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Stock Market & Financial Investment News

News Breaks
December 21, 2012
08:13 EDTGGC, PPGGeorgia Gulf says PPG Industries gets favorable IRS ruling on planned deal
Georgia Gulf Corporation (GGC) announced that a favorable private letter ruling has been received by PPG Industries (PPG) from the U.S. Internal Revenue Service with respect to the previously announced separation of PPG’s commodity chemicals business and subsequent merger of a newly formed company owning the commodity chemicals business with a subsidiary of Georgia Gulf Corporation. The receipt of the ruling is a closing condition and an important milestone in moving towards completion of the transaction, Georgia Gulf said. If approved by Georgia Gulf’s shareholders at its special meeting, the merger is expected to close in late January 2013. The terms of the proposed transaction call for PPG to form a new company by separating its commodity chemicals business through a spinoff or split off, and then immediately thereafter merging that business with a Georgia Gulf subsidiary in a Reverse Morris Trust transaction. The proposed merger would result in PPG shareholders receiving approximately 50.5% of the shares of the merged company, with existing Georgia Gulf shareholders owning approximately 49.5% of the newly merged company.
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April 21, 2014
07:35 EDTPPGPPG Industries price target raised to $228 from $215 at Jefferies
Jefferies raised its price target for PPG Industries shares to $228 following the company's Q1 results. The firm believes the risk/reward on shares remains favorable and it keeps a Buy rating on the stock.
April 17, 2014
14:14 EDTPPGPPG Industries continues to evaluate potential acquisitions
PPG Industries held its annual meeting of shareholders in Pittsburgh, where Chairman and CEO Charles E. Bunch spoke about the company’s recent strategic progress and record financial performance. Looking ahead, Bunch said, “Our focus this year remains on growing the company. To help drive growth in each of our businesses and regions, we are continuing to evaluate potential acquisitions; expanding our organic capital spending; emphasizing our new product development pipeline; investing more in PPG’s brands; and continuing to expand our sustainability initiatives across the world.”
09:15 EDTPPGPPG Industries board authorizes $2B share repurchase program
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08:53 EDTPPGPPG Industries increases dividend to 67c from 61c
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08:11 EDTPPGPPG Industries reports Q1 adjusted EPS $1.98, consensus $1.87
Reports Q1 revenue $3.6B, consensus $3.63B.

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