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Stock Market & Financial Investment News

News Breaks
May 30, 2014
09:30 EDTSTNGScorpio Tankers announces agreement to acquire 7.5M shares
Scorpio Tankers announced that it has entered into an agreement whereby the company will purchase from an existing shareholder 7.5M common shares of the company in exchange for the sale to said shareholder of 3.42M common shares the company currently owns in Dorian LPG in a privately negotiated transaction. As a result of the disposal of the 3.42M Dorian shares, the Company will recognize a gain of approximately $11M and its ownership in Dorian will be reduced to 9.4M shares. This transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions and is expected to close in June. In addition to the transaction announced today, the company has repurchased 2.76M of its common shares at an average price of $8.89 per share before commissions. As of today, the company has $75.3M remaining on its $100M stock buyback authorization, which was announced on April 28. The Company also announced that it has recently taken delivery of four product tankers under its Newbuilding Program.
News For STNG From The Last 14 Days
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July 29, 2015
08:07 EDTSTNGScorpio Tankers up 1.2% after reporting Q2 results
08:05 EDTSTNGScorpio Tankers reports Q2 adjusted EPS 32c, consensus 27c
Reports Q2 revenue $188.46M, consensus $172.44M.
July 27, 2015
16:23 EDTSTNGScorpio Tankers agrees to acquire MR product tanker for $37.1M
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July 23, 2015
09:12 EDTSTNGScorpio Tankers agrees to sell 3.39M shares of Dorian LPG for $16.16 per share
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July 21, 2015
10:01 EDTSTNGOn The Fly: Analyst Initiation Summary
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06:57 EDTSTNGScorpio Tankers initiated with a Buy at BofA/Merrill
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July 20, 2015
10:00 EDTSTNGOn The Fly: Analyst Upgrade Summary
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06:22 EDTSTNGScorpio Tankers upgraded to Overweight from Neutral at JPMorgan
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05:19 EDTSTNGScorpio Tankers agrees to sell shares of Dorian LPG for $15.34 per share
Scorpio Tankers (STNG) announced that it has agreed to sell 6M common shares of Dorian LPG (LPG) owned by the company to BW Euroholdings, a wholly owned subsidiary of BW Group, for a purchase price of $15.34 per share. The shares will be sold pursuant to an effective resale registration statement filed by Dorian LPG on July 8, and are expected to be delivered to BW Euroholdings Limited on or around July 22. Following the sale, the company will continue to own 3.39M shares of Dorian's common stock, which is approximately 5.8% of Dorian.
05:18 EDTSTNGScorpio Tankers agrees to sell shares of Dorian LPG for $15.34 per share
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