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Stock Market & Financial Investment News

News Breaks
January 24, 2013
17:45 EDTMICMacquarie Infrastructure Management to be paid performance fee of $43.8M
Macquarie Infrastructure announced that its management company, Macquarie Infrastructure Management, or MIMUSA, will be paid a performance fee of $43.8M for the Q4 of 2012. Under the publicly filed Management Services Agreement between MIC and MIMUSA, the management company is entitled to a performance fee equal to 20% of the value of MIC's total return in excess of the MSCI US Utility Index benchmark provided that the total return is positive and in excess of any prior underperformance.
News For MIC From The Last 14 Days
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February 25, 2015
19:38 EDTMICMacquarie Infrastructure 5.31M share Secondary priced at $80.00
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February 24, 2015
16:32 EDTMICMacquarie Infrastructure announces 4.375M share offering
Macquarie Infrastructure Company announced a public offering of 4,375,000 LLC interests, or shares, by the company. MIC expects to use the net proceeds from the offering to finance the cash consideration for the acquisition of the assets of Bayonne Energy Center and for general corporate purposes. The company expects the transaction to close in the first half of 2015, subject to regulatory approval and satisfaction of customary conditions precedent. Barclays, Macquarie Capital, J.P. Morgan, RBC Capital Markets and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering.
February 18, 2015
17:01 EDTMICMacquarie Infrastructure files forms to convert from LLC to corporation
Concurrent with the release of its financial results, MIC filed a registration statement on Form S-4 with the Securities and Exchange Commission indicating its intent to seek shareholder approval to convert the Company from a limited liability company to a corporation. MIC had previously converted from a listed trust to an LLC in 2007 and has elected to be treated as a corporation for tax purposes since that time. “The conversion from an LLC to a corporation will open MIC up to possible inclusion in certain equity indices,” said Hooke. “While we will continue to explore other tax efficient structures for MIC and our assets, we believe the best first step is the conversion to a corporation.” "MIC does not believe the conversion will have any significant impact on existing holders of LLC interests and the company will continue to report dividends on Form 1099. The conversion to a regular corporation is subject to, among other things, the approval of the holders of a majority of MIC’s shares outstanding. A meeting date and time will be set by the MIC board of directors after the registration statement is declared effective by the SEC."
16:59 EDTMICMacquarie Infrastructure raises quarterly cash dividend to $1.02 per share
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16:58 EDTMICMacquarie Infrastructure reports Q4 revenue $405M, consensus $412.04M

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