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Stock Market & Financial Investment News

News Breaks
April 16, 2012
16:45 EDTTK, TNKTeekay Tankers to acquire fleet of 13 double-hull tankers from Teekay for $455M
Teekay Tankers (TNK) announced that it has reached an agreement to acquire from Teekay Corporation (TK), a fleet of 13 double-hull conventional oil and product tankers and related time-charter contracts, debt facilities and other assets and rights, for an aggregate purchase price of approximately $455M. As part of the transaction, Teekay Tankers and Teekay will enter into a non-competition agreement, which will provide Teekay Tankers with a right of first refusal to participate in any new conventional crude oil tanker and product tanker developed by Teekay for a period of three years from the closing date of this transaction.
News For TNK;TK From The Last 14 Days
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June 30, 2015
09:29 EDTTKTeekay to sell Petrojarl Knarr to Teekay Offshore for $1.26B
Teekay (TK) announced that it will complete the sale of the Petrojarl Knarr floating production, storage and offloading, or FPSO, unit to Teekay Offshore Partners (TOO) for its fully built-up cost of approximately $1.26B on July 1, subject to customary closing conditions. The FPSO has now completed the required operational testing to commence full charter rate under its long-term contract on the Knarr oil and gas field in the North Sea where BG Norge is the operator. In connection with sale of the Knarr FPSO, Teekay has agreed to invest $300M in Teekay Offshore common units at a price of $20.83 per unit, which is based upon a volume-weighted average price mechanism. The common units will be received in mid-July 2015, subject to customary closing conditions and after the record date for Teekay Offshore's Q2 of 2015 cash distribution.
09:26 EDTTKTeekay increases dividend 75% to 55c
Teekay announced today that its Board of Directors has declared a cash dividend on its common stock of 55c per share for the quarter ended June 30, an increase of approximately 75% over the previous cash dividend of 31.625c per share. The cash dividend is payable on July 31 to all shareholders of record as at July 17.
June 25, 2015
10:00 EDTTNKOn The Fly: Analyst Downgrade Summary
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06:03 EDTTNKTeekay Tankers downgraded to Sell from Neutral at UBS
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