Novelis Inc. (NYSE:NVL) shares are up over 24% since last week on reports that Aditya Birla Group could make an offer for the company. The reports cited a $5 to $6 billion offer that would include the assumption of $2.4 billion in debt, which would would put a potential offer at $35 to $49 share. Analysts at Davenport also suggested that there could be other bidders for the company and maintain their belief that NVL shares could be worth around $68 per share on a takeover basis, based on the NPV of free cash flows through 2010. Officially, the company said it was "in discussions with various parties that could lead to a potential sale of the company". Meanwhile, the company's shares moved down today on reports that the company was interested in acquiring Hindalco. While the company has yet to comment, the acquisition would not make much sense for NVL on the surface, as the two would have very few synergies. Overall, this is definitely a stock to keep an eye on as the company continues its discussions with interested parties!

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PYR Energy Corp. (AMEX:PYR) shares moved up $0.13, or 14%, to $1.06 in mid-day trading today after Samson Investment Company made a $1.23 per share offer for the company. The Schedule 13D filing noted that the fund had attempted to contact the company's board several times without receiving a response and therefore decided to make their offer public. Samson said they would acquire 100% of the outstanding common shares at a cash price of $1.23 per share, which represents a 30% premium over Friday's $0.94 share price. Moreover, the investment company said that the buyout would be funded with cash on hand, so no financing would be required. Consequently, Samson said that it could quickly finalize an acquisition agreement and proceed without delay. Finally, they requested a response to the proposal no later than 4:00PM CST on February 1, 2007. Overall, this would be a smooth transaction for both the company and its shareholders. Given the substantial premium of the stock's current market price, the company will likely be forced to at least respond to the offer or risk alienating many of their shareholders. We could not reach the company for comment yet, but we will update this page if and when we hear back from them. Until then PYR is definitely a stock worth keeping an eye on as this situation unfolds!

UPDATE: The company's IR informed us that the they are currently reviewing the offer and offered no further comment.

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Bristol-Myers Squibb Co. (NYSE:BMY) shares moved up $1.72, or 6.56%, to $27.93 in early trading today after rumors surfaced that the company could be acquired by Sanofi-Aventis (NYSE:SNY). La Lettre de l'Expansion - a French newspaper - reported that a pre-merger memorandum has even been signed last week. Meanwhile, both Sanofi-Aventis and Bristol-Myers declined to comment on the speculation.

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