New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 20, 2014
10:01 EDTGE, CAMCameron sells Compression unit, exploring sale of Centrifugal business
Cameron announced that it has entered into a definitive agreement under which it will sell its Reciprocating Compression business to GE (GE) for cash consideration of approximately $550M, subject to closing adjustments. Cameron also announced that it intends to explore strategic alternatives for its Centrifugal Compression business to further enhance the company's focus on its core businesses. The company intends to use the net cash realized from the divestiture of the Reciprocating Compression business to partially fund its existing share repurchase program. Cameron expects to complete the sale of its Reciprocating Compression business during Q3. As a result of this transaction, the company expects to recognize an after-tax loss of approximately $100M for financial reporting purposes, reflecting the write-off of non-deductible goodwill. Cameron estimates after tax proceeds from the sale of approximately $400M. Citi is acting as financial advisor to Cameron and Winston & Strawn and Baker Botts are acting as the company's legal counsel in connection with the divestiture of the Reciprocating Compression business. Citi is also assisting Cameron in the process of exploring strategic alternatives for its Centrifugal Compression business.
News For CAM;GE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 4, 2015
07:23 EDTGEGE CEO Immelt not leaving the company, TheStreet reports
Subscribe for More Information
March 3, 2015
11:03 EDTGEAnalyst says GE's Immelt may leave in industrial CEO exodus, Bloomberg says
Subscribe for More Information
10:52 EDTGEGeneral Electric March weekly volatility elevated, shares near three-month high
General Electric March weekly call option implied volatility is at 19, March is at 15, April and May is at 14, ; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement.
February 25, 2015
05:22 EDTGEGE Healthcare selected as strategic partner by Kenyan Ministry of Health
Subscribe for More Information
February 24, 2015
18:02 EDTGEGeneral Electric director purchases $20M of company stock
According to regulatory filings, GE director William G. Beattie purchased 800,000 shares of GE for $20,096,000 on February 18 and 19.
February 23, 2015
12:07 EDTGEEU opens probe in GE's proposed acquisition of Alstom's energy business
The European Commission has opened an in-depth investigation to assess whether General Electric's (GE) proposed acquisition of the Thermal Power, Renewable Power & Grid businesses of Alstom (ALSMY) is in line with the EU Merger Regulation. The Commissionís preliminary investigation indicates potential competition concerns in the market for heavy-duty gas turbines which are mainly used in gas-fired power plants. The transaction would bring together the activities of GE, the world's largest manufacturer of heavy-duty gas turbines, with those of Alstom, eliminating one of the three main global competitors to GE in this market. The opening of an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days, until 8 July, to take a final decision. Reference Link
February 20, 2015
08:26 EDTGEArc Logistics to acquire all membership interests Joliet Bulk for $216M
Subscribe for More Information
February 18, 2015
11:14 EDTGEGE, Alstom deal likely to face intense EU scrutiny, Reuters says
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
07:07 EDTGEBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
06:55 EDTCAMCameron initiated with an Outperform at BMO Capital
Subscribe for More Information

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