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January 28, 2014
11:01 EDTBP, EMNEastman Chemical to acquire turbine oil business from BP
Eastman Chemical (EMN) announced that it has entered into a definitive agreement to acquire the assets of BP's (BP) global aviation turbine engine oil business, with annual revenues of approximately $100M. The acquisition includes a production facility in Linden, NJ, specialized laboratory equipment located in Naperville, IL, and a long-term supply agreement for products related to the acquired business that BP will use to serve industrial markets. When added to its Skydrol aviation hydraulic fluids, the acquired fluids product portfolio is expected to enable Eastman to better meet the global aviation industry's needs. Subject to receipt of required regulatory approvals and satisfaction of other customary closing conditions, the acquisition is expected to be completed in the second quarter. Terms of the transaction were not disclosed.
News For EMN;BP From The Last 14 Days
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October 2, 2015
06:28 EDTBPBP in talks over deal with Iran, the Times reports
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October 1, 2015
09:35 EDTBPActive equity options trading on open
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September 28, 2015
10:00 EDTBPOn The Fly: Analyst Initiation Summary
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08:03 EDTBPBP initiated with an Outperform at BMO Capital
06:20 EDTBPBP not concerned over hostile takeover due to Macondo disclaimer, Bloomberg says
BP, which is allegedly readying defenses for potential acquisition offers, isn't concerned about a hostile takeover because of a disclaimer in its Macondo spill settlement that could put $12.6B onto the price tag, Bloomberg reports. A potential buyer may have to accelerate the payment of as much as two-thirds of the $18.7B in penalties BP agreed to pay the U.S. and several states, the report says, citing company filings. An option that provides the government and certain states the power to demand faster payment in a takeover basically hands them a veto over any deal, the report says. Reference Link
September 24, 2015
06:20 EDTBPBP management to meet with Jefferies
Meetings to be held in Chicago/Kansas City/Minneapolis September 29- October 1 hosted by Jefferies.
September 22, 2015
13:13 EDTBPBP initiated with a Neutral at Macquarie
September 21, 2015
14:18 EDTEMNPetrochemical stocks advance after IRS official's comments, WSJ says
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