On Wednesday, Shares of Noble Corp plc (NYSE:NE), lost -0.50% to $12.90. The stock attained the volume of 15.43 million shares.
Noble Corporation plc (NE) declared it plans to report financial results for the third quarter 2015 on Wednesday, October 28, 2015, after the close of trading on the New York Stock Exchange. Copies of the Company’s press release will be accessible on the Noble Web site at www.noblecorp.com.
Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It owns and operates a fleet of mobile offshore drilling units.
Shares of Suncor Energy Inc. (USA) (NYSE:SU), surged 1.34% to $27.14, during its last trading session. The share price of this stock traded recently in a range of $26.88 to $27.53. The company now has a market value of $38.71 billion.
Suncor Energy Inc. declared that it has formally commenced an unsolicited offer (the “Offer”) to Canadian Oil Sands Limited shareholders to acquire all of the outstanding shares of COS for total consideration of about $4.3 billion. Under the terms of the Offer, each COS shareholder will receive consideration of 0.25 of a Suncor share per COS share. Counting COS’ estimated outstanding net debt of $2.3 billion as at June 30, 2015, the total transaction value is about $6.6 billion.
Benefits of the Offer:
- Premium to market price.The Offer represents a noteworthy premium of 43% based on the closing prices of the COS shares and the Suncor shares on the TSX on October 2, 2015, the last trading day before the Offer was declared, and a 35% premium to the volume weighted average trading price of the COS shares on the TSX for the 30 trading days ended October 2, 2015.
- Superior returns to shareholders.Suncor’s annual dividend has raised for 13 successive years, and in the past five years, Suncor has offered its shareholders with a compound annual dividend growth rate in excess of 20%, placing it among the leaders of its peer group. If the Offer is accepted, COS’ shareholders would experience a 45% dividend uplift.
- Investment in an integrated energy company with noteworthy liquidity and access to capital.Suncor’s integrated business model is designed to generate comprising cash flow which has enabled Suncor to fund its capital program, dividend commitments and planned growth projects, even in sustained periods of lower commodity prices. COS shareholders would be positioned to benefit from Suncor’s integrated model and ongoing production growth, and continue to take part in any oil price recovery.
Suncor Energy Inc. operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada; and markets third party petroleum products.
Shares of Exelon Corporation (NYSE:EXC), declined -0.26% to $30.13, during its last trading session. In the last trading session, the stock moved on low volume, trading at a volume of 7.16M as compared to its average daily volume of 9.28 million shares.
Pepco Holdings Inc. (POM) and Exelon Corporation (EXC) declared they have reached a settlement with the Government of the District of Columbia and others on the companies’ projected merger that will deliver substantially improved benefits to consumers and businesses in the District. The settlement package was specifically shaped to address the concerns articulated by the District of Columbia Public Service Commission (PSC) in its August order.
Also signing on to the settlement agreement are the Office of the People’s Counsel and the Office of the Attorney General of the District of Columbia, in addition to the Apartment and Office Building Association of Metropolitan Washington, the District of Columbia Water and Sewer Authority, the National Consumer Law Center and the National Housing Trust.
Under the new proposal, Exelon will more than double direct benefits to customers by providing $72.8 million for bill credits, low-income assistance, renewable energy and energy efficiency programs in the District. These funds are predictable to offset distribution rate enhances for residential customers through March 2019. Of the direct funds offered, $16.15 million would be used to assist low-income customers.
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
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