Economic Data

Timeout From Fed Worries Today – Ahead of Wall Street

Tuesday, May 28, 2013 The market takes timeout on worrying about the Fed in today’s trading session and take inspiration from positive overnight momentum out of Asia and Europe. No specific developments out of those regions, but markets reversed the prior week’s losses on hopes of continued central bank support. On the economic docket, we have the Conference Board’s Consumer Confidence survey for May and the March Case-Shiller home price index coming out a little later. […]

Mergers & Acquisitions

Versailles Group Announces the Sale of PayTrue Solutions to EFT Group

Versailles Group Announces the Sale of PayTrue Solutions to EFT Group PR Newswire BOSTON, May 28, 2013 BOSTON , May 28, 2013 /PRNewswire-iReach/ — Versailles Group, Ltd. ( www.versaillesgroup.com ) is pleased to announced that PayTrue Solutions ( www.paytrue.com ), with offices in Uruguay and Brazil , has been acquired by EFT Group S.A. ( www.eftgroup.net ). […]

Mergers & Acquisitions

Vista Equity Partners Commences Tender Offer for All Outstanding Shares of Websense, Inc.

Vista Equity Partners Commences Tender Offer for All Outstanding Shares of Websense, Inc. — Previously-Announced Offer Price of $24.75 Per Share in Cash — PR Newswire SAN DIEGO, May 28, 2013 SAN DIEGO , May 28, 2013 /PRNewswire/ — Websense, Inc. (NASDAQ: WBSN) (the “Company” or “Websense”) and Vista Equity Partners today announced that Tomahawk Merger Sub, Inc. […]

Mergers & Acquisitions

Crest Financial Urges "True Minority" of Clearwire Stockholders to Oppose New Sprint Offer and Preserve Rights to Seek Fair Treatment in Court

Crest Financial Urges “True Minority” of Clearwire Stockholders to Oppose New Sprint Offer and Preserve Rights to Seek Fair Treatment in Court Sends letter to Clearwire stockholders urging them to reject Sprint’s new offer and preserve rights to seek an appraisal under Delaware law PR Newswire HOUSTON, May 28, 2013 HOUSTON , May 28, 2013 /PRNewswire/ — Crest Financial Limited, the largest of the independent minority stockholders of Clearwire Corporation (NASDAQ: CLWR), today urged Clearwire’s “true minority stockholders” to oppose Sprint’s new offer and to take the steps necessary to preserve their rights. In a letter to stockholders, David K. […]

Mergers & Acquisitions

Covington Advises Omthera Pharmaceuticals on Merger with AstraZeneca

Covington Advises Omthera Pharmaceuticals on Merger with AstraZeneca PR Newswire NEW YORK, May 28, 2013 NEW YORK , May 28, 2013 /PRNewswire/ — Omthera Pharmaceuticals and AstraZeneca announced today that the companies entered into a merger agreement under which AstraZeneca will acquire all of the outstanding stock of Omthera for an upfront payment of $12.70 in cash per share, approximately $323 million aggregate value ( $260 million after subtracting cash), plus a contingent value right for up to $4.70 per share, equaling approximately $120 million and for a total value of up to $443 million . Covington & Burling LLP advised Omthera on the transaction. Omthera is an emerging specialty pharmaceutical company led by a team of experts with exceptional experience in developing new therapies for lipid disorders […]

Mergers & Acquisitions

Winterhawk Consulting Expands into Asia

Winterhawk Consulting Expands into Asia SAP GRC and Security specialists, Winterhawk Consulting, further expands its reach into the marketplace PR Newswire MANILA, The Philippines, May 28, 2013 MANILA, The Philippines , May 28, 2013 /PRNewswire-iReach/ — Winterhawk Consulting is proud to announce the formation of Winterhawk Consulting Asia with the firm of AuditSAP. Winterhawk Consulting Asia will be headquartered in the Philippines . […]

Mergers & Acquisitions

Royalty Pharma Issues Investor Presentation Highlighting The Strategic And Financial Advantages Of Its Offer To Acquire Elan For $12.50 Per Share In Cash

