Day: December 20, 2020

Aerojet Rocketdyne to be Acquired by Lockheed Martin in $5.0 Billion All-Cash Transaction

Written by Customer Service on . Posted in Public Companies.

Purchase Price Represents a Premium of Approximately 33%Companies’ Complementary Capabilities and Talent to Enable Growth in Hypersonics, Tactical Missiles, Integrated Air and Missile Defense, Strategic Systems and Space ExplorationTransaction Provides Greater Value and Innovation for Customers by Integrating Critical Component of Supply ChainEL SEGUNDO, Calif., Dec. 20, 2020 (GLOBE NEWSWIRE) —  Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) today announced that it has entered into a definitive agreement to be acquired by Lockheed Martin Corporation (NYSE: LMT) in an all-cash transaction with a total equity value of $5.0 billion.Under the terms of the agreement, which has been unanimously approved by each company’s Board of Directors, Lockheed Martin will acquire Aerojet Rocketdyne for $56.00 per share in cash, representing a premium...

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Scorpio Bulkers Inc. Announces Exit from Dry Bulk Sector, Classifying Its Fleet as Held for Sale, Giving Notice to Terminate Agreements with Its Vessel Managers, and Intention to Change the Company Name

Written by Customer Service on . Posted in Public Companies.

MONACO, Dec. 20, 2020 (GLOBE NEWSWIRE) — Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) today announced that following the recent sales of vessels by the Company, its Board of Directors has authorized the Company, as part of its transition to a sustainable future, to sell its remaining dry bulk vessels and exit the dry bulk sector during 2021.  As a result of this decision, the Company expects to record a write-down ranging from $475.0 million to $500.0 million on vessels sold and classified as held for sale.  This estimated write-down includes non-cash charges of $425.0 million to $440.0 million to reflect the current fair market value of the fleet and $50.0 million to $60.0 million of estimated cash charges, which include $34.0 million to $36.0 million for the termination of various vessel-related agreements, as well as other...

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Festi: Competition Authority concludes investigation of fuel market

Written by Customer Service on . Posted in Public Companies.

The Competition Authority has announced the end of the investigation into the market for fuel which started in June 2013.The Competition Authority concluded that, following the decision to initiate a market investigation based on the identified competition concerns in the Authority‘s preliminary findings of 30 November 2015, the interventions of the Authority and changes in the market had resulted in improved wholesale access to fuel, improved access to facilities, decreased entry barriers, increased competition in the market for car fuel and reduction of oligopolistic elements in the market.   Therefore the harmful effects on competition due to parallel behaviour, vertical integration and entry barriers have improved over the time of the investigation and as a result of the measure.It is therefore the conclusion of the Competition Authority...

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Festi hf.: Samkeppniseftirlitið lýkur markaðrannsókn á eldsneytismarkaði

Written by Customer Service on . Posted in Public Companies.

Samkeppniseftirlitið hefur lokið markaðsrannsókn á eldsneytismarkaði sem hófst í júní 2013Samandregið er það niðurstaða Samkeppniseftirlitsins, vegna þeirra skaðlegu samkeppnisaðstæðna sem eftirlitið taldi að bregðast þyrfti við í frummatsskýrslu 30. nóvember 2015, að íhlutanir Samkeppniseftirlitsins sem og breytingar á markaði hafi leitt til þess að aðgengi að eldsneyti í heildsölu er betra en áður, aðgangur að birgðarými er greiðari, aðgangshindranir á eldsneytismarkaði eru minni, verðsamkeppni fyrir bifreiðaeldsneyti hefur aukist og fákeppniseinkenni markaðarins minnkað. Virðast skaðlegar samkeppnisaðstæður á eldsneytismarkaði vegna samhæfðrar hegðunar, lóðréttar samþættingar og aðgangshindrana því hafa batnað á tíma markaðsrannsóknarinnar og vegna hennar. Með hliðsjón af framangreindu er það mat Samkeppniseftirlitsins að ekki séu...

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