Morning Movers: 2/10: Principal Financial (PFG) Lower On Results; SiRF Technology (SIRF) Jumps On Merger - Street Insider

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Morning Movers: 2/10: Principal Financial (PFG) Lower On Results; SiRF Technology (SIRF) Jumps On Merger
Feb 10, 2009 02:56 PM UTC

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Via StreetInsider.com News Articles:

StreetInsider.com Morning Movers:

SiRF Technology Holdings, Inc. (Nasdaq: SIRF) 54% HIGHER; Announced a stock-for-stock merger agreement with CSR plc. Under the terms of the agreement, SiRF stockholders will receive 0.741 of a CSR share for each share of SiRF common stock they own. Based on the closing stock price for CSR on February 9, 2009, this consideration would be equivalent to $2.06 of CSR stock for each SiRF share, representing total consideration of $136 million. This represents a premium to SiRF stockholders of approximately 91% over SiRF's closing stock price on February 9, 2009.

The Principal Financial Group (NYSE:

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