Royalty Pharma Issues Investor Presentation Highlighting The Strategic And Financial Advantages Of Its Offer To Acquire Elan For $12.50 Per Share In Cash Underscores Compelling Logic for Elan Stockholders to SELL their shares to Royalty Pharma Urges Elan Stockholders to Vote AGAINST Elan Proposed Transactions So As Not to Risk Losing the Royalty Pharma Deal Altogether Minimum Acceptance Threshold of 50% Plus One Share Offer Affords Elan Stockholders the Ability to Speak Their Voice and Avoid Value Destruction PR Newswire NEW YORK, May 28, 2013 NEW YORK , May 28, 2013 /PRNewswire/ — Royalty Pharma announces today that it has issued an investor presentation related to Royalty Pharma’s increased offer to acquire Elan Corporation, plc (NYSE: ELN) for $12.50 per share in cash. The presentation outlines why Royalty Pharma believes Elan Stockholders should accept its compelling, fully-financed and cash confirmed offer, which is not conditional on due diligence. […]

Stock Analysts

Advance Auto Beats but Earnings Fall

Advance Auto Parts Inc. ( AAP ) saw a 7.8% decline in earnings to $1.65 per share in the first quarter of its fiscal year ended Apr 20, 2013 from $1.79 in the same quarter of prior fiscal year. Nevertheless, earnings were higher than the Zacks Consensus Estimate of $1.61 per share. […]

Mergers & Acquisitions

Victory Energy Expands Successful Permian Basin Lightnin’ Prospect

Victory Energy Expands Successful Permian Basin Lightnin’ Prospect First Well on New Acreage Spud May 14 PR Newswire AUSTIN, Texas, May 28, 2013 AUSTIN, Texas , May 28, 2013 /PRNewswire/ — Victory Energy Corporation (OTCQB: VYEY), an independent, growth-oriented oil and gas company, today announced the acquisition of a 320-acre (gross) lease in Glasscock County, Texas through Aurora Energy Partners (“Aurora”), which the Company manages and in which it owns a 50 percent interest. The acquired acreage is adjacent to the Company’s successful Cotter #1 well which has averaged over 60 gross barrels of oil per day in the month of May. […]

Mergers & Acquisitions

AstraZeneca to Acquire Omthera Pharmaceuticals Including NDA-Ready Novel Dyslipidemia Treatment to Complement Cardiovascular Portfolio

AstraZeneca to Acquire Omthera Pharmaceuticals Including NDA-Ready Novel Dyslipidemia Treatment to Complement Cardiovascular Portfolio PR Newswire PRINCETON, N.J., May 28, 2013 PRINCETON, N.J. , May 28, 2013 /PRNewswire/ — AstraZeneca today announced that it has entered into a definitive agreement to acquire Omthera Pharmaceuticals, a specialty pharmaceutical company based in Princeton, New Jersey , focused on the development and commercialization of new therapies for abnormal levels of lipids in the blood, referred to as dyslipidemia. […]

Kitco Video

For Pete’s Sake: Bernanke Keeps Gold on Hold

[youtube RY6zVysEBZw] Kitco News talks with Peter Hug about Bernanke’s address and its effects on the gold market. According to Hug, the Fed’s quantitative easing will continue and the $25 jump in gold was an illogical move. He adds that Bernanke’s speech shows that nothing has changed […]

Mergers & Acquisitions

Mobilicity announces exercise of Senior Noteholder Payment Election under the Revised TELUS Acquisition Plan

Mobilicity announces exercise of Senior Noteholder Payment Election under the Revised TELUS Acquisition Plan Canada NewsWire TORONTO, May 27, 2013 TORONTO , May 27, 2013 /CNW/ – Data & Audio-Visual Enterprises Holdings Inc. and its affiliates (collectively, Mobilicity ) today announced that it has exercised the “Senior Noteholder Payment Election” in accordance with the Interim Order of the Ontario Superior Court of Justice (Commercial List) dated Friday, April 26, 2013 and the Revised TELUS Acquisition Plan dated May 22, 2013. This press release constitutes the “Senior Noteholder Payment Election Notice” pursuant to the Interim Order and the Revised TELUS Acquisition Plan. […]