Market Roundup

Shares of Ashland Inc ASH jumped about 10% after the company announced its plans to buy specialty chemical maker International Specialty Products Inc for around $3.2 billion in cash. The deal is expected to close before the end of the fourth quarter and is likely to be immediately accretive to Ashland's earnings per share. Australian company Toll Holdings Ltd THKUY announced its plans to acquire 40% of Chinese firm Tianjin Anda Logistics. The company has not disclosed the price of the stake. Shares of Optimer Pharmaceuticals Inc OPTR gained about 6.5% after the company reported that the US Food and Drug Administration (FDA) has approved its antibacterial drug Dificid to treat Clostridium difficile. Shares of Phillips-Van Heusen Corporation PVH dropped about 0.7% as the company is all set to release its Q1 results after the closing bell. Analysts expect PVH to report its Q1 earnings at $1.16 per share on revenue of $1.34 billion. Shares of Columbia Banking System Inc COLB gained about 1.2% after the company reported that its subsidiary, Columbia State Bank, has bought all of the deposits and almost all of the assets of First Heritage Bank from the Federal Deposit Insurance Corporation (FDIC). Shares of Agilysys Inc AGYS surged about 38% after the company announced its plans to sell its technology solutions business to OnX enterprise solutions for $64 million. The deal is expected to close in the fiscal 2012 second quarter. Read more from Benzinga's Markets.