On Monday, Shares of Yahoo! Inc. (NASDAQ:YHOO), lost -2.61% to $37.83.
Yahoo! Inc., received notice of an unsolicited “mini-tender” offer by TRC Capital Corporation (TRC) to purchase up to 3 million shares of Yahoo’s common stock at a price of $37.45 per share in cash. The offering price is 4.56 percent below the closing price per share of Yahoo’s common stock on July 22, 2015, the last trading day before the offer was commenced. The offer is for about 0.32 percent of the outstanding shares of Yahoo’s common stock.
Yahoo does not endorse TRC Capital’s unsolicited mini-tender offer and recommends that shareholders do not tender their shares. Yahoo is not associated with TRC Capital, its mini-tender offer or the mini-tender offer documentation.
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops.
Shares of Blackstone Group LP (NYSE:BX), declined -0.43% to $38.10, during its last trading session.
Utility One Source, Based in Cinnaminson, New Jersey, TNT will remain a family-owned and operated business led by the Reilly family, who will continue to manage and to grow the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone earlier this year, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, equipment customization, remanufacturing and installation, and aftermarket services.
“I am delighted to welcome TNT aboard,” said Utility One Source Chairman Chris Ragot. “TNT is a great fit with our growth strategy and we are excited to expand our geographic footprint to the Northeast, in addition to to enhance our product offerings to comprise hi-rail. This addition to the Utility One Source family demonstrates our continued commitment to becoming the leading provider of solutions to the heavy equipment and utility industries.”
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations.
Finally, ImmunoGen, Inc. (NASDAQ:IMGN), ended its last trade with 0.06% gain, and closed at $17.42.
ImmunoGen, declared that the Company will host a conference call at 8:00 a.m. ET on Friday, July 31, 2015, to talk about ImmunoGen’s financial results for the three-month period and fiscal year ended June 30, 2015 and its guidance for its 2016 fiscal year. Administration also will provide an update on the Company.
ImmunoGen, Inc., a biotechnology company, develops targeted anticancer therapeutics. It develops its products using its antibody-drug conjugates technology. The company offers Kadcyla, an antibody-drug conjugate for the treatment of HER2-positive metastatic breast cancer.
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