News Summary

Shares of Telvent GIT SA TLVT surged about 15% after the company agreed to be bought for $2 billion by Schneider Electric SA SBGSY. The cash offer by Schneider Electric values the shares of Telvent at $40 each, representing a 36% premium to Telvent's average share price over the past three months. Abengoa ABGOF, the Spanish provider of renewable-energy solutions, agreed to sell its 40% stake in Telvent to Schneider in the deal. Shares of Sealed Air Corporation SEE dropped about 2% after the company announced its plans to acquire Diversey Holdings for $4.3 billion. SEE will buy Diversey Holdings for $2.9 billion in cash and stock. Shares of Dollar General Corp DG fell about 7.7% after the company reported a 15% rise in its fiscal first-quarter profit. Dollar General reported its quarterly earnings at $157 million, or $0.45 per share, up from $136 million, or $0.39 per share, in the year-earlier period. Its adjusted net income surged to $0.48 per share, from $0.42 per share. DG's sales increased 10.9% to $3.45 billion. Its sales at stores open at least a year, or same-store sales, surged 5.4%. However, analysts were expecting earnings of $0.50 per share on revenue of $3.42 billion. Dollar General continues to project adjusted 2011 earnings of $2.20 to $2.30 per share, versus analysts' estimates of $2.26 per share. Read more from Benzinga's Markets.