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Stock Market & Financial Investment News

News Breaks
December 27, 2012
13:36 EDTPPG, GGCPPG begins exchange offer for split-off of commodity chemicals business
PPG Industries (PPG) announced that it has commenced its exchange offer related to the split-off transaction of its commodity chemicals business. The split-off transaction is in connection with the previously announced separation and merger of Eagle Spinco, a wholly-owned subsidiary of PPG that will own substantially all of the assets and liabilities of PPG’s commodity chemicals business, with a subsidiary of Georgia Gulf Corporation (GGC). PPG shareholders have the option to exchange all, some or none of their shares of PPG common stock for shares of Eagle Spinco common stock, subject to proration. Shares of Eagle Spinco common stock will convert automatically into the right to receive shares of Georgia Gulf common stock at the closing of the merger of a Georgia Gulf subsidiary with and into Eagle Spinco, which is expected to occur promptly after completion of the exchange offer. Tendering PPG shareholders are expected to receive approximately $1.11 of Georgia Gulf common stock for every $1.00 of PPG common stock tendered, subject to an upper limit. PPG will determine the prices at which shares of PPG common stock and shares of Eagle Spinco common stock, and ultimately Georgia Gulf common stock, will be exchanged by reference to the simple arithmetic average of the daily volume-weighted average prices of PPG common stock and Georgia Gulf common stock, respectively, on the New York Stock Exchange on each of the last three trading days of the exchange offer. PPG currently expects to issue approximately 35,236,010 shares of Eagle Spinco common stock in the exchange offer. The exact number of shares of Eagle Spinco common stock to be issued will be equal to the greater of 35,200,000 or 1.02020202 times the number of shares of Georgia Gulf common stock outstanding immediately prior to the merger. The exchange offer and withdrawal rights are scheduled to expire at 8:00 a.m., New York City time, on January 28, 2013, unless the exchange offer is extended or terminated.
News For PPG;GGC From The Last 14 Days
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October 22, 2014
11:21 EDTPPGPPG Aerospace supplying production, spare windows for Embraer KC-390
PPG Industries’ (PPG) aerospace transparencies group is designing windshields for the KC-390 military transport aircraft. PPG is under contract with Embraer (ERJ) Defense and Security to design and manufacture production and spare windshields, side cockpit windows and fuselage windows for the KC-390 aircraft. Embraer expects the aircraft to enter service in 2016.
07:00 EDTPPGPPG Industries management to meet with Deutsche Bank
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October 21, 2014
07:45 EDTPPGPPG Industries management to meet with Deutsche Bank
Meeting to be held in Frankfurt on October 21 hosted by Deutsche Bank.
October 20, 2014
11:24 EDTPPGPPG acquires Westmoreland Supply, terms not disclosed
PPG Industries announced that its North American architectural coatings business has reached a definitive agreement to acquire Westmoreland Supply. The transaction is expected to close in Q4, subject to customary closing conditions. Financial terms were not disclosed. The acquisition of Westmoreland Supply will expand PPG’s North American company-owned stores footprint. Following completion of the acquisition, the locations will operate as part of PPG’s network of more than 900 company-owned stores in North America, and will be rebranded under the company’s new PPG Paints store brand.
07:11 EDTPPGPPG Industries upgraded to Buy from Neutral at SunTrust
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05:41 EDTPPGPPG Industries expands sealants capabilities at ASC in Germany
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October 16, 2014
14:59 EDTPPGPPG Industries says anticipating normal seasonal trends for Q4
Says Q4 is typically the company's slowest. Says recent drop in oil prices not an immediate benefit. Says seeing modest raw material increases. Says not envisioning any re-pricing of pending Comex acquisition due to recent stock market drop. Says will continue share buybacks in Q4 at a "higher level." Says expects to raise buybacks if deals less than expected. Says deadline for Mexico Comex decision is mid-December. Comments from company's Q3 earnings conference call.
08:13 EDTPPGPPG Industries still sees closing Comex deal in Q4
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08:12 EDTPPGPPG Industries reports Q3 adjusted EPS $2.82, consensus $2.75
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October 15, 2014
15:28 EDTPPGNotable companies reporting before tomorrow's open
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October 13, 2014
09:08 EDTPPGMexico's FECC says extending review timeline for PPG's Comex acquisition
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October 9, 2014
10:00 EDTPPGOn The Fly: Analyst Initiation Summary
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