Tuesday’s biggest gaining and declining stocks

Shawshank, VA 5/29/12 (StreetBeat) -- Here are some of Tuesday’s biggest gaining and declining stocks:
Gainers

D.J. LeCroy (Nasdaq: LCRY +55.58%) shares jumped 56%. The firm said on Tuesday that it had agreed to be bought by Teledyne Technologies Inc. for $291 million.

Interline Brands (NYSE: IBI +39.80%) shares rose 42%. The firm said Tuesday that it is being bought by an investor group that includes Goldman Sachs Group Inc. for about $1.1 billion.

Shares of Peabody Energy Corp. (NYSE: BTU +4.81%) added 6.8% on Tuesday. Analysts at Goldman Sachs upgraded the shares to buy, saying the coal producer’s future in China, plus current valuations, make the shares attractive.

Decliners

Vertex Pharmaceuticals Inc. (Nasdaq: VRTX -16.15%) shares fell 19% on Tuesday. Earlier, the biotech firm said that it had revised study results for a recent clinical trial. The company said the trial showed 19% of patients experienced a 10 percentage point improvement or more, well below the 30% it had first seen.

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Interline Brands (NYSE: IBI) To Be Bought By GS Capital For $1.1 Billion

Atlanta, GA 5/29/12 (StreetBeat) -- Interline Brands Inc. (NYSE: IBI) agreed to be bought by affiliates of GS Capital Partners LP and P2 Capital Partners LLC in a deal valued at $1.1 billion including debt.

Interline shareholders will receive $25.50 a share, a premium of 42 percent over the closing price on May 25, according to a statement from Jacksonville, Florida-based Interline today. The company may solicit alternative proposals through June 28.

“This agreement provides excellent value to shareholders,” said Michael J. Grebe, Interline’s chairman and chief executive officer. “Interline has operated successfully in both public and private settings in the past. As we now look forward, GS Capital Partners and P2 Capital Partners have a shared vision of our value creation opportunities and the actions needed to realize them.”

In addition to equity from funds managed by GS Capital Partners and P2 Capital Partners, members of Interline’s management plan to invest a portion of their proceeds from the transaction, according to the statement. The company’s board of directors approved the offer.

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