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French drug maker Sanofi-Aventis SA said Monday it has agreed to buy U.S. health-care Company Chattem Inc. (CHTT) for about $1.9 billion in cash in a deal it said would create the world's fifth-largest consumer healthcare company. Paris-based Sanofi-Aventis said it will offer $93.50 per share to acquire 100 percent of Chattem, a Chattanooga, Tenn., maker of consumer health-care products such as Gold Bond skin care creams and Icy Hot pain relief medicine. The deal is part of a strategy by Sanofi and other top pharmaceutical companies to diversify, particularly into areas with stable product revenue as they face a wave of patent expirations in the next several years. Shares of Chattem Inc. rallied over 30 percent on the news and hit an intraday high of $93.10 on massive volume.

Quixote Corporation (QUIX) today announced that it has sold the stock of the companies comprising its Inform segment to Vaisala, Inc., a subsidiary of Vaisala Oyj, a global leader in environmental and industrial measurement systems, in an all cash transaction valued at $20 million. The Inform segment recorded revenue of $22.6 million, or 24% of total revenue, in fiscal 2009. Quixote rallied on the news holding gains of 16 percent after climbing as high as $2.45 on above average trading volume.

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