On Tuesday, Alcatel-Lucent (NYSE:ALU)’s shares surged 13.33% to $4.93, hitting its highest level, after The Finland-based Nokia and France-based Alcatel confirmed the companies are in advanced talks to explore a complete buyout of Alcatel, according to a Reuters report. The companies noted the deal could still fail to materialize. However, the deal is reportedly backed by the French government.
On Monday, reports surfaced the two companies were in buyout discussions, but earlier reports pointed to a partial buyout where Nokia was interested in only the wireless assets of Alcatel.
Alcatel-Lucent provides Internet protocol (IP) and cloud networking, and ultra- broadband access worldwide. The company’s Core Networking segment offers IP routing, carrier Ethernet, network functions virtualization, and software defined networking applications and infrastructure to meet the challenges of network traffic growth while supporting the delivery of cloud-enabled business, mobile, and residential services for service providers, mobile network operators, cable/multiple system operators, transportation, utilities, and large-scale enterprises.
GW Pharmaceuticals plc (NASDAQ:GWPH)’s shares surged 13.07% to $108.75, during the last trading session on Tuesday, hitting its highest level, after GW Pharmaceuticals noted that the American Academy of Neurology (AAN) issued a press release recently on GW’s investigational medicine, Epidiolex(R) (pure cannabidiol, or CBD).
Data in the AAN release are from physician-led FDA authorized Epidiolex “expanded access” programs for children and young adults with treatment-resistant epilepsy that have exhausted accessible treatment options. The data provide treatment effect information on a total of 137 patients who have at least 12 weeks of Epidiolex exposure. Safety data is offered on 213 patients, representing these 137 patients plus additional patients still in their first 12 weeks of treatment.
Additional data will be presented in a poster at the AAN Annual Meeting on 22 April at 6.15pm EDT, at which time GW will make an additional disclosure.
GW Pharmaceuticals plc, a biopharmaceutical company, together with its auxiliaries, engages in discovering, developing, and commercializing cannabinoid prescription medicines. It operates in three segments: Commercial, Sativex Research and Development, and Pipeline Research and Development.
At the end of Tuesday’s trade, American Eagle Energy Corporation (NYSEMKT:AMZG)’s shares gained 12.57% to $0.17, after American Eagle declared that on April 2, 2015, the following events occurred in respect of the Notes that the Company sold in August 2014:
- The Company reached a Forbearance Contract with four holders, who collectively own or manage in excess of 50% (face amount) of the August Notes;
- The Company tendered the sum of $4.0 million as a partial interest payment to U.S. Bank National Association, as trustee under an Indenture, dated as of August 27, 2014, following which, among other things, the Company issued the August Notes to the holders thereof, some of whom are members of the Ad Hoc Group, which partial interest payment left the Company in default as to about $5.8 million of unpaid interest as of April 1, 2015, in addition to certain other fees, expenses and other amounts that are chargeable or otherwise reimbursable under the Indenture and the other related documents;
- The Company received a letter from SunTrust Bank, as control agent, in respect of an August 27, 2015, Intercreditor Contract among SunTrust Bank, as First Lien Collateral Agent, U.S. Bank National Association, as the Second Lien Collateral Agent, and the Company, in which SunTrust Bank offered notice of its resignation as control agent under that Intercreditor Contract, which resignation is to become effective on May 1, 2015, unless SunTrust Bank is replaced in that role earlier; and
- The Company received a letter from SunTrust Bank, as administrative agent, in respect of a Credit Contract that the Company entered contemporaneously with the Intercreditor Contract, in which SunTrust Bank gave the Company notice of an Event of Default thereunder — specifically, the Company’s failure to have paid the above-referenced interest payment in full, rather than in part.
American Eagle Energy Corporation engages in the attainment, exploration, development, and production of oil and gas properties. It primarily holds interests in the oil deposits located within the Bakken and Three Forks formations in western North Dakota and eastern Montana.
Finally, Breitburn Energy Partners LP (NASDAQ:BBEP), ended its Tuesday’s trading session with 11.97% gain, and closed at $6.36, after Breitburn Energy declared that it closed the formerly declared private offerings of $350 million of Series B perpetual convertible preferred units and $650 million of senior secured notes (Senior Notes) to investment funds managed by EIG, and other purchasers. In addition, Breitburn declared that it has amended its credit facility to allow for the issuance of the Senior Notes and to establish a revised borrowing base of $1.8 billion through April 2016, subject to limited exceptions.
Breitburn anticipates to use the net proceeds of about $930 million from the private offerings to repay borrowings under its credit facility, resulting in net borrowings, at closing, of about $1.29 billion.
Breitburn Energy Partners LP, an independent oil and gas partnership, attains, exploits, and develops oil, natural gas liquids (NGLs), and natural gas properties in the United States. The company’s oil, NGL, and natural gas reserves are primarily located in seven producing areas comprising the Arkansas, Louisiana, and East Texas; Michigan, Indiana, and Kentucky; Permian Basin in Texas and New Mexico; the Mid-Continent covering Oklahoma, Kansas, and the Texas Panhandle; Rockies in Wyoming; Florida and Alabama; and California.
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