We’ve got a post this morning on stock compensation at Krispy Kreme for you (below), but first this: Another of the companies on our list of top targets for M&A activity in 2011 is being acquired. Pride International (PDE) said this morning that it plans to be acquired by Ensco PLC (ESV) in a cash-and-stock deal at $41.60 a share.
For those keeping score at home, that’s $7.62 (or 22%) higher than the stock’s close on January 14, when we published our M&A report (and PDE was trading at $33.98). Pride’s shares have been trading at a little over $40 this morning, up more than 18% from January 14. You can see the full report on our 2011 M&A picks if you’re a FootnotedPro subscriber, or you can request a copy if you’re not.
In any case, with Smurfit-Stone Container (SSCC), two of our Top 10 picks for 2011 now appear to be heading to a deal. Not bad for the second week of February.