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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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August 29, 2014
15:13 EDTBXQuirky drops out of bidding to buy appliance unit from GE, Bloomberg says
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August 28, 2014
15:30 EDTBXBlackstone planning NYC tower sale for over $2B, Bloomberg says
Blackstone (BX) has hired Eastdil Secured to market 1095 Avenue of the Americas, which will soon be the headquarters of Verizon (VZ), and the NYC building may sell for about $2.25B, according to Bloomberg, citing people familiar with the matter. Reference Link
15:25 EDTBXBlackstone planning NYC tower sale for over $2B, Bloomberg says
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09:04 EDTHSHTyson Foods sees completing Hillshire merger later today
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August 27, 2014
16:53 EDTHSHTyson, Hillshire announce expiration of the HSR waiting period
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14:39 EDTHSHTyson, Hillshire Brands reach agreement with Department of Justice
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14:25 EDTHSHDOJ requires Tyson to divest sow purchasing business in merger settlement
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14:19 EDTHSHHillshire rebounds, back to flat after report of merger deal with DOJ
Shares of Tyson Foods (TSN), which had dropped briefly, are also back to being nearly unchanged.
14:17 EDTHSHTyson Foods, Hillshire enter settlement with U.S. over merger, Bloomberg says
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14:14 EDTHSHHillshire Brands drops 3% to $61.05
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August 26, 2014
13:03 EDTHSHTyson Foods, Hillshire Brands announce extension of tender offer
Tyson Foods (TSN) and The Hillshire Brands Company (HSH) announced that Tyson has extended the offering period of its previously announced tender offer to purchase all of the outstanding shares of common stock of Hillshire Brands for $63.00 per share in cash, without interest, subject to any withholding of taxes required by applicable law and upon the terms and subject to the conditions set forth in the Offer to Purchase dated July 16. Pursuant to the Agreement and Plan of Merger, dated July 1, by and among Tyson, HMB Holdings and Hillshire Brands, the Offer, which was previously scheduled to expire at 12:00 midnight, New York City time, at the end of Tuesday, August 26, has been extended until 12:00 midnight, New York City time, on Wednesday, August 27, unless it is extended further under the circumstances set forth in the Merger Agreement. All terms and conditions of the Offer shall remain unchanged during the extended period.
August 22, 2014
06:54 EDTBXBlackstone using loophole in European loan rules, Reuters says
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06:42 EDTBXBlackstone in discussions to back China-based fund, Bloomberg says
Blackstone (BX) is in discussions to possibly back Hong Kong-based distressed fund, Arkkan Capital Management, which was founded by the former global leader of Goldman Sachs' (GS) special situations division Jason Brown, according to Bloomberg, citing two people with knowledge of the matter. Reference Link

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