Coke acqusition

Coca-Cola said on Wednesday it has offered to buy Huiyuan Juice Group, China's largest fruit juice company, for the equivalent of $2.4 billion in cash, in what would be the second-largest acquisition in the US-based company's history.
Coke said the offer needed to be approved by the Chinese government.
If successful, the acquisition of Huiyuan would represent the largest purchase of a controlling stake in a Chinese company by a foreign company, according to Thomsom Reuters.
Coca-Cola is offering HK$12.20 ($1.56) per share and an equivalent price for outstanding convertible bonds and options. It said it has accepted irrevocable undertakings from three major shareholders for acceptance of the offers, in aggregate representing approximately 66 percent of the Huiyuan shares.
"Huiyuan is a long-established and successful juice brand in China and is highly complementary to the Coca-Cola China business, " said Muhtar Kent, president of Coca-Cola.
Tracking the Dow on Wednesday,03/09/08.
QUADRAPLE WITHCHING DAY:19/09/08.

9:30am:--Graveyard Doji open.
Shares of Corning (GLW 18.01, -1.49) are plummeting after the company issued a third quarter earnings warning due to lower-than-expected LCD glass shipments. Likewise, ConAgra (CAG 19.82, -1.64) issued downside earnings guidance for its next quarter due to underperformance in its consumer foods business.
10:30am:--Drangonfly Doji
Factory orders remain surprisingly strong, with the fifth straight month of positive growth.
11:30am:--Bears command.
Standard & Poor's downgraded the credit ratings of regional banks First Horizon (FHN 11.05, -0.64) and National City (NCC 4.93, -0.13).
12:30am:--Technical recound to MAV
Crude prices (-1.4% at $108.23) have declined for the fourth straight day, marking a 36% retreat from the July 11 all-time high.Commodity related stocks are once again under pressure.
1:30pm:--Multiple spinning dojis with drgonfly.
The Fed sees moderate wage pressure as hiring slows and that almost all districts are seeing price pressures. Fed also says mortgage loan demand is weakening and economic activity has been slow.
2:30pm:--Morning Stars.
Stocks trade in a volatile manner as market participants digest the Fed's Beige Book. The report said economic activity has been slow in most of the 12 Federal Reserve districts.
3:30pm:--Bulls spike.
Shares of General Motors (GM 11.36, +0.71) rose 6.7% after the automaker posted a smaller-than-expected decline in August sales.
In other corporate news, Coca-Cola (KO 51.67, -0.29) is buying a Chinese juice company in a deal valued at roughly $2.4 billion.
4:00pm:--Evening Stars.
Profit taking to follow.

Wednesday's candlestick has found its low at last week same day level.The long lower shadow is bound to be covered and filled-up again.It's going to be another volatile session.