Monday Market Movers: Acquisitions, Dividend Hikes, and Labor Deals

Microsoft's stock slumped following a downgrade from Goldman Sachs, while Microsemi's purchase of Actel sent shares surging. Sara Lee rejected a $12 billion leveraged deal, and Dynamex agreed to be acquired by private equity firm Greenbriar Equity Group. Amidst the market activity, several companies announced dividend hikes and labor deals, while others disclosed acquisitions and sales.

Key Takeaways:

Microsemi Corp. agreed to acquire Actel Corp. for $430 million, net of Actel's projected cash balance at closing, with shares of Actel surging 30% to $20.90 in pre-market trading.
Microsoft Corp.'s shares fell 1.7% to $23.97 in pre-market trading after Goldman Sachs cut its stock-investment rating to neutral from buy.
Sara Lee Corp. rebuffed an unsolicited proposal from KKR & Co. LP that could have led to a $12 billion leveraged deal, with Sara Lee's shares rising 18% to $15.85 in pre-market trading.
Dynamex Inc. agreed to be acquired by private equity firm Greenbriar Equity Group, paying shareholders a 39% premium, with shares surging 38% to $21.09 in pre-market trading.
MI Developments Inc.'s controlling holder offered to buy out all shares that it doesn't already hold at a 22% premium to Friday's closing price, with shares up 19% to $12.75 in pre-market trading.
CBOE Holdings Inc. reported a 20% drop in average trading volume on its namesake exchange from a year ago, although trading volume at its futures exchange more than doubled.
Canadian National Railway Co. reached a tentative labor deal with the union representing its train conductors, yardmen, and traffic coordinators.
Eagle Rock Energy Partners LP announced two acquisitions for a combined $31.7 million, including gas gathering facilities and related assets in Texas from CenterPoint Energy Inc. for $27.5 million.
Huron Consulting Group Inc. cut its 2010 revenue forecast following project delays and disclosed the sale of its disputes-and-investigations business to Grant Thornton LLP.
McGraw-Hill Cos.' McGraw-Hill Education acquired privately held Tegrity Inc., a lecture capture software company, while LCA-Vision Inc. announced further declines in the number of laser-vision corrections.

Statistics:

Actel Corp. shares surged 30% in pre-market trading to $20.90 after the acquisition announcement.
Microsoft Corp. shares fell 1.7% to $23.97 in pre-market trading.
Sara Lee Corp. shares rose 18% to $15.85 in pre-market trading.
Dynamex Inc. shares surged 38% to $21.09 in pre-market trading.
MI Developments Inc. shares were up 19% to $12.75 in pre-market trading.
CBOE Holdings Inc. reported a 20% drop in average trading volume on its namesake exchange from a year ago.
Canadian National Railway Co. agreed to a tentative labor deal with the union representing its train conductors, yardmen, and traffic coordinators.
Eagle Rock Energy Partners LP announced two acquisitions for a combined $31.7 million.
Huron Consulting Group Inc. cut its 2010 revenue forecast by an undisclosed amount.
McGraw-Hill Cos.' McGraw-Hill Education acquired privately held Tegrity Inc. for an undisclosed amount.
LCA-Vision Inc. announced a 25% drop in the number of laser-vision corrections from a year ago.

Sources:

Dow Jones Commodities News Select via Comtex (Oct 04, 2010)
Comtex News Network, Inc. (As of Thursday, 09-30-2010 23:59)
Dow Jones Newswires (Oct 04, 2010)