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Stock Market & Financial Investment News

News Breaks
January 31, 2013
08:11 EDTVIASViasystems reports Q4 estimated revenue $273.6M, consensus $297.10M
News For VIAS From The Last 14 Days
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September 23, 2014
10:02 EDTVIASOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Analog Devices (ADI) downgraded to Neutral from Overweight at JPMorgan... Bed Bath & Beyond (BBBY) downgraded to Market Perform at William Blair... Cameco (CCJ) downgraded to Neutral from Buy at BofA/Merrill... Clorox (CLX) downgraded to Neutral from Buy at Citigroup... Concur (CNQR) downgraded to Neutral from Buy at Roth Capital... Del Frisco's (DFRG) downgraded at Sterne Agee... Dick's Sporting (DKS) downgraded to Market Perform from Outperform at William Blair... Dresser-Rand (DRC) downgraded to Hold from Buy at KeyBanc... Equinix (EQIX) downgraded to Market Perform from Outperform at Wells Fargo... Fluor (FLR) downgraded at Wells Fargo... Gordmans Stores (GMAN) downgraded at Canaccord... Jacobs Engineering (JEC) downgraded to Market Perform from Outperform at Wells Fargo... Nanometrics (NANO) downgraded to Hold from Buy at Canaccord... ON Semiconductor (ONNN) downgraded to Neutral from Overweight at JPMorgan... Siemens (SIEGY) downgraded to Equal Weight from Overweight at Barclays... Sigma-Aldrich (SIAL) downgraded to Hold from Buy at KeyBanc... Taminco (TAM) downgraded to Hold from Buy at Jefferies... Viasystems (VIAS) downgraded to Hold from Buy at Canaccord... Watsco (WSO) downgraded to Accumulate from Buy at Global Hunter.
08:03 EDTVIASViasystems downgraded to Hold from Buy at Canaccord
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07:23 EDTVIASTTM Technologies proposed acquisition positive, says Stifel
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September 22, 2014
18:30 EDTVIASViasystems downgraded to Hold from Buy at Canaccord
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09:15 EDTVIASOn The Fly: Pre-market Movers
HIGHER: Sigma-Aldrich (SIAL), up 34% after Merck KGaA (MKGAY) to acquire the company for $17B... Viasystems (VIAS), up 44% after TTM Technologies (TTMI) acquires the company for $16.46 per share in cash and stock. TTM is up 15.5% after the deal... Clorox (CLX), up 5.4% after the New York Post said the company turned down offer to sell or merge with rival... EMC (EMC), up 2.5% after The Wall Street Journal said the company is considering options that could include merging with a rival and held on-and-off merger talks with Hewlett-Packard (HPQ) for almost a year, though the Journal added that those talks recently ended... Epiq Systems (EPIQ), up 9.9% after P2 Capital confirms 16.9% stake in Epiq and that the company turned down the shareholders' $20 per share takeover offer... Dresser-Rand (DRC), up 2.7% after the company sells to Siemens (SIEGY) for $83 per share or $7.6B... TAT Technologies (TATT), up 6.6% after a division of the company signed a maintenance agreement with Republic Airways (RJET). LOWER: Yahoo (YHOO), down 2.1% after stock was downgraded at Bank of America Merrill Lynch and at Bernstein... InvenSense (INVN), down 2.9% after downgraded at RW Baird... Threshold Pharmaceuticals (THLD), down 5.6% after TH-302 Phase 3 trial events to occur later than expected.
08:20 EDTVIASTTM Technologies to acquire Viasystems for $16.46 per share in cash and stock
TTM Technologies (TTMI) and Viasystems Group (VIAS) announced the execution of a definitive agreement under which TTM will acquire all outstanding shares of Viasystems for a combined consideration of $11.33 in cash and 0.706 shares of TTM common stock, which based on the closing market price on September 19 was valued at $16.46 per Viasystems share, or approximately $368M. The total enterprise value of the transaction, including the assumption of debt, is approximately $927M. TTM has identified at least $25 million in pre-tax cost synergies which are expected to be realized within the first year. These will result from combining the sales and general and administrative functions of the two companies. TTM believes that significant additional synergies will result from other integration efforts over a longer period of time. This transaction is expected to be materially accretive to non-GAAP earnings per share in the first year. TTM expects to utilize a new $1.3 billion senior secured credit facility to finance the cash portion of the purchase price, refinance certain debt at each company, and provide liquidity for working capital and general corporate purposes. TTM has received a fully-underwritten financing commitment from J.P. Morgan and Barclays to finance the transaction. The transaction is subject to customary closing conditions, including regulatory approvals and approval by the shareholders of Viasystems. The transaction is expected to close in the first half of 2015. J.P. Morgan acted as financial advisor for TTM, and Stifel acted as financial advisor for Viasystems.
07:50 EDTVIASTTM Technologies & Viasystems host a joint conference call
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07:32 EDTVIASTTM Technologies to acquire Viasystems for cash, stock
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07:31 EDTVIASTTM Technologies to acquire Viasystems for cash, stock
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07:16 EDTVIASTTM Technologies to buy Viasystems for over $250M, WSJ reports
According to a sources, TTM Technologies (TTMI) will acquire Viasystems (VIAS) for over $250M in cash and stock, the Wall Street Journal reports. A deal could be announced as early as today. Reference Link
06:57 EDTVIASViasystems trading halted, pending news

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