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Stock Market & Financial Investment News

News Breaks
July 17, 2014
13:31 EDTSDLPSeadrill Partners acquires additional 28% interest in Seadrill Operating
Seadrill Partners announced today that it has entered into an agreement with Seadrill Limited pursuant to which it will acquire an additional 28% interest in Seadrill Operating for approximately $373M. After completion of the acquisition, the company will own a 58% interest in Seadrill Operating which is now in line with the ownership level of the company's other ultra-deepwater operating company which is 51% owned. The objective of the transaction is to increase exposure to assets that are well known to the company and that have stable cash flows. The transaction is expected to be cash flow and net asset value accretive and therefore to lead to increased distributions. The acquisition of additional interests is expected to close before the end of July and will be financed by funds from recent common unit offerings and surplus funds from the company's recent term loan B financing. The Board of Directors and the Conflicts Committee of the Board have approved the terms and conditions of the acquisition. The Conflicts Committee retained a financial advisor to assist with its evaluation of the transaction. The acquisition is expected to be accretive and is consistent with the Company's growth and diversification strategy. The Board believes that the long-term fundamental outlook for the offshore drilling industry remains strong, and is positive about the company's future growth prospects.
News For SDLP From The Last 14 Days
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November 19, 2014
10:00 EDTSDLPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Beacon Roofing (BECN) downgraded to Hold from Buy at KeyBanc... BlackBerry (BBRY) downgraded to Underweight from Equal Weight at Morgan Stanley... Consolidated Edison (ED) downgraded to Sell from Neutral at UBS... Denbury Resources (DNR) downgraded to Hold from Buy at Wunderlich... Synchronoss (SNCR) downgraded to Underperform from Neutral at RW Baird... Total System (TSS) downgraded to Sell from Neutral at Goldman... Movado (MOV) downgraded to Market Perform from Outperform at Barrington... Transocean Partners (RIGP) downgraded to Market Perform from Outperform at Wells Fargo... Seadrill Partners (SDLP) downgraded to Market Perform from Outperform at Wells Fargo... Petrobras (PBR) downgraded to Neutral from Buy at UBS.
08:22 EDTSDLPSeadrill Partners downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Seadrill Partners and other Marine MLP names to Market Perform saying outperformance will be challenging amid lower energy prices. Wells lowered its price target range for shares to $24-$27 from $33-$36.
November 14, 2014
09:38 EDTSDLPJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).

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