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Stock Market & Financial Investment News

News Breaks
May 12, 2014
08:36 EDTHSH, PF, BXHillshire Brands sees Pinnacle Foods deal closing in September
Says Blackstone (BX) has agreed to vote its shares in favor of the transaction. The company will retain the Hillshire Brands (HSH) name. Sees deal immediately accretive to EPS, 15%+ accretive in year 3. Sees $140M in cost synergies by end of year 3, primarily derived from supply chain enhancements and consolidation of overhead expenses. Sees approximately $180M in estimated costs to achieve synergies. Says integration teams from both organizations "ready to go," will implement plans to achieve synergies and facilitate a smooth integration after closing. Says focused on de-levering to return to investment grade. Says overall top priority to support continued organic growth. Comments from slides that will be presented on the conference call discussing the acquisition of Pinnacle Foods (PF).
News For HSH;PF;BX From The Last 14 Days
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July 24, 2014
10:37 EDTHSHOptions with increasing implied volatility: TLM IP HSH
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08:30 EDTBXCarlyle may be last firm in rigging suit as peers near settlement, NY Post says
Carlyle Group (CG) may soon be the only private equity firm left to settle a suit that accused it and several of its peers of conspiring to hold down deal prices and one source close to the situation said “my expectation is there will be a trial,” according to The New York Post. Bain Capital, Silver Lake and Goldman Sachs (GS) previously settled for a combined $150.5M and KKR (KKR), Blackstone (BX) and TPG Capital are expected to settle for an amount above that "within days," the report said. Reference Link
July 23, 2014
08:01 EDTBXBlackstone acquires majority stake in Service King Collision Repair Centers
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07:45 EDTBXSEC to approve money fund rules with exemptions for discount brokers, WSJ says
New money-market mutual fund rules that are expected to be approved at a Securities and Exchange Commission meeting on Wednesday will exempt discount brokers like Charles Schwab (SCHW) from some provisions, reported The Wall Street Journal. Under the SEC's planned rules, "prime" money funds that are held by corporations and institutional investors will have to abandon a fixed $1-a-share price and float in value like other mutual funds, according to the report, citing people familiar with the matter. Analysts said Schwab and other large money-fund sponsors, Vanguard and Fidelity, would do well under the plan, according to the report. Blackstone (BX) also offers money-market mutual funds. Reference Link
July 22, 2014
15:49 EDTBXBlackstone to buy majority stake in Service King from Carlyle, WSJ says
Blackstone's (BX) purchase from Carlyle Group (CG) of the majority stake in the repair chain values the company at about $650M, according to The Wall Street Journal, citing a source. Reference Link
14:25 EDTBXBlackstone to buy majority stake in Service King from Carlyle, Dow says
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July 18, 2014
07:14 EDTBXBlackstone, KKR, TPG discussing deal collusion suit settlement, Reuters says
Blackstone (BX), KKR (KKR) and TPG Capital are in discussions to settle a U.S. case accusing the firms of conspiring not to outbid one another and other buyout companies on takeovers of firms, according to Reuters, citing two people familiar with the matter. If all three companies settled, the Carlyle Group (CG) would be the only private equity company still up against a trial among 11 firms originally accused of colluding in agreements before the financial crisis occurred. Reference Link
July 17, 2014
07:27 EDTBXBlackstone buys CatalunyaCaixa loan portfolio
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07:13 EDTBXBlackstone reports total assets under management of $279B
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07:11 EDTBXBlackstone reports Q2 EPS $1.15, consensus 71c
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07:11 EDTBXBlackstone buys Catalunya Banc mortgage portfolio for $5B, Reuters says
Blackstone has purchased a large mortgage portfolio from Spain's Catalunya Banc for $5B in an agreement backed by fresh state funds as the government aims to sell the firm, reported Reuters. Reference Link
July 16, 2014
17:23 EDTHSHTyson Foods commences tender offer for Hillshire Brands for $63 per share cash
Tyson Foods (TSN) announced that it has commenced a cash tender offer for all outstanding shares of common stock of Hillshire Brands (HSH) at a price of $63.00 per share. The tender offer is being made pursuant to the previously announced merger agreement dated July 1, among the two companies and HMB Holdings, a wholly owned subsidiary of Tyson Foods. The tender offer period will expire at 12:00 midnight at the end of the day on August 12, unless the offer is extended. Tyson Foods has filed a tender offer statement on Schedule TO with the United States SEC. HMB Holdings is the acquirer in the tender offer. The Offer to Purchase contained within the Schedule TO sets out the terms and conditions of the tender offer. Hillshire Brands has also filed a Solicitation/Recommendation Statement with the SEC, which includes the recommendation of the Hillshire board of directors that Hillshire Brands stockholders tender their shares in the tender offer. Following successful completion of the tender offer, any shares not acquired in the tender offer will be acquired in a second-step merger at the same $63 per share cash price.
07:10 EDTBXBlackstone, Oaktree strive for Catalunya mortgage portfolio, Reuters says
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July 15, 2014
10:48 EDTHSHOptions with increasing implied volatility: GLUU KORS RVBD HSH
10:00 EDTPFOn The Fly: Analyst Initiation Summary
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05:51 EDTPFPinnacle Foods reinstated with a Neutral at Goldman
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July 11, 2014
06:50 EDTBXFriends Life disposes Lombard division to Blackstone, Reuters says
Friends Life announced that it sold its Lombard division to Blackstone for an initial consideration of $532M and said it will use a portion of the proceeds to buy-back shares, according to Reuters, citing a statement from Friends Life CEO Andy Briggs. The agreement is anticipated to be finalized in 2H14. Reference Link

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