posted by Yahoo! News Search Results for dividends on Jan 28
Kuwait Finance House dividends for shareholders KD157m, KD216.8m for depositors 08Archive for January, 2009
posted by Michael Erman on Jan 28
Is Dow’s refusal to close its acquisition of Rohm and Haas just a play for more time? The company has yet to lay out a legal defense, but in a series of interviews yesterday Dow CEO Andrew Liveris said the the company was working to revise its bank financing for the deal and was also looking for new partners to replace Kuwait in a failed joint venture it had planned to use to help fund the Rohm deal.
Moreover, in its complaint against Dow filed with the Delaware Court of Chancery, Rohm says that Liveris repeatedly asked for an extension until June 30 to decide whether to close the deal and also alleges that he lobbied for a delay in FTC clearance of the deal.
And yesterday, Delaware Chancellor William Chandler said Dow had argued that the trial in the matter should be delayed until late March or early April. Unfortunately for Dow, Chandler disagreed and set a date for the trial for March 9.
One reason Dow might be looking to delay the trial? Lawyers argue that the merger agreement favors Rohm and Haas’ case.
“At the end of the day, the facts win cases,” said Howard Berkower, a partner at law firm McCarter & English. “And Rohm and Haas has a good hand.”
Still, Berkower said there’s more than a month even until the court case is heard.
“That’s a lot that could happen in that time,” he said, noting that parties in cases like this more often than not find common ground for a settlement.
Dow could not immediately be reached for comment.
posted by Yahoo! News Search Results for dividends on Jan 28
A significant number of companies are slashing dividends to preserve cash.posted by Yahoo! News Search Results for dividends on Jan 28
DENVER----UDR, Inc., reported today the tax status of its 2008 dividends paid to shareholders. Details on the classifications of the dividends are included in the table below: PaymentDate DistributionPer Share OrdinaryTaxableDividend QualifiedOrdinary Long-TermGain UnrecapturedSection 1250Gain Return ofCapital Common Shares: 1/31/2008 0.33000 7.97% 0.00% 69.28% 22.75% 0.00% 4/30/2008 0.33000 ...posted by Robert MacMillan on Jan 28
We've heard in recent days that The New York Times has gotten some interest in its stake in the Boston Red Sox, but it seems like whatever offers are being discussed, they must not be enough for the publisher.
In the murky, mysterious world of mergers and acquisitions, companies and their bankers and financial advisers tend to operate far below the radar -- only surfacing to leak the news in The Wall Street Journal that a deal is close at hand.
Not this time. While the Journal did get the tip-off back in December, the Times on Wednesday simply issued a press release inviting all comers to take a look at the stake. Not only that, the Times published the name of the Goldman Sachs banker handling the sale, along with his phone number. Usually, as a reporter, you have to cash in lots of chips to get digits like that.
Why do it this way? Because no one bit when they did it in the usual way. That means the NYT's price for the stake either will come down, or it will have to wait a while until it finds someone who shares its conception of what the stake must be worth. (We've heard all sorts of numbers, but $200 million seems like one that analysts could agree on. It could go lower from there.)
So in the new spirit of openness and media companies helping media companies, serious buyers can call Gregory Lee at Goldman Sachs, 212-902-7584.
posted by Yahoo! News Search Results for dividends on Jan 28
It's a good idea to check.posted by Yahoo! News Search Results for dividends on Jan 28
NEW YORK — Dividends are being cut at the fastest pace in at least 50 years, and many of the reductions are coming from U.S. companies investors have been relying on to provide income during the recession.posted by Paritosh Bansal on Jan 28
Citi scrapped plans to buy a $50 million corporate jet after it raised eyebrows all the way to the White House. Politicians called the order, which was made in 2005, wasteful.
True, Citi has been propped up by taxpayers, swallowing up $45 billion of capital since October. Its market value is now only about $17 billion. And it has lost more than $28.5 billion in the last 15 months.
But how unusual is it for a company the size of Citi, once the world’s largest bank, to have a corporate jet?
It is not as if Citi placed an order for it in November, when it got the $20 billion emergency cash infusion. Cancelling the Dassault Falcon 7X order is actually going to cost money. The bank placed a deposit on the jet when it agreed to buy it. And it will likely have to pay a penalty for not buying the plane, the amount of which is being negotiated.
Citi is down. And the jet became an excuse to kick it, which is probably well-deserved. But should a bank really be micromanaged by popular vote?
DEALS OF THE DAY
** The world’s top oil seed processor Bunge is in talks to buy a strategic stake in sugar firm GMR Industries to gain entry into sugar making, a newspaper reported citing an unnamed source.
** The heirs of the founder of Roche Holding have decided to extend their agreement to exercise a majority shareholding in the Swiss drugmaker, private bank Scobag said.
** Britain’s VT Group said it would sell its 45 percent stake in its BVT Surface Fleet naval shipbuilding operations to its joint-venture partner BAE Systems for a minimum 380 million pounds ($536 million).
**Israeli conglomerate Africa Israel Investments said it signed a memorandum of understanding to sell its 50 percent stake in the Gottex swimwear venture to its partners for $50 million.
** Britain’s business support group Hargreaves Services bought the remaining 50 percent stake in Coal4Energy Ltd from UK Coal Plc for 9 million pounds ($12.70 million), the companies said.
** Norwegian engineering company Aker Solutions ASA said that it had bought the remaining 50 percent of the German drilling equipment firm WIRTH.
** Drug maker Piramal Healthcare Ltd said it had acquired the inhalation anaesthetic gas distribution unit of U.S.-based RxElite Inc for about $4.2 million in cash.
** A group of Spanish investors, Catalana D’Iniciatives, is finalising an offer for SAS unit Spanair, a spokesman for the Barcelona-based consortium said.
** Dutch market maker All Options has agreed to buy Dutch proprietary trading company Saen Options to strengthen All Options’s position in Europe and Asia, All Options said.
** Shares in Veolia rose on Wednesday after a report in French weekly L’Express said U.S. funds were eyeing a stake in the French water and waste management group.
** Lanxess could buy Indian peer Gwalior Chemical Industries Ltd. or another small or mid-sized company on the subcontinent, a person familiar with the plans told Reuters.
** Shares in Satyam Computer Services rallied on Wednesday, extending gains to an eighth session, after the fraud-hit outsourcer’s new board said there had been wide bidding interest and a transparent process would be devised.
** British construction materials group Ennstone Plc’s shares were suspended on Wednesday after it said the chance of sales and refinancing talks concluding successfully had “diminished greatly”.
(Photo: REUTERS/Alywin Chew)
posted by Yahoo! News Search Results for dividends on Jan 28
Jan. 28 (Bloomberg) -- U.S. real estate investment trusts may pay more of their dividends in 2009 in stock rather than cash to save $10 billion a year in the credit crisis.posted by Yahoo! News Search Results for dividends on Jan 28
McClatchy Suspends Dividends To Conserve Cash, Cut Debt
