New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 14, 2014
17:18 EDTBKW, APD, CP, GGP, PGPershing Square Capital gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: Burger King (BKW) and Air Products & Chemicals (APD). DECREASED STAKES: Canadian Pacific Railway (CP), General Growth Properties (GGP) and Procter & Gamble (PG). LIQUIDATED STAKES: None.
News For BKW;APD;CP;GGP;PG From The Last 14 Days
Check below for free stories on BKW;APD;CP;GGP;PG the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
August 26, 2014
07:32 EDTBKWTim Hortons, Burger King announce merger agreement
An agreement was reached today to create the world's third largest quick service restaurant company. Tim Hortons (THI) and Burger King Worldwide (BKW) announced a definitive agreement under which the two companies will create a new global powerhouse in the quick service restaurant sector. With approximately $23 billion in system sales, over 18,000 restaurants in 100 countries and two strong, thriving, independent brands, the new company will have an extensive international footprint and significant growth potential. The new global company will be based in Canada, the largest market of the combined company. Under the terms of the transaction, which has been unanimously approved by the Board of Directors of both companies, Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 common shares of the new company per Tim Hortons share. Based on Burger King's unaffected closing stock price as of August 22, 2014, this represents total value per Tim Hortons share of C$89.32 and based on Burger King's closing stock price as of August 25, 2014, this represents total value per Tim Hortons share of C$94.05. As an alternative to the default mixed transaction consideration described above, each Tim Hortons shareholder will have the ability to elect to instead receive, for each Tim Hortons share held, either (i) C$88.50 in cash; or (ii) 3.0879 common shares of the new company, in each case subject to pro ration. The C$89.32 unaffected offer value represents a premium of 39% based on the volume weighted average price of Tim Hortons stock over the past 30 days ending Friday August 22, 2014, and a 30% premium based on Tim Hortons closing stock price on August 22, 2014. By receiving shares in the new parent company, Tim Hortons shareholders will have the opportunity to participate in the new company's long-term value creation potential.
07:32 EDTBKWTim Hortons, Burger King announce merger agreement
Subscribe for More Information
06:52 EDTBKWU.S. will receive more money in taxes after Tim Hortons deal, sources tell CNBC
Subscribe for More Information
06:33 EDTBKWBurger King wants merger despite problems with dining combos, NY Times says
Subscribe for More Information
06:19 EDTBKWBerkshire may lend 25% of financing for Burger King/Tim Hortons deal, WSJ says
Warren Buffett's Berkshire Hathaway (BRK.A) will help finance the acquisition of Tim Hortons (THI) by Burger King (BKW), the Wall Street Journal reports, citing people familiar with the matter. According to sources, Berkshire, which would invest in the deal in the form of preferred shares, could provide around 25% of the deal's financing. The acquisition may be valued at $10B or more. Reference Link
August 25, 2014
16:13 EDTBKWOn The Fly: Closing Wrap
Stocks began the session in positive territory and proceeded to tack on gains throughout the morning. Despite a disappointing report on new home sales in July, the S&P surpassed the 2,000 level for the first time before noon. The market pared its gains shortly after the milestone was reached and drifted for the remainder of the session on light volume, as trading activity may be restrained all week ahead of the Labor Day weekend. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity index jumped to 0.39 in July from an upwardly revised 0.21 in June. Markit's preliminary August services PMI came in at 58.5, which was down from a prior reading of 60.8 but above the 58.0 consensus projection. New home sales dropped 2.4% to a 412K rate in July, missing expectations for them to have risen to a 430K annualized rate. COMPANY NEWS: Shares of InterMune (ITMN) surged $19.05, or 35.41%, to $72.85 after the company agreed to be acquired by Roche (RHHBY) for $74.00 per share in an all-cash transaction. The deal announcement comes less than two weeks after Bloomberg reported that Roche, along with big pharma peers Sanofi (SNY) and GlaxoSmithKline (GSK), had made takeover bids for the smaller drugmaker. A number of other biotech companies gained following the deal announcement, including bigger names like Gilead (GILD) and Celgene (CELG) and smaller ones such as Achillion Pharmaceuticals (ACHN) and Receptos (RCPT)... Burger King (BKW) shares rose $5.29, or 19.51%, to $32.40 after the company confirmed it is in talks regarding a potential strategic transaction with Canadian donut chain Tim Hortons (THI). Shares of Tim Horton's trading in New York also gained $11.88, or 18.91%, to $74.72 following the confirmation of news first reported by The Wall Street Journal. MAJOR MOVERS: Among the other notable gainers was Advaxis (ADXS), which advanced 75c, or 23.08%, to $4.00 after announcing it has entered into a clinical trial collaboration agreement with Merck (MRK). Also rising were shares of Comtech (CMTL), which jumped $1.70, or 4.84%, to $36.81 after Reuters said the company is working with Citigroup to explore a potential sale. Among the noteworthy losers was Chinese internet and software company Qihoo 360 Technology (QIHU), which fell $7.88, or 7.74%, to $93.87 despite reporting second quarter earnings and revenue that beat analysts' estimates. Also lower were shares of GrubHub (GRUB), which fell $3.60, or 8.42%, to $39.16 after filing to sell 10M shares of common stock. INDEXES: The Dow gained 75.65, or 0.44%, to 17,076.87, the Nasdaq rose 18.80, or 0.41%, to 4,557.35, and the S&P 500 advanced 9.54, or 0.48%, to 1,997.94.
14:21 EDTAPDAir Products licenses ICEFLY technology to Advanced Research Systems
Air Products announced it has licensed its proprietary cryogenic machining technology to Advanced Research Systems, a manufacturer of industrial and research cryogenic equipment. The technology license agreement gives ARS extensive rights to Air Products' patented ICEFLY Cryogenic Machining Technology. Included in the agreement is the transfer of ICEFLY cryogen delivery equipment design information and cryogenic machining know-how developed by Air Products.
13:02 EDTBKWBurger King upgraded to Buy from Neutral at BofA/Merrill
12:35 EDTBKWBurger King, Tim Hortons deal likely complete in next day or two, CNBC reports
Subscribe for More Information
12:19 EDTBKWOn The Fly: Midday Wrap
Subscribe for More Information
10:54 EDTBKWHigh option volume stocks
Subscribe for More Information
10:25 EDTBKWBurger King, Tim Hortons climb higher after confirming deal talks
Subscribe for More Information
09:11 EDTBKWOn The Fly: Pre-market Movers
Subscribe for More Information
08:36 EDTBKWTim Hortons business would be boosted by Burger King deal, says KeyBanc
Subscribe for More Information
06:47 EDTBKWTim Hortons volatility expected to move on confirming talks with Burger King
Subscribe for More Information
05:11 EDTBKWTim Hortons, Burger King confirm talks regarding potential strategic transaction
Subscribe for More Information
August 24, 2014
21:53 EDTPGNational Association of Chain Drug Stores to hold an expo
2014 NACDS Total Store Expo to be held in Boston on August 23-25.
20:05 EDTBKWBurger King seeks Tim Hortons acquisition in tax inversion deal, WSJ says
Subscribe for More Information
August 22, 2014
10:52 EDTBKWCarrols Restaurant signs agreements to buy 64 Burger King restaurants
Subscribe for More Information
August 20, 2014
06:26 EDTCPU.S. regulators call meeting with BNSF, Canadian Pacific over delays, WSJ says
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use