Endo Pharmaceuticals plans $2.6 billion purchase

Endo Pharmaceuticals Holdings Inc. said Monday that it is buying urology and pelvic health company American Medical Systems Inc. for about $2.6 billion, expanding its medical device business.

Endo is offering $30 a share in cash — a premium of 34 percent to Friday’s closing price of American Medical Systems shares. Endo will also assume $312 million in American Medical’s debt.

American Medical Systems stock jumped $7.13, or 31.9 percent, to $29.46 in afternoon trading.

American Medical Systems makes devices and therapies for pelvic health, urology and gynecology. The Minnetonka, Minn., company reported $542.3 million in sales in 2010.

In recent years Endo, of Chadds Ford, Pa., has diversified its focus from pain drugs to include generic drugs and medical devices. The company reported $1.72 billion in revenue in 2010.

Telecom power Level 3 to acquire Global Crossing

Level 3 Communications Inc. said Monday that it is buying Global Crossing Ltd. for $2 billion, joining two major long-distance telecommunications networks that carry massive amounts of Internet and other data traffic in the United States and internationally.

Both Level 3 and Global Crossing operate vast networks of optical fiber used by other telecom carriers, corporations and government agencies. The combined company’s reach would extend to 70 countries on three continents.

Despite steadily increasing data traffic, the prices Level 3 and companies like it can charge for carrying that traffic have been driven down by competition, said Erik Kreifeldt, a senior analyst with the research firm TeleGeography.

Battle for control of NYSE heading to shareholders

A battle for control of the New York Stock Exchange moved into dueling appeals to shareholders Monday, a day after a rival bidder complained that its $11.3 billion bid was rejected without discussion.

NYSE Euronext Inc. said Sunday that its board decided to turn down an offer from rival Nasdaq OMX Group Inc. and Intercontinental Exchange Inc. because it was “highly conditional” and would have caused unnecessary risk for shareholders. Instead, the company reaffirmed its plan to combine with German exchange operator Deutsche Boerse AG in a $10 billion deal.

Nasdaq and Intercontinental Exchange Inc. say their bid is “clearly superior.” ICE Chairman and CEO Jeffrey Sprecher said in a statement that by declining to meet with Nasdaq and ICE, the NYSE’s board was ignoring its obligation to its stockholders.

Walmart launches new ads in bid to win back shoppers

Walmart Stores Inc. is hammering home its low-price message with a new ad campaign in a bid to bring back customers who no longer trust it to save them money.

The campaign, which started Monday, bears the slogan “Low Prices. Every Day. On Everything.” It features five 30-second commercials, including ads showing an Easter egg hunt and a customer asking for a price match.

The slogan “Save Money. Live Better,” in use for several years, now appears in smaller type in the ads.

Georgia company buying Tasty Baking for $34 million

A Georgia food company announced a $34.4 million cash deal Monday to acquire Tasty Baking Co., the iconic maker of Tastykakes and other packaged sweets that earlier this year was forced by financial difficulties to explore a merger or sale.

Thomasville, Ga.-based Flowers Foods Inc., which makes breads, buns, rolls, snack cakes, pastries, and tortillas, is paying $4 a share for Tasty Baking’s 8.6 million shares outstanding.

The price is more than double Tasty Baking’s closing price Friday of $1.61 a share.