cosco

coscoThere were numerous gainers on Wednesday, despite the market finishing flat. The lead gainer was a Chinese shipping company after it announced a cooperation agreement. Sino-Global Shipping America (SINO) jumped 150% after it announced a strategic cooperation agreement with COSCO Container Shipping Agency. Founded in 1998, COSCO Container Shipping Agency is a fully owned subsidiary of COSCO Container Lines and has more than 50 offices in coastal cities throughout China including Guangzhou, Dalian, Shanghai, Qingdao, Tianjin, Shenzhen, Xiamen and Ningbo. Quepasa (QPSA) climbed 39% after it and myYearbook announced a merger. The company announced that it executed a definitive agreement to merge with Insider Guides, DBA myYearbook, the best place to meet new people on the web or mobile

device, for $100 million, comprised of approximately $82 million in Quepasa common stock and approximately $18 million in cash. Over the past 12 months, myYearbook has experienced rapid growth in users and in mobile traffic. With over 1 billion page views on mobile platforms and 1.2 billion page views on the web each month, myYearbook is one of the largest media properties in the US. It is also the #1 web site in the comScore Teens category with more visits, minutes, and page views than any other site in the category. In 2010, myYearbook generated $23.7 million in revenue, up 53% year-over-year, and EBITDA of $4.9 million, up 315% year-over-year.
Nalco Holding (NLC) rose 24% after it agreed to be acquired for $5.4 billion. The company announced that it entered into a definitive merger agreement with Ecolab (ECL). Under the terms of the agreement, which was unanimously approved by the boards



of directors of both companies, Nalco's shareholders may elect to receive either 0.7005 share of Ecolab common stock per share of Nalco common stock or $38.80 in cash, without interest, per share of Nalco common stock. The overall mix of consideration paid to Nalco shareholders will be approximately 30% cash and 70% stock. Based on the closing price of Ecolab common stock on July 19, 2011, the aggregate consideration paid on a fully-diluted basis is $38.80 per Nalco share, or $5.4 billion. The consideration represents a 34% premium to Nalco's closing stock price on July 19, 2011, the last trading day prior to the announcement of the agreement.
TESSCO Technologies (TESS) jumped 24% after it announced ve

cosco