Month: November 2011

Mergers & Acquisitions

American Greetings Corporation Announces Offering of $225 Million of Senior Notes in Connection With Tender Offers for Its Outstanding 7.375% Senior Notes Due 2016 and 7.375% Notes Due 2016

November 15, 2011 0

American Greetings Corporation Announces Offering of $225 Million of Senior Notes in Connection With Tender Offers for Its Outstanding 7.375% Senior Notes Due 2016 and 7.375% Notes Due 2016 PR Newswire CLEVELAND, Nov. 15, 2011 CLEVELAND , Nov. 15, 2011 /PRNewswire-FirstCall/ — American Greetings Corporation (NYSE: AM) (“American Greetings”) announced today that it is offering to sell, subject to market and other conditions, $225.0 million aggregate principal amount of senior notes in a public offering under its effective shelf registration statement, filed with the Securities and Exchange Commission on November 15, 2011 […]

Mergers & Acquisitions

ChinaCast Education Corporation Forms Special Committee

November 15, 2011 0

ChinaCast Education Corporation Forms Special Committee PR Newswire BEIJING, Nov. 15, 2011 BEIJING , Nov. 15, 2011 /PRNewswire-Asia-FirstCall/ — ChinaCast Education Corporation (the “Company” or “ChinaCast”) (Nasdaq GS: CAST), a leading post-secondary education and e-learning services provider in China , today announced that its Board of Directors has formed a special committee of independent directors to consider all strategic alternatives which would enhance shareholder value after receiving an unsolicited bid for the Company made by a qualified institutional investor at a significant premium to the current market price of the Company’s common stock […]

Momentum Stocks

Kellogg Company (K) – Bear of the Day (K)

November 15, 2011 0

We have downgraded our recommendation on Kellogg Company ( K ) to Sell from a Hold on weak third-quarter 2011 earnings of $0.80 per share, which lagged the Zacks Consensus Estimate by 10.1% and the prior-year earnings by 11%. The results were driven by weak economic environment, increased cost of goods sold and increased supply-chain costs due to the reinstatement of incentive compensation costs. The company expects these costs to rise for the foreseeable future […]