On Tuesday, Shares of Rite Aid Corporation (NYSE:RAD), gained 0.26% to $7.86.
Walgreens Boots Alliance, Inc. (Nasdaq:WBA) declared it has accomplished the placement of $5 billion of term loan facilities, evenly split between two tranches of $2.5 billion each, with three- and five-year maturities, respectively, and a $7.8 billion term loan bridge facility. These facilities replace the company’s formerly stated $12.8 billion bridge facility commitment.
This financing has been put in place as part of the financing of Walgreens Boots Alliance’s projected acquisition of Rite Aid Corporation (RAD). Drawing under the facilities is subject to the closing of this acquisition.
The projected acquisition by Walgreens Boots Alliance of Rite Aid, which was declared on 27 October 2015, is subject to approval of Rite Aid’s stockholders and satisfaction of other customary closing conditions, counting expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is predictable to close in the second half of calendar 2016.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
Shares of General Motors Company (NYSE:GM), declined -0.03% to $34.50, during its last trading session.
General Motors Co. is facing calls to add air bags as standard equipment on its popular compact cars in Mexico, reflecting broader pressure on big auto makers to comprise basic safety equipment in their vehicles even when governments don’t require it.
Four American consumer-advocacy groups, counting Consumer Reports and Public Citizen, have sent a letter to GM Chief Executive Mary Barra calling on the company to make air bags a standard feature globally. At least one of those groups said the company hasn’t responded.
“Auto safety cannot only be for citizens living in wealthy countries,” the U.S. consumer groups wrote in their letter to GM’s Ms. Barra. “Yet GM’s practice of providing some consumers with the best safety technologies, while not even providing air bags to others, strikes us as a morally indefensible decision.”
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, in addition to under the Alpheon, Baojun, Jiefang, and Wuling brand names.
Finally, Enbridge Inc. (NYSE:ENB), ended its last trade with 1.12% gain, and closed at $33.36.
The Minnesota Public Utilities Commission (Commission) voted, at its most recent hearing on December 17, 2015, on several matters regarding the process to review the applications for a certificate of need and route permit for Enbridge Energy Partners, L.P.’s (“EEP”) projected Sandpiper pipeline and EEP’s portion of the Line 3 pipeline replacement project (“L3R”). The L3R project encompasses replacement of all segments of Line 3 between Hardisty, Alberta and Superior, Wisconsin and involves both EEP and Canadian auxiliaries of Enbridge Inc. (“ENB”, and together with EEP, “Enbridge”). Enbridge believes that most of those decisions were consistent with Enbridge’s expectations and that they provide clarity on process matters related to execution of the pipeline projects. The outcome of one of the Commission’s votes, however, contemplates the need to finalize an environmental impact statement for the pipeline projects before, rather than contemporaneously with, the Commission addressing other required matters. If upheld in the final order, this requirement could potentially delay the completion dates of the pipelines beyond the dates originally anticipated by Enbridge.
Enbridge will not be in a position to fully assess the potential impact of the Commission votes until it has had an opportunity to review the formal written order, which is not predictable to be released for about 30 to 60 days. Following receipt of the order, Enbridge will take any necessary steps to ensure the timely completion of the pipelines.
Enbridge Inc. operates as an energy transportation and distribution company in the United States and Canada. Its Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals. The company’s Gas Distribution segment operates as a natural gas utility that serves residential, commercial, and industrial customers in Central and Eastern Ontario, and Northern New York State, in addition to in Quebec and New Brunswick.
