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Stock Market & Financial Investment News

News Breaks
June 9, 2014
07:37 EDTAPO, HKHalcon Resources signs agreement with affiliates of Apollo Global
Halcón (HK) announced the signing of a definitive agreement with credit funds and accounts managed by affiliates of Apollo Global Management, LLC (APO), which will invest up to $400M in the company's wholly owned subsidiary, HK TMS. Upon closing, HK TMS will hold all of Halcón's acreage in Mississippi and Louisiana that is prospective for the TMS formation. The Company holds 100% of the common shares of HK TMS and is the sole manager of HK TMS. Apollo will contribute $150M in cash consideration for 150,000 of HK TMS preferred shares, and under certain circumstances, may acquire up to an additional 250,000 preferred shares of HK TMS on the same terms. Holders of the HK TMS preferred shares will receive quarterly cash dividends of 8% per annum. In conjunction with the issuance of the preferred shares, HK TMS agreed to assign a 4.0% overriding royalty interest, subject to reduction to 2.0% under certain circumstances, in 75 net wells to be drilled and completed on its TMS acreage. The number of wells subject to the ORRI will increase to the extent that Apollo subscribes for additional preferred shares, with a maximum of 200 net wells subject to such ORRI if Apollo subscribes for the full additional 250,000 preferred shares.
News For HK;APO From The Last 14 Days
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December 17, 2014
09:40 EDTAPO21st Century Fox, Apollo Global complete joint venture transaction
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06:20 EDTAPOLeighton, certain Apollo funds to form 50:50 services investment partnership
Leighton Holdings announced it had entered a binding agreement with funds managed by affiliates of Apollo Global Management, LLC to form a 50:50 investment partnership comprising the merged operations and maintenance services businesses of: Thiess Services which includes: Communications, Energy Solutions, Asset and Infrastructure Services, and Environmental Services; and Leighton Contractors Services which includes: Visionstream and Infrastructure Services. The details of the transaction are: A price which represents an enterprise value for 100% of the assets of A$1.075B, subject to certain adjustments; Approximately A$700M in cash proceeds which will reduce Leighton Holdings’ gearing by around 10 percentage points. The partnership is subject to customary regulatory approvals including Foreign Investment Review Board and New Zealand Overseas Investment Office approval.
December 16, 2014
09:59 EDTAPOOn The Fly: Analyst Upgrade Summary
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09:20 EDTHKHalcon Resources downgraded to Sector Perform from Outperform at Howard Weil
06:18 EDTAPOApollo Global upgraded to Buy from Neutral at Citigroup
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December 15, 2014
10:00 EDTAPOOn The Fly: Analyst Initiation Summary
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08:22 EDTAPOApollo Global initiated with an Underweight at Morgan Stanley
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December 14, 2014
15:23 EDTAPOApollo close to $8B leveraged buyout of PetSmart, Bloomberg says
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December 12, 2014
08:09 EDTAPOBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 9, 2014
16:19 EDTHKHalcon Resources commissions first CNG facility through its subsidiary
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December 8, 2014
11:58 EDTAPOApollo Global to host investor day
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10:30 EDTHKHalcon Resources downgraded to Market Perform at BMO Capital (pre-open)
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