Activity continues to buzz in the private equity world. For example, according to the Wall Street Journal (subscription required), it appears that IMS (NYSE: RX) is in advanced talks to take the company private. As a result, the shares of the company soared 22% in Monday's trading.

No doubt, a deal could fall apart. But, the fact remains that IMS has definitely attracted interest. Some of the suitors include: TPG, Silver Lake, and BC Partners. The deal could be worth as much as $3.5 billion.

IMS got its start in the mid 1950s when the founders -- Bill Frohlich (an advertising executive) and David Dubow -- saw an opportunity to build a unique information company for the pharma industry. The timing was perfect as the company quickly grew.

This post is part of a 12-article feature that can be read here: Today's best income ideas.

"You don't have to be in the upper tax bracket to rake in higher returns from these tax-free bonds," says income expert Carla Pasternak.

In her High Yield Investing, she looks two favorite vehicles: Morgan Stanley Insured Municipal Securities (NYSE: IMS), with a tax-equivalent yield of 7.9% and Western Asset Municipal High Income Fund (NYSE: MHF), with a tax-equivalent yield of 11.1%.