On Tuesday, Shares of Atmel Corporation (NASDAQ:ATML), gained 0.62% to $9.81, hitting its highest level, as the semiconductor maker’s stock continues a rise it began on Monday following speculation the company is exploring a sale.
Atmel is said to be looking into its planned options, which comprises the possibility of a sale, sources told Reuters.
During Tuesday’s trade, 17,748,175 shares exchanged hands as compared to its average daily volume of 5,536,060. The company holds the market capitalization of $4.09B.
Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit products primarily in the United States, Asia, Europe, South Africa, and Central and South America.
Shares of SandRidge Energy, Inc. (NYSE:SD), declined -0.88% to $1.13, during its last trading session, despite higher oil prices assisted energy shares.
Crude oil prices jumped more than 3 percent as bulls ramped up bets across the oil complex for another weekly drop in U.S. stockpiles, according to Reuters.
The higher crude prices pushed up energy stocks, and financial shares gained as some investors bet the U.S. Federal Reserve could raise interest rates at some point this year even though exact timing for a hike has been hard to predict. Financial services companies would benefit from higher interest rates. Reuters Reports.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Finally, Anadarko Petroleum Corporation (NYSE:APC), ended its last trade with 0.31% gain, and closed at $83.22.
Anadarko Petroleum Corporation, declared the pricing of its registered underwritten public offering (the TEU offering) of 8,000,000 7.50-percent tangible equity units (TEUs), with a stated amount per TEU of $50, resulting in net proceeds to Anadarko of about $387.1 million, and the pricing of the concurrent registered public offering (the WGP secondary offering) of 2,000,000 common units representing limited partner interests in Western Gas Equity Partners, LP (WGP), which were offered to the public at $58.20 per common unit. WGP is a partner of Anadarko formed to own partnership interests in Western Gas Partners, LP (WES), a separate partner of Anadarko formed to acquire, own, develop and operate midstream energy assets. Each offering is predictable to close on June 10, 2015, subject to customary closing conditions, and neither closing is contingent on the other.
Each TEU is comprised of a prepaid equity purchase contract and a senior amortizing note. Unless earlier settled, each prepaid equity purchase contract will automatically settle on June 7, 2018 (subject to postponement in limited circumstances) for between 0.7159 and 0.8591 WGP common units, subject to adjustments and subject to Anadarko’s right to elect to deliver shares of its own common stock in lieu of such WGP common units. The number of WGP common units, or shares of Anadarko’s common stock, as the case may be, to be delivered by Anadarko will be based on the average of the daily volume-weighted average prices of WGP common units for the 20 successive trading days starting on, and counting, the 23rd planned trading day right away preceding June 7, 2018. Each amortizing note will pay equal quarterly installments of $0.9375, which in the aggregate will be equivalent to a 7.50-percent cash payment per year with respect to each $50 stated amount of TEUs. Such quarterly installment payments will constitute a payment of interest and a partial repayment of principal. The amortizing notes have a final installment payment date of June 7, 2018 and will be unsecured senior obligations of Anadarko. The WGP common units that may be delivered to settle the equity purchase contracts and that are being offered in the WGP secondary offering are owned, directly or indirectly, by a wholly owned partner of Anadarko, and WGP is not issuing securities in either offering.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing. The Oil and Gas Exploration and Production segment explores for and produces natural gas, oil, condensate, and natural gas liquids (NGLs).
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