U.S. markets have been up and down over the last five days, but the S&P 500, Dow and Nasdaq all closed higher on Monday. These three stocks, EGAS, ASMB and ENH, have seen big gains over the last five sessions. Here’s why:
1. Gas Natural Inc. (EGAS)
Shares of Gas Natural Inc. are up more than 60% over the last five days. What sent the stock soaring? At the end of September, the company announced a quarterly dividend of $0.075 per share. But the big news for the company is that it signed a merger agreement with First Reserve Energy Infrastructure on Monday.
Under the agreement, First Reserve will pay $13.10 per share for all of Gas Natural’s outstanding shares, which brings the deal’s total to $196 million. The price per share represents a premium of around 39% over the company’s 52-week high.
2. Assembly Biosciences (ASMB)
Assembly Biosciences stock is up 47.77% over the last five days. While no breaking news has been reported, the company did announce new additions to its microbiome team on September 28. Just one week prior to the announcement, Assembly Biosciences said it would be participating in HBV scientific meetings in South Korea and China.
The biotechnology company is working on new treatments for hepatitis B virus.
3. Endurance Specialty Holdings Ltd (ENH)
Shares of Endurance Specialty Holdings is up 41.55% over the last five days on news that the company is being purchased by SOMPO Holdings Inc. for $6.3 billion in cash.
The transaction is still pending shareholder approval, but is expected to close by March 2017. The acquisition will help SOMPO Holdings boost its foothold in the U.S.
The deal equates to $93 per share, which represents a 40.3% premium on Endurance’s closing price on October 3.
The deal is part of SOMPO’s strategy to expand its overseas insurance operations.
