Check out which companies are making headlines before the bell:
Pinnacle Foods–Hillshire Brands is acquiring Pinnacle in a $6.6 billion cash and stock deal, worth $36.02 per share. That represents an 18 percent premium over Friday's close for Pinnacle shareholders.
AstraZeneca–Pfizer continues to press its case for its takeover bid, issuing a new statement promising that jobs would remain in the U.K. Pfizer also posted a video on its web site saying large transactions such as this one do not disrupt drug research, and CEO Ian Read is preparing to defend his offer before British lawmakers tomorrow.
Allergan– The company's board has rejected a $47 billion takeover bid from Valeant Pharmaceuticals, saying it undervalues the company and is not in the best interests of shareholders. Allergan also declined comment on a report that it's seeking rival bids, and that its efforts have been rebuffed. Bloomberg reported that Allergan contacted Sanofi, Johnson & Johnson, GlaxoSmithKline, and Novartis.