KITE Kite Pharma, Inc.

   By Cara Lombardo 
 

Companies with shares expected to trade actively in Monday's session include Kite Pharma Inc. (KITE), Ixys Corp. (IXYS), and EOG Resources Inc. (EOG).

Gilead Sciences Inc.(GILD) said Monday it will buy Kite Pharma for roughly $11 billion, sending Kite shares up roughly 29% premarket. Kite's primary drug, which harnesses the body's immune system to fight lymphoma and other blood cancers, is up for approval in the U.S. and Europe. Gilead will pay $180 per Kite share, representing a 29% premium over Kite's Friday closing price.

Shares in semiconductor-maker Ixys are up 41% premarket after Littelfuse Inc.(LFUS) announced plans to buy it for $750 million. Littelfuse said it was making the purchase to bolster its presence in the power control and industrial markets and the combined firm would generate about $1.5 billion of revenue a year.

EOG is one of the oil producers that has suspended operations in southern Texas as Tropical Storm Harvey dumps heavy rains and floods the Houston area. Five deaths believed to be storm-related had been reported in the Houston area as of Sunday evening. The storm has also taken almost 15% of the U.S. refinery capacity offline. EOG shares are down 0.8% to $83.82 premarket.

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

August 28, 2017 09:14 ET (13:14 GMT)

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