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Airgas (ARG)
Industrial gas supplier Airgas rejected the unsolicited $5 billion buyout bid from larger rival Air Products and Chemicals Inc., calling it a "bargain basement price."
In a letter to Air Products CEO John McGlade, Airgas said the $60 per share offer, as well as an earlier bid of $62 per share, "grossly" undervalues the company. Airgas also noted that, with the current depressed prices for many companies in the market, it is a "terrible" time to sell the business.
Feb 15 · 5:27:00 PM · Source: Las Vegas Sun
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by Michael Oliveto
Vulcan Materials (VMC)
Vulcan Materials declared a regular quarterly dividend in the amount of $.25 per share payable March 10, 2010 to shareholders of record on February 26, 2010.
At today''s $42.94 stock price the dividend yield is 2.33%.
Feb 12 · 11:16:00 PM
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by Michael Oliveto
Monsanto (MON)
Monsanto, the world’s largest seed producer, plans to lobby Brazil’s government for higher import taxes on an herbicide from China, saying that below-cost shipments are eroding its market share.
Chinese makers of glyphosate, used to kill weeds before crops are planted, are selling the herbicide in Brazil for less than it costs to produce, a practice known as “dumping,” said Rodrigo Almeida, Monsanto’s director of corporate affairs in Brazil.
Feb 12 · 9:58:00 PM · Source: Bloomberg
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by Michael Oliveto
Weyerhaeuser (WY)
Weyerhaeuserwas among 35 international companies recognized today by the investor-backed Forest Footprint Disclosure for leadership in managing their operations and supply chains to minimize the effects on forests worldwide.
The report also named Weyerhaeuser best performer in the Industrial and Auto sector. Weyerhaeuser was the only US-based company named a best performer.
Feb 10 · 4:56:00 PM · Source: Company Press Release
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by Michael Oliveto
Dow Chemical (DOW)
Dow Chemical said it will permanently shut down its 100-kilotonne-per-year capacity toluene diisocyanate (TDI) production plant in Freeport, TX.
Dow Polyurethanes will work with Dow Texas Operations to minimize the impact of this decision on the workforce, the company said. The plant will close because the company found manufacturing TDI is no longer economically viable, reports plasticnews.com. The major outlet for TDI is flexible foam for furniture and bedding.
Feb 10 · 4:48:00 PM · Source: Market Publishers
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by Michael Oliveto
Air Products (APD)
Air Products announced that it has made an offer to acquire Airgas, Inc. for $60.00 per share in cash.
At $60.00 per share, the offer provides a 38% premium to Airgas shareholders based on yesterday's closing price of $43.53 and is 18% above Airgas' 52-week high.
Feb 9 · 3:53:00 PM · Source: Reuters · Related: Airgas
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by Michael Oliveto
AK Steel (AKS)
About 284 workers laid off from AK Steel Corp's Mansfield plant have secured one victory this year all are back at work.
Mr Brian Speelman president of United Steelworkers of America Local 169 said “The last of those employees, who were laid off during the worst of the recession, returned to work late last month. Hourly union employees are working three shifts, seven days a week.”
Feb 9 · 3:49:00 PM · Source: Steel Guru
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by Michael Oliveto
Weyerhaeuser (WY)
Mitsubishi Corporation and Weyerhaeuser Company will be examining a variety of options regarding cooperation in the biomass industry. Both companies have specified this in the form of a strategic Memorandum of Understanding.
Weyerhaeuser sees existing and future opportunities on the international bio-energy market and has set its sights on becoming a leading bio-pellet manufacturer in cooperation with Mitsubishi.
Feb 9 · 3:39:00 PM · Source: EUWID Pulp and Paper
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by Michael Oliveto
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