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A team of private-equity firms led by Bain Capital and Golden Gate Capital agreed to buy BMC Software
) for $46.25 per share in cash, or $6.9B. BMC shares, which were up over 9% over the last six months as the deal negotiations were widely reported, were flat at $45.42 near noon.
S&P announced after the close of trading Friday that Macerich
) was selected to take the spot in the S&P 500 index that will be vacated by Coventry Health Care
), which is being acquired by Aetna
). Shares of Macerich, which will be added to the S&P 500 as of the close of trading Wednesday, were nearly unchanged in midday trade.
Among the notable gainers was MBIA
), which surged over 40% after Dow Jones, citing sources, reported that the company had agreed to a $1.7B lawsuit settlement with Bank of America
Also higher was Arkansas Best
), which rose 30% after reaching a tentative labor agreement with the Teamsters union.
Among the noteworthy losers were LINN Energy
), which fell 7%, and its spin-off LinnCo
), which dropped nearly 8%, following a cautious mention in this weekend's Barron's magazine.
Also lower were shares of Tyson Foods
), which slid 4% after its earnings report.