posted by Yahoo! News Search Results for dividends on Jan 30
HONOLULU (AP) — Central Pacific Financial Corp., the parent company of Central Pacific Bank, earned $3.1 million in the fourth quarter and announced it was suspending dividends effective immediately to preserve capital.Archive for January, 2009
posted by Paritosh Bansal on Jan 30
The credit crisis may just be the leverage Roche needs in its bid for Genentech.
The Swiss drug maker went hostile with its bid to buy the 44 percent of Genentech it doesn’t already own. But in a rather unusual move, it has gone to shareholders with an offer that is actually lower than the $44 billion bid it initially made for the U.S. biotech group.
Investors now have a public tender offer at $86.50 per share in cash, valuing the deal at $42 billion, down from $89 per share earlier.
After the initial announcement in July, Genentech shares rose to a high of $99.05, but later fell back below the offer price as the credit crisis bit, giving Roche the leeway to lower its bid.
Roche had initially aimed to acquire the remaining shares through a negotiated settlement — an offer rejected by Genentech — and decided to appeal directly to shareholders after further talks failed to reach an agreement.
Genentech could have been trying to delay the process until key clinical data on its blockbuster cancer drug Avastin due in April — when positive results could drive up the company’s value, analysts said.
DEALS OF THE DAY
** Toshiba is in talks to merge part of its chip operations with NEC Corp’s semiconductor unit, a source said, as a sharp global slowdown forces Japanese chip makers to cut jobs and try to band together.
** India’s Spice Group is ready to invest about 20 billion rupees ($408 million) in Satyam Computer Services and wants to buy a 51 percent stake in the fraud-scarred outsourcer, Spice Chairman B.K. Modi said.
** Satyam said asset manager Fidelity Investments had raised its holding to 6.79 percent in the Indian outsourcer, which would potentially make it the second largest stakeholder.
** Commodities firm Noble Group and Indonesian coal miner PT Indika Energy are among the companies pursuing a bid for Straits Asia Resources, according to sources familiar with the matter, in a deal that could be worth more than $800 million.
** Billionaire Alisher Usmanov sold his majority stake in a gigantic gas deposit to the banking arm of Russian gas export monopoly Gazprom, taking its share in the field to 100 percent, a paper said.
** Anglo-Australian fund manager Henderson Group unveiled a 115 million pounds ($162.3 million) offer for struggling rival New Star Asset Management.
** U.S. diagnostics firm Gen-Probe announced a recommended offer to buy British testing company Tepnel for $132.2 million in cash.
** Hospital chain Fortis Healthcare said it acquired a majority stake in Bangalore-based Apollo RM Hospital, widening its presence in south India.
(Photo: REUTERS/Christian Hartmann)
posted by Yahoo! News Search Results for dividends on Jan 30
Bracing themselves for at least several more months of economic misery, some community banks across the Puget Sound region are taking the unprecedented step of suspending their quarterly shareholder dividends or slashing them to several cents on the dollar.posted by Michael Erman on Jan 29
Dow Chemical may have yet to lay out its legal strategy for walking away or delaying its more than $15 billion takeover of Rohm and Haas, but its strategy makes sense from a game-theoretic standpoint, according to JP Morgan analyst Jeffrey Zekauskas.
If the court orders Dow to close the transaction after a trial, it would be no worse off than it would be today, except for legal fees, he argued in a research note earlier this week.
There also could be a benefits: “It may be that the court rules in its favor to a smaller or larger degree; it may be that Rohm and Haas grants it a financial concession as part of the legal process,” he wrote.
Still, Dow could back itself into a corner in terms of financing if it closes the deal too late.
The company is working to renegotiate the terms of its $13 billion, one-year term loan it would use to finance the deal. But as the terms of the loan are currently written, the loan will either mature a year after the deal closes or April 14, 2010, which ever date is earlier.
So if the deal doesn’t close by mid-April, Dow’s financing issues could be made more difficult, not easier, by the delay.
(PHOTO: Pensioners play outdoor chess as they enjoy a sunny autumn morning in Sarajevo November 3, 2008. REUTERS/Danilo Krstanovic)
posted by Yahoo! News Search Results for dividends on Jan 29
A number of REITs focused in part if not exclusively on net lease property investments are taking steps to retain capital and reduce leverage. Some have been repurchasing their own debt (at healthy discounts, to boot), some have been reducing dividends and some are doing both.posted by Yahoo! News Search Results for dividends on Jan 29
MUMBAI: At a time when returns from the stock market are tough to come by, a select band of companies have announced tax-free dividends for its shareholders.posted by Yahoo! News Search Results for dividends on Jan 29
At a time when returns from the stock market are tough to come by, a select band of companies have announced tax-free dividends for its shareholders.posted by Yahoo! News Search Results for dividends on Jan 29
DAYTON, Ohio----The Board of Directors of The Dayton Power and Light Company declared quarterly dividends on The Dayton Power and Light Company preferred stocks as follows: $0.9375 per share on the 3.75% Series A, Cumulativeposted by Yahoo! News Search Results for dividends on Jan 29
St. Mary?s, which plays Thursday at No. 20 Gonzaga, has had a taste of success with the five Australian students on the team.posted by Yahoo! News Search Results for dividends on Jan 29
Business credit-card company Advanta said Thursday that it lost $43.8 million in the fourth quarter largely because of credit losses, and that it would cut its dividends and expenses, including jobs and marketing. (ADVNA)
