Takeout Rumor Sends Penn Virginia Soaring

Health insurers aren’t the only names rising today on takeover chatter. Penn Virginia (PVA) jumped as much as 20% at one point today, before the shares were halted, amid reports that BP (BP) has offered to buy the U.S. oil and gas producer for $8 per share. Trading resumed at 2:37 p.m. At the closing [...]