Month: January 2015

Mergers & Acquisitions

XL Group Plc Announces Acquisition of Catlin Group Limited

January 9, 2015 0

XL Group Plc Announces Acquisition of Catlin Group Limited PR Newswire DUBLIN, Ireland, January 9, 2015 DUBLIN, Ireland , January 9, 2015 /PRNewswire/ — – Expected to Create a Leader in Global Specialty Insurance and Reinsurance Markets – Expected to Create Double Digit EPS and Meaningful ROE Accretion XL Group plc (NYSE: XL) today announced that it has entered into an agreement under which XL will offer to acquire all of the capital stock of Catlin Group Limited (LSE: CGL) to form a combined business which is expected to have a leading presence in the global specialty insurance and reinsurance markets. Under the terms of the transaction, XL will acquire all of Catlin’s common shares for consideration of 388 pence in cash and 0.130 share of XL for each Catlin common share. On the basis of the closing price of an XL share on 8, January of $35.42 the offer values Catlin at 693 pence per share. […]

Mergers & Acquisitions

Tech Mahindra Augments its Core Banking Expertise

January 9, 2015 0

Tech Mahindra Augments its Core Banking Expertise PR Newswire GENEVA, Switzerland and MUMBAI, India, January 9, 2015 GENEVA, Switzerland and MUMBAI, India , January 9, 2015 /PRNewswire/ — To acquire SOFGEN Holdings Limited Tech Mahindra Ltd. a specialist in digital transformation, consulting and business re-engineering today announced that it has signed a definitive agreement to acquire SOFGEN Holdings Limited (SOFGEN), a niche consulting and services company with worldwide presence specializing in Private / Wealth, Commercial and Retail Banking solutions. The transaction is expected to close by March 2015 , subject to regulatory approvals […]

Stock Analysts

PPG to Showcase Corrosion-Resistant Products at NAIAS

January 8, 2015 0

PPG Industries Inc. ( PPG ) will feature new products during preview days at the 2015 North American International Auto Show (NAIAS) in Detroit’s Cobo Center from Jan 12-15. The products that will be displayed include Powercron Advantedge And Powercron Epic Tin-Free Electrocoats that are formulated with a metal-free catalyst that will help manufacturers to cut energy use while complying with emerging environmental regulations. […]

Stock Analysts

Primoris’ Subsidiary Wins $140M Underground Contract

January 8, 2015 0

Rockford Corporation, a unit of Primoris Services Corporation ( PRIM ) and part of its West Construction Services segment, has secured three new underground contracts worth over $140 million from major midstream operators. The first contract comprises 88.6 miles of 36 inches diameter crude oil pipeline which will replace a 24 inches diameter pipeline. […]

Stock Analysts

State Auto Financial Inks Catastrophe Reinsurance Agreement

January 8, 2015 0

State Auto Financial Corp. ( STFC ) announced that the State Auto Group has inked a one-year property aggregate excess catastrophe reinsurance agreement with an association of reinsurers covering property business underwritten by the personal insurance and business insurance segments which include automobile physical damage. The insurance subsidiaries of State Auto Financial Corporation are part of the State Auto Group. […]

Stock Analysts

Herbalife Shares Up on Response to Ackman’s Charges

January 8, 2015 0

Shares of Herbalife Ltd ( HLF ) rose 4.3% yesterday after the nutritional supplements seller responded to the allegations from activist investor William Bill Ackman, hedge fund manager of Pershing Square. Ackman, in an interview to CNBC, made critical comments against Herbalife and compared it with Bernie Madoff. […]

Stock Analysts

NCR to Offer POS Solution to People’s Department Store

January 8, 2015 0

NCR Corporation ( NCR ) announced that its point-of-sale (POS) solution – NCR RealPOS 40 – has been chosen by No.1 People’s Department Store of Zhangjiagang City Co., Ltd. — the oldest commercial enterprise of Zhangjiagang City — for its stores. NCR further revealed that Shanghai Anmao Information Technology Company, its channel partner in China, is installing the devices at People’s Department Stores in Hangzhou city […]

Stock Analysts

General Motors’ China Sales Rise 12% in 2014, Shares Up

January 8, 2015 0

Share price of General Motors Company ( GM ) increased 2.8% to $35.84 on Jan 7, 2015 after the automaker and its joint ventures in China reported a 12% year-over-year increase in sales in the nation in 2014, taking the figure to 3,539,970 vehicles. The improved performance was driven by overall better performance in the Chinese auto market along with rising demand in the luxury, SUV and MPV segments. Domestic sales of Shanghai GM rose 13.1% to 1,710,025 vehicles in 2014 while that at SAIC-GM-Wuling stood at 1,787,931 vehicles, up 12.8% year over year. […]