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Stock Market & Financial Investment News

News Breaks
June 18, 2014
06:00 EDTAPD, ROCRockwood CEO to step down June 30, Robert Zatta named acting CEO
Rockwood Holdings (ROC) announced that Seifi Ghasemi will step down as the company’s CEO on June 30, in order to become chairman, president and CEO of Air Products & Chemicals (APD). Ghasemi will remain chairman of the board of Rockwood until January 1, 2015 and continue thereafter as director. As part of the succession plan, the Rockwood board has appointed Robert J. Zatta as Acting CEO effective July 1, in addition to his role as CFO. The company also announced that Thomas J. Riordan, SVP, Law & Administration and Corporate Secretary, has been named EVP and Chief Administrative Officer.
News For ROC;APD From The Last 14 Days
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November 26, 2014
08:20 EDTAPDAckman says Herbalife short thesis reinforced by recent developments
"Recent developments at Herbalife reinforce our short thesis that HLF is an illegal pyramid that will collapse or otherwise be shut down by regulators," Bill Ackman stated in Pershing Square Holdings' quarterly letter to shareholders, which was released last night. "We continue to believe that the expiration of HLF’s $1.15B credit facility in 2016 is a potential catalyst for further stock price declines, as we are skeptical that the company will be able to access the credit markets in order to refinance or replace this facility," Ackman added. In the letter, Ackman also confirmed that the fund is currently doing due diligence on Actavis (ACT) to determine whether it should remain a long-term holder following the company's deal to acquire Allergan (AGN), noting that Pershing had recently met with the CEO of Actavis and were "impressed with him and his business plan for the combined company." Remarking on some of his other notable holdings, Ackman stated that Canadian Pacific’s (CP) transformation has been "nothing short of remarkable," that he believes the acquisition of Tim Hortons (THI) will create significant long-term value for Burger King (BKW) shareholders, and that early returns from Air Products' (APD) transformation are "promising."
November 24, 2014
14:42 EDTAPDAir Products files automatic mixed securities shelf
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November 14, 2014
09:24 EDTROCAlbemarle and Rockwood shareholders approve transaction
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