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Company News for July 6, 2011

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•    Share prices of Southern Union Co. (NYSE:SUG) rose 4.21% to close at $42.07 after Energy Transfer Equity, L.P. (NYSE:ETE) increased its bidding amount by 21% to $5 billion for the company, beating William's (NYSE:WMB) bid of $4.9 billion

•    U.S. mining giant Peabody Energy Corp. (NYSE:BTU) was amongst a consortium selected by the  Mongolian Government  to develop the Tavan Tolgoi  coal mining project in the Gobi Desert

•    Analysts of Wells Fargo (NYSE:WFC) opined that a medical journal report about Medtronic’s (NYSE:MDT) spine device will slow down sales. The report could also lead to investigations by federal regulators

•    Analysts at Oppenheimer & Co. (NYSE:OPY) initiated coverage on shares of Zalicus, Inc. (NASDAQ:ZLCS) with an "Outperform" rating and a target price of $4.00

•    Shares of Immucor, Inc. (NASDAQ:BLUD) zoomed up 30.20% after TPG Capital agreed to buy the company for $27 per share or for about $2 billion

•    St. Joe's (NYSE:JOE) shares fell 9.10%  after a filing revealed that the real-estate development company was being investigated by the SEC, primarily because of accounting issues and lands valuation methods

•    Western Union (NYSE:WU) unveiled plans to acquire Travelex's Global Business Payments division for about $968.7 million. The acquisition will allow the company to develop its international business payments services

•    Shares of El Paso Electric (NYSE:EE) were upgraded by analysts at Goldman Sachs (NYSE:GS) to  "Buy" rating from  "Neutral" rating

•    Analysts at Morgan Stanley (NYSE:MS) initiated coverage on Yandex (NASDAQ:YNDX)  with an "Overweight" rating and a target price of $42.00

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