On Monday, Shares of Platform Specialty Products Corp (NYSE:PAH), gained 4.17% to $27.26.
Platform Specialty Products, declared that it has reached a definitive agreement to be attained by funds managed by associates of Apollo Global Administration, LLC (APO), for $34.00 per share in cash. The purchase price represents a premium of about 28% over OM Group’s closing share price on May 29, 2015.
Platform Specialty Products (PAH) will acquire OM Group’s Electronic Chemicals and Photomasks businesses, which combined represented about $28 million of adjusted EBITDA in 2014, from the Apollo Funds in two separate transactions for total cash consideration of $365 million. Platform believes there is a synergy opportunity in excess of $20 million over the next two years from the combination of these complementary assets. Following the transactions, the Apollo Funds will own OM Group’s Magnetic Technologies, Battery Technologies and Advanced Organics businesses.
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The company’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions.
Shares of IMAX Corporation (USA) (NYSE:IMAX), inclined 3.32% to $ 41.68, during its last trading session.
IMAX Corporation, declared the election of Darren Throop to its board of directors. Throop is President & CEO of Entertainment One Ltd., a leading independent entertainment group, which produces and acquires entertainment content rights for distribution across all consumer media worldwide. Throop fills one of the two vacancies on the Company’s board left by Garth M. Girvan and Marc A. Utay, who did not stand for re-election. IMAX is in the process of recruiting a tenth director, who will be identified in due course.
Throop has a 20-year track record of successfully building and managing entertainment companies. In 1991, he founded an independent chain of retail music stores. Building and acquiring several music distribution ventures over ten years, he was named CEO of ROW Entertainment in 2001. Throop took the company public in 2003 and changed the company name to Entertainment One. With a comprehensive distribution network in the U.S. and Canada, Throop began aggressively acquiring the rights for specialty content. In 2007, to fund expansion into independent feature film and television distribution and rights ownership, Throop orchestrated the movement of Entertainment One to London’s Alternative Investment Market in a $200 million IPO.
IMAX Corporation, together with its auxiliaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide. The company operates in seven segments: IMAX Systems, Theater System Maintenance, Joint Revenue Sharing Arrangements, Film Production and IMAX Digital Re-Mastering, Film Distribution, Film Post-Production, and Other. The IMAX Systems segment designs, manufactures, sells, or leases IMAX theater projection system equipment.
At the end of Monday’s trade, Shares of Renewable Energy Group Inc (NASDAQ:REGI), gained 16.46% to $ 12.38.
Renewable Energy Group, President and CEO Daniel J. Oh issued the following statement after EPA’s release of the projected rule for Renewable Volume Obligations (RVO) biomass-based diesel for 2014-2017 and overall advanced biofuels for 2014-2016:
“We are positive about today’s EPA declaration related to projected biomass-based diesel volumes for 2014-2017 and overall advanced biofuels for 2014-2016. This proposal reduces uncertainty and points towards ongoing growth for the near future and beyond. We are very appreciative of our champions on Capitol Hill and within the administration who worked tirelessly over the last several months to move RVO numbers upward to where they are now. It is complicated to manage policy and politics and we believe the numbers show that federal policy is heading in the right direction. This is a noteworthy improvement over the original 1.28 billion gallon 2014 D4 proposal. Considering a potential 20% RIN carry-over, the projected RVO suggests biomass-based diesel usage levels at over 2 billion gallons per year.”
“We believe this proposal leaves room to grow D4 (biomass-based diesel category) and D5 (general advanced biofuel category) final RVOs as REG and our industry continue to deliver increasing amounts of high-quality, cleaner and lower carbon advanced biofuel. When the EPA and OMB next look towards market performance, they should have every reason to believe that the biomass-based diesel category will continue to grow and support ever greater usage throughout the country.”
Renewable Energy Group, Inc. produces and sells biofuels and renewable chemicals in the United States. It operates through two segments, Biomass-Based Diesel and Services. The Biomass-Based Diesel segment acquires feedstock; manages, constructs, and operates biomass-based diesel production facilities; and markets, sells, and distributes biomass-based diesel and its co-products.
Finally, CNH Industrial NV (NYSE:CNHI), ended its last trade with 1.35% gain, and close at $8.99.
CNH Industrial, declared that its wholly owned partner, CNH Industrial Capital LLC, has accomplished its offer to exchange up to $500,000,000 in aggregate principal amount of its 3.375% Notes due 2019 that have been registered under the Securities Act of 1933, as amended, for its outstanding unregistered 3.375% Notes due 2019.
The exchange offer expired at 5:00 p.m., New York City time, on May 26, 2015. Based on the final count by the exchange agent for the exchange offer, as of 5:00 p.m., New York City time, on May 29, 2015, $494,700,000 in aggregate principal amount of the outstanding 3.375% Notes due 2019 had been tendered, representing 98.94% of the aggregate principal amount of the outstanding 3.375% Notes due 2019.
CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles, engines, transmissions, and axles worldwide.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
