Market Update

Shares of PharMerica Corp (NYSE:

) jumped about 34.8% after Omnicare Inc (NYSE:

) offered to buy PharMerica for $441 million in cash. The offer of $15 per share represents a 37% premium to PharMerica's closing price on Monday. The transaction will be worth around $716 million, including PharMerica's net debt. Shares of Hanwha SolarOne Co Ltd (NASDAQ: HSOL) gained about 1.4% as the company appointed Mr. Tai Seng PNG as its new chief operating officer. China Nepstar Chain Drugstore Ltd (NYSE:

) reported that its board of directors has authorized a share repurchase program of up to US$20 million. The company also announced the resignation of Mr. Jason Xinghua Wu as its Chief Executive Officer, effective today. China Shenhua Energy Co (OTC:

) reported a 26% y/y rise in its commercial coal production in July. China Shenhua Energy's production surged to 23.1 million metric tons, from 18.3 million metric tons, in the year-ago period.