Stock Market Champs ..........9-05-06

Click Commerce Inc. (CKCM)

Last Trade:	22.54
Trade Time:	4:00PM ET
Change:	4.59 (25.57%)

Illinois Tool Works Offers to Buy Click Commerce for $292 Million GLENVIEW, Ill. (AP) -- Illinois Tool Works Inc. said Tuesday it has agreed to acquire Click Commerce Inc., a maker of supply chain management software, for $292 million.

Illinois Tool Works, which makes automotive parts, construction supplies and food-service equipment, offered to buy the outstanding shares of Click Commerce for $22.75 each, representing a 27 percent premium over Friday's closing price.

Click Commerce makes software for demand chain management, real time RFID-enabled supply chain management and other functions. The company, based in Chicago, reported revenue of $74 million in the past 12 months.

Under the agreement, Illinois Tool Works said it has 10 business days starting Tuesday to commence a tender offer for the shares. The offer will be open for at least 20 business days during the initial tender period.

The boards of directors of both sides have approved the transaction, which is expected to close in the fourth quarter.

Shares of Click Commerce rose $4.59, or 26 percent, to close at $22.54 on the Nasdaq Stock Market, while Illinois Tool Works fell 4 cents to finish at $44.13 on the New York Stock Exchange.

David Speer, Illinois Tool Works' chairman and CEO, said Click Commerce is well-positioned to continue to expand its value-added software solutions and market presence across a wide range of industries, including several where ITW has a strong presence.

"The company's growth through a combination of internal product development initiatives and complimentary acquisitions is very similar to ITW's approach and affords us exciting future growth opportunities in this software solution space," he said.

Click Commerce had revenues of $59 million last year, compared with $12.9 billion for Illinois Tool Works.

Devon Energy Corp. (DVN)

Last Trade:	72.14
Trade Time:	4:01PM ET
Change:	7.99 (12.46%)

Devon Energy Corp.'s stake in a potentially huge new Gulf of Mexico oilfield could make the oil and gas producer a top takeover candidate for the energy giants who are struggling to develop new fields.

Devon, Chevron and Statoil announced earlier on Tuesday that they had successfully drilled a widely watched exploration well in the lower-tertiary region -- a bed of ancient rock deep underwater.

The companies would not estimate how much in reserves the discovery could hold, but Chevron estimates the entire lower-tertiary region could hold 3 billion to 15 billion barrels of oil and gas that can be extracted.

Devon's holdings in the lower-tertiary region extend well beyond the site where the successful test occurred. It is the second-largest property owner in the region and the largest property owner among the independent oil and gas producers.

The positive test result is "very significant to Devon given their inventory of 19 prospects that they have lined up. Devon has had this strategy of lower tertiary trend development and it's paying off now," said Simmons & Co. analyst Thomas Gardner.

Gardner said that oil companies can buy reserves on Wall Street more cheaply than they can develop their own oil fields or pick up individual assets. He said that the Gulf assets would make Devon's already attractive valuation even more tempting.

Shares of Devon surged $7.99, or 12.5 percent, to close at $72.14 on the New York Stock Exchange on Tuesday.