On Tuesday, Energy Transfer Equity LP (NYSE:ETE)’s shares declined -0.08% to $64.17.
Energy Transfer Equity LP (ETE) declared the pricing of $650 million aggregate principal amount of its 2.500% senior notes due 2018, $350 million aggregate principal amount of its 4.150% senior notes due 2020, $1.0 billion aggregate principal amount of its 4.750% senior notes due 2026 and $1.0 billion aggregate principal amount of its 6.125% senior notes due 2045, at a price to the public of 99.946%, 103.113% (plus accrued interest from April 1, 2015), 99.275% and 99.619%, respectively, of their face value. The senior notes due 2020 are being offered as additional notes under an indenture following which ETP issued $700 million aggregate principal amount of 4.150% senior notes due 2020 on September 19, 2013. These additional senior notes due 2020 and the existing senior notes due 2020 will be treated as a single series of securities under such indenture.
Energy Transfer Equity, L.P., through its auxiliaries, provides diversified energy-related services in the Unites States. It owns and operates about 7,700 miles of natural gas transportation pipelines and 3 natural gas storage facilities located in the state of Texas; and about 12,800 miles of interstate natural gas pipeline.
International Business Machines Corp. (NYSE:IBM)’s shares dropped -0.19% to $162.66.
IBM (NYSE: IBM) and Box (BOX) declared a global partnership that will combine the best-in-class technologies and resources of both companies to transform work in the cloud. Together, the companies plan to integrate their existing products and services and develop new, innovative solutions targeted across industries and professions ranging from medical teams working on complex cases to individuals negotiating consumer loans by mobile phone to engineers and researchers identifying patterns in patents, reports and academic journals.
As companies increasingly seek simple, secure partnership solutions that tap into local data and have global reach, this planned alliance brings together Box’s industry-leading cloud content partnership platform with IBM Analytics and Social solutions, IBM Security technologies and the global footprint of the IBM Cloud. The two companies will jointly deliver these solutions to market internationally, and IBM will also enable builders and developers to integrate Box APIs into enterprise apps and web services.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support. Its Global Business Services segment offers consulting and systems integration services for strategy and transformation, application innovation services, enterprise applications, and smarter analytics; and application administration, maintenance, and support services.
At the end of Tuesday’s trade, Health Care REIT, Inc. (NYSE:HCN)‘s shares dipped -0.20% to $65.63.
Health Care REIT, Inc. (HCN) notified holders of its 3.00% Convertible Senior Notes due 2029 (the “Notes”) that they continue to be entitled to convert all or a portion of their Notes into cash and, if applicable, shares of the company’s common stock (the “Conversion Option”) through the close of business on September 30, 2015. The Notes remain convertible because the closing price of shares of the company’s common stock, for at least 20 trading days during the 30 successive trading-day period ending on June 30, 2015, was greater than 120% of the conversion price in effect on June 30, 2015.
To convert a certificated Note, a holder must (1) complete and sign a conversion notice, with appropriate signature guarantee, on the back of each Note, (2) surrender the Notes to The Bank of New York Mellon Trust Company, N.A., which is serving as the conversion agent, (3) furnish appropriate endorsements and transfer documents if required by the registrar or the conversion agent, (4) pay the amount of interest, if any, the holder must pay in accordance with the indenture, and (5) pay any tax or duty if required following the indenture. To convert interests in a global Note, the holder must comply with The Depository Trust Company’s (“DTC”) applicable conversion program procedures.
Upon conversion, the principal amount of the Notes will be paid in cash and the conversion value, if any, will be paid in shares of common stock based upon the volume-weighted average prices per share of the company’s common stock during the 20-trading day period following the satisfaction of the conversion procedures described above.
A holder may convert a portion of the Notes. The converted portion must be a principal amount of $1,000 or a multiple of $1,000.
Health Care REIT, Inc. is an independent equity real estate investment trust. The firm engages in acquiring, planning, developing, managing, repositioning and monetizing of real estate assets. It primarily invests in the real estate markets of the United States. The firm primarily invests in senior living and health care properties.
MeadWestvaco Corp. (NYSE:MWV), ended its Tuesday’s trading session with -0.59% loss, and closed at $47.19.
Rock-Tenn Company (RockTenn) (RKT) and MeadWestvaco Corporation (MWV) (MWV) declared that shareholders of RockTenn and stockholders of MWV overwhelmingly approved the projected combination of the two packaging companies into WestRock Company (WestRock) at their respective special meetings held earlier recently.
At the RockTenn special meeting, more than 97% of the shares voted “FOR” the proposal to approve the business combination agreement, representing about 80% of the total shares outstanding as of the record date. At the MWV special meeting, 98% of the shares voted “FOR” the proposal to approve the adoption of the business combination agreement, representing about 83% of the total shares outstanding as of the record date. RockTenn shareholders and MWV stockholders also approved the other proposals considered at their respective special meetings.
RockTenn and MWV have now received all necessary approvals and expect the transaction to close on July 1, 2015. The parties expect that WestRock will start “regular-way” trading, and RockTenn and MWV will be delisted from the NYSE on July 2, 2015.
MeadWestvaco Corporation provides packaging solutions to the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries worldwide. The company’s Food & Beverage segment offers packaging materials and paperboards, and beverage packaging machinery, in addition to engages in the carton design and converting operations.
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