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Pan American Silver (PAAS)
Pan American Silver declared a regular quarterly dividend in the amount of $.025 per share payable March 12, 2010 to shareholders of record on February 26, 2010.
At today''s $22.20 stock price the dividend yield is 0.45%.
Feb 15 · 7:45:00 PM
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by Michael Oliveto
Pan American Silver (PAAS)
Pan American Silver reported for the full year 2009 earnings of $61.998 million, or $0.71 per share, on sales of $454.8 million. That compares to the prior year earnings of $24.602 million, or $0.31 per share, on sales of $338.6 million.
The company expects silver production to increase modestly to 23.4 million ounces and gold production to decline in fiscal 2010, to 85,600 ounces as a result of slightly lower gold grades at Manantial Espejo and Alamo Dorado. In contrast, the Company expects zinc, lead and copper production to increase to 46,000 tonnes, 15,800 tonnes and 7,300 tonnes respectively, due to a fiscal 2010's production from San Vicente and an increase in throughput at Huaron.
Feb 15 · 7:41:00 PM · Source: Company Press Release
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by Michael Oliveto
Glatfelter (GLT)
Glatfelter announced today that it has completed its previously announced acquisition of Concert Industries Corp. from Brookfield Special Situations Management Limited, an affiliate of Brookfield Asset Management for $235 million subject to a post-closing working capital adjustment.
Glatfelter financed the acquisition through a combination of cash on hand, proceeds from the 7 1/8% unsecured senior notes issued on February 5, 2010 and borrowings under its existing revolving credit agreement.
Glatfelter will operate Concert as a third business unit along with its Specialty Papers and Composite Fibers business units.
Feb 15 · 7:21:00 PM · Source: Environmental Expert · Related: Brookfield Asset Management Inc
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by Michael Oliveto
Terra Industries (TRA)
Terra Industries announced that the Company's Board of Directors has unanimously approved a definitive merger agreement under which Yara International ASA (OSLO: YAR.OL) ("Yara") will acquire all of the outstanding shares of Terra common stock for US$41.10 per share in cash. The transaction has a total equity value of approximately US$4.1 billion. The US$41.10 per share cash purchase price represents a 23.6% premium over Terra's closing price on February 12, 2010, the last trading day prior to today's announcement.
"Our Board is unanimous in its firm belief that this transaction is compelling for our shareholders, customers, and employees" said Henry Slack, Chairman of the Board of Terra. "In December Terra paid a special cash dividend of $7.50 per share to our shareholders, and with this transaction, we have delivered a significant premium for their investment in Terra."
Feb 15 · 6:48:00 PM · Source: Company Press Release
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by Michael Oliveto
Albemarle (ALB)
Albemarle, a leading global provider of custom manufacturing services, announced it will partner with PharmaCore to provide manufacturing capabilities for customers with projects that require high volume capacity.
This alliance allows a seamless technology transfer from PharmaCore to Albemarle, offering PharmaCore customers long term, higher volume capacity for their pharmaceutical projects. Albemarle's custom manufacturing capabilities include a network of manufacturing assets in South Haven, Mich., Tyrone, Pa. and Orangeburg, S.C., providing Active Pharmaceutical Ingredients (APIs) and advanced pharmaceutical intermediate production in a broad range of scale and chemistries.
Feb 15 · 6:15:00 PM · Source: Company Press Release
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by Michael Oliveto
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
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