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Stocks closed higher on Wednesday on optimism ahead of tomorrow’s CPI number. Amid the upside, several rumors swirled around Wall Street. Below we highlighted a couple:
PPL Corp. (NYSE:PPL) gained over 2% on reports from Bloomberg News that Elliott Investment Management has built a sizeable stake that is said to have made the firm a top 10 holder. Talks are said to be cordial and Elliott helped the company shape an updated business plan unveiled Wednesday.
Univar (NYSE:UNVR) gained over 2% on reports from Bloomberg News the company has drawn interest from private equity firms Apollo and Platinum. Earlier in the month, StreetInsider.com reported that the company has received takeover interest from multiple strategic buyers valuing the company at around $40 per share even as Brenntag SE ended talks to acquire the company.
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