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News Breaks
February 11, 2014
09:02 EDTCEC, SLCA, APOU.S. Silica to replace CEC Entertainment in the S&P SmallCap 600
S. Silica Holdings (SLCA) will replace CEC Entertainment (CEC) in the S&P SmallCap 600 after the close of trading on Friday, February 14. An affiliate of Apollo Global Management (APO) is acquiring CEC Entertainment in a deal expected to be completed soon pending final conditions. U.S. Silica Holdings mines, processes, and sells commercial silica. Headquartered in Frederick, MD, the company will be added to the S&P SmallCap 600 GICS Diversified Metals & Mining Sub-Industry index.
News For SLCA;CEC;APO From The Last 14 Days
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November 30, 2015
09:59 EDTAPOTribune Publishing disputes Murdoch tweet, says not in talks to sell
Shares of multi-platform media and marketing solutions company Tribune Publishing (TPUB) are surging in morning trading after Rupert Murdoch said that the company would likely be sold, However, Tribune has come out in response to state that it is not in discussions to sell the company. WHAT'S NEW: On Friday, Rupert Murdoch, the chairman and chief executive officer of News Corp (NWSA, NWS), said in a tweet that there was "strong word" that Tribune would be sold and that the LA Times would be spun off to a local group involving philanthropist Eli Broad. In an e-mailed message to employees on Monday, Tribune said it wanted to address the rumor regarding a potential purchase of the company, and said that "While our policy is not to comment on rumors, given the source of this speculation and the fact that it has received considerable public attention, the company believes a statement to employees is warranted." Tribune reaffirmed that it is committed to its strategy and transformation plan and that it is not engaged in talks or a process to sell the company. WHAT'S NOTABLE: Newsonomics' Ken Doctor reported that private equity firm Apollo Global Management (APO) approached Tribune "about a month ago," telling Tribune's Chairman Eddy Hartenstein about its interest in buying the company. Doctor notes that Tribune was "non-responsive" to requests for talks, and was "unwilling to schedule meetings or provide deeper-than-public financials." Doctor believes that, given Tribune's market capitalization and debt, a purchase price could be in the $650M-$750M range. Tribune has reportedly engaged a small group of newspaper veterans to "plot its next strategy, should an acquisition be finalized." PRICE ACTION: Tribune Publishing is up 9.2% to $10.14 in morning trading. OTHERS TO WATCH: Shares of other newspaper publishers, including McClatchy (MNI) and Gannett (GCI), are also higher this morning.
08:41 EDTAPOApollo approached Tribune over takeover about a month ago, Newsonomics says
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November 22, 2015
19:03 EDTAPOCVC, Canadian Pension to acquire Petco for $4.7B, Bloomberg says
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