diamond resorts

StreetInsider.com Unusual 11 Mid-Day Movers: Bluegreen Corporation (NYSE: BXG) 89.9% HIGHER; signed a non-binding letter of intent relating to the acquisition of the Company at a price of $15.00 per share by Diamond Resorts International, which would value this transaction at approximately $500 million, exclusive of Bluegreen’s outstanding debt.

UAL Corporation (Nasdaq: UAUA) 52.9% HIGHER; reports a Q2 loss of $1.19 versus consensus of $2.05 loss. Revenues came in at $5.37 billion versus $5.39 billion consensus.

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Bluegreen Corporation (NYSE: BXG) signed a non-binding letter of intent relating to the acquisition of the Company at a price of $15.00 per share by Diamond Resorts International, which would value this transaction at approximately $500 million, exclusive of Bluegreen’s outstanding debt.
  
  Under the terms of the letter of intent, Bluegreen has granted Diamond Resorts an exclusive right of negotiation through September 15, 2008, during which time Diamond Resorts will conduct more extensive due diligence.

StreetInsider.com Pre-Open Movers:

Bluegreen Corporation (NYSE: BXG) 108% HIGHER; signed a non-binding letter of intent relating to the acquisition of the Company at a price of $15.00 per share by Diamond Resorts International, which would value this transaction at approximately $500 million, exclusive of Bluegreen’s outstanding debt.

Assured Guaranty Ltd.

(NYSE: AGO) 48% LOWER; Moody's said it is reviewing the company's Aaa rating for a possible downgrade.

Foundry Networks, Inc.

StreetInsider.com After-Hours Movers:

Bluegreen Corporation (NYSE: BXG) 108% HIGHER; signed a non-binding letter of intent relating to the acquisition of the Company at a price of $15.00 per share by Diamond Resorts International, which would value this transaction at approximately $500 million, exclusive of Bluegreen’s outstanding debt.

Foundry Networks, Inc.

(Nasdaq: FDRY) 32% HIGHER; Brocade (Nasdaq: BRCD) announced a definitive agreement to purchase Foundry Networks.