% after The Committee on Foreign Investment in the United States (CFUIS) found that there are no unresolved national security issues associated with Apex Technology and PAG Asia Capital’s proposed acquisition of the company for $40.50 in cash per share. In turn, CFIUS has granted the acquirers and Lexmark approval to proceed with the proposed transaction. Evidently many in the market weren’t counting on the deal’s approval, leading room for the big rally today. Both parties expect the deal to close in 2016. Robert Emil Zoellner‘s Alpine Associates initiated a new stake of over 1.01 million shares in Lexmark International Inc (NYSE:LXK) during the second quarter.
Traders are watching Canadian Solar Inc. (NASDAQ:CSIQ) and JinkoSolar Holding Co., Ltd. (NYSE:JKS) after Bloomberg reported that China’s government plans to trim renewable-energy tariffs according to a report on the website of the China Industrial Association of Power Sources. Due to lower solar production costs, the government could potentially cut solar-power tariffs by 23% or more beginning in 2017. Given that many solar stocks have already been beaten-up this year, it seems that some in the market already anticipated the news. Shares of JinkoSolar are flat, while those of Canadian Solar are off by just 1%.
16 hedge funds that we track were long Canadian Solar Inc. (NASDAQ:CSIQ) on June 30, while just four were shareholders of JinkoSolar Holding Co., Ltd. (NYSE:JKS).