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Stock Market & Financial Investment News

News Breaks
January 1, 2013
14:36 EDTTXTTextron:4.5% convertible senior notes due '13 convertible at holders discretion
Textron announced today that its 4.5% Convertible Senior Notes due 2013 will be convertible at the option of the holders through March 31, 2013. The Notes will be convertible because Textron’s common stock price exceeded the conversion threshold price of $17.06 per share (130 percent of the applicable conversion price of $13.125 per share) for at least 20 trading days during the 30 consecutive trading days ending December 31. As a result, during the first calendar quarter, holders of the Notes may elect to convert some or all of their Notes. Pursuant to the terms of the Indenture, the Notes will remain convertible through April 29, 2013, the second trading day preceding their May 1, 2013 maturity date. The Company may deliver shares of common stock, cash or a combination of cash and shares of common stock in satisfaction of its obligations upon conversion of the Notes.
News For TXT From The Last 14 Days
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January 13, 2015
14:23 EDTTXTTextron specialized vehicles acquires Douglas Equipment
The Textron Specialized Vehicles group of Textron (TXT), through Textron Ground Support Equipment UK Limited, has acquired the Douglas Equipment business from Curtiss-Wright Flow Control Limited, a subsidiary of Curtiss-Wright Corporation (CW). Douglas Equipment is a manufacturer of ground support equipment in the aviation industry, based in Cheltenham, England, UK. Going forward, Douglas Equipment will operate as part of Textron Specialized Vehicles’ companies’ GSE business, which also includes TUG Technologies Corp., a leading manufacturer of ground support equipment based in Kennesaw, Ga. Douglas Equipment is a strong fit for the Textron Specialized Vehicles group, as Douglas’ specialization in towbarless and conventional aircraft tractors and runway friction measurement systems complements TUG Technologies’ leadership in baggage and tow tractors, pushbacks, belt loaders, ground power units, air-starts, and mobile HVAC units. Douglas will continue to operate from its UK facilities in Cheltenham and Poyle, United Kingdom with its workforce of more than 90 employees intact. The Douglas brand will join the Textron Specialized Vehicles companies’ stable of brands alongside TUG, E-Z-GO, Cushman, and Bad Boy Buggies.
14:02 EDTTXTCurtiss-Wright sells assets of Douglas Equipment unit to Textron
Curtiss-Wright (CW) announced that it has sold the assets of its Douglas Equipment business, which is a supplier of commercial aviation ground support vehicles, to a subsidiary of Textron (TXT). "This transaction aligns with our stated objective to divest non-core operations as part of our previously outlined operating margin improvement initiatives. Furthermore, it enables us to focus on our core commercial aerospace businesses, while also providing a better strategic fit for Douglas' product portfolio. Overall, this supports our long-term goals of significant free cash flow generation and operating margin expansion," said David Adams, Chairman and CEO of Curtiss-Wright.

